This home's estimate is 4.2% lower than the average sale price ($435K) of 6 comparable homes.
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38973 Butternut Ridge Rd, Elyria, OH 44035
About this home
Opportunity Knocks !! Rare opportunity to own this one-of-a-kind property in Carlisle Twp. Situating on over 2+ acres this property consists of a 4 bed/2 bath main house with a 2-car garage and 4-1 bedroom cottage homes. All 4 cottages were totally renovated down to the studs approximately 18 years ago. Main home is very spacious with large eat-in kitchen and living room. Generous sized bedrooms. Full bath on main and upstairs floor. Cottages range in size from 384-672 square feet. Would make a great Airbnb opportunity. Tenants pay gas and electric. Owner pays taxes, refuse, city water and maintenance of water filtration system/septic. The lot is picturesque and and backs up to the Black River. Truly breathtaking views. All 5 units are rented. Main house currently rents for $860 per month and each cottage $645. Long-term tenant in main house, rents could be higher. Don't miss out !
Redfin Estimate
Market trends in 44035, OH
Last updated September 2026
Buyer's Market
Seller's Market
Seller's market
- NEW 32 HRS AGO
122 Fairlawn Ave, Elyria, OH 44035 - NEW 32 HRS AGO
676 Lucille Dr, Elyria, OH 44035 - NEW 34 HRS AGO
11038 White Ave, Elyria, OH 44035 See all
Provided by Redfin
Sale history for 38973 Butternut Ridge Rd
$55/sq ft
$49/sq ft
$22/sq ft
$22/sq ft

Bank Owned Reo * Double With 3 Freestanding 1 Bedroom Units * 4th Unit Has Been Gutted * Outstanding Opportunity * E-z To Show *
Tax history for 38973 Butternut Ridge Rd
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Property details
Parking
- Garage/Carport Information
- Has Garage
- # of Garage Spaces: 2
- Parking
- Features: Detached, Garage, Paved
Interior
- Virtual Tour
- Bathroom Information
- # of Full Bathrooms: 6
- Room Information
- # of Rooms (Total): 16
- Basement Information: Partial
- Laundry Information
- Features: In Unit
- Multi Unit Information
- # Of Units Total: 5
- # Of Buildings: 5
- Multi Unit Financial Information
- Gross Income: $41,280
Exterior
- Building Information
- Roof Details: Asphalt, Fiberglass
- Construction Details: Vinyl Siding
- Lot Information
- Lot Size Area: 2.27
- Lot Size Acres: 2.27
- Lot Size Source: Assessor
- Lot Features: Wooded
- Is Waterfront
- Waterfront Features: River Front
- Frontage Type: River
- Property Information
- Has View
- Above Grade Finished Area: 4,024
- Above Grade Finished Area Source: Assessor
Financial
- Tax Information
- Annual Tax Amount: $5,773
- Rental Information
- Owner Pays: Other, Sewer, Trash Collection, Water
- Tenant Pays: Cable TV, Electricity, Gas, Heat
Utilities
- Utility Information
- Sewer: Private Sewer, Septic Tank
- Water Source: Public
- Heating & Cooling
- Cooling: Wall Unit(s)
- Has Heating
- Heating: Electric, Forced Air, Gas, Radiator(s)
Public facts
- Beds: 3
- Baths: 2.0
- Sq. Ft.: 1,924
- Stories: 1.5
- Lot Size: 2.27 acres
- Style: Multi-Family (5+ Unit)
- Year Built: 1900
- Year Renovated: 2000
- County: Lorain County
- APN: 1000006120012
Around this home
Schools
Public K-2 • Assigned • 2.1mi
Public 7-8 • Assigned • 2.1mi
Public 9-12 • Assigned • 1.9mi
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
Minimal risk of a flood reaching the building in the next 30 years
Unlikely to be in a wildfire in next 30 years
7 days above 98° expected this year, 16 days in 30 years
Minimal risk of severe winds over next 30 years
1 unhealthy days expected this year, 2 days in 30 years
Sun exposure
In this area, properties receive around 9.2 hours in June and 2.2 hours in December, placing it below the U.S. average for solar exposure.
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Home values near 38973 Butternut Ridge Rd
| Address | Redfin Estimate |
|---|---|
3 Beds | 2 Baths | 2313 Sq. Ft. | $301,137 |
3 Beds | 1.5 Baths | 1300 Sq. Ft. | $322,574 |
| Address | Redfin Estimate |
|---|---|
2 Beds | 1 Baths | - Sq. Ft. | $231,628 |
3 Beds | 2 Baths | 1500 Sq. Ft. | $291,092 |
| Address | Redfin Estimate |
|---|---|
3 Beds | 3 Baths | - Sq. Ft. | $395,520 |
3 Beds | 1 Baths | 1049 Sq. Ft. | $240,962 |
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