351 Gayle Dr · Sheffield Lake, OH 44054

$159,900

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 6 Days on market

Built 1959 5,662 sqft lot Est $190k · 16% under

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Why this score? — see what drove the C 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 +19.1/30.0
• ARV discount +14.6/15.0
• DSCR +6.0/10.0
• 1% rule +5.3/10.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super clean and move-in condition. This home has been lovingly cared for and is ready for a new owner. Great location just a few blocks to Lake Erie and close to the Avon Lake border and nearby parks. Eat-in kitchen with all appliances included adjoins the 18x10 screened-in porch to enjoy your summer evenings. Private yard with mature trees and a shed for your mower/tools. Full basement with glass block windows, built-in bar, bar stools and gas fireplace with remote. Washer, dryer and dehumidifier included.

Key facts

• Near local parks
• Full basement
• Near lake

Tags

• HARDWOOD FLOORS
• FULL BASEMENT
• COVERED BACK PORCH
• FUNCTIONAL FLOOR PLAN
• NEAR LOCAL PARKS
• NEAR LAKE

Property features AI

Finance

• Financial info: Annual taxes (2025) reported

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Vinyl siding; Asphalt fiberglass roof
• Exterior features: Paved parking area; Lot approximately 0.13 acres; Property faces west

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central air conditioning; Forced-air gas heating
• Interior features: Full unfinished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 7.6% vs local median 4.8% in Sheffield 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 68/100 on livability (#541 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Sheffield-Sheffield Lake City (suburban): math 48% / reading 59% proficiency, ranked #381 of 656 in OH (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 60 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 28y 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 $95k; list at $160k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1959 — 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: 1.03% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.52%
• DSCR: 1.20
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $189,696
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
355 Gayle Dr	0.01mi	3/1.0	988 (0%)	1mo	$191,000	$193	99
390 Lynne Dr	0.13mi	3/2.0	988 (0%)	3mo	$219,900	$223	87
243 Gayle Dr	0.17mi	3/1.0	988 (0%)	19mo	$170,000	$172	76
306 Gayle Dr	0.11mi	3/1.0	950 (-4%)	16mo	$196,000	$206	75
349 Lynne Dr	0.06mi	3/1.0	912 (-8%)	12mo	$209,900	$230	74
213 Gayle Dr	0.21mi	3/2.0	988 (0%)	16mo	$212,500	$215	73
382 Gayle Dr	0.08mi	3/1.0	912 (-8%)	19mo	$142,000	$156	68
296 Thelma Dr	0.12mi	3/1.0	912 (-8%)	20mo	$170,000	$186	65
298 Erieview Blvd	0.14mi	3/1.0	912 (-8%)	22mo	$175,000	$192	62
33803 Electric Blvd Unit D-7	0.45mi	2/1.5 (-1)	1,001 (+1%)	16mo	$143,000	$143	57
5560 E Lake Rd	0.33mi	3/1.0	1,056 (+7%)	20mo	$175,000	$166	57
458 Buckeye Dr	0.69mi	3/2.0	930 (-6%)	22mo	$154,900	$167	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-15,133
• Equity at exit: $23,842

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $826
• Equity at exit: $13,825

Cash invested: $44,772 (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 44054

• Active inventory: 60
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,654 high
• Mortgage (P&I): −$839
• Tax from tax record: −$233 /mo · $2,801/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $168

Break-even live

Break-even rent $1,441

Max offer price $159,900

Occupancy floor 85%

Sensitivity live

Price	-10% $259	-5% $214	+0% $168	+5% $123	+10% $78
Rent	-10% $38	-5% $103	+0% $168	+5% $234	+10% $299
Rate	-1.0pp $249	-0.5pp $209	base $168	+0.5pp $127	+1.0pp $85

