Property Description

Investor-focused single-family rental in Lorain: 223 West 16th St is a 3-bed, 1-bath home leased at $1,350/month through July 2026, delivering immediate, predictable cash flow with a tenant in place. Located under 3 miles from Lake Erie with convenient access to Lakeside Landing, Oasis Marina, Lakeview Beach, Black River Landing, and Broadway/Old Town Charleston amenities, the property benefits from strong year-round rental demand and potential future short-term rental upside at lease end (if permitted). Solid cash-flowing asset with coastal-proximity demand drivers; showings by appointment only due to tenant occupancy.

223 W 16th Street | MLS# 5139835

This single family home located at 223 W 16th Street, Lorain, OH 44052 is currently listed for sale with an asking price of $115,000. This property was built in 1900 and has 3 bedrooms and 1 full baths. W 16th Street is located in the Chamberlain subdivision within the Lorain City school district. Search Chamberlain real estate on 1009fairoaksavenuesw.cutlerhomes.com today.

Property Features

Property Type: Residential - Single Family

Basement: Yes

Basement: Unfinished

Cooling: None

Days on Market: 311

Heating: Forced Air

Home Style: Cape Cod

Lot Size: 0.04 Acres

Roof Type: Asphalt

Stories: 2.0

Taxes: $1,035 / year

Year Built: 1900

Feature Descriptions

Exterior: Vinyl Siding

Parcel#: 02-01-003-141-002

Parking: Driveway

Sewer: Public Sewer

Water: Public

Local Schools

School District: Lorain City

Market Trends

Lorain County Residential Market Trend Graphs

Zip Code 44052

Source: Delta Media Group, Inc.

Demographics

Lorain County Demographic Information for 223 W 16th Street, Lorain, OH 44052

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

$ 710.40 per month $590.61 Principal & Interest $86.25 Property Tax $33.54 Homeowner's Insurance

Change Payment Information

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 05/28/2026. The listing information on this page last changed on 05/28/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Thu 05/28/2026 12:03:04 AM EST) or Dayton MLS (last updated Wed 05/27/2026 11:46:45 PM EST) or CBRMLS (last updated Wed 05/27/2026 11:59:53 PM EST) or Multiple Listing Service of Greater Cincinnati (last updated Wed 05/27/2026 11:53:39 PM EST) or NKY MLS (last updated Wed 05/27/2026 11:28:25 PM EST) or Wrist MLS (last updated Wed 05/27/2026 11:24:23 PM EST) or Firelands MLS (last updated Wed 05/27/2026 11:11:50 PM EST) or MLS NOW (last updated Wed 05/27/2026 11:57:33 PM EST). Real estate listings held by brokerage firms other than Cutler Real Estate may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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