115 W 30th St · Lorain, OH 44055

$120,000

2 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 2 Days on market

Built 1900 7,405 sqft lot Est $173k · 31% under

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.9/10.0
• 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

Come and take a look at this three-bedroom, two-bathroom colonial home!! Whether you are looking to buy a home for yourself, or if you are an investor looking for a great investment property, this one is perfect for both choices. This home has been updated with new carpet/flooring throughout, new kitchen lighting, cabinets and countertops, all new master bathroom, and much more! Previously used as a rental property, this home is MOVE-IN READY! Hurry and schedule a showing today so you don't miss out on this great opportunity!!

Key facts

• Two story colonial
• Spacious kitchen
• Central air

Tags

• TWO STORY COLONIAL
• CORNER LOT
• FIRST FLOOR PRIMARY BEDROOM
• SPACIOUS KITCHEN
• CENTRAL AIR
• DETACHED GARAGE

Property features AI

Finance

• Other: Above-grade finished area reported as 1,404 (source: assessor)

Exterior

• Parking: Detached garage with garage door opener and electricity; Unpaved areas for parking; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2 stories; North-facing
• Construction: Aluminum siding; Asphalt/fiberglass roof
• Exterior features: Porch; Corner lot; Lot dimensions approximately 50.57 x 150

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher not listed
• Bedrooms: 1 main-level bedroom
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Heating options include baseboard, electric, forced air, and gas
• Interior features: Partial, unfinished basement; 6 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (1.1% below list).
• Recommended offer: $119k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 5.9% 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: 81 active listings in the ZIP; 21 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 35% 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 $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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 $90k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,652 (1.1% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $172,692
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 W 30th St	0.00mi	3/2.0 (+1)	1,404 (0%)	0mo	$110,000	$78	91
3225 Broadway	0.15mi	3/1.0 (+1)	1,440 (+3%)	5mo	$130,000	$90	80
3869 Dayton Ave	0.62mi	3/2.0 (+1)	1,410 (+0%)	1mo	$200,000	$142	61
917 Highland Park Blvd	0.65mi	3/1.0 (+1)	1,393 (-1%)	6mo	$171,900	$123	58
3026 Caroline Ave	0.25mi	3/1.5 (+1)	1,264 (-10%)	8mo	$173,000	$137	58
213 W 23rd St	0.44mi	3/2.0 (+1)	1,328 (-5%)	5mo	$164,000	$123	57
719 E 34th St	0.48mi	3/1.5 (+1)	1,326 (-6%)	7mo	$134,000	$101	56
909 W 29th St	0.63mi	3/2.0 (+1)	1,424 (+1%)	9mo	$210,000	$147	52
807 W 21st St	0.73mi	3/1.0 (+1)	1,498 (+7%)	3mo	$137,000	$91	48
3402 Amherst Ave	0.52mi	3/2.0 (+1)	1,544 (+10%)	5mo	$215,000	$139	46
3522 Oakdale Ave Ave	0.50mi	3/1.0 (+1)	1,231 (-12%)	9mo	$150,000	$122	44
606 W 21st St	0.69mi	3/2.0 (+1)	1,564 (+11%)	10mo	$155,000	$99	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-9,199
• Equity at exit: $17,892

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $5,144
• Equity at exit: $10,375

Cash invested: $33,600 (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: 81
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,187 high
• Mortgage (P&I): −$629
• Tax from tax record: −$97 /mo · $1,163/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $161

Break-even live

Break-even rent $983

Max offer price $120,000

Occupancy floor 81%

Sensitivity live

Price	-10% $229	-5% $195	+0% $161	+5% $127	+10% $93
Rent	-10% $67	-5% $114	+0% $161	+5% $208	+10% $255
Rate	-1.0pp $222	-0.5pp $192	base $161	+0.5pp $130	+1.0pp $98

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 W 30th St Lorain, OH	2.0	1.0	1344	$925	$0.69	44d	1	0.03mi
3132 Elyria Ave Lorain, OH	3.0	1.5	1109	$1,250	$1.13	44d	1	0.19mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	44d	1	0.20mi
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	44d	1	0.24mi
2909 Denver Ave Lorain, OH	3.0	1.0	1597	$1,400	$0.88	44d	1	0.32mi
612 E 33rd St Lorain, OH	3.0	1.0	960	$995	$1.04	44d	1	0.37mi
509 W 24th St Lorain, OH	2.0	1.0	1036	$1,400	$1.35	44d	1	0.47mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	44d	1	0.54mi
944 S Central Dr Lorain, OH	3.0	1.0	950	$1,250	$1.32	24d	1	0.70mi
2307 Washington Ave Lorain, OH	1.0–3.0	1.0	880	$1,224	$1.39	2d	1	0.80mi
939 W 22nd St Lorain, OH	3.0	1.0	950	$1,295	$1.36	44d	1	0.85mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	24d	1	0.89mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	3d	1	0.93mi
521 W 14th St Lorain, OH	3.0	1.0	968	$950	$0.98	44d	1	1.02mi
1637 E 29th St Lorain, OH	2.0	1.0	1200	$979	$0.82	15d	1	1.07mi
1639 E 31st St Unit 1637 Lorain, OH	3.0	1.0	1500	$1,200	$0.80	44d	1	1.09mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	5d	1	1.20mi
1053 Washington Ave Unit 4 Lorain, OH	3.0	1.0	1000	$899	$0.90	44d	1	1.31mi
1053 Washington Ave Unit 2 Lorain, OH	1.0	1.0	990	$799	$0.81	13d	1	1.31mi
1730 E 30th St Unit 1730 Lorain, OH	3.0	1.0	1120	$1,250	$1.12	44d	1	1.31mi
4850 Oneil Blvd Lorain, OH	2.0–3.0	1.0–1.5	981	$815	$0.83	2d	1	1.44mi

Listing history 2 events

1. 2026-06-02
   status $120,000 Pending 2 DOM
2. 2026-06-01
   days on market $120,000 Active 2 DOM

ⓘ 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: $1,163 · $97/mo
• Projected year-2 tax: $1,518 · $126/mo
• Expected delta: +$354/yr (+$30/mo · 30.5%)

ⓘ 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: $14,238
• − Mortgage interest: −$6,722
• − Property taxes: −$1,163
• − Insurance: −$600
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$3,491
• Taxable loss: −$16
• Est. tax savings @ 24.0%: +$4
• After-tax cash flow: $1,937/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

+77.8% since first listed

7 events — show timeline

• 2026-05-30 Listed $120,000 MLSNOW
• 2022-05-02 Pending — MLSNOW
• 2022-04-29 Sold (MLS) $89,500 MLSNOW
• 2022-04-04 Contingent — MLSNOW
• 2022-03-30 Listed $74,900 MLSNOW
• 2007-10-01 Listing Removed — MLSNOW
• 2006-12-21 Listed $67,500 MLSNOW

Property tax history

+2.8%/yr

Latest (2025): $1,163 · -7.3% YoY. Source: county tax records.