412 Alexander Ave · Lorain, OH 44052

$181,900

2 bd · 1.0 ba · 1,409 sqft · SingleFamily public records · 7 Days on market

Built 1945 5,227 sqft lot Est $149k · 22% 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 +8.1/30.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Schools +1.6/10.0
• 1% rule +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 3-bedroom 1-bath Cape Cod is located in a relaxing neighborhood. The large living room has the charm of original hardwood floors, woodwork, and arched doorways. The updated eat-in kitchen provides you with plenty of counter space, cupboards and drawers for storage. The updated bathroom has a tub/shower combo. Basement has a partially finished Rec Room and updated mechanicals, laundry hookup, and extra toilet. The backyard has a one-car detached garage and a deck great for relaxing and entertaining. It's close to amenities such as events at Black River Landing to Lake Erie and the Pier for birdwatching, fishing, and capturing pictures of the Lighthouse and sunsets. Act quickly…This one will be gone before you know it!

Key facts

• Lake erie
• Modernized bathroom
• Natural light

Tags

• FULLY UPDATED KITCHEN
• MODERNIZED BATHROOM
• NATURAL LIGHT
• LAKE ERIE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $182k.

Deal economics

• At list price, monthly cash flow is $-179 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (36.7% below list).
• Recommended offer: $115k (36.7% 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.
• 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.
• Zoned schools: Larkmoor Elementary School (math 22% / reading 32%, grade F, #1,193 of 1,584 statewide, top 76%, 438 students, 0% FRL); Longfellow Middle School (math 9% / reading 23%, grade F, #624 of 654 statewide, top 96%, 390 students, 0% FRL); Lorain High School (math 17% / reading 34%, grade F, #638 of 781 statewide, top 82%, 1,722 students, 0% FRL) — zoned schools average 0% FRL vs 80% district-wide (80 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 135 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 31% of the median local income ($45k/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 $5k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 30y 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 $129k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,180 (36.7% 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 1945 — 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. 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?
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: 0.63% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.22%
• DSCR: 0.81
• GRM: 13.2

CMA / ARV

• ARV (on-the-fly): $149,354
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1273 Michigan Ave	0.32mi	3/2.0 (+1)	1,412 (+0%)	4mo	$150,000	$106	72
931 F St	0.40mi	2/1.0	1,355 (-4%)	12mo	$115,000	$85	65
301 Idaho Ave	0.38mi	3/1.5 (+1)	1,338 (-5%)	7mo	$125,000	$93	62
216 Missouri Ave	0.57mi	2/3.0	1,460 (+4%)	1mo	$209,500	$143	58
1330 Maryland Ave	0.21mi	3/1.0 (+1)	1,220 (-13%)	7mo	$150,000	$123	57
1336 E Erie Ave	0.26mi	3/1.5 (+1)	1,258 (-11%)	8mo	$245,000	$195	56
925 E St	0.40mi	3/1.0 (+1)	1,233 (-12%)	5mo	$115,000	$93	52
449 Delaware Ave	0.55mi	3/1.5 (+1)	1,342 (-5%)	12mo	$110,000	$82	50
769 Lakeside Ave	0.59mi	3/2.0 (+1)	1,502 (+7%)	6mo	$137,600	$92	48
207 Georgia Ave	0.47mi	3/1.0 (+1)	1,232 (-13%)	6mo	$79,000	$64	47
2456 Jackson St	0.64mi	3/1.0 (+1)	1,573 (+12%)	1mo	$185,000	$118	45
2520 S Jefferson Blvd	0.63mi	3/2.0 (+1)	1,310 (-7%)	10mo	$215,600	$165	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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.22×
• Total profit: $-39,700
• Equity at exit: $27,122

10-year hold

• IRR: -14.7%
• Equity multiple: 0.13×
• Total profit: $-44,260
• Equity at exit: $15,727

Cash invested: $50,932 (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 44052

• Home prices YoY: -28.1%
• Rents YoY: 4.1%
• Active inventory: 135
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,152 high
• Mortgage (P&I): −$954
• Tax from tax record: −$59 /mo · $713/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-179

