Sheffield Land & Improv C Homes with Lorain CSD - 4709 School District

Sheffield Land & Improv C Homes with Lorain CSD - 4709 School District

Welcome to Sheffield Land & Improvement Company, a charming subdivision nestled in the heart of Lorain, Ohio. This picturesque community offers a perfect blend of suburban tranquility and urban convenience, making it an ideal place for families, professionals, and retirees alike.

Located within Lorain County, Sheffield Land is designed for those who appreciate a welcoming atmosphere and a strong sense of community. The neighborhood features a variety of beautifully crafted homes, each showcasing unique architectural styles that cater to diverse tastes. With tree-lined streets and well-maintained parks, residents can enjoy leisurely strolls, outdoor activities, and the joy of neighborhood camaraderie.

One of the standout features of Sheffield Land is its affiliation with the Lorain City School District (CSD). This district is committed to providing quality education, ensuring that children have access to excellent academic resources and extracurricular activities. With schools known for their dedicated staff and supportive learning environments, families can feel confident in their children's educational journey.

Living in Sheffield Land means being just a stone's throw away from the vibrant city of Lorain. Residents can easily access shopping, dining, and entertainment options, along with beautiful Lake Erie waterfront parks that offer stunning views and recreational opportunities. Whether you're seeking a quiet evening at home or an adventurous day out, this community provides the best of both worlds.

Discover the charm of Sheffield Land & Improvement Company and experience the warmth of a community that truly feels like home. Your dream home awaits in this delightful Lorain subdivision!

Newest Sheffield Land & Improv C Homes with Lorain CSD - 4709 School District

$425,000
5200241 MLS
Lorain sits on Lake Erie just 30 miles west of Cleveland, a commuter-accessible market where renters make up 45% of all households, county home values are up nearly 18% year-over-year, and a wave of economic activity including 1,800 new union jobs at Ford's Ohio Assembly Plant is tightening rental demand across the board. Against that backdrop, this fully occupied 10-unit building is a textbook buy-and-hold: all one-bedroom/one-bath units, many updates already complete, low property taxes, and a new silicone roof layer going on prior to closing. At $42,500 per door, the basis is hard to argue with. The rent roll sits at $6,225/month ($74,700 GSI) with current rents ranging $500-$675, meaningfully below a market where the dominant rental price band runs $700-$850. That gap represents $100-$200/unit of achievable upside on renewals with minimal to no upgrades. A coin-operated laundry room and unused storage area add additional income potential on top. The owner covers water, sewer, and gas via the on-site boiler, all reflected in the expense model. At $425K, the deal underwrites to an 8.54% cap rate, 1.40x DSCR, and $871/month net cash flow against a conservative 5% vacancy assumption. As rents roll to market, the 5-year model shows cash-on-cash climbing from 9.46% toward 14.5% with cumulative cash flow exceeding $66,000 over that window. Fully occupied, freshly roofed, clear value-add runway. This is Lorain at its most investable.

1888 E 28th Street, Lorain

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