124 E 32nd St · Lorain, OH 44055

$99,900

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 74 Days on market

Built 1920 7,405 sqft lot $77/sqft · at area comps Est $102k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• ARV discount +8.6/15.0
• 1% rule +7.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in Ready Home. The home is currently Tenant Occupied. Pleaase contact agent for scheduling appointments. The home has been owned by the original owner for over 8 years. Drive by to take a look at the home to see how adorable it is. Showings will only be on Saturday. No Realtor sign in yard.

Key facts

• 7,405 sq ft lot
• Built 1920
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.7% in Lorain — 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 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities D, health & safety D.
• Lorain City (suburban): math 13% / reading 26% proficiency, ranked #633 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 38% of the median local income ($41k/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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 32y 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 $62k; list at $100k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.29% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 6.4

CMA / ARV

• ARV (median comp): $102,397
• List price: $99,900
• Delta: -2.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3225 Broadway	0.06mi	3/1.0	1,440 (+11%)	5mo	$130,000	$90	75
115 W 30th St	0.17mi	3/2.0	1,404 (+8%)	0mo	$110,000	$78	74
719 E 34th St	0.32mi	3/1.5	1,326 (+2%)	7mo	$134,000	$101	74
125 E 30th St	0.16mi	3/1.5	1,137 (-12%)	2mo	$136,800	$120	68
127 E 35th St	0.17mi	4/2.0 (+1)	1,404 (+8%)	1mo	$95,000	$68	68
213 W 23rd St	0.59mi	3/2.0	1,328 (+2%)	5mo	$164,000	$123	60
2349 Kelly Pl	0.58mi	3/1.0	1,164 (-10%)	1mo	$110,210	$95	56
2623 Elyria Ave	0.35mi	3/1.0	1,109 (-14%)	6mo	$55,000	$50	55
3869 Dayton Ave	0.58mi	3/2.0	1,410 (+9%)	1mo	$200,000	$142	54
206 W 29th St	0.28mi	4/2.0 (+1)	1,456 (+12%)	6mo	$90,000	$62	52
230 W 39th St	0.51mi	4/1.0 (+1)	1,480 (+14%)	1mo	$190,000	$128	47
215 Jefferson St	0.66mi	3/2.5	1,190 (-8%)	6mo	$201,600	$169	45

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: 7.0%
• Equity multiple: 1.27×
• Total profit: $7,603
• Equity at exit: $14,895

10-year hold

• IRR: 16.3%
• Equity multiple: 2.33×
• Total profit: $37,236
• Equity at exit: $8,638

Cash invested: $27,972 (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 44055

• Home prices YoY: -30.5%
• Active inventory: 84
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,293 high
• Mortgage (P&I): −$524
• Tax from tax record: −$82 /mo · $984/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $374

Break-even live

Break-even rent $820

Max offer price $99,900

Occupancy floor 66%

Sensitivity live

Price	-10% $430	-5% $402	+0% $374	+5% $345	+10% $317
Rent	-10% $272	-5% $323	+0% $374	+5% $425	+10% $476
Rate	-1.0pp $424	-0.5pp $399	base $374	+0.5pp $348	+1.0pp $321

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3132 Elyria Ave Lorain, OH	3.0	1.5	1109	$1,250	$1.13	44d	1	0.11mi
117 W 30th St Lorain, OH	2.0	1.0	1344	$925	$0.69	44d	1	0.20mi
612 E 33rd St Lorain, OH	3.0	1.0	960	$995	$1.04	44d	1	0.23mi
2909 Denver Ave Lorain, OH	3.0	1.0	1597	$1,400	$0.88	44d	1	0.31mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	44d	1	0.33mi
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	44d	1	0.39mi
509 W 24th St Lorain, OH	2.0	1.0	1036	$1,400	$1.35	44d	1	0.64mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	44d	1	0.70mi
944 S Central Dr Lorain, OH	3.0	1.0	950	$1,250	$1.32	24d	1	0.85mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	24d	1	0.90mi
2307 Washington Ave Lorain, OH	1.0–3.0	1.0	880	$1,499	$1.70	2d	1	0.96mi
1639 E 31st St Unit 1637 Lorain, OH	3.0	1.0	1500	$1,200	$0.80	44d	1	0.99mi
1637 E 29th St Lorain, OH	2.0	1.0	1200	$979	$0.82	15d	1	0.99mi
939 W 22nd St Lorain, OH	3.0	1.0	950	$1,295	$1.36	44d	1	1.01mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	24d	1	1.05mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	4d	1	1.11mi
521 W 14th St Lorain, OH	3.0	1.0	968	$950	$0.98	44d	1	1.19mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	44d	1	1.20mi
1730 E 30th St Unit 1730 Lorain, OH	3.0	1.0	1120	$1,250	$1.12	44d	1	1.22mi
4850 Oneil Blvd Lorain, OH	2.0–3.0	1.0–1.5	981	$915	$0.93	2d	1	1.27mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	5d	1	1.37mi
1813 E 30th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	44d	1	1.42mi
1818 E 29th St Unit 1816 Lorain, OH	3.0	1.0	1098	$1,195	$1.09	44d	1	1.44mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	24d	1	1.46mi
1053 Washington Ave Unit 4 Lorain, OH	3.0	1.0	1000	$899	$0.90	44d	1	1.48mi
1037 Washington Ave Lorain, OH	4.0	2.0	1567	$1,600	$1.02	18d	1	1.50mi

