4741 Olivia Way · Lorain, OH 44053

$339,900

4 bd · 2.5 ba · 1,980 sqft · SingleFamily public records · 6 Days on market

Built 2022 5,497 sqft lot Est $341k · at est.

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Why this score? — see what drove the D 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 +12.9/30.0
• ARV discount +7.6/15.0
• Schools +5.9/10.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take advantage of over 11 remaining years of a tax abatement through October 2037, keeping your monthly payment significantly lower than comparable homes! Welcome to 4741 Olivia Way, a like-new home built in 2022 located in the highly desirable Amherst School District. Skip the wait and step into a home that already has the upgrades, space, and finishing touches buyers want. This home offers a bright, open layout with a modern kitchen featuring stainless steel appliances, a large island, and seamless flow into the dining and living areas, perfect for everyday living and entertaining. The LED lighting package throughout adds a clean, updated feel. Upstairs, you'll find four spacious bedrooms, three of which include walk-in closets, providing ample storage and functionality. The primary suite offers a private retreat with a full bath and generous closet space. The full basement is already prepped for future finishing with a bathroom rough-in and subfloor in place, giving buyers a head start on adding additional living space. Outside, enjoy a newer construction neighborhood setting with a clean, well-maintained yard and plenty of room to make it your own. Why build when you can have it all right now? Move-in ready, upgraded, and truly better than new.

Key facts

• 5,497 sq ft lot
• 2 garage spots
• Built 2022

Property features AI

Exterior

• Parking: Attached paved garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Vinyl siding construction
• Exterior features: Asphalt roof; 60 x 110 lot (approx. 0.1515 acres)

Interior

• Kitchen: Microwave, Range, Refrigerator, Dishwasher not listed
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Dryer, Washer, Microwave, Range, Refrigerator; Full basement
• Laundry & utility: Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-23 ($-271/yr) — negative.
• To cash-flow at today's rent, offer at most $336k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (26.0% below list).
• Recommended offer: $252k (26.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities D, health & safety D, crime F.
• Amherst Exempted Village (suburban): math 66% / reading 69% proficiency, ranked #160 of 656 in OH (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Powers Elementary School (math 66% / reading 64%, grade B+, #516 of 1,584 statewide, top 33%, 1,123 students, 28% FRL); Amherst Junior High School (math 65% / reading 68%, grade A-, #172 of 654 statewide, top 27%, 867 students, 31% FRL); Marion L Steele High School (math 48% / reading 78%, grade B-, #199 of 781 statewide, top 25%, 1,039 students, 28% FRL).
• Market conditions: 82 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 45% of the median local income ($67k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $251,609 (26.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $340,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4741 Olivia Way	0.00mi	4/2.5	1,980 (0%)	0mo	$339,900	$172	100
4771 Olivia Way	0.05mi	4/2.5	1,900 (-4%)	0mo	$327,000	$172	91
4497 Bellow Dr	0.11mi	4/2.5	1,920 (-3%)	2mo	$344,000	$179	88
4459 Bellow Dr	0.06mi	4/2.5	2,220 (+12%)	1mo	$358,000	$161	76
3713 Woodworth Dr	0.33mi	4/2.5	2,152 (+9%)	8mo	$310,000	$144	64
3990 Abigail Dr	0.50mi	3/2.5 (-1)	1,920 (-3%)	7mo	$300,000	$156	60
4031 Primrose Way	0.33mi	3/2.0 (-1)	1,748 (-12%)	4mo	$275,000	$157	55
4330 Weathervane Dr	0.72mi	4/3.0	2,132 (+8%)	2mo	$420,000	$197	50
3940 Murdock Dr	0.46mi	3/2.5 (-1)	1,752 (-12%)	6mo	$320,000	$183	49
4522 Lucinda Ct	0.62mi	3/3.0 (-1)	1,786 (-10%)	7mo	$349,000	$195	42
1280 Meadowview Ln	0.70mi	3/2.0 (-1)	1,752 (-12%)	5mo	$305,000	$174	37
2601 W 37th St	0.72mi	3/1.5 (-1)	1,694 (-14%)	7mo	$208,000	$123	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.40×
• Total profit: $-56,689
• Equity at exit: $50,680

