See Home Value
$150,848*
House - Off Market

1659 Lee Road

Cleveland Heights, OH 44118
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1712 Sqft
$136,000 - $166,000
Reference Base Price*
-0.43%
Since Oct 1, 2023
OH-Cleveland
Primary Model
Sold Oct 14, 2021
$91,500
$578,250 by Rcn Capital Llc
Mortgage Due May 01, 2052
Sold Jul 09, 1992
$15,800

About This Property

Nicely updated and maintained Colonial in Cleveland Heights.  It is currently rented (m2m) for $1585 + $220 for water and sewer and, as such, is generating over $21K each year.  As an investment, this property provides a strong Cap Rate and, with property management in place and able to be continued, all you'd have to do is collect $.  All mechanicals are in good working condition:  HWT 2022, Furnace 2022, Roof 2012.  This could also be a great primary residence for an owner-occupant!  Property can be purchased with others that make up a 27-property portfolio.  Buy one, buy some or buy them all!  Property list is available upon request.  POS, with a $5K escrow requirement, is available upon request.  Seller prefers that Buyer assume any violations.

The manager has listed the unit size as 1712 square feet.
Unit Size
1,712Ft²
Days on Market
-
Land Size
-
Price per sqft
$88
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1915

Price History

Date / Event Date Event Price
Sep 15, 2023 No longer available -
No longer available
Aug 26, 2023 Price Decreased $151,500
↓ $5K (3.2%)
Price Decreased
Aug 17, 2023 Price Decreased $156,500
↓ $4K (2.5%)
Price Decreased
Jul 21, 2023 Price Decreased $160,500
↓ $2K (0.9%)
Price Decreased
Jun 8, 2023 Price Decreased $162,000
↓ $5K (3%)
Price Decreased
Show More

Property Highlights

Building Info

Overview

    General

  • Year Built: 1915
  • Effective Year Built: 1962
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Bathroom Plumbing Fixtures: 5
  • Building Condition: Average
  • Building Quality: B
  • Construction Type: Frame
  • Building Style: Colonial
  • Exterior Walls Type: Other
  • Roof Shape Type: Hip
  • Roof Cover Type: Asphalt
  • Floor Count: 2
  • Living Units: 1
  • Basement Type: Unspecified basement
  • Basement Area: 843
  • Garage Type: Detached
  • Garage Square Area: 576
  • Parking Space Count: 2

    Dimensions

  • Lot Size Square Feet: 7,900
  • Lot Size Depth Feet: 1,580
  • Lot Size Frontage Feet: 500
  • Total Building Area: 2,555
  • Gross Building Area: 2,639
  • Building Area: 1,712
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: No air conditioning
  • Heating: Forced air unit
  • Heated Square Feet: 1,712
  • Heating Fuel Type: Gas

    Utilities

  • Sewer System: Storm
  • Water Service: Municipal

Building

  • Property Class: Residential
  • Subdivision: UPL
  • Land Acres: 0.181
  • Standard Land Use Code: Single family residential
  • Legal Description 1: 48 UPLANDS &S/L12 NP 0011 SP

Ownership

  • Current Owner : BONSAI HOLDINGS 2 LLC
  • Previous Owner : LEFKORT LISA J
  • Previous Owner 2: SMITH DOUGLAS
  • Owner Before Previous Owner: ROSENBAUM JEFFREY A
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Cleveland Heights-University Heights City School District
  • School Tax School District: CLEVELAND HTS
  • Census Tract: 140701

Zoning

  • Zoning: A

Geography

  • Assessors Map Reference: 684-32
  • Parcel: 684-32-015
  • Lot: 11
  • Municipality: CLEVELAND HTS.
  • Latitude: 41.5146
  • Longitude: -81.5681

    Address

  • Full Address: 1659 Lee Rd
  • Address - House Number: 1659
  • Address - Street Name: Lee
  • Address - Suffix Type: Rd
  • State: OH
  • City Name: Cleveland
  • Carrier Code: C030
  • 4-Digit Zip Code: 1729
  • Zip Code: 44118

Valuation

    Tax

  • Total Area: 1,712
  • Tax Year: 2022
  • Tax Amount: $6,131
  • Intital Tax Deliquent Year: 2017
  • Tax Rate Code Area: CLEVELAND

    Appraisal Valuation

  • Standard Deviation: 0.1147
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 88
  • Final Value: 157,874
  • High Value: 175,995
  • Low Value: 139,752

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $578,250
  • First Open Lien Mortgage Lender: RCN CAPITAL LLC
  • First Open Lien Mortgage Recording Date: Apr 06, 2022
  • First Open Lien Mortgage Loan Amount: $578,250
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: May 01, 2052

    Market Valuation

  • Market Total Value: $120,600
  • Market Land Value: $30,000
  • Market Improvement Value: $90,600

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $42,210
  • Assessed Land Value: $10,500
  • Assessed Improvements Value: $31,710

    Sales

  • Current Sale Contract Date: Oct 08, 2021
  • Current Sale Recording Date: Oct 14, 2021
  • Current Sale Transaction ID: 11861849028
  • Current Sale Price: $91,500
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 202110140646
  • Previous Sale Recording Date: Jul 09, 1992
  • Previous Sale Contract Date: Jul 09, 1992
  • Previous Sale Amount: $15,800
  • Previous Sale Document Type: Deed

    Last Sale Mortgage

  • First Mortgage Lender: MG REALTY MANAGEMENT
  • First Mortgage Transaction Date: Oct 14, 2021
  • First Mortgage Loan Amount: $89,632
  • First Mortgage Terms: 12
  • First Mortgage Loan Type: Purchase Money Mortgage
  • First Mortgage Loan Due Date: Oct 08, 2022



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
3 Beds
2.5 Baths
1,724 ft²
$104/ft²
$180,000 Jul 15, 2023
-
-
House
3 Beds
1.5 Baths
1,536 ft²
$114/ft²
$175,000 Jun 22, 2023
-
-
House
4 Beds
2.5 Baths
3,149 ft²
$51/ft²
$160,000 Jul 20, 2023
-
-
House
4 Beds
2.5 Baths
-
$179,900 Jun 15, 2023
-
-
Multifamily
6 Beds
2 Baths
2,924 ft²
$56/ft²
$165,000 Jun 10, 2023
-
-
Triplex
7 Beds
3 Baths
3,124 ft²
$61/ft²
$189,900 Jun 19, 2023
-
-

About Cleveland Heights


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Frequently Asked Questions

When was property at 1659 Lee Road built and last sold?
The property at 1659 Lee Road was built in 1915 and last sold on Oct 8, 2021 for $91,500.
How much is this home worth?
The estimated value of the home located at 1659 Lee Road is $160,172.
What are some comparable homes to 1659 Lee Road?
Homes that are comparable to 1659 Lee Road include a house property at 1648 Rydalmount Road, a multifamily property at 1523 Hillcrest Road, a triplex property at 3435 Altamont Avenue.

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