718 E 343rd St · Eastlake, OH 44095

$75,000

3 bd · 1.0 ba · 914 sqft · SingleFamily public records · 3 Days on market

Built 1940 5,201 sqft lot

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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
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity in Eastlake with strong value-add potential! Situated on a quiet street, 718 E 343rd offers an ideal setup for investors looking for their next renovation project. This 3-bedroom, 1-bath home features a fenced-in yard and a detached 2-car garage. The property is in need of renovation and is being sold as-is. Ideal for investors, flippers, or anyone ready to bring their vision to life. Conveniently located near shopping, dining, and major routes. Bring your contractor and your ideas—don’t miss this opportunity. Property is POS compliant.

Key facts

• Quiet street
• Fenced-in yard
• 5,201 sq ft lot

Tags

• FENCED-IN YARD
• DETACHED 2-CAR GARAGE
• STRONG VALUE-ADD POTENTIAL
• QUIET STREET

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Annual tax amount listed (details not included per instructions)
• HOA & community: HOA information not specified

Exterior

• Parking: Detached garage; 2 garage spaces
• Security: Security features not specified
• Utilities: Public water; Public sewer
• Home design: 2-story home; Above-grade finished living area reported as 914 (source: assessor)
• Construction: Aluminum siding; Asphalt/fiberglass roof; Year built source: Assessor
• Exterior features: Lot approximately 0.1194 acres

Interior

• Kitchen: Appliances and finishes not specified
• Bedrooms: Bedrooms present (details not specified)
• Flooring: Flooring details not specified
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Total of 6 rooms; Property listed as fixer condition
• Laundry & utility: Laundry details not specified

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 17.6% vs local median 4.8% in Eastlake — 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 68/100 on livability (#550 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment D+, amenities F, commute F.
• Willoughby-Eastlake City (suburban): math 42% / reading 58% proficiency, ranked #434 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 129 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1940 — 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. Schools are B-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?
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: 2.12% ✓
• Cap rate: 17.58%
• Cash-on-cash: 40.32%
• DSCR: 2.79
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $159,036
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34114 Lake Shore Blvd	0.36mi	2/1.0 (-1)	870 (-5%)	2mo	$145,000	$167	69
34269 Sylvia Dr	0.19mi	3/1.0	1,008 (+10%)	7mo	$75,000	$74	68
743 E 347th St	0.29mi	3/1.0	975 (+7%)	16mo	$112,500	$115	62
34045 Sylvia Dr	0.25mi	3/1.5	980 (+7%)	21mo	$165,500	$169	57
1009 E 347th St	0.56mi	3/1.0	972 (+6%)	9mo	$179,900	$185	56
34682 Iris Ln	0.32mi	3/1.5	1,032 (+13%)	8mo	$220,000	$213	55
731 E 344th St	0.12mi	2/1.0 (-1)	1,013 (+11%)	20mo	$170,000	$168	54
33688 Guilbert Rd	0.51mi	2/1.0 (-1)	828 (-9%)	3mo	$132,500	$160	53
1041 E 349th St	0.68mi	2/1.0 (-1)	887 (-3%)	8mo	$166,000	$187	52
33378 Lake Shore Blvd	0.72mi	3/2.0	1,002 (+10%)	1mo	$185,000	$185	45
870 Rokeby Rd	0.49mi	3/1.0	1,036 (+13%)	12mo	$180,000	$174	45
1141 E 340th St	0.68mi	3/2.0	1,040 (+14%)	9mo	$225,000	$216	34

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 · 4.81% rent growth · sell at horizon

5-year hold

• IRR: 38.8%
• Equity multiple: 2.70×
• Total profit: $35,767
• Equity at exit: $11,183

10-year hold

• IRR: 46.2%
• Equity multiple: 5.84×
• Total profit: $101,707
• Equity at exit: $6,485

Cash invested: $21,000 (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 44095

• Rents YoY: 4.8%
• Active inventory: 129
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,587 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$124 /mo · $1,485/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $706

Break-even live

Break-even rent $694

Max offer price $75,000

Occupancy floor 51%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33201 Vine St Willowick, OH	1.0–2.0	1.0	621	$1,200	$1.93	20d	1	1.12mi
360 E 326th St Willowick, OH	2.0	2.0	1053	$1,447	$1.37	2d	1	1.17mi
1323 E 360th St Eastlake, OH	3.0	1.0	1036	$1,599	$1.54	16d	1	1.30mi

Listing history 3 events

1. 2026-06-07
   statusdays on market $75,000 Pending 3 DOM
2. 2026-06-03
   remarks 560-char remark
3. 2026-06-03
   listed $75,000 Active 1 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: $1,485 · $124/mo
• Projected year-2 tax: $1,485 · $124/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥93°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: $19,046
• − Mortgage interest: −$4,201
• − Property taxes: −$1,485
• − Insurance: −$375
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − Depreciation: −$2,182
• Taxable income: $7,755
• Est. tax owed @ 24.0%: −$1,861
• After-tax cash flow: $6,605/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: Willoughby-Eastlake City
• NCES district ID: 3904510
• Math proficiency: 42% ▼ -21.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $52,500
• Composite: 42.96/100
• National rank: #3110
• State rank: #434 of 656 in OH

Livability — Eastlake

• Score: 68/100
• State rank: #550
• US rank: #9388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastlake, OH
• County: Lake County · 204,927 people
• City population: 32,363
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 32,363
• Household income: $71,543
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 590.0

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 (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Russian/Polish/Slavic 3% Spanish 1% German/W. Germanic 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: ▼ -187.78%
• Current HPI: 171.8121
• Rent YoY: ▲ 4.81%
• 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

• 2026-06-03 Listed $75,000 MLSNOW

Property tax history

+0.9%/yr

Latest (2025): $1,485 · -30.8% YoY. Source: county tax records.