354 Pin Oak Cir · Elyria, OH 44035

$44,900

3 bd · 2.0 ba · 1,344 sqft · SingleFamily · 24 Days on market

Built 2005 Good condition Est $40k · 11% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• ARV discount +2.4/15.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Feels like a vacation home! Welcome to Twin Lakes, a quiet 55+ community with something for everyone! This is a spacious 3-bedroom, 2 full-bath, custom home built in 2005 by Legacy with an open concept layout, and fenced yard. Professionally landscaped. This stunning home shows like new! The large eat-in kitchen has a breakfast bar with bar stools, and opens to the great room with Living room, Dining room and Kitchen combined. Vaulted ceiling with Oak beam and oak trim. The kitchen has beautiful solid oak cabinets, lots of counter space, built in dishwasher, stainless steel appliances, electric, smooth-top stove, and new refrigerator with French doors and ice maker. The large master bedroom

Key facts

• Fenced yard
• Vaulted ceiling
• Eat-in kitchen

Tags

• FENCED YARD
• PROFESSIONALLY LANDSCAPED
• EAT-IN KITCHEN
• BREAKFAST BAR
• GREAT ROOM
• VAULTED CEILING

Property features AI

Finance

• Other: Pets allowed: cats and dogs
• Financial info: Land lease payment: $975
• HOA & community: Senior community; Clubhouse; Fitness center/fitness facilities; Has land lease

Exterior

• Parking: Carport
• Security: Gated community; Street lights
• Utilities: Public water; Public sewer
• Home design: Single-story home; Entry level: first floor
• Construction: Vinyl siding construction; Asphalt roof; Slab foundation; Built by Skyline Homette (2005, per public records)
• Exterior features: Outbuilding and storage; Full wood fencing; Faces south

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Breakfast bar
• Bedrooms: 3 main-level bedrooms
• Flooring: Linoleum flooring (kitchen and laundry areas)
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Eat-in kitchen; Open floorplan; Pantry; Vaulted ceilings; Beamed ceilings; Breakfast bar; Built-in features; High ceilings; Natural woodwork; Window treatments; Double pane, ENERGY STAR qualified, insulated windows
• Laundry & utility: In-unit laundry with washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.7% vs local median 3.8% in Elyria — 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 75/100 on livability (#243 in OH, #3,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, employment D, commute F.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.7%/yr); 356 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $44,226 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 3.03% ✓
• Cap rate: 26.74%
• Cash-on-cash: 73.04%
• DSCR: 4.25
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $40,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Twin Lake Dr	0.39mi	3/2.0	1,344 (0%)	9mo	$40,900	$30	74
241 Twin Lake Dr	0.33mi	2/2.0 (-1)	1,350 (+0%)	12mo	$35,000	$26	69
138 Valley Forge Cir	0.54mi	3/1.5	1,372 (+2%)	1mo	$155,000	$113	68
9627 Patricia Ct	0.42mi	3/3.5	1,412 (+5%)	0mo	$371,000	$263	66
219 Hickory Cir	0.40mi	2/2.0 (-1)	1,300 (-3%)	9mo	$15,000	$12	63
211 Birchbark Dr	0.21mi	3/2.0	1,456 (+8%)	16mo	$20,000	$14	63
2161 Fowl Rd	0.71mi	3/3.0	1,352 (+1%)	0mo	$330,000	$244	62
296 Ashwood Dr	0.30mi	2/1.5 (-1)	1,456 (+8%)	6mo	$12,000	$8	60
215 Hickory Cir	0.41mi	3/2.0	1,248 (-7%)	17mo	$25,000	$20	55
154 Island Dr	0.29mi	3/2.0	1,525 (+14%)	12mo	$59,000	$39	54
149 Island Dr	0.31mi	3/2.0	1,479 (+10%)	19mo	$19,500	$13	53
9897 W Ridge Rd	0.66mi	3/1.5	1,232 (-8%)	20mo	$302,500	$246	37

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 · 6.74% rent growth · sell at horizon

5-year hold

• IRR: 77.0%
• Equity multiple: 4.72×
• Total profit: $46,798
• Equity at exit: $6,695

10-year hold

• IRR: 81.6%
• Equity multiple: 11.11×
• Total profit: $127,151
• Equity at exit: $3,882

Cash invested: $12,572 (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 44035

• Rents YoY: 6.7%
• Active inventory: 356
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,361 medium
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $765

Break-even live

Break-even rent $393

Max offer price $44,900

Occupancy floor 39%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 Cedar Brook Dr Elyria, OH	3.0	2.0	924	$1,150	$1.24	1d	1	0.06mi

Listing history 14 events

1. 2026-06-18
   days on market $44,900 Active 24 DOM
2. 2026-06-17
   days on market $44,900 Active 23 DOM
3. 2026-06-16
   days on market $44,900 Active 22 DOM
4. 2026-06-15
   days on market $44,900 Active 21 DOM
5. 2026-06-13
   days on market $44,900 Active 19 DOM
6. 2026-06-13
   days on market $44,900 Active 18 DOM
7. 2026-06-09
   days on market $44,900 Active 15 DOM
8. 2026-06-08
   days on market $44,900 Active 14 DOM
9. 2026-06-07
   days on market $44,900 Active 13 DOM
10. 2026-06-03
    days on market $44,900 Active 9 DOM
11. 2026-06-02
    days on market $44,900 Active 8 DOM
12. 2026-06-01
    days on market $44,900 Active 7 DOM
13. 2026-05-31
    days on market $44,900 Active 6 DOM
14. 2026-05-25
    listed $44,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°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: $16,337
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$224
• − Repairs & maintenance: −$1,307
• − Management: −$1,307
• − Depreciation: −$1,306
• Taxable income: $9,004
• Est. tax owed @ 24.0%: −$2,161
• After-tax cash flow: $7,022/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.

Condition & rehab AI · 30 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a good condition score of 80. It has a good kitchen, bathrooms, exterior, flooring, interior walls/paint, roof, exterior/siding, windows, foundation/structure, HVAC/mechanicals, and landscaping/curb appeal. The home is move-in ready and would benefit from a fresh coat of paint and a new kitchen faucet.

Value-add opportunities

• Resale paint interior walls — Fresh paint can make a big difference in the home's appearance
• Resale replace kitchen faucet — A new faucet can improve the kitchen's functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Resale paint interior walls — Fresh paint can make a big difference in the home's appearance ↑
• Resale replace kitchen faucet — A new faucet can improve the kitchen's functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 of 656 in OH

Livability — Elyria

• Score: 75/100
• State rank: #243
• US rank: #3869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elyria, OH
• County: Lorain County · 219,437 people
• City population: 62,179
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 62,179
• Household income: $56,408
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2229.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 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: ▼ -139.09%
• Current HPI: 199.7354
• Rent YoY: ▲ 6.74%
• 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

1 event — show timeline

• 2026-05-25 Listed $44,900 MLSNOW