275 Ashwood Dr · Elyria, OH 44035

$55,500

3 bd · 2.5 ba · 1,680 sqft · Manufactured · 207 Days on market

Built 1994 $33/sqft · 32% above area Est $42k · 32% over ↓ 4% since listing

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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
• Schools +5.3/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Are you ready for easy living? Then schedule a showing today to experience comfort, convenience, and community in this spacious Dutch-style home that is perfectly situated in the highly sought-after Twin Lakes 55+ Community. With a thoughtfully designed layout and an abundance of amenities, this home offers the lifestyle you've been looking for. Step inside to find 3 generous bedrooms and 2.5 baths, along with multiple living spaces including a bright living room, a cozy family room, and plenty of room to relax or entertain. Outside your door, Twin Lakes offers unmatched community perks such as: Pickleball Courts, Dog Park, Fitness Center, Bingo Nights & Potluck Dinners, Fire Pit Gathering Area, Peaceful Ponds & Secure, Gated Entry! Whether you're enjoying quiet mornings by the water or joining neighbors for evening activities, this vibrant community lets you live life your way! Don't miss your chance to own a beautifully maintained home in one of the area's most desirable 55+ neighborhoods. New roof (2023) Appliances (2025) HVAC (2024)

Key facts

• Dog park
• Fitness center
• Pickleball courts

Tags

• DUTCH-STYLE HOME
• TWIN LAKES COMMUNITY
• PICKLEBALL COURTS
• DOG PARK
• FITNESS CENTER
• FIRE PIT GATHERING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $56k.

Deal economics

• At list price, monthly cash flow is $848 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $56k).
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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.
• Keystone Local (rural): math 55% / reading 67% proficiency, ranked #249 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• 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).
• This rent runs 33% of the median local income ($56k/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 $384 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y ago; this cycle's ask has dropped $3k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $56k implies a 71% gain — meaningful room to come down on a strong offer.

Recommended offer $48,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.81% ✓
• Cap rate: 24.62%
• Cash-on-cash: 65.47%
• DSCR: 3.91
• GRM: 3.0

CMA / ARV

• ARV (median comp): $42,000
• List price: $55,500
• Delta: 32.14%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.74% rent growth · sell at horizon

5-year hold

• IRR: 68.9%
• Equity multiple: 4.29×
• Total profit: $51,114
• Equity at exit: $8,275

10-year hold

• IRR: 74.1%
• Equity multiple: 10.08×
• Total profit: $141,110
• Equity at exit: $4,799

Cash invested: $15,540 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,559 medium
• Mortgage (P&I): −$291
• Tax est. 1.5%: −$69 /mo · $832/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $848

Break-even live

Break-even rent $486

Max offer price $55,500

Occupancy floor 41%

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: $13,875
• Closing costs: $1,665
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9005 Murray Ridge Rd Elyria, OH	3.0	3.5	1950	$2,095	$1.07	1d	1	0.55mi

Listing history 16 events

1. 2026-06-15
   status $55,500 Pending 207 DOM
2. 2026-06-15
   days on market $55,500 Active 207 DOM
3. 2026-06-13
   days on market $55,500 Active 205 DOM
4. 2026-06-09
   days on market $55,500 Active 201 DOM
5. 2026-06-08
   days on market $55,500 Active 200 DOM
6. 2026-06-07
   days on market $55,500 Active 199 DOM
7. 2026-06-03
   days on market $55,500 Active 195 DOM
8. 2026-06-02
   days on market $55,500 Active 194 DOM
9. 2026-06-01
   days on market $55,500 Active 193 DOM
10. 2026-05-31
    days on market $55,500 Active 192 DOM
11. 2026-03-23
    price $55,500 1064-char remark

    Show marketing remark (1064 chars)

    Are you ready for easy living? Then schedule a showing today to experience comfort, convenience, and community in this spacious Dutch-style home that is perfectly situated in the highly sought-after Twin Lakes 55+ Community. With a thoughtfully designed layout and an abundance of amenities, this home offers the lifestyle you've been looking for. Step inside to find 3 generous bedrooms and 2.5 baths, along with multiple living spaces including a bright living room, a cozy family room, and plenty of room to relax or entertain. Outside your door, Twin Lakes offers unmatched community perks such as: Pickleball Courts, Dog Park, Fitness Center, Bingo Nights & Potluck Dinners, Fire Pit Gathering Area, Peaceful Ponds & Secure, Gated Entry! Whether you're enjoying quiet mornings by the water or joining neighbors for evening activities, this vibrant community lets you live life your way! Don't miss your chance to own a beautifully maintained home in one of the area's most desirable 55+ neighborhoods. New roof (2023) Appliances (2025) HVAC (2024)

12. 2025-11-20
    listed $58,500 Active 1064-char remark

    Show marketing remark (1064 chars)

    Are you ready for easy living? Then schedule a showing today to experience comfort, convenience, and community in this spacious Dutch-style home that is perfectly situated in the highly sought-after Twin Lakes 55+ Community. With a thoughtfully designed layout and an abundance of amenities, this home offers the lifestyle you've been looking for. Step inside to find 3 generous bedrooms and 2.5 baths, along with multiple living spaces including a bright living room, a cozy family room, and plenty of room to relax or entertain. Outside your door, Twin Lakes offers unmatched community perks such as: Pickleball Courts, Dog Park, Fitness Center, Bingo Nights & Potluck Dinners, Fire Pit Gathering Area, Peaceful Ponds & Secure, Gated Entry! Whether you're enjoying quiet mornings by the water or joining neighbors for evening activities, this vibrant community lets you live life your way! Don't miss your chance to own a beautifully maintained home in one of the area's most desirable 55+ neighborhoods. New roof (2023) Appliances (2025) HVAC (2024)

13. 2002-09-18
    soldstatus $32,500
14. 2002-09-14
    listed $32,500
15. 1997-01-15
    historical
16. 1996-07-15
    listed $58,000

ⓘ 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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,704
• − Mortgage interest: −$3,109
• − Property taxes: −$832
• − Insurance: −$278
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$1,615
• Taxable income: $9,878
• Est. tax owed @ 24.0%: −$2,371
• After-tax cash flow: $7,803/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: Keystone Local
• NCES district ID: 3904816
• Math proficiency: 55% ▼ -16.00%
• Reading proficiency: 67% ▼ -11.00%
• Median HH income: $64,696
• Composite: 53.27/100
• National rank: #1493
• State rank: #249 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

-4.3% since first listed

6 events — show timeline

• 2026-03-23 Price Changed $55,500 MLSNOW
• 2025-11-20 Listed $58,500 MLSNOW
• 2002-09-18 Sold (MLS) $32,500 MLSNOW
• 2002-09-14 Listed $32,500 MLSNOW
• 1997-01-15 Listing Removed — MLSNOW
• 1996-07-15 Listed $58,000 MLSNOW