1557 Newman Avenue, Lakewood, OH 44107
- $295,000
- 5
- BD
- 3
- BA
- 1,980
- SqFt
- Sold Price
- $295,000
- List Price
- $299,000
- Status
- CLOSED
- Days on Market
- 179
- Closing Date
- Oct 06, 2025
- MLS#
- 5113652
- Subtype
- Residential Income
- Year Built
- 1908
- Bedrooms
- 5
- Bathrooms
- 3
- Full Baths
- 2
- Half Baths
- 1
- Living Area
- 1,980
- Acres
- 0.07
- Subdivision
- Newman
- Neighborhood
- Newman
- MLS Area Major
- Lakewood
Property Description
Welcome to 1557 Newman Ave — a fully renovated duplex offering incredible income potential and flexibility. With the lower unit previously rented at $1,300/month and the upper unit projected to earn $1,800+/month, this property easily fits the criteria for investors seeking strong returns. It’s also perfect for owner-occupants looking to offset a mortgage with rental income, or those wanting to convert it into a spacious single-family home. The property features 5 bedrooms and 3 full baths in total: a 2-bed/1-bath unit on the first floor and a large 3-bed/2-bath unit spanning the second and third floors. The upper unit includes an updated kitchen and a brand-new third-floor bathroom with new stairs. Recent upgrades (2023–2024) include: All new appliances New flooring throughout both units New front porch and upper balcony Fresh exterior paint New gutters and entry doors Majority of windows replaced Located in a desirable, walkable Lakewood neighborhood near parks, dining, and RTA transit, this turnkey property requires minimal maintenance and is poised for immediate cash flow.
Additional Information
- Taxes
- $4,516
- Appliances
- Dryer, Microwave, Range, Refrigerator, Washer
- Heating
- Forced Air
- Air Conditioning
- None
- Levels
- Three Or More
- Roof
- Asphalt, Fiberglass
- Parking Features
- On Street
- School District
- Lakewood CSD (Cuyahoga)- 1817
Listing Courtesy of: Michael Jones, michaelpajones@gmail.com With RE/MAX Traditions
Selling Office: Berkshire Hathaway HomeServices Professional Realty.Mortgage Calculator
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