534 Eagle St · Fairport Harbor, OH 44077

$214,999

4 bd · 2.0 ba · 2,128 sqft · MultiFamily public records · 67 Days on market

Built 1910 7,853 sqft lot $101/sqft · at area comps Est $206k · at est.

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.1/30.0
• DSCR +7.8/10.0
• 1% rule +6.5/10.0
• ARV discount +5.5/15.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Tenant occupied duplex in the heart of Fairport Harbor. Large updates include new Siding, roof, gutters and chimney repair in 2022, new hot water tank (up) 2026, Paint touchups and blinds. The first floor unit has attached covered front porch, hardwood floors, walk in pantry, 2 large bedrooms and private access to the full unfinished basement. The second floor unit has a similar layout as the first floor and has access to the large attic that has ample storage space. Great potential for passive income! Call today for a private showing.

Key facts

• New siding
• New hot water tank
• New gutters

Tags

• NEW SIDING
• NEW ROOF
• NEW GUTTERS
• CHIMNEY REPAIR
• NEW HOT WATER TANK
• ATTACHED COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive. Per door: $212/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#446 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D, amenities F.
• Fairport Harbor Exempted Village (suburban): math 26% / reading 45% proficiency, ranked #558 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 267 active listings in the ZIP; solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $135k; list at $215k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,099 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.46%
• DSCR: 1.38
• GRM: 7.3

CMA / ARV

• ARV (median comp): $205,653
• List price: $214,999
• Delta: 4.54%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 Independence St	0.12mi	4/2.0	2,035 (-4%)	4mo	$239,000	$117	84
613 High St	0.12mi	4/2.0	1,928 (-9%)	10mo	$238,000	$123	71
306 New St	0.21mi	3/2.0 (-1)	1,808 (-15%)	22mo	$185,000	$102	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-6,051
• Equity at exit: $32,057

10-year hold

• IRR: 7.8%
• Equity multiple: 1.61×
• Total profit: $36,866
• Equity at exit: $18,589

Cash invested: $60,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 44077

• Rents YoY: 3.7%
• Active inventory: 267
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,471 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$311 /mo · $3,729/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $424

Break-even live

Break-even rent $1,934

Max offer price $214,999

Occupancy floor 78%

Sensitivity live

Price	-10% $546	-5% $485	+0% $424	+5% $363	+10% $303
Rent	-10% $229	-5% $327	+0% $424	+5% $522	+10% $619
Rate	-1.0pp $533	-0.5pp $479	base $424	+0.5pp $369	+1.0pp $312

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,472
Total (2 units)			$2,471

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $214,999 Active 67 DOM
2. 2026-06-17
   days on market $214,999 Active 66 DOM
3. 2026-06-16
   days on market $214,999 Active 65 DOM
4. 2026-06-15
   days on market $214,999 Active 64 DOM
5. 2026-06-13
   days on market $214,999 Active 62 DOM
6. 2026-06-13
   days on market $214,999 Active 61 DOM
7. 2026-06-09
   days on market $214,999 Active 58 DOM
8. 2026-06-08
   days on market $214,999 Active 57 DOM
9. 2026-06-07
   days on market $214,999 Active 56 DOM
10. 2026-06-05
    days on market $214,999 Active 53 DOM
11. 2026-06-03
    days on market $214,999 Active 52 DOM
12. 2026-06-02
    days on market $214,999 Active 51 DOM
13. 2026-06-01
    days on market $214,999 Active 50 DOM
14. 2026-05-31
    days on market $214,999 Active 49 DOM
15. 2026-04-11
    listed $214,999 Active 541-char remark

    Show marketing remark (541 chars)

    Tenant occupied duplex in the heart of Fairport Harbor. Large updates include new Siding, roof, gutters and chimney repair in 2022, new hot water tank (up) 2026, Paint touchups and blinds. The first floor unit has attached covered front porch, hardwood floors, walk in pantry, 2 large bedrooms and private access to the full unfinished basement. The second floor unit has a similar layout as the first floor and has access to the large attic that has ample storage space. Great potential for passive income! Call today for a private showing.

16. 2025-07-28
    historical $1,050
17. 2025-06-17
    listed $1,050
18. 2021-11-15
    soldstatus $135,000 Closed 462-char remark

    Show marketing remark (462 chars)

    Close to downtown Fairport Harbor, Great 2 family home, live in one unit and rent the other! Many updates - unit up has new forced air furnace, fresh paint, refinished floors, and some new light fixtures and side porch on first level. First floor unit has new boiler, fresh paint, newer carpet, new stove and some new light fixtures and enclosed front porch, New liner in chimney, basement walls sealed, Large corner lot! Building is in need of exterior paint.

