228 GatesElyria, OH 44035

228 GatesElyria, OH 44035

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$125,000 Active
Multi Unit - Multiple MLS 5198378 Price Reduced $10,000 on May 1st, 2026
4 beds 2 full baths 1,491 sqft
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Listed By

Agency Name: EXP Realty, LLC.
Agency Contact: home4u@georgesoldit.com, 440-502-9128

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

Great turn-key investment property! This duplex features 2 bedroom & 1 full bath on each unit. A large living room, remodeled kitchen & an updated full bathroom are found in each move in ready unit. The basement provides ample storage and has been recently waterproofed(2022). Newer Hot water tanks 2019 up & 2019 down; Sump pump(2022), Newer Furnaces 2021 up, 2017 down. New fridges in both units. Both units are occupied with wonderful tenants. The downstairs tenant is month to month paying $875 and upstairs tenant's lease expires on 12/31/2026 and they are paying $720. $1595 a month in rent, great cash flowing double Tenant pays all utilities except water and sewer! No showings until the offer is accepted. Great location close to shopping areas, downtown Elyria, Schools and much more! Call today!

228 Gates | MLS# 5198378

This multi-family property located at 228 Gates, Elyria, OH 44035 is currently listed for sale with an asking price of $125,000. Gates is located within the Elyria City school district. Search Elyria real estate on 7030hanbysloop.cutlerhomes.com today.

Property Features

Property Type: Multi Unit - Multiple
Basement: Full, Unfinished
Basement: Yes
Cooling: None
Days on Market: 20
Heating: Forced Air, Gas
Lot Size: 0.08 Acres
Roof Type: Slate
Stories: 2.0
Taxes: $1,465 / year
Year Built: 1900

Feature Descriptions

Accessibility: None
Exterior: Vinyl Siding
Fencing: Chain Link, Partial, Wood
Laundry: In Unit
Parcel#: 06-26-019-102-010
Parking: No Garage, Paved
Sewer: Public Sewer
Water: Public

Local Schools

School District: Elyria City

Demographics

Lorain County Demographic Information for 228 Gates, Elyria, OH 44035
Fips
Fips Code 39093
Population
2020 to 2025 Change up 3.3%
2010 Count 301,356
2020 Count 312,964
2025 Estimate (V2025) 323,219
2020 Estimate (V2025) 312,956
Age Distribution (Years Old)
0 to 4 5.2%
5 to 17 21.1%
18 to 64 53.0%
65 and Older 20.7%
Gender
Male 49.6%
Female 50.4%
Place of Birth
Foreign 3.1%
US 96.9%
Education
High School Graduate, Age 25+ 91.8%
Bachelor's Degree or Higher, Age 25+ 28.5%
Computer and Internet use
Households with a computer 94.8%
Households with a broadband Internet subscription 88.9%
Language
English is Second Language, Age 5+ 7.8%
English is First Language, Age 5+ 92.2%
Veterans
Veterans 18,512
Income
Per Capita Income $40,798
Median Household Income $73,347
People in Poverty 10.8%
Commute
Average Work Commute Time 26 minutes
Housing
Total Housing Units 136,666
Households 127,544
Average Household Size 2.42
Owner-Occupied 74.0%
Multi-Family 17.0%
Owner-Occupied Median Value $223,200
Median selected monthly owner costs -with a mortgage $1,525
Median selected monthly owner costs -without a mortgage $629
Median gross rent $966
Building Permits
New Private Housing Issued 2024 1,331
Years at Residence
1 Year or More 90.9%
Less Than 1 Year 9.1%
Business and Employment
Private non-farm Establishments 5,664
Private non-farm Employment 89,159
Private non-farm Employment Growth 0.0%
Nonemployer Establishments 21,949
Number of Firms 4,759
Business Production
Value of Shipments $6,058,884,000
Wholesale Trade $2,315,415,000
Retail Trade $3,875,576,000
Retail Sales Per Capita $12,297
Accommodation and Food Services $444,363,000
Land
Land Area 491.10 sq. miles
Population Per Square Mile 614

Source: US Census Bureau

Estimate Your Payment

Estimated Payment

$ 793.90 per month $635.36 Principal & Interest $122.08 Property Tax $36.46 Homeowner's Insurance

Change Payment Information

%
years/fixed
yearly
yearly (est.)
(Payments are an estimate and may vary by lender)
Croos Country Mortgage
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