2556 Shakespeare Ln · Avon, OH 44011

$179,900

2 bd · 1.5 ba · 960 sqft · Townhouse public records · 117 Days on market

Built 1973 $187/sqft · at area comps Est $177k · at est. $387/mo HOA · 20% of rent

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Why this score? — see what drove the D 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 +11.1/30.0
• Schools +7.1/10.0
• ARV discount +6.8/15.0
• 1% rule +5.6/10.0
• Livability +3.6/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Totally updated, well-maintained, 2 Bedroom 1 ½ Bath Townhome with deeded garage and private fenced patio area. Updates include new white kitchen cabinets, granite countertops, tile backsplash, super upgraded appliances: including custom stainless vent hood, stainless steel farmhouse sink, built in pantry and floating granite breakfast bar. There is extensive use of recessed lighting on the 1st floor, newer bathrooms, ceiling fans in all bedrooms, new woodwork throughout, and newer LVP flooring. This home is definitely move-in ready.

Key facts

• Private fenced patio
• Deeded garage
• Recessed lighting

Tags

• DEEDED GARAGE
• PRIVATE FENCED PATIO
• TILE BACKSPLASH
• UPGRADED APPLIANCES
• RECESSED LIGHTING
• NEWER BATHROOMS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $-71 ($-852/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (7.0% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 2.3% in Avon — 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 72/100 on livability (#356 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Avon Local (suburban): math 77% / reading 84% proficiency, ranked #37 of 656 in OH (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Avon Heritage Elementary School (math 84% / reading 83%, grade A+, #96 of 1,584 statewide, top 6%, 972 students, 13% FRL); Avon Middle School (math 75% / reading 83%, grade A+, #54 of 654 statewide, top 9%, 1,084 students, 11% FRL); Avon High School (math 65% / reading 86%, grade A-, #65 of 781 statewide, top 8%, 1,456 students, 9% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: 130 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent is only 17% of the median local income ($136k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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

• It's been on market 117 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $163,709 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.06% ✓
• Cap rate: 5.82%
• Cash-on-cash: -1.69%
• DSCR: 0.92
• GRM: 7.9

CMA / ARV

• ARV (median comp): $177,198
• List price: $179,900
• Delta: 1.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2594 Shakespeare Ln	0.03mi	2/1.5	960 (0%)	8mo	$150,000	$156	92
2593 Shakespeare Ln	0.06mi	2/1.5	960 (0%)	10mo	$172,000	$179	89
2598 Shakespeare Ln	0.03mi	2/1.5	960 (0%)	16mo	$180,000	$188	86

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: -18.9%
• Equity multiple: 0.34×
• Total profit: $-33,442
• Equity at exit: $26,824

10-year hold

• IRR: -11.2%
• Equity multiple: 0.32×
• Total profit: $-34,003
• Equity at exit: $15,554

Cash invested: $50,372 (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 44011

• Active inventory: 130
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,901 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$168 /mo · $2,014/yr
• Insurance: −$75
• HOA: −$387
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-71

Break-even live

Break-even rent $1,991

Max offer price $167,358

Occupancy floor 99%

Sensitivity live

Price	-10% $31	-5% $-20	+0% $-71	+5% $-122	+10% $-173
Rent	-10% $-221	-5% $-146	+0% $-71	+5% $4	+10% $79
Rate	-1.0pp $20	-0.5pp $-25	base $-71	+0.5pp $-118	+1.0pp $-165

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2587 Jaycox Rd Avon, OH	2.0	1.0	900	$1,800	$2.00	9d	1	0.49mi
33434 Jennie Rd Unit 33440 Avon, OH	3.0	1.0	962	$1,700	$1.77	45d	1	1.23mi
36550 Chester Rd Avon, OH	1.0–3.0	1.0–2.0	1039	$1,908	$1.84	3d	12	1.27mi

HOA detail

• Monthly dues: $387 · $4,644/yr

Listing history 22 events

1. 2026-06-21
   days on market $179,900 Active 117 DOM
2. 2026-06-18
   days on market $179,900 Active 114 DOM
3. 2026-06-17
   days on market $179,900 Active 113 DOM
4. 2026-06-16
   days on market $179,900 Active 112 DOM
5. 2026-06-15
   days on market $179,900 Active 111 DOM
6. 2026-06-13
   days on market $179,900 Active 109 DOM
7. 2026-06-09
   days on market $179,900 Active 105 DOM
8. 2026-06-08
   days on market $179,900 Active 104 DOM
9. 2026-06-07
   days on market $179,900 Active 103 DOM
10. 2026-06-05
    days on market $179,900 Active 100 DOM
11. 2026-06-03
    days on market $179,900 Active 99 DOM
12. 2026-06-02
    days on market $179,900 Active 98 DOM
13. 2026-06-01
    days on market $179,900 Active 97 DOM
14. 2026-05-31
    days on market $179,900 Active 96 DOM
15. 2026-04-29
    price $179,900 546-char remark

