1036 Oberlin Ave · Lorain, OH 44052

$135,000

3 bd · 2.0 ba · 1,868 sqft · MultiFamily public records · 50 Days on market

Built 1920 5,227 sqft lot Est $135k · 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Partially leased property offering strong income growth potential at 1036 Oberlin Ave in Lorain, offered exclusively as part of a 19-unit portfolio-no individual sales. This duplex-style property features one occupied unit generating $1,125 month-to-month, while the second unit is currently vacant, providing immediate upside through lease-up. Utilities are structured with the tenant paying electric and the owner responsible for water, sewer, and trash. The property offers a functional layout with solid rental demand in the area, making it well-suited for continued income production. Ideal for investors seeking to expand their portfolio with a value-add component, this asset contributes to a

Key facts

• 5,227 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached garage with 1 garage space
• Home design: Single building with multiple units
• Construction: Vinyl siding; Year built (source: Appraiser)
• Exterior features: Lot is approximately 0.12 acres

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms (one per unit)
• Interior features: Basement (other)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive. Per door: $384/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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: Rents rising fast (+4.1%/yr); 129 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• At $2,092/mo this rent would consume 56% of the median local household income ($45k/yr) (locally 1423% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.55% ✓
• Cap rate: 13.13%
• Cash-on-cash: 24.40%
• DSCR: 2.09
• GRM: 5.4

CMA / ARV

• ARV (median comp): $134,852
• List price: $135,000
• Delta: 0.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
356 Oberlin Ave	0.50mi	4/2.0 (+1)	1,887 (+1%)	6mo	$52,000	$28	65
1031 W 17th St	0.39mi	4/2.0 (+1)	1,848 (-1%)	16mo	$64,000	$35	62
1320 W 7th St	0.33mi	4/2.0 (+1)	1,986 (+6%)	10mo	$120,000	$60	61
1031 W 9th St	0.28mi	4/2.0 (+1)	1,708 (-9%)	8mo	$87,000	$51	61
321 W 8th St	0.54mi	4/2.0 (+1)	1,922 (+3%)	7mo	$109,000	$57	59
1226 W Erie Ave	0.54mi	4/3.0 (+1)	1,938 (+4%)	18mo	$65,000	$34	44
1126 W Erie Ave	0.60mi	3/2.0	1,684 (-10%)	15mo	$80,000	$48	43

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: 18.9%
• Equity multiple: 1.78×
• Total profit: $29,402
• Equity at exit: $20,129

10-year hold

• IRR: 28.0%
• Equity multiple: 3.60×
• Total profit: $98,380
• Equity at exit: $11,672

Cash invested: $37,800 (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: 129
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,092 high
• Mortgage (P&I): −$708
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $769

Break-even live

Break-even rent $1,119

Max offer price $135,000

Occupancy floor 58%

Sensitivity live

Price	-10% $845	-5% $807	+0% $769	+5% $730	+10% $692
Rent	-10% $603	-5% $686	+0% $769	+5% $851	+10% $934
Rate	-1.0pp $837	-0.5pp $803	base $769	+0.5pp $734	+1.0pp $698

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,092
Total (2 units)			$2,092

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1322 Brownell Ave Lorain, OH	4.0	1.0	1571	$1,570	$1.00	44d	1	0.19mi
1413 W 12th St Lorain, OH	4.0	1.5	1725	$1,700	$0.99	44d	1	0.30mi
1037 Washington Ave Lorain, OH	4.0	2.0	1567	$1,600	$1.02	17d	1	0.32mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	24d	1	0.41mi
760 W 9th St Lorain, OH	4.0	2.0	1987	$1,600	$0.81	44d	1	0.43mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	44d	1	0.49mi
1028 W 5th St Lorain, OH	3.0	2.0	1250	$1,650	$1.32	44d	1	0.49mi
1220 W Erie Ave Lorain, OH	2.0	2.0	1458	$1,050	$0.72	2d	1	0.53mi
220 Hamilton Ave Lorain, OH	2.0	1.0	1848	$950	$0.51	21d	1	0.64mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	3d	1	0.67mi
1512 Lexington Ave Lorain, OH	2.0	1.0	2476	$1,150	$0.46	44d	1	0.72mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	24d	1	0.79mi
1906 N Leavitt Rd Unit 1496120P Lorain, OH	3.0	2.0	1517	$5,246	$3.46	3d	1	1.00mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	44d	1	1.08mi
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	44d	1	1.31mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	44d	1	1.45mi
117 W 30th St Lorain, OH	2.0	1.0	1344	$925	$0.69	44d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $135,000 Active 50 DOM
2. 2026-06-17
   days on market $135,000 Active 49 DOM
3. 2026-06-16
   days on market $135,000 Active 48 DOM
4. 2026-06-15
   days on market $135,000 Active 47 DOM
5. 2026-06-13
   days on market $135,000 Active 45 DOM
6. 2026-06-13
   days on market $135,000 Active 44 DOM
7. 2026-06-09
   days on market $135,000 Active 41 DOM
8. 2026-06-08
   days on market $135,000 Active 40 DOM
9. 2026-06-07
   days on market $135,000 Active 39 DOM
10. 2026-06-03
    days on market $135,000 Active 35 DOM
11. 2026-06-02
    days on market $135,000 Active 34 DOM
12. 2026-06-01
    days on market $135,000 Active 33 DOM
13. 2026-05-31
    days on market $135,000 Active 32 DOM
14. 2026-04-29
    listed $164,000 Active 770-char remark
15. 2023-08-11
    soldstatus $1,050,000

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $1,772 · $148/mo
• Expected delta: +$334/yr (+$28/mo · 23.3%)

ⓘ 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 ≥98°F today · 17 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: $25,104
• − Mortgage interest: −$7,562
• − Property taxes: −$1,438
• − Insurance: −$675
• − Repairs & maintenance: −$2,008
• − Management: −$2,008
• − Depreciation: −$3,927
• Taxable income: $7,485
• Est. tax owed @ 24.0%: −$1,797
• After-tax cash flow: $7,428/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

-87.1% since first listed

3 events — show timeline

• 2026-05-28 Price Changed $135,000 MLSNOW
• 2026-04-29 Listed $164,000 MLSNOW
• 2023-08-11 Sold (Public Records) $1,050,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,438 · -4.9% YoY. Source: county tax records.