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
345 Lynne Dr Sheffield Lake, OH	3.0	1.0	912	$1,395	$1.53	8d	1	0.05mi
750 Aqua Marine Blvd Avon Lake, OH	1.0–2.0	1.0–2.0	1023	$2,000	$1.96	2d	11	0.28mi
201 Erieview Blvd Sheffield Lake, OH	3.0	1.0	988	$2,000	$2.02	3d	1	0.30mi
33803 Electric Blvd Unit G10 Avon Lake, OH	2.0	1.5	1001	$1,480	$1.48	16d	1	0.40mi
5115 E Lake Rd Sheffield Lake, OH	2.0	1.0–2.0	950	$1,675	$1.76	2d	1	0.60mi
33168 Beverly Ln Avon Lake, OH	2.0	1.5	1080	$1,850	$1.71	44d	1	1.10mi
407 Rachel Ln Avon Lake, OH	2.0	1.5	1080	$1,850	$1.71	44d	1	1.12mi
455 Rachel Ln Avon Lake, OH	2.0	1.5	1080	$1,670	$1.55	24d	1	1.13mi
181 Somerset Ln Avon Lake, OH	1.0–2.0	1.0–2.0	1042	$1,787	$1.71	2d	14	1.17mi
638 Treadway Blvd Sheffield Lake, OH	2.0	1.0	975	$1,650	$1.69	24d	1	1.18mi

Listing history 5 events

1. 2026-06-17
   status $159,900 Pending 6 DOM
2. 2026-06-17
   statusdays on market $159,900 Active 6 DOM
3. 2026-06-08
   statusdays on market $159,900 Pending 5 DOM
4. 2026-06-07
   remarks 448-char remark
5. 2026-06-07
   listed $159,900 Active 4 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: $2,801 · $233/mo
• Projected year-2 tax: $2,801 · $233/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 8 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,854
• − Mortgage interest: −$8,957
• − Property taxes: −$2,801
• − Insurance: −$800
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − Depreciation: −$4,652
• Taxable loss: −$531
• Est. tax savings @ 24.0%: +$128
• After-tax cash flow: $2,150/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: Sheffield-Sheffield Lake City
• NCES district ID: 3904476
• Math proficiency: 48% ▼ -23.00%
• Reading proficiency: 59% ▼ -12.00%
• Median HH income: $55,551
• Composite: 46.18/100
• National rank: #2496
• State rank: #381 of 656 in OH

Livability — Sheffield Lake

• Score: 68/100
• State rank: #541
• US rank: #9106

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheffield Lake, OH
• County: Lorain · 305,041 people
• Metro: Cleveland, OH
• Population (ZIP): 12,733
• Household income: $73,151
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 5.7

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 6% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 8% Slovak 3% Italian 1%
• Foreign-born: 3% · Vietnam
• Languages at home: 93% English-only · Spanish 2% German/W. Germanic 1% Other Indo-European 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: ▼ -155.49%
• Current HPI: 211.5612
• Rent YoY: —
• Metro: —
• 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

+68.5% since first listed

14 events — show timeline

• 2026-06-03 Listed $159,900 MLSNOW
• 2023-05-31 Listed $135,000 MLSNOW
• 2016-07-29 Sold (Public Records) $95,000 Public Records
• 2016-07-29 Sold (MLS) $95,000 MLSNOW
• 2016-06-29 Pending — MLSNOW
• 2016-06-25 Contingent — MLSNOW
• 2016-06-22 Relisted — MLSNOW
• 2016-05-28 Contingent — MLSNOW
• 2016-05-25 Listed $95,000 MLSNOW
• 2013-05-06 Listing Removed — MLSNOW
• 2012-05-06 Listed $94,900 MLSNOW
• 1998-04-27 Sold (MLS) $93,900 MLSNOW
• 1998-04-22 Sold (Public Records) $93,900 Public Records
• 1998-01-28 Listed $94,900 MLSNOW

Property tax history

+5.6%/yr

Latest (2025): $2,801 · -0.1% YoY. Source: county tax records.