Listing history 26 events

1. 2026-06-21
   days on market $99,900 Active 74 DOM
2. 2026-06-18
   days on market $99,900 Active 71 DOM
3. 2026-06-17
   days on market $99,900 Active 70 DOM
4. 2026-06-16
   days on market $99,900 Active 69 DOM
5. 2026-06-15
   days on market $99,900 Active 68 DOM
6. 2026-06-13
   days on market $99,900 Active 66 DOM
7. 2026-06-13
   days on market $99,900 Active 65 DOM
8. 2026-06-09
   days on market $99,900 Active 62 DOM
9. 2026-06-08
   days on market $99,900 Active 61 DOM
10. 2026-06-07
    days on market $99,900 Active 60 DOM
11. 2026-06-03
    days on market $99,900 Active 56 DOM
12. 2026-06-02
    days on market $99,900 Active 55 DOM
13. 2026-06-01
    days on market $99,900 Active 54 DOM
14. 2026-05-31
    days on market $99,900 Active 53 DOM
15. 2026-05-13
    historical Contingent
16. 2026-05-06
    status Active
17. 2026-04-24
    status Pending
18. 2026-03-27
    listed $99,900 Active
19. 2021-05-17
    soldstatus $62,500 Closed 296-char remark

    Show marketing remark (296 chars)

    Move in Ready Home. The home is currently Tenant Occupied. Pleaase contact agent for scheduling appointments. The home has been owned by the original owner for over 8 years. Drive by to take a look at the home to see how adorable it is. Showings will only be on Saturday. No Realtor sign in yard.

20. 2021-04-14
    status Pending 296-char remark

    Show marketing remark (296 chars)

    Move in Ready Home. The home is currently Tenant Occupied. Pleaase contact agent for scheduling appointments. The home has been owned by the original owner for over 8 years. Drive by to take a look at the home to see how adorable it is. Showings will only be on Saturday. No Realtor sign in yard.

21. 2021-04-08
    status Active 296-char remark

    Show marketing remark (296 chars)

    Move in Ready Home. The home is currently Tenant Occupied. Pleaase contact agent for scheduling appointments. The home has been owned by the original owner for over 8 years. Drive by to take a look at the home to see how adorable it is. Showings will only be on Saturday. No Realtor sign in yard.

22. 2021-03-17
    price $59,000 296-char remark

    Show marketing remark (296 chars)

    Move in Ready Home. The home is currently Tenant Occupied. Pleaase contact agent for scheduling appointments. The home has been owned by the original owner for over 8 years. Drive by to take a look at the home to see how adorable it is. Showings will only be on Saturday. No Realtor sign in yard.

23. 2021-03-01
    listed $69,000 Active 296-char remark

    Show marketing remark (296 chars)

    Move in Ready Home. The home is currently Tenant Occupied. Pleaase contact agent for scheduling appointments. The home has been owned by the original owner for over 8 years. Drive by to take a look at the home to see how adorable it is. Showings will only be on Saturday. No Realtor sign in yard.

24. 1994-09-17
    historical
25. 1994-03-21
    listed $33,000
26. 1990-08-24
    soldstatus $10,000

ⓘ 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: $984 · $82/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$287/yr (+$24/mo · 29.2%)

ⓘ 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 · 16 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: $15,511
• − Mortgage interest: −$5,596
• − Property taxes: −$984
• − Insurance: −$500
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$2,906
• Taxable income: $3,044
• Est. tax owed @ 24.0%: −$731
• After-tax cash flow: $3,753/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: Lorain City
• NCES district ID: 3904426
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $32,823
• Composite: 15.81/100
• National rank: #9266
• State rank: #633 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): 20,043
• Household income: $40,636
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1140.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 24% Black 14%
• Hispanic origin (detail): Mexican 7% Puerto Rican 27%
• Common ancestry: Romanian 5% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala
• Languages at home: 75% English-only · Spanish 23%

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: ▼ -79.26%
• Current HPI: 180.9309
• 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

+899.0% since first listed

12 events — show timeline

• 2026-05-13 Contingent — MLSNOW
• 2026-05-06 Relisted — MLSNOW
• 2026-04-24 Pending — MLSNOW
• 2026-03-27 Listed $99,900 MLSNOW
• 2021-05-17 Sold (MLS) $62,500 MLSNOW
• 2021-04-14 Pending — MLSNOW
• 2021-04-08 Relisted — MLSNOW
• 2021-03-17 Price Changed $59,000 MLSNOW
• 2021-03-01 Listed $69,000 MLSNOW
• 1994-09-17 Listing Removed — MLSNOW
• 1994-03-21 Listed $33,000 MLSNOW
• 1990-08-24 Sold (Public Records) $10,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $984 · -7.2% YoY. Source: county tax records.