The property features a two-story exterior with light gray siding and white trim - 122 Elbe Street, Elyria

The property features a spacious yard with a well-maintained lawn and a brown privacy fence - 122 Elbe Street, Elyria

The property features a spacious rear yard with a vibrant green lawn, enclosed by a privacy fence - 122 Elbe Street, Elyria

The property features a front porch with white railings and steps, and a mature tree in the front yard - 122 Elbe Street, Elyria

This property features a gray exterior with white trim, a welcoming porch, and a gravel driveway - 122 Elbe Street, Elyria

+45 more

The property features a well-maintained lawn and a detached structure in the rear - 122 Elbe Street, Elyria

Apartment at 122 Elbe Street, Elyria, photo 7 of 50

Living area featuring wood-look flooring, light grey walls, and a ceiling fan with light fixture - 122 Elbe Street, Elyria

Living area featuring hardwood flooring, a ceiling-mounted light fixture, and an exterior door with glass panels - 122 Elbe Street, Elyria

Living area featuring wood-look flooring and a ceiling fan - 122 Elbe Street, Elyria

This room features light blue paneled walls and a drop ceiling - 122 Elbe Street, Elyria

The property features light grey paneled walls and light wood flooring - 122 Elbe Street, Elyria

Apartment at 122 Elbe Street, Elyria, photo 13 of 50

Kitchen area featuring wood-look flooring and a white refrigerator - 122 Elbe Street, Elyria

The property features a kitchen with light blue walls, wood flooring, and white upper cabinetry - 122 Elbe Street, Elyria

Bathroom featuring a white vanity with double doors, a mirror, and a toilet - 122 Elbe Street, Elyria

Kitchen area featuring hardwood style flooring, a white oven/range, and a window with a curtain - 122 Elbe Street, Elyria

The property features a spacious yard with a green lawn - 122 Elbe Street, Elyria

The property features a two-story exterior with light-colored siding, a front porch, and a spacious grassy yard - 122 Elbe Street, Elyria

The property features an extensive lawn area and a rear porch with railings - 122 Elbe Street, Elyria

The property features a spacious yard with a grass lawn, a rear exterior staircase, and two covered porches - 122 Elbe Street, Elyria

The property features light-colored horizontal siding, a covered front porch with dark railings and steps, and an exterior staircase at the rear - 122 Elbe Street, Elyria

This property features light-colored siding and a covered front porch with dark-stained railings - 122 Elbe Street, Elyria

The property features an extensive green lawn surrounding the structure, with a covered porch and deck at the entrance - 122 Elbe Street, Elyria

The room features wood flooring, painted walls, and a window with a radiator below - 122 Elbe Street, Elyria

Room featuring wood-look flooring, painted walls, and a window providing natural light - 122 Elbe Street, Elyria

This room features rich wood flooring and two windows with white trim - 122 Elbe Street, Elyria

The bathroom features wood-look flooring, a white bathtub, and a white toilet - 122 Elbe Street, Elyria

The kitchen features wood-look flooring, white base cabinetry with a double basin sink, and a window with white trim - 122 Elbe Street, Elyria

The bathroom features wood-look flooring, a white vanity with a single sink, a toilet, and a white bathtub with a chrome faucet - 122 Elbe Street, Elyria

The property features a two-story home with light-colored siding, a dark roof, and a covered front porch with decorative black railings - 122 Elbe Street, Elyria

Detached two-car garage with light-colored siding and a gable roof - 122 Elbe Street, Elyria

This property features a two-story home with light-colored siding and a covered front porch with decorative black railings and columns - 122 Elbe Street, Elyria

This property features a well-maintained lawn and a paved walkway leading to the entrance - 122 Elbe Street, Elyria

The property features a two-story white exterior with a covered front porch and a paved driveway - 122 Elbe Street, Elyria

This room features gray plank flooring, white walls, and a window providing natural light - 122 Elbe Street, Elyria

Utility area featuring a water heater and a light fixture - 122 Elbe Street, Elyria

Bathroom featuring a vanity with a sink, a toilet, and a bathtub with a shower - 122 Elbe Street, Elyria

The kitchen features white cabinetry, a double basin sink, and a window providing natural light - 122 Elbe Street, Elyria

Living area with light-toned flooring and white walls - 122 Elbe Street, Elyria

The room features light gray wood-style flooring, white walls, and white trim - 122 Elbe Street, Elyria