19. 2021-11-02
    status Pending 462-char remark

    Show marketing remark (462 chars)

    Close to downtown Fairport Harbor, Great 2 family home, live in one unit and rent the other! Many updates - unit up has new forced air furnace, fresh paint, refinished floors, and some new light fixtures and side porch on first level. First floor unit has new boiler, fresh paint, newer carpet, new stove and some new light fixtures and enclosed front porch, New liner in chimney, basement walls sealed, Large corner lot! Building is in need of exterior paint.

20. 2021-10-19
    price $145,900 462-char remark

    Show marketing remark (462 chars)

    Close to downtown Fairport Harbor, Great 2 family home, live in one unit and rent the other! Many updates - unit up has new forced air furnace, fresh paint, refinished floors, and some new light fixtures and side porch on first level. First floor unit has new boiler, fresh paint, newer carpet, new stove and some new light fixtures and enclosed front porch, New liner in chimney, basement walls sealed, Large corner lot! Building is in need of exterior paint.

21. 2021-10-13
    status Active 462-char remark

    Show marketing remark (462 chars)

    Close to downtown Fairport Harbor, Great 2 family home, live in one unit and rent the other! Many updates - unit up has new forced air furnace, fresh paint, refinished floors, and some new light fixtures and side porch on first level. First floor unit has new boiler, fresh paint, newer carpet, new stove and some new light fixtures and enclosed front porch, New liner in chimney, basement walls sealed, Large corner lot! Building is in need of exterior paint.

22. 2021-09-14
    historical Contingent 462-char remark

    Show marketing remark (462 chars)

    Close to downtown Fairport Harbor, Great 2 family home, live in one unit and rent the other! Many updates - unit up has new forced air furnace, fresh paint, refinished floors, and some new light fixtures and side porch on first level. First floor unit has new boiler, fresh paint, newer carpet, new stove and some new light fixtures and enclosed front porch, New liner in chimney, basement walls sealed, Large corner lot! Building is in need of exterior paint.

23. 2021-08-31
    listed $149,900 Active 462-char remark

    Show marketing remark (462 chars)

    Close to downtown Fairport Harbor, Great 2 family home, live in one unit and rent the other! Many updates - unit up has new forced air furnace, fresh paint, refinished floors, and some new light fixtures and side porch on first level. First floor unit has new boiler, fresh paint, newer carpet, new stove and some new light fixtures and enclosed front porch, New liner in chimney, basement walls sealed, Large corner lot! Building is in need of exterior paint.

24. 2018-07-26
    soldstatus $98,500 Sold
25. 2018-07-26
    soldstatus $98,500
26. 2018-06-11
    status Pending
27. 2018-05-30
    historical Contingent
28. 2018-04-11
    listed $124,900 Active
29. 2018-03-14
    historical
30. 2017-09-06
    listed $136,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $3,729 · $311/mo
• Projected year-2 tax: $3,729 · $311/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,652
• − Mortgage interest: −$12,043
• − Property taxes: −$3,729
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,372
• − Management: −$2,372
• − Depreciation: −$6,255
• Taxable income: $1,806
• Est. tax owed @ 24.0%: −$433
• After-tax cash flow: $4,658/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fairport Harbor Exempted Village
• NCES district ID: 3904536
• Math proficiency: 26% ▼ -16.00%
• Reading proficiency: 45% ▼ -13.00%
• Median HH income: $46,266
• Composite: 30.33/100
• National rank: #6270
• State rank: #558 of 656 in OH

Livability — Fairport Harbor

• Score: 71/100
• State rank: #446
• US rank: #7313

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C- Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairport Harbor, OH
• County: Lake County · 204,927 people
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 57,325
• Household income: $85,056
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1333.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.05%
• Current HPI: 181.2976
• Rent YoY: ▲ 3.68%
• Metro: Cleveland-Elyria, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+57.0% since first listed

16 events — show timeline

• 2026-04-11 Listed $214,999 MLSNOW
• 2025-07-28 Rental Removed $1,050 YESMLS
• 2025-06-17 Listed for Rent $1,050 YESMLS
• 2021-11-15 Sold (MLS) $135,000 MLSNOW
• 2021-11-02 Pending — MLSNOW
• 2021-10-19 Price Changed $145,900 MLSNOW
• 2021-10-13 Relisted — MLSNOW
• 2021-09-14 Contingent — MLSNOW
• 2021-08-31 Listed $149,900 MLSNOW
• 2018-07-26 Sold (Public Records) $98,500 Public Records
• 2018-07-26 Sold (MLS) $98,500 MLSNOW
• 2018-06-11 Pending — MLSNOW
• 2018-05-30 Contingent — MLSNOW
• 2018-04-11 Listed $124,900 MLSNOW
• 2018-03-14 Listing Removed — MLSNOW
• 2017-09-06 Listed $136,900 MLSNOW

Property tax history

+6.3%/yr

Latest (2025): $3,729 · +4.3% YoY. Source: county tax records.