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-51,910
• Equity at exit: $29,388

Cash invested: $95,172 (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 44053

• Home prices YoY: -31.3%
• Active inventory: 82
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,516 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$86 /mo · $1,035/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $-23

Break-even live

Break-even rent $2,545

Max offer price $335,905

Occupancy floor 96%

Sensitivity live

Price	-10% $170	-5% $74	+0% $-23	+5% $-119	+10% $-215
Rent	-10% $-221	-5% $-122	+0% $-23	+5% $77	+10% $176
Rate	-1.0pp $149	-0.5pp $64	base $-23	+0.5pp $-111	+1.0pp $-200

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4619 Erhart Dr Lorain, OH	4.0	2.5	1680	$2,895	$1.72	13d	1	0.07mi
4500 Bellow Dr Lorain, OH	5.0	2.5	2200	$2,995	$1.36	45d	1	0.11mi
4500 Bellow Dr Lorain, OH	4.0	2.5	2200	$3,295	$1.50	3d	1	0.11mi
5203 Gargasz Dr Lorain, OH	3.0	2.0	1416	$1,895	$1.34	21d	1	1.33mi

Listing history 9 events

1. 2026-06-07
   statusdays on marketlisting id $339,900 Pending 6 DOM
2. 2026-06-03
   days on market $339,900 Active Under Contract 34 DOM
3. 2026-06-02
   days on market $339,900 Active Under Contract 33 DOM
4. 2026-06-01
   days on market $339,900 Active Under Contract 32 DOM
5. 2026-05-31
   days on market $339,900 Active Under Contract 31 DOM
6. 2026-05-06
   status Pending 1269-char remark

   Show marketing remark (1269 chars)

   Take advantage of over 11 remaining years of a tax abatement through October 2037, keeping your monthly payment significantly lower than comparable homes! Welcome to 4741 Olivia Way, a like-new home built in 2022 located in the highly desirable Amherst School District. Skip the wait and step into a home that already has the upgrades, space, and finishing touches buyers want. This home offers a bright, open layout with a modern kitchen featuring stainless steel appliances, a large island, and seamless flow into the dining and living areas, perfect for everyday living and entertaining. The LED lighting package throughout adds a clean, updated feel. Upstairs, you'll find four spacious bedrooms, three of which include walk-in closets, providing ample storage and functionality. The primary suite offers a private retreat with a full bath and generous closet space. The full basement is already prepped for future finishing with a bathroom rough-in and subfloor in place, giving buyers a head start on adding additional living space. Outside, enjoy a newer construction neighborhood setting with a clean, well-maintained yard and plenty of room to make it your own. Why build when you can have it all right now? Move-in ready, upgraded, and truly better than new.

7. 2026-05-06
   historical Active Under Contract

   Show marketing remark (1269 chars)

   Take advantage of over 11 remaining years of a tax abatement through October 2037, keeping your monthly payment significantly lower than comparable homes! Welcome to 4741 Olivia Way, a like-new home built in 2022 located in the highly desirable Amherst School District. Skip the wait and step into a home that already has the upgrades, space, and finishing touches buyers want. This home offers a bright, open layout with a modern kitchen featuring stainless steel appliances, a large island, and seamless flow into the dining and living areas, perfect for everyday living and entertaining. The LED lighting package throughout adds a clean, updated feel. Upstairs, you'll find four spacious bedrooms, three of which include walk-in closets, providing ample storage and functionality. The primary suite offers a private retreat with a full bath and generous closet space. The full basement is already prepped for future finishing with a bathroom rough-in and subfloor in place, giving buyers a head start on adding additional living space. Outside, enjoy a newer construction neighborhood setting with a clean, well-maintained yard and plenty of room to make it your own. Why build when you can have it all right now? Move-in ready, upgraded, and truly better than new.