Break-even live

Break-even rent $1,379

Max offer price $150,239

Occupancy floor —

Sensitivity live

Price	-10% $-76	-5% $-128	+0% $-179	+5% $-231	+10% $-282
Rent	-10% $-270	-5% $-225	+0% $-179	+5% $-134	+10% $-88
Rate	-1.0pp $-88	-0.5pp $-133	base $-179	+0.5pp $-226	+1.0pp $-274

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: $45,475
• Closing costs: $5,457
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1508 Fillmore Ave Unit 1510 Fillmore Ave: Left Unit Lorain, OH	3.0	1.0	896	$900	$1.00	9d	1	0.33mi
1510 Fillmore Ave Lorain, OH	3.0	1.0	896	$900	$1.00	9d	1	0.34mi
2327 S Jefferson Blvd Lorain, OH	3.0	1.0	1485	$1,531	$1.03	23d	1	0.48mi
810 E Erie Ave #4 Lorain, OH	2.0	1.0	1200	$895	$0.75	45d	1	0.54mi
1109 Euclid Ave Lorain, OH	3.0	1.0	1066	$995	$0.93	3d	1	0.92mi
1630 Euclid Ave Lorain, OH	3.0	1.0	900	$1,100	$1.22	45d	1	1.00mi
716 Dakota Ave Lorain, OH	3.0	2.0	1490	$1,650	$1.11	3d	1	1.13mi
619 Root Rd Lorain, OH	2.0	1.5	900	$1,100	$1.22	3d	1	1.30mi
516 Washington Ave Unit 516 A Lorain, OH	1.0	1.0	1008	$915	$0.91	45d	1	1.36mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	6d	1	1.36mi
1028 W 5th St Lorain, OH	3.0	2.0	1250	$1,650	$1.32	45d	1	1.41mi
220 Hamilton Ave Lorain, OH	2.0	1.0	1848	$950	$0.51	23d	1	1.44mi
521 W 14th St Lorain, OH	3.0	1.0	968	$950	$0.98	45d	1	1.45mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	25d	1	1.47mi

Listing history 17 events

1. 2026-04-28
   status Pending
2. 2026-04-22
   historical Contingent
3. 2026-04-21
   listed $181,900 Active
4. 2022-11-29
   historical 747-char remark

   Show marketing remark (747 chars)

   This charming 3-bedroom 1-bath Cape Cod is located in a relaxing neighborhood. The large living room has the charm of original hardwood floors, woodwork, and arched doorways. The updated eat-in kitchen provides you with plenty of counter space, cupboards and drawers for storage. The updated bathroom has a tub/shower combo. Basement has a partially finished Rec Room and updated mechanicals, laundry hookup, and extra toilet. The backyard has a one-car detached garage and a deck great for relaxing and entertaining. It's close to amenities such as events at Black River Landing to Lake Erie and the Pier for birdwatching, fishing, and capturing pictures of the Lighthouse and sunsets. Act quickly…This one will be gone before you know it!

5. 2022-11-22
   soldstatus $129,000 Closed 747-char remark

   Show marketing remark (747 chars)

   This charming 3-bedroom 1-bath Cape Cod is located in a relaxing neighborhood. The large living room has the charm of original hardwood floors, woodwork, and arched doorways. The updated eat-in kitchen provides you with plenty of counter space, cupboards and drawers for storage. The updated bathroom has a tub/shower combo. Basement has a partially finished Rec Room and updated mechanicals, laundry hookup, and extra toilet. The backyard has a one-car detached garage and a deck great for relaxing and entertaining. It's close to amenities such as events at Black River Landing to Lake Erie and the Pier for birdwatching, fishing, and capturing pictures of the Lighthouse and sunsets. Act quickly…This one will be gone before you know it!

6. 2022-11-22
   soldstatus $129,000

   Show marketing remark (747 chars)

   This charming 3-bedroom 1-bath Cape Cod is located in a relaxing neighborhood. The large living room has the charm of original hardwood floors, woodwork, and arched doorways. The updated eat-in kitchen provides you with plenty of counter space, cupboards and drawers for storage. The updated bathroom has a tub/shower combo. Basement has a partially finished Rec Room and updated mechanicals, laundry hookup, and extra toilet. The backyard has a one-car detached garage and a deck great for relaxing and entertaining. It's close to amenities such as events at Black River Landing to Lake Erie and the Pier for birdwatching, fishing, and capturing pictures of the Lighthouse and sunsets. Act quickly…This one will be gone before you know it!

