Two-Unit Residential
418 W 17th St, Lorain, OH 44052
For Sale
$149,900
One apartment is occupied, while the second is vacant and ready for occupancy.
Property Size1,290 SF
Price / SF$116.20
Days on Market16
Property Features for 418 W 17th St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
RE/MAX Infinity
Listed By:
Aiden Avtgis
(330) 415-7054
Source:
Northeastohiolistings
Added: Oct 25
Changed: Nov 8
Last Checked: Nov 8 at 6:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Infinity
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Investment Insights
Based on property information with market context.
This residential duplex in Lorain contains two apartments: a one-bedroom unit and a two-bedroom unit. The one-bedroom apartment is occupied by a Section 8 tenant; the two-bedroom apartment is vacant. The property was built in 1900 and has 1,290 square feet of reported property size.
Key Highlights
- Two‑unit duplex with one one‑bedroom apartment and one two‑bedroom apartment
- One‑bedroom apartment occupied by a Section 8 tenant
- Two‑bedroom apartment is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,813
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$236,260
$236.3K
Cap Rate 7%
$168,757
$168.8K
Cap Rate 9%
$131,256
$131.3K
Market Conditions
NOI Build-Up for 1,290 SF
Gross rent
$17.8K $13.80/SF
− Vacancy
−$926 −$0.72/SF
EGI
$16.9K $13.08/SF
− OpEx
−$5.1K −$3.92/SF
NOI
$11.8K $9.16/SF
Area
Lorain County, OH
Vacancy
5.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$236,260
Cap Rate 7%
$168,757
Cap Rate 9%
$131,256
Alternative Uses
Best Use
Multifamily LT 5
$168.8K
$147.7K – $196.9K
NOI $11,813 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$157.6K
$137.9K – $183.9K
NOI $11,034 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$325.1K
$284.5K – $379.3K
NOI $22,756 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
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Business Placement
Demographics for 44052, OH
29,249
Population
13,673
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
83%
High-School Grad
9.5 sq mi
ZIP Area
3,079
Density / Sq Mi
$42,298
Median Household Income
$31,985
Median Earnings
$840
Median Rent
$104,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lorain, OH
Properties on Market for Duplexes in Lorain
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - One apartment is occupied, while the second is vacant and ready for occupancy.
Where is this duplex located?
The property is located at 418 W 17th St Lorain, OH.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two‑unit duplex with one one‑bedroom apartment and one two‑bedroom apartment; One‑bedroom apartment occupied by a Section 8 tenant; Two‑bedroom apartment is vacant