8. 2026-04-30
   listed $339,900 Active 1269-char remark

   Show marketing remark (1269 chars)

   Take advantage of over 11 remaining years of a tax abatement through October 2037, keeping your monthly payment significantly lower than comparable homes! Welcome to 4741 Olivia Way, a like-new home built in 2022 located in the highly desirable Amherst School District. Skip the wait and step into a home that already has the upgrades, space, and finishing touches buyers want. This home offers a bright, open layout with a modern kitchen featuring stainless steel appliances, a large island, and seamless flow into the dining and living areas, perfect for everyday living and entertaining. The LED lighting package throughout adds a clean, updated feel. Upstairs, you'll find four spacious bedrooms, three of which include walk-in closets, providing ample storage and functionality. The primary suite offers a private retreat with a full bath and generous closet space. The full basement is already prepped for future finishing with a bathroom rough-in and subfloor in place, giving buyers a head start on adding additional living space. Outside, enjoy a newer construction neighborhood setting with a clean, well-maintained yard and plenty of room to make it your own. Why build when you can have it all right now? Move-in ready, upgraded, and truly better than new.

9. 2026-04-30
   listed $339,900 Active

   Show marketing remark (1269 chars)

   Take advantage of over 11 remaining years of a tax abatement through October 2037, keeping your monthly payment significantly lower than comparable homes! Welcome to 4741 Olivia Way, a like-new home built in 2022 located in the highly desirable Amherst School District. Skip the wait and step into a home that already has the upgrades, space, and finishing touches buyers want. This home offers a bright, open layout with a modern kitchen featuring stainless steel appliances, a large island, and seamless flow into the dining and living areas, perfect for everyday living and entertaining. The LED lighting package throughout adds a clean, updated feel. Upstairs, you'll find four spacious bedrooms, three of which include walk-in closets, providing ample storage and functionality. The primary suite offers a private retreat with a full bath and generous closet space. The full basement is already prepped for future finishing with a bathroom rough-in and subfloor in place, giving buyers a head start on adding additional living space. Outside, enjoy a newer construction neighborhood setting with a clean, well-maintained yard and plenty of room to make it your own. Why build when you can have it all right now? Move-in ready, upgraded, and truly better than new.

ⓘ 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: $1,035 · $86/mo
• Projected year-2 tax: $3,169 · $264/mo
• Expected delta: +$2,134/yr (+$178/mo · 206.2%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,193
• − Mortgage interest: −$19,040
• − Property taxes: −$1,035
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,415
• − Management: −$2,415
• − Depreciation: −$9,888
• Taxable loss: −$6,300
• Est. tax savings @ 24.0%: +$1,512
• After-tax cash flow: $1,241/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: Amherst Exempted Village
• NCES district ID: 3904519
• Math proficiency: 66% ▼ -15.00%
• Reading proficiency: 69% ▼ -11.00%
• Median HH income: $63,459
• Composite: 58.58/100
• National rank: #988
• State rank: #160 of 656 in OH

Livability — Lorain

• Score: 67/100
• State rank: #595
• US rank: #10183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lorain, OH
• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 21,084
• Household income: $67,484
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 921.0

Population outlook (Lorain County) Hauer SSP2

• Today (2025): 314,924 people
• By 2030: 317,546 · +0.8%
• By 2040: 317,962 · +1.0%
• By 2050: 312,872 · -0.7%
• By 2075: 301,806 · -4.2%
• By 2100: 278,271 · -11.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 22% Two or more races 14% Black 11%
• Hispanic origin (detail): Mexican 4% Puerto Rican 16% Cuban 2%
• Common ancestry: Romanian 8% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 90% English-only · Spanish 8% Russian/Polish/Slavic 1%

Political lean MEDSL · Lorain

• 2024 margin: Lean R (+5.7) · D 46.7% · R 52.4%
• 2008→2024 swing: -23.6pp toward R · 2008: 17.9pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+2.5 2016: R+0.3 2012: D+14.4 2008: D+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 199.4591
• Rent YoY: —
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-06 Pending — MLSNOW
• 2026-05-06 Contingent — FAOR
• 2026-04-30 Listed $339,900 FAOR
• 2026-04-30 Listed $339,900 MLSNOW

Property tax history

+10.5%/yr

Latest (2025): $1,035 · +1.6% YoY. Source: county tax records.