508 Wood ST Elyria, OH 44035
6 Beds
2 Baths
2,440 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Duplex
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 2,440 sqft
Price per Sqft $69
Subdivision Colonial Oaks Sub
MLS Listing ID 5196871
Bedrooms 6
Full Baths 2
HOA Y/N No
Abv Grd Liv Area 2,440
Total Fin. Sqft 2440
Year Built 1978
Annual Tax Amount $2,314
Tax Year 2024
Contingent Appraisal,Other See Remarks
Lot Size 10,890 Sqft
Acres 0.25
Property Sub-Type Duplex
Property Description
This side-by-side duplex is a straightforward opportunity for the investor who knows how to see past paint and patched walls, or for the buyer who's ready to stop paying someone else's mortgage and start building something of their own. House hacking done right starts with a property like this.
Each unit offers 1,220 square feet, 3 bedrooms, a full bath, and an attached single-car garage — a layout that rents well and lives well. One side is currently tenant-occupied and generating income from day one. The other side is vacant, has been updated, and is move-in ready with two things standing between you and full occupancy: paint and a little wall repair. That's it. That's the ask.
The big stuff? Already handled. A brand new roof and gutters installed November 2023— one of the most expensive line items any investor dreads is already off your list.
The pricing here is intentional. It reflects the current rental market in the area, the cosmetic work ahead, and the very real upside waiting on the other side of it. This isn't a hidden gem that nobody noticed. It's a property that rewards buyers who show up prepared and move with clarity.
Whether you're adding to a portfolio or stepping into your first house hack, 508-510 Wood St meets you where you are — and gives you room to grow.
Priced for the work. Built for the return.
Location
State OH
County Lorain
Rooms
Basement None
Interior
Heating Baseboard, Electric
Cooling Ceiling Fan(s)
Fireplace No
Appliance Dishwasher, Range, Refrigerator
Laundry In Unit
Exterior
Parking Features Attached, Driveway, Garage
Garage Spaces 2.0
Garage Description 2.0
Water Access Desc Public
Roof Type Asphalt,Fiberglass,Shingle
Garage true
Private Pool No
Building
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Midview Lsd - 4710
Others
Tax ID 10-00-004-113-043
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Virtual Tour https://www.zillow.com/view-imx/4c285300-4086-4e4a-a048-1f5eb70eb985/?utm_source=captureapp