Apartment at 122 Elbe Street, Elyria, photo 42 of 50

This room features a window providing natural light, grey tone flooring, and white walls - 122 Elbe Street, Elyria

The property features light-toned walls, wood-style flooring, a window, and white trim - 122 Elbe Street, Elyria

This utility space features a water heater, a window for natural light, and grey walls with white trim - 122 Elbe Street, Elyria

This room features a window with white trim, gray walls, and wood-look flooring - 122 Elbe Street, Elyria

Bathroom featuring a white vanity with a sink and chrome faucet, a mirrored medicine cabinet, and a bathtub with a showerhead - 122 Elbe Street, Elyria

The room features light gray walls, wood-style flooring, and a ceiling light fixture - 122 Elbe Street, Elyria

This room features a window providing natural light, a ceiling-mounted light fixture, and dark wood-style flooring - 122 Elbe Street, Elyria

This room features light blue walls, two windows with white trim, and gray plank flooring - 122 Elbe Street, Elyria

50 photos

$210,000

122 Elbe Street

Elyria, OH 44035

Listed by Tal Tamir · Russell Real Estate Services

Bedrooms

N/A

Bathrooms

N/A

Living area

N/A

Year built

1900

About this home

A rare opportunity to acquire a 19-unit, 12-property scattered-site portfolio across Elyria and Lorain at $1,525,000, just 25 miles west of Cleveland. Fully occupied, the portfolio delivers $169,684 in NOI at a 9.98% cap rate, $66,377 in annual net cash flow, and a 15.02% cash-on-cash return on a $442,000 total investment. The seller is actively leasing the 2 remaining vacant units at rents consistent with the in-place portfolio, making this a stabilization-in-progress buy rather than a speculative one. The income is built on a foundation of heavy Section 8 participation across a market with deep voucher infrastructure. The Lorain Metropolitan Housing Authority manages over 3,100 active Housing Choice Vouchers, paying landlords an average of $1,075 per month, and Lorain County ranks 13th highest in Ohio by Fair Market Rent with the 2-bedroom FMR at $1,208. In-place rents across the portfolio range from $725 to $1,600, all at or below FMR, with predominantly tenant-pays-electric lease structures keeping operating costs lean. The demand fundamentals across both markets are structural. Elyria and Lorain together represent over 118,000 residents with renter-occupied rates of 39.9% and 44.2% respectively, supported by a Lorain County employment base of 150,000 jobs that grew 1.55% year-over-year. Median home values in the $140,000 to $154,000 range continue to push a significant share of the workforce into long-term rental demand. For the investor building a cash-flow-first, Section 8-anchored portfolio in a market that still prices like it is underappreciated, this offering is worth a close look.

Property details

MLS #: 5201644
Property type: Apartment
Subdivision: N/A
Status: Active
Days on market: 121
On market date: April 15, 2026
Stories: 2
Total bathrooms: N/A
Garage spaces: N/A
Parking spaces: N/A
Lot size: 0.33 acres

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).

Elementary

Ely Elementary School

1.45 mi away · Grades 0-4

Nearest school -- attendance-zone data not available here

3.0

Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating

Enrollment: 432
Student:teacher ratio: 18.0:1
District: Elyria City Schools

Middle

Westwood Middle School

1.79 mi away · Grades 5-8

Nearest school -- attendance-zone data not available here

5.0

Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating

Enrollment: 355
Student:teacher ratio: 10.8:1
District: Elyria City Schools

High

Elyria High School

1.11 mi away · Grades 9-12

Nearest school -- attendance-zone data not available here

3.0

Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating

Enrollment: 1,667
Student:teacher ratio: 16.2:1
District: Elyria City Schools

Walkability

Blended score for Elyria's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

Somewhat walkable

out of 100

EPA National Walkability Index

8.2 / 20 -- Below average walkable

Google Places amenity density

63 / 100

Restaurants & cafes9

Grocery stores0

Parks7

Schools4

Transit stops6

Pharmacies0

Market position

How this listing compares to current activity in Elyria, from live MLS data.

On the market 121 days -- 36 more days than Elyria's current average of 85 days.

For reference, the median list price across 136 active listings in Elyria right now is $149,950.

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Est. monthly payment

$1,415/mo

$42,000 down

$168,000 loan

Principal & interest$1,090

Property tax (est.)$175

Home insurance (est.)$150

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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated August 14, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.