Property Description

Stylishly rehabbed triplex is conveniently located minutes from Downtown Cleveland, Cleveland State University and The Cleveland Clinic's main campus. Completely remodeled 3-unit in 44103 has been grossing $3,500/month or $42,000/year! This property EASILY beats the 1% Rule and 10-Cap benchmark. Everything is new, from the roof, siding, vinyl windows, and new concrete parking pads and driveway to mechanicals and interior finishes. There are two units on the ground floor, each with 2-bedrooms and 1 bath. The entire second floor is a 3-bedroom unit with 2 FULL bathrooms and a covered porch. All three kitchens have new cabinets with granite counters and newer stainless steel appliances including fridge/freezer, range, dishwasher and microwave. Each of the three units has Central AC and in-unit washers and dryers. Owners pay all utilities and charge tenants a flat monthly fee. Total utility fees were generating $310/month when fully occupied. LEAD CERTIFICATE valid through April 2027.

1615 E 47th Street | MLS# 5194288

This multi-family property located at 1615 E 47th Street, Cleveland, OH 44103 is currently listed for sale with an asking price of $255,000. E 47th Street is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on 486royeravenuenw.cutlerhomes.com today.

Property Features

Property Type: Multi Unit - Multiple

Basement: Full, Unfinished

Basement: Yes

Cooling: Central Air

Days on Market: 2

Heating: Forced Air

Lot Size: 0.10 Acres

Roof Type: Asphalt, Fiberglass

Stories: 2.0

Taxes: $925 / year

Year Built: 1880

Feature Descriptions

Appliances: Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer

Exterior: Vinyl Siding

Laundry: In Unit

Parcel#: 104-25-069

Parking: Parking Lot, Parking Pad

Security: Carbon Monoxide Detector(s), Smoke Detector(s)

Sewer: Public Sewer

Water: Public

Local Schools

School District: Cleveland Municipal - 1809

Demographics

Cuyahoga County Demographic Information for 1615 E 47th Street, Cleveland, OH 44103

Fips

Fips Code 39035

Population

2020 to 2023 Change down 2.5%

2010 Count 1,280,122

2020 Count 1,264,817

2023 Estimate (V2023) 1,233,088

2020 Estimate (V2023) 1,264,775

Age Distribution (Years Old)

0 to 4 5.3%

5 to 17 20.3%

18 to 64 54.8%

65 and Older 19.6%

Gender

Male 48.1%

Female 51.9%

Place of Birth

Foreign 7.6%

US 92.4%

Education

High School Graduate, Age 25+ 90.9%

Bachelor's Degree or Higher, Age 25+ 35.2%

Computer and Internet use

Households with a computer 92.0%

Households with a broadband Internet subscription 85.7%

Language

English is Second Language, Age 5+ 12.3%

English is First Language, Age 5+ 87.7%

Veterans

Veterans 60,427

Income

Per Capita Income $39,807

Median Household Income $60,074

People in Poverty 16.6%

Commute

Average Work Commute Time 24 minutes

Housing

Total Housing Units 615,116

Households 552,421

Average Household Size 2.23

Owner-Occupied 58.4%

Multi-Family 34.9%

Owner-Occupied Median Value $168,700

Median selected monthly owner costs -with a mortgage $1,472

Median selected monthly owner costs -without a mortgage $630

Median gross rent $952

Building Permits

New Private Housing Issued 2023 1,028

Years at Residence

1 Year or More 86.1%

Less Than 1 Year 13.9%

Business and Employment

Private non-farm Establishments 31,738

Private non-farm Employment 631,443

Private non-farm Employment Growth up 0.7%

Nonemployer Establishments 105,877

Number of Firms 114,192

Business Production

Value of Shipments $23,225,392,000

Wholesale Trade $24,854,217,000

Retail Trade $16,920,714,000

Retail Sales Per Capita $11,914

Accommodation and Food Services $3,332,698,000

Land

Land Area 457.19 sq. miles

Population Per Square Mile 2,800

Source: US Census Bureau

Estimate Your Payment

Estimated Payment

$ 1,395.60 per month $1,244.15 Principal & Interest $77.08 Property Tax $74.38 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 03/24/2026. The listing information on this page last changed on 03/24/2026. 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 Tue 03/24/2026 1:00:02 AM EST) or Dayton MLS (last updated Mon 03/23/2026 11:46:33 PM EST) or CBRMLS (last updated Tue 03/24/2026 12:44:24 AM EST) or Multiple Listing Service of Greater Cincinnati (last updated Mon 03/23/2026 11:53:23 PM EST) or NKY MLS (last updated Mon 03/23/2026 11:28:22 PM EST) or Wrist MLS (last updated Mon 03/23/2026 11:24:20 PM EST) or Firelands MLS (last updated Mon 03/23/2026 11:11:18 PM EST) or MLS NOW (last updated Tue 03/24/2026 12:17:28 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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1615 E 47th StreetCleveland, OH 44103