74 Landings Way · Avon Lake, OH 44012

$174,900

2 bd · 1.5 ba · 1,152 sqft · Condo public records · 2 Days on market

Built 1977 $427/mo HOA · 15% of rent

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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 +7.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a low-maintenance alternative to a single-family home? This 2 bedroom, 1.5 bath condo in the coveted Landings community in the heart of Avon Lake won't be on the market for long! As you enter, you will find a cozy foyer leading to a newly updated kitchen with modern white shaker cabinetry featuring soft-close drawers and granite countertops. Beyond the kitchen is a spacious living room with lots of natural light from the large sliding glass door, which lead you to the tranquil patio space and common area. The upstairs of this unit features two large bedrooms, each suited ample closet space. The full bath off the upstairs hallway is also attached to owner's suite. As you make your way to the basement you will find the recently remodeled powder room, continuing down to a spacious recreation area with newly installed vinyl flooring. The separate, enclosed laundry room completes the lower level. Attached to the unit is a one car garage complete with built-in storage. I

Key facts

• Pickleball courts
• Patio area
• Tennis courts

Tags

• OPEN-CONCEPT FLOOR PLAN
• FINISHED LOWER LEVEL
• PATIO AREA
• 1-MILE WALK TO THE LAKE
• PICKLEBALL COURTS
• TENNIS COURTS

Property features AI

Finance

• HOA & community: Homeowners association (Lawrence Management) with monthly fee of $427; HOA fee covers association management, common area maintenance, insurance, grounds and structure maintenance, pool(s), recreation facilities, reserve fund, roof, sewer, snow removal, trash, and water

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: 2-story home; Entry level: 5
• Construction: Wood siding; Asphalt roof; Below-grade finished area (basement): 576; Above-grade finished area: 1,728
• Exterior features: Private pool; Lot recorded in public records

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Ceiling fan cooling
• Interior features: Finished basement
• Laundry & utility: Washer; Dryer (laundry located on lower level)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Cap rate 10.8% vs local median 3.2% in Avon Lake — 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 84/100 on livability (#52 in OH, #736 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F.
• Avon Lake City (suburban): math 78% / reading 80% proficiency, ranked #48 of 656 in OH (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 178 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 30% of the median local income ($116k/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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $150k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $174,900

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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 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: 1.66% ✓
• Cap rate: 10.76%
• Cash-on-cash: 15.97%
• DSCR: 1.71
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.28×
• Total profit: $13,483
• Equity at exit: $26,078

10-year hold

• IRR: 16.5%
• Equity multiple: 2.36×
• Total profit: $66,466
• Equity at exit: $15,122

Cash invested: $48,972 (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 44012

• Active inventory: 178
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,910 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$230 /mo · $2,761/yr
• Insurance: −$73
• HOA: −$427
• Vacancy / Maint / Mgmt: −$611
• Net cashflow: $652

Break-even live

Break-even rent $2,085

Max offer price $174,900

Occupancy floor 73%

Sensitivity live

Price	-10% $751	-5% $701	+0% $652	+5% $602	+10% $553
Rent	-10% $422	-5% $537	+0% $652	+5% $767	+10% $882
Rate	-1.0pp $740	-0.5pp $696	base $652	+0.5pp $606	+1.0pp $560

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
165 Moorewood Ave Avon Lake, OH	3.0	2.0	1144	$1,745	$1.53	44d	1	1.07mi
126 Beachwood Ave Unit 1496069P Avon Lake, OH	3.0	1.5	1140	$6,089	$5.34	8d	1	1.15mi

HOA detail condo

• Monthly dues: $427 · $5,124/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-07
   statusdays on market $174,900 Pending 2 DOM
2. 2026-06-05
   remarks 699-char remark
3. 2026-06-05
   listed $174,900 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: $2,761 · $230/mo
• Projected year-2 tax: $2,761 · $230/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 ≥96°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: $34,920
• − Mortgage interest: −$9,797
• − Property taxes: −$2,761
• − Insurance: −$874
• − Repairs & maintenance: −$2,794
• − Management: −$2,794
• − HOA: −$5,124
• − Depreciation: −$5,088
• Taxable income: $5,688
• Est. tax owed @ 24.0%: −$1,365
• After-tax cash flow: $6,456/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: Avon Lake City
• NCES district ID: 3904812
• Math proficiency: 78% ▼ -10.00%
• Reading proficiency: 80% ▼ -6.00%
• Median HH income: $79,608
• Composite: 69.66/100
• National rank: #296
• State rank: #48 of 656 in OH

Livability — Avon Lake

• Score: 84/100
• State rank: #52
• US rank: #736

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Avon Lake, OH
• County: Lorain County · 219,437 people
• City population: 25,752
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 25,752
• Household income: $115,567
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 290.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 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: ▼ -148.16%
• Current HPI: 207.1177
• 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

+146.7% since first listed

10 events — show timeline

• 2026-06-04 Listed $174,900 MLSNOW
• 2021-12-14 Sold (Public Records) $149,900 Public Records
• 2021-12-03 Sold (MLS) $149,900 MLSNOW
• 2021-10-27 Pending — MLSNOW
• 2021-10-08 Listed $149,900 MLSNOW
• 2005-08-18 Sold (Public Records) $126,000 Public Records
• 2001-04-23 Sold (Public Records) $101,000 Public Records
• 1998-04-28 Sold (Public Records) $95,000 Public Records
• 1993-08-13 Sold (Public Records) $69,000 Public Records
• 1989-07-05 Sold (Public Records) $70,900 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,761 · +7.0% YoY. Source: county tax records.