Property Description

Cash-flowing rental with established tenancy at 508 Furnace St in Elyria, offered exclusively as part of a 19-unit portfolio-no individual sales. This occupied property generates $1,200 per month on a month-to-month lease, providing immediate income. The tenant is responsible for all utilities, helping to keep operating expenses low and enhance overall returns. The home offers a functional layout with strong rental appeal and is positioned in an area with consistent demand. A dependable addition to a larger portfolio, this asset contributes steady cash flow within a diversified, income-producing package.

508 Furnace Street | MLS# 5205304

This single family home located at 508 Furnace Street, Elyria, OH 44035 is currently listed for sale with an asking price of $105,000. This property was built in 1950 and has 2 bedrooms and 1 full baths. Furnace Street is located in the Mendelson subdivision within the Elyria City school district. Search Mendelson real estate on 1009fairoaksavenuesw.cutlerhomes.com today.

Property Features

Property Type: Residential - Single Family

Cooling: None

Days on Market: 1

Garage: 1

Heating: Other

Home Style: Ranch

Lot Size: 0.11 Acres

Roof Type: Other

Stories: 1.0

Taxes: $1,011 / year

Year Built: 1950

Feature Descriptions

Exterior: Frame, Other

Parcel#: 06-24-052-104-009

Parking: Detached, Garage

Sewer: Other

Water: Other

Local Schools

School District: Elyria City

Market Trends

Lorain County Residential Market Trend Graphs

Zip Code 44035

Source: Delta Media Group, Inc.

Demographics

Lorain County Demographic Information for 508 Furnace Street, 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

$ 654.13 per month $539.25 Principal & Interest $84.25 Property Tax $30.63 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 05/22/2026. The listing information on this page last changed on 05/22/2026. 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 Fri 05/22/2026 3:45:29 AM EST) or Dayton MLS (last updated Thu 05/21/2026 11:46:51 PM EST) or CBRMLS (last updated Fri 05/22/2026 12:44:51 AM EST) or Multiple Listing Service of Greater Cincinnati (last updated Thu 05/21/2026 11:53:37 PM EST) or NKY MLS (last updated Thu 05/21/2026 11:28:34 PM EST) or Wrist MLS (last updated Thu 05/21/2026 11:24:28 PM EST) or Firelands MLS (last updated Thu 05/21/2026 11:11:39 PM EST) or MLS NOW (last updated Fri 05/22/2026 12:17:42 AM 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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