    Show marketing remark (546 chars)

    Totally updated, well-maintained, 2 Bedroom 1 ½ Bath Townhome with deeded garage and private fenced patio area. Updates include new white kitchen cabinets, granite countertops, tile backsplash, super upgraded appliances: including custom stainless vent hood, stainless steel farmhouse sink, built in pantry and floating granite breakfast bar. There is extensive use of recessed lighting on the 1st floor, newer bathrooms, ceiling fans in all bedrooms, new woodwork throughout, and newer LVP flooring. This home is definitely move-in ready.

16. 2026-03-28
    price $183,900 546-char remark

    Show marketing remark (546 chars)

    Totally updated, well-maintained, 2 Bedroom 1 ½ Bath Townhome with deeded garage and private fenced patio area. Updates include new white kitchen cabinets, granite countertops, tile backsplash, super upgraded appliances: including custom stainless vent hood, stainless steel farmhouse sink, built in pantry and floating granite breakfast bar. There is extensive use of recessed lighting on the 1st floor, newer bathrooms, ceiling fans in all bedrooms, new woodwork throughout, and newer LVP flooring. This home is definitely move-in ready.

17. 2026-03-02
    price $189,000 546-char remark

    Show marketing remark (546 chars)

    Totally updated, well-maintained, 2 Bedroom 1 ½ Bath Townhome with deeded garage and private fenced patio area. Updates include new white kitchen cabinets, granite countertops, tile backsplash, super upgraded appliances: including custom stainless vent hood, stainless steel farmhouse sink, built in pantry and floating granite breakfast bar. There is extensive use of recessed lighting on the 1st floor, newer bathrooms, ceiling fans in all bedrooms, new woodwork throughout, and newer LVP flooring. This home is definitely move-in ready.

18. 2026-02-21
    listed $185,000 Active 546-char remark

    Show marketing remark (546 chars)

    Totally updated, well-maintained, 2 Bedroom 1 ½ Bath Townhome with deeded garage and private fenced patio area. Updates include new white kitchen cabinets, granite countertops, tile backsplash, super upgraded appliances: including custom stainless vent hood, stainless steel farmhouse sink, built in pantry and floating granite breakfast bar. There is extensive use of recessed lighting on the 1st floor, newer bathrooms, ceiling fans in all bedrooms, new woodwork throughout, and newer LVP flooring. This home is definitely move-in ready.

19. 2024-02-08
    soldstatus $120,000
20. 2016-06-02
    soldstatus $38,100
21. 2003-02-25
    soldstatus $86,000
22. 1995-12-21
    soldstatus $79,900

ⓘ 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: $2,014 · $168/mo
• Projected year-2 tax: $2,410 · $201/mo
• Expected delta: +$396/yr (+$33/mo · 19.7%)

ⓘ 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: $22,818
• − Mortgage interest: −$10,077
• − Property taxes: −$2,014
• − Insurance: −$900
• − Repairs & maintenance: −$1,825
• − Management: −$1,825
• − HOA: −$4,644
• − Depreciation: −$5,233
• Taxable loss: −$3,701
• Est. tax savings @ 24.0%: +$888
• After-tax cash flow: $36/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 Local
• NCES district ID: 3904811
• Math proficiency: 77% ▼ -10.00%
• Reading proficiency: 84% ▼ -5.00%
• Median HH income: $84,034
• Composite: 71.3/100
• National rank: #230
• State rank: #37 of 656 in OH

Livability — Avon

• Score: 72/100
• State rank: #356
• US rank: #5751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Avon, OH
• County: Lorain County · 219,437 people
• City population: 25,317
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 25,317
• Household income: $135,915
• Rent vs Own: 11.7% rent · 88.3% own
• Severe rent burden: 303.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Two or more races 4% Black 4% Asian 3%
• Common ancestry: Romanian 7% Slovak 4% Scotch-Irish 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% Other Asian/Pacific 1% Arabic 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: ▼ -134.55%
• Current HPI: 191.9412
• 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

+125.2% since first listed

8 events — show timeline

• 2026-04-29 Price Changed $179,900 MLSNOW
• 2026-03-28 Price Changed $183,900 MLSNOW
• 2026-03-02 Price Changed $189,000 MLSNOW
• 2026-02-21 Listed $185,000 MLSNOW
• 2024-02-08 Sold (Public Records) $120,000 Public Records
• 2016-06-02 Sold (Public Records) $38,100 Public Records
• 2003-02-25 Sold (Public Records) $86,000 Public Records
• 1995-12-21 Sold (Public Records) $79,900 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,014 · -0.3% YoY. Source: county tax records.