6426 Southgrove Rd · Mentor, OH 44060

$210,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 3 Days on market

Built 1958 0.36 ac lot Est $164k · 28% over

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Why this score? — see what drove the F 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 +11.6/30.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• DSCR +3.4/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming brick-front ranch with a park-like backyard on a quiet dead end street! Remodeled kitchen with newer Solid oak cabinetry featuring custom pull out drawers! Living room/dining room combination great for entertaining! The dining rm walks out to a gorgeous 3-season sunroom with nature stone flooring. The sunroom leads to a nice concrete patio and a beautiful, partially fenced in backyard with a large storage shed. The bathroom has been remodeled over the years and features a nice glass shower. Other updates include: furnace/AC in 2017 & HWT 2015. Great home won’t Last!

Key facts

• Attached garage
• Large seasonal room
• First-floor laundry

Tags

• QUIET NO-OUTLET STREET
• SPACIOUS LIVING ROOM
• LARGE SEASONAL ROOM
• FIRST-FLOOR LAUNDRY
• ATTACHED GARAGE
• GENEROUSLY SIZED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-64 ($-769/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (20.4% below list).
• Recommended offer: $167k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.7% in Mentor — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#53 in OH, #739 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, cost of living A+; Watch: amenities D, commute F.
• Mentor Exempted Village (suburban): math 58% / reading 70% proficiency, ranked #201 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.5%/yr); 266 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 26y 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 $180k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,080 (20.4% 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. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $164,304
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6426 Southgrove Rd	0.00mi	3/1.0	1,008 (0%)	1mo	$216,000	$214	99
6432 Ambrose Dr	0.12mi	3/1.0	961 (-5%)	2mo	$220,000	$229	85
6399 Seminole Trl	0.25mi	3/1.0	1,010 (+0%)	4mo	$135,000	$134	84
635 Tioga Trl	0.62mi	4/1.0 (+1)	1,000 (-1%)	1mo	$100,000	$100	64
766 Cherokee Trl	0.49mi	3/1.5	1,080 (+7%)	3mo	$100,000	$93	61
6598 Seneca Trl	0.40mi	3/1.0	864 (-14%)	2mo	$137,500	$159	56
7506 Jeremy Ave	0.66mi	3/2.0	1,052 (+4%)	3mo	$313,000	$298	56
6247 Seneca Trl	0.41mi	3/1.0	912 (-10%)	12mo	$120,220	$132	55
7275 Eric Dr	0.62mi	3/1.5	1,056 (+5%)	11mo	$230,000	$218	52
1171 Garden Rd	0.53mi	3/1.5	1,135 (+13%)	3mo	$185,000	$163	50
1053 Eaglewood Dr	0.73mi	2/1.0 (-1)	1,060 (+5%)	8mo	$116,000	$109	45
919 Eaglewood Dr	0.74mi	2/1.0 (-1)	880 (-13%)	9mo	$169,000	$192	32

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 · 5.54% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.43×
• Total profit: $-33,751
• Equity at exit: $31,312

10-year hold

• IRR: -3.7%
• Equity multiple: 0.73×
• Total profit: $-15,787
• Equity at exit: $18,157

Cash invested: $58,800 (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 44060

• Rents YoY: 5.5%
• Active inventory: 266
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$195 /mo · $2,343/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-64

Break-even live

Break-even rent $1,752

Max offer price $198,674

Occupancy floor 99%

Sensitivity live

Price	-10% $55	-5% $-5	+0% $-64	+5% $-124	+10% $-183
Rent	-10% $-196	-5% $-130	+0% $-64	+5% $2	+10% $68
Rate	-1.0pp $42	-0.5pp $-11	base $-64	+0.5pp $-119	+1.0pp $-174

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6247 Seneca Rd Mentor, OH	3.0	1.0	912	$1,750	$1.92	3d	1	0.43mi
6177 Iroquois Trl Mentor, OH	3.0	1.0	1116	$1,700	$1.52	3d	1	0.59mi
38280 North Ln Unit J-208 Willoughby, OH	3.0	2.0	1100	$1,400	$1.27	25d	1	1.18mi
38280 North Ln Unit H-206 Willoughby, OH	3.0	2.0	1100	$1,400	$1.27	45d	1	1.18mi
38360 Tamarac Blvd Willoughby, OH	1.0–2.0	1.0–2.0	950	$1,835	$1.93	3d	29	1.24mi
5950 Andrews Rd Mentor on the Lake, OH	2.0	1.0	888	$1,025	$1.15	45d	1	1.44mi
5950 Andrews Rd Unit 8 Mentor-On-The-Lake, OH	2.0	1.0	888	$1,100	$1.24	45d	1	1.44mi

Listing history 10 events

1. 2026-04-26
   status Pending
2. 2026-04-23
   listed $210,000 Active
3. 2023-07-20
   soldstatus $180,000 Closed 594-char remark

   Show marketing remark (594 chars)

   Charming brick-front ranch with a park-like backyard on a quiet dead end street! Remodeled kitchen with newer Solid oak cabinetry featuring custom pull out drawers! Living room/dining room combination great for entertaining! The dining rm walks out to a gorgeous 3-season sunroom with nature stone flooring. The sunroom leads to a nice concrete patio and a beautiful, partially fenced in backyard with a large storage shed. The bathroom has been remodeled over the years and features a nice glass shower. Other updates include: furnace/AC in 2017 & HWT 2015. Great home won’t Last!

