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1557 Newman Avenue

Lakewood , OH 44107

MLS#: 5113652

$309,000

Status: Active
Listing number: 5113652
Listing provided by: RE/MAX Traditions
Listing agent phone: None
Last update: 5 days ago
Browse Properties
Newman - Residential Income

Property

Beds

5

Full Baths

2

1/2 Baths

1

Year Built

1908

Sq.Footage

1,980

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.

Features & Amenities

Interior

  • Total Bedrooms

    5

  • Bathrooms

    2

  • 1/2 Bathrooms

    1

  • Above Grade Finished Area

    1980.0

  • Basement YN

    YES

  • Cooling YN

    NO

  • Cooling

    None

  • Heating YN

    YES

  • Heating

    Forced Air

Exterior

  • Garage

    No

  • Construction Materials

    Vinyl Siding

  • Parking

    On Street

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.07

  • Property Type

    Residential Income

  • Property Sub Type

    Duplex

Price

  • Sales Price

    $309,000

  • Tax Amount

    4516.2

  • Sq. Footage

    1, 980

  • Price/SqFt

    $156

HOA

  • Association

    No

School District

  • Elementary School

    Lakewood CSD (Cuyahoga)- 1817

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Cuyahoga

Elementary School

Lakewood CSD (Cuyahoga)- 1817

Middle School

High School

Listing Courtesy of Michael Jones , RE/MAX Traditions

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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.

1557 Newman Avenue

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