#5139004, Jessica L Ivans, Listing office: Keller Williams Greater Metropolitan
$320,000 List price
1557 Newman Ave Lakewood, OH 44107
5 beds
2 full, 1 partial
1,980 sqft
0.07 acres
$162 / sqft
Multi-Family
Property details
About 1557 Newman Ave
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.
Highlights
Home typeDuplex
HeatingForced Air
StatusActive
Size1,980 sqft
BasementYes
Lot size0.07 Acres
Year built1908
ParkingOn Street
MLS #5113652
Summary
- Partial Bathrooms: 1
- Full Bathrooms: 2
- Appliances: Dryer, Microwave, Range, Refrigerator, Washer
- Basement: Yes
- Total Bedroom Count: 5
- Attached Garage: No
- Private Pool: No
- Parking: On Street
- Heating: Forced Air
- Cooling: None
- List Price: $320,000
- Price/SqFt: $161
- Annual Tax Amount: $5,950
- Tax Year: 2023
- Directions: Exit 166 from I-90, turn north on W 117th, left on Franklin Blvd, left onto Newman, Duplex on your left
- Year Built: 1908
- Living Area: 1,980 SqFt
- Lot Size: 0.07 Acres
- MLS Number: 5113652
- MLS Name: NOWDD
- Office Name: RE/MAX Traditions
- Office Phone: (440) 714-5755
- Office Email: michaelpajones@gmail.com
- Listing Agent: Michael Jones
Copyright 2025 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is 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. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/24/2025, 3:45:35 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Nov 15, 2023 | Home Sold | $199,000 |
| Apr 01, 2008 | Home Sold | $30,000 |
| Aug 08, 2000 | Home Sold | $77,700 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $42,110 | $5,950 |
| 2022 | $42,110 | $5,891 |
| 2021 | $42,110 | $3,221 |
| 2020 | $29,650 | $2,594 |
| 2019 | $29,650 | $2,547 |
| 2018 | $29,650 | $2,543 |
| 2017 | $27,760 | $2,623 |
History based on county public records data.
Nearby schools
7
Harrison Elementary School
Public District PK-5
0.4 mi
•2080 Quail St
5
Louisa May Alcott Elementary School
Public District KG-5
0.8 mi
•10308 Baltic Rd
6
Emerson Elementary School
Public District PK-5
1.0 mi
•13439 Clifton Blvd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $32,317. The majority of Lakewood, OH residents have income less than $<35k annually. Most families are single, no kids. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
53%
<35k
44%
35k-100k
3%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
60%
Single, No Kids
15%
Single, with Kids
13%
Married, No Kids
12%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
17%
<11 yrs old
6%
12-17 yrs old
27%
18-34 yrs old
42%
35-64 yrs old
8%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Major League Soccer (MLS)
Tennis
Where do the neighbors shop?
Burlington
H&M
IKEA
Where do the neighbors go to eat?
White Castle
Boston Market
Popeyes
What do the neighbors drive?
Kia
Honda
Nissan
What do the neighbors listen to?
Urban Adult Contemporary
Rhythmic Contemporary Hits- Soft Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 1557 Newman Ave
The listing price of 1557 Newman Ave property is $320,000.
The property 1557 Newman Ave is a multi located in Lakewood, Ohio, 44107.
Active Listing: 1557 Newman Ave is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 1557 Newman Ave are: Harrison Elementary School (GreatSchools Rating 7/10), Louisa May Alcott Elementary School (GreatSchools Rating 5/10), Emerson Elementary School (GreatSchools Rating 6/10), Hope Academy Northwest Campus (GreatSchools Rating 6/10), Garfield Middle School (GreatSchools Rating 6/10), Marion C. Seltzer PreK-8 School (GreatSchools Rating 4/10), Lake Erie International High School (GreatSchools Rating 2/10), Lakewood High School (GreatSchools Rating 6/10), New Tech West High School (GreatSchools Rating 3/10).
According to the records, the last property tax for 2023 is $5,950 (source: MLS/based on county public records data).
The last sale was on November 15, 2023 for $199,000 (source: MLS/tax record).
The property 1557 Newman Ave is 1,980 SqFt (source: MLS/tax record).
The year of construction for 1557 Newman Ave is 1908.
This home is located at 1557 Newman Ave in Lakewood, OH and zip code 44107. This 1,980 square foot home, which was built in 1908, sits on a 0.07 acre lot. Features: 5 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since April 10, 2025 and is currently priced at $320,000.
Lakewood, OH housing market in June 2025 saw over 29 listings sold above listed price, more than 5 sold at listed price and over 17 sold below. Between May and June 2025, Lakewood, OH real estate market has seen no change in the number of listings . In June 2025 median list price was $317,000 and the average listing age was 31 days.
From Rocket Homes Real Estate and based on county public records data.