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Local Realty Service Provided By: Coldwell Banker EvenBay Real Estate

2867 Garfield Boulevard, 
Lorain, OH 44052

$92,000


3

Beds


1

Bath


1,221

Sq Ft


Single Family

Sold

Listed by

Tal Tamir

Bought with RE/MAX Infinity

Russell Real Estate Services

440-201-9850

MLS#

5182050

Source:

OH NORMLS

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About This Home

2867 Garfield Boulevard

Turnkey cash-flowing single family in Lorain with major capital improvements already completed. This recently renovated 3-bedroom, 1-bath home is currently rented at $1,200/month with tenants paying ALL utilities, creating an extremely efficient operating structure for investors. At $99,000, this property delivers a strong 9.52% cap rate from day one. The property has received substantial upgrades including a new furnace, basement wall reinforcement with steel I-beams, professional interior waterproofing system with sump pump, and beautiful new vinyl plank flooring, paint, and cabinets throughout. The 2-story layout features an open living and dining area flowing into the updated kitchen with modern white cabinetry and black appliances. The numbers work: $14,400 gross rent against $4,971 in operating expenses (taxes, insurance, management, vacancy, and maintenance reserves) yields a $9,429 NOI. Finance with 20% down at 6.5% and you're looking at $280/month cash flow, 16.18% cash-on-cash return, and a 1.55 DSCR. The current owner is willing to continue managing the property at 10% for completely turnkey operation. Large backyard with storage shed and driveway parking add to the appeal. Excellent entry point for investors looking to break into the Lorain market or add a stable performer to their portfolio.

Home Facts

Single Family

1 Bath

3 Bedrooms

Built in 1946

Price Summary

99,000

$81 per Sq. Ft.

MLS #:

5182050

Sold:

April 17, 2026


Rooms & Interior

Bedrooms

Total Bedrooms:

3

Bathrooms

Total Bathrooms:

1

Full Bathrooms:

1

Interior

Living Area:

1,221 Sq. Ft.


Structure

Structure

Architectural Style:

Colonial

Building Area:

1,221 Sq. Ft.

Year Built:

1946


Lot

Lot Size (Sq. Ft):

6,098


Finances & Disclosures

Finances

Price:

$99,000

Price per Sq. Ft:

$81 per Sq. Ft.

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