4. 2023-06-28
   status Pending 594-char remark

   Show marketing remark (594 chars)

   Charming brick-front ranch with a park-like backyard on a quiet dead end street! Remodeled kitchen with newer Solid oak cabinetry featuring custom pull out drawers! Living room/dining room combination great for entertaining! The dining rm walks out to a gorgeous 3-season sunroom with nature stone flooring. The sunroom leads to a nice concrete patio and a beautiful, partially fenced in backyard with a large storage shed. The bathroom has been remodeled over the years and features a nice glass shower. Other updates include: furnace/AC in 2017 & HWT 2015. Great home won’t Last!

5. 2023-06-19
   historical Contingent 594-char remark

   Show marketing remark (594 chars)

   Charming brick-front ranch with a park-like backyard on a quiet dead end street! Remodeled kitchen with newer Solid oak cabinetry featuring custom pull out drawers! Living room/dining room combination great for entertaining! The dining rm walks out to a gorgeous 3-season sunroom with nature stone flooring. The sunroom leads to a nice concrete patio and a beautiful, partially fenced in backyard with a large storage shed. The bathroom has been remodeled over the years and features a nice glass shower. Other updates include: furnace/AC in 2017 & HWT 2015. Great home won’t Last!

6. 2023-06-13
   price $179,900 594-char remark

   Show marketing remark (594 chars)

   Charming brick-front ranch with a park-like backyard on a quiet dead end street! Remodeled kitchen with newer Solid oak cabinetry featuring custom pull out drawers! Living room/dining room combination great for entertaining! The dining rm walks out to a gorgeous 3-season sunroom with nature stone flooring. The sunroom leads to a nice concrete patio and a beautiful, partially fenced in backyard with a large storage shed. The bathroom has been remodeled over the years and features a nice glass shower. Other updates include: furnace/AC in 2017 & HWT 2015. Great home won’t Last!

7. 2023-06-06
   listed $189,900 Active 594-char remark

   Show marketing remark (594 chars)

   Charming brick-front ranch with a park-like backyard on a quiet dead end street! Remodeled kitchen with newer Solid oak cabinetry featuring custom pull out drawers! Living room/dining room combination great for entertaining! The dining rm walks out to a gorgeous 3-season sunroom with nature stone flooring. The sunroom leads to a nice concrete patio and a beautiful, partially fenced in backyard with a large storage shed. The bathroom has been remodeled over the years and features a nice glass shower. Other updates include: furnace/AC in 2017 & HWT 2015. Great home won’t Last!

8. 2000-04-28
   soldstatus $114,000 167-char remark

   Show marketing remark (167 chars)

   Gardeners Dream Home Back Yrd In Spring Time Is Beautiful Newer Roof/Furnance * Very Tastefully Decorated * Great Starter Home On Quiet Cul De Sac St. Home Warranty

9. 2000-04-26
   soldstatus $114,000
10. 2000-02-28
    listed $115,000 167-char remark

    Show marketing remark (167 chars)

    Gardeners Dream Home Back Yrd In Spring Time Is Beautiful Newer Roof/Furnance * Very Tastefully Decorated * Great Starter Home On Quiet Cul De Sac St. Home Warranty

ⓘ 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: $2,343 · $195/mo
• Projected year-2 tax: $2,810 · $234/mo
• Expected delta: +$466/yr (+$39/mo · 19.9%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,050
• − Mortgage interest: −$11,763
• − Property taxes: −$2,343
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$6,109
• Taxable loss: −$4,424
• Est. tax savings @ 24.0%: +$1,062
• After-tax cash flow: $292/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: Mentor Exempted Village
• NCES district ID: 3904549
• Math proficiency: 58% ▼ -17.00%
• Reading proficiency: 70% ▼ -9.00%
• Median HH income: $64,267
• Composite: 55.71/100
• National rank: #1221
• State rank: #201 of 656 in OH

Livability — Mentor

• Score: 84/100
• State rank: #53
• US rank: #739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mentor, OH
• County: Lake County · 204,927 people
• City population: 60,779
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 60,779
• Household income: $87,599
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 883.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 7% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 93% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 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: ▼ -203.36%
• Current HPI: 188.9887
• Rent YoY: ▲ 5.54%
• 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

+82.6% since first listed

10 events — show timeline

• 2026-04-26 Pending — MLSNOW
• 2026-04-23 Listed $210,000 MLSNOW
• 2023-07-20 Sold (MLS) $180,000 MLSNOW
• 2023-06-28 Pending — MLSNOW
• 2023-06-19 Contingent — MLSNOW
• 2023-06-13 Price Changed $179,900 MLSNOW
• 2023-06-06 Listed $189,900 MLSNOW
• 2000-04-28 Sold (MLS) $114,000 MLSNOW
• 2000-04-26 Sold (Public Records) $114,000 Public Records
• 2000-02-28 Listed $115,000 MLSNOW

Property tax history

+3.7%/yr

Latest (2025): $2,343 · -2.6% YoY. Source: county tax records.