7. 2022-10-10
   status Pending 747-char remark

   Show marketing remark (747 chars)

   This charming 3-bedroom 1-bath Cape Cod is located in a relaxing neighborhood. The large living room has the charm of original hardwood floors, woodwork, and arched doorways. The updated eat-in kitchen provides you with plenty of counter space, cupboards and drawers for storage. The updated bathroom has a tub/shower combo. Basement has a partially finished Rec Room and updated mechanicals, laundry hookup, and extra toilet. The backyard has a one-car detached garage and a deck great for relaxing and entertaining. It's close to amenities such as events at Black River Landing to Lake Erie and the Pier for birdwatching, fishing, and capturing pictures of the Lighthouse and sunsets. Act quickly…This one will be gone before you know it!

8. 2022-10-06
   listed $129,000 Active 747-char remark

   Show marketing remark (747 chars)

   This charming 3-bedroom 1-bath Cape Cod is located in a relaxing neighborhood. The large living room has the charm of original hardwood floors, woodwork, and arched doorways. The updated eat-in kitchen provides you with plenty of counter space, cupboards and drawers for storage. The updated bathroom has a tub/shower combo. Basement has a partially finished Rec Room and updated mechanicals, laundry hookup, and extra toilet. The backyard has a one-car detached garage and a deck great for relaxing and entertaining. It's close to amenities such as events at Black River Landing to Lake Erie and the Pier for birdwatching, fishing, and capturing pictures of the Lighthouse and sunsets. Act quickly…This one will be gone before you know it!

9. 2015-05-26
   soldstatus $83,000 Sold 757-char remark

   Show marketing remark (757 chars)

   Wow! Wow! Wow! Move-in ready doesn't being to describe this 3 bdrm Bungalow located across from a park!!! The list of upgrades includes: a brand new Kitchen and Dining Room, all new appliances, new windows, new furnace, new A/C, basement has been waterproofed July 2014 with transferrable warranty, new porch, new back porch, newer H2O tank, and so much more!! Some major updates to the electric has been done! The Kitchen has been remodeled to mimic an open floor plan and a nice large dinette/Dining Room. The huge 2nd floor master accommodates the head of the house nicely and the freshly waterproofed basement is partially finished for an additional Family or Rec Room. Freshly painted, resupported and DRY! Come on home today - a 1st time buyers dream!

10. 2015-05-26
    soldstatus $83,000

    Show marketing remark (757 chars)

    Wow! Wow! Wow! Move-in ready doesn't being to describe this 3 bdrm Bungalow located across from a park!!! The list of upgrades includes: a brand new Kitchen and Dining Room, all new appliances, new windows, new furnace, new A/C, basement has been waterproofed July 2014 with transferrable warranty, new porch, new back porch, newer H2O tank, and so much more!! Some major updates to the electric has been done! The Kitchen has been remodeled to mimic an open floor plan and a nice large dinette/Dining Room. The huge 2nd floor master accommodates the head of the house nicely and the freshly waterproofed basement is partially finished for an additional Family or Rec Room. Freshly painted, resupported and DRY! Come on home today - a 1st time buyers dream!

11. 2015-04-21
    status Pending 757-char remark

    Show marketing remark (757 chars)

    Wow! Wow! Wow! Move-in ready doesn't being to describe this 3 bdrm Bungalow located across from a park!!! The list of upgrades includes: a brand new Kitchen and Dining Room, all new appliances, new windows, new furnace, new A/C, basement has been waterproofed July 2014 with transferrable warranty, new porch, new back porch, newer H2O tank, and so much more!! Some major updates to the electric has been done! The Kitchen has been remodeled to mimic an open floor plan and a nice large dinette/Dining Room. The huge 2nd floor master accommodates the head of the house nicely and the freshly waterproofed basement is partially finished for an additional Family or Rec Room. Freshly painted, resupported and DRY! Come on home today - a 1st time buyers dream!

12. 2015-04-14
    price $82,500 757-char remark

    Show marketing remark (757 chars)

    Wow! Wow! Wow! Move-in ready doesn't being to describe this 3 bdrm Bungalow located across from a park!!! The list of upgrades includes: a brand new Kitchen and Dining Room, all new appliances, new windows, new furnace, new A/C, basement has been waterproofed July 2014 with transferrable warranty, new porch, new back porch, newer H2O tank, and so much more!! Some major updates to the electric has been done! The Kitchen has been remodeled to mimic an open floor plan and a nice large dinette/Dining Room. The huge 2nd floor master accommodates the head of the house nicely and the freshly waterproofed basement is partially finished for an additional Family or Rec Room. Freshly painted, resupported and DRY! Come on home today - a 1st time buyers dream!

13. 2015-03-04
    listed $89,900 Active 757-char remark

    Show marketing remark (757 chars)

    Wow! Wow! Wow! Move-in ready doesn't being to describe this 3 bdrm Bungalow located across from a park!!! The list of upgrades includes: a brand new Kitchen and Dining Room, all new appliances, new windows, new furnace, new A/C, basement has been waterproofed July 2014 with transferrable warranty, new porch, new back porch, newer H2O tank, and so much more!! Some major updates to the electric has been done! The Kitchen has been remodeled to mimic an open floor plan and a nice large dinette/Dining Room. The huge 2nd floor master accommodates the head of the house nicely and the freshly waterproofed basement is partially finished for an additional Family or Rec Room. Freshly painted, resupported and DRY! Come on home today - a 1st time buyers dream!

14. 1996-07-30
    soldstatus $71,900
15. 1996-07-24
    soldstatus $71,900
16. 1996-05-28
    listed $71,900
17. 1993-11-12
    soldstatus $58,500

ⓘ 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: $713 · $59/mo
• Projected year-2 tax: $1,776 · $148/mo
• Expected delta: +$1,062/yr (+$89/mo · 148.9%)

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,822
• − Mortgage interest: −$10,189
• − Property taxes: −$713
• − Insurance: −$910
• − Repairs & maintenance: −$1,106
• − Management: −$1,106
• − Depreciation: −$5,292
• Taxable loss: −$5,494
• Est. tax savings @ 24.0%: +$1,318
• After-tax cash flow: $-832/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): 28,282
• Household income: $45,023
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1423.0

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 0.66)
• Race & ethnicity: White 49% Hispanic / Latino 24% Black 21% Two or more races 16%
• Hispanic origin (detail): Mexican 5% Puerto Rican 17%
• Common ancestry: Romanian 6% Lithuanian 1% Iranian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14%

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: ▼ -73.23%
• Current HPI: 186.9657
• Rent YoY: ▲ 4.09%
• 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

+210.9% since first listed

17 events — show timeline

• 2026-04-28 Pending — MLSNOW
• 2026-04-22 Contingent — MLSNOW
• 2026-04-21 Listed $181,900 MLSNOW
• 2022-11-29 Listing Removed — MLSNOW
• 2022-11-22 Sold (Public Records) $129,000 Public Records
• 2022-11-22 Sold (MLS) $129,000 MLSNOW
• 2022-10-10 Pending — MLSNOW
• 2022-10-06 Listed $129,000 MLSNOW
• 2015-05-26 Sold (Public Records) $83,000 Public Records
• 2015-05-26 Sold (MLS) $83,000 MLSNOW
• 2015-04-21 Pending — MLSNOW
• 2015-04-14 Price Changed $82,500 MLSNOW
• 2015-03-04 Listed $89,900 MLSNOW
• 1996-07-30 Sold (Public Records) $71,900 Public Records
• 1996-07-24 Sold (MLS) $71,900 MLSNOW
• 1996-05-28 Listed $71,900 MLSNOW
• 1993-11-12 Sold (Public Records) $58,500 Public Records

Property tax history

-5.3%/yr

Latest (2025): $713 · -41.7% YoY. Source: county tax records.