245 George St · Elyria, OH 44035

$104,900

3 bd · 1.0 ba · 1,436 sqft · SingleFamily public records · 3 Days on market

Built 1999 2,613 sqft lot Est $185k · 43% under

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.9/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

We are looking for a new homeowner to love this large 4 or 5 bedroom colonial. Nice front porch. Large foyer/entry, large living room, large formal dining room and a spacious kitchen complete the 1st floor. The 2nd floor you'll find 2 large bedrooms and a small bedroom perfect for an office or nursery. The 3rd floor is finished with 2 additional bedrooms. Full basement. Nice screened in rear porch, large storage shed. Close to schools, shopping, medical facilities and highways. Call today.

Key facts

• Finished third floor
• Formal dining room
• Large foyer

Tags

• FRONT PORCH
• LARGE FOYER
• FORMAL DINING ROOM
• SPACIOUS KITCHEN
• FINISHED THIRD FLOOR
• SCREENED IN REAR PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 8.6% 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.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.7%/yr); 356 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 34y 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.

Recommended offer $104,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.09% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.41%
• DSCR: 1.37
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $185,244
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
348 11th Ave	0.18mi	3/1.0	1,418 (-1%)	3mo	$75,000	$53	87
1512 Middle Ave	0.26mi	3/1.5	1,476 (+3%)	0mo	$164,000	$111	81
1122 West Ave	0.22mi	4/1.5 (+1)	1,392 (-3%)	4mo	$140,000	$101	75
229 Vassar Ave	0.49mi	3/1.5	1,470 (+2%)	1mo	$240,000	$163	70
140 Miami Ave	0.43mi	3/2.0	1,418 (-1%)	4mo	$219,000	$154	70
142 4th St	0.55mi	3/1.0	1,428 (-1%)	4mo	$120,000	$84	70
1101 West Ave	0.24mi	3/2.0	1,306 (-9%)	2mo	$168,000	$129	68
508 12th St	0.36mi	3/1.5	1,291 (-10%)	3mo	$134,050	$104	62
176 Pinewood Dr	0.28mi	4/1.5 (+1)	1,612 (+12%)	0mo	$216,000	$134	59
345 Miami Ave	0.71mi	3/1.5	1,514 (+5%)	0mo	$225,000	$149	55
1920 Middle Ave	0.64mi	3/2.0	1,584 (+10%)	2mo	$210,000	$133	48
119 Cornell Ave	0.47mi	4/3.5 (+1)	1,639 (+14%)	1mo	$191,000	$117	38

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 · 6.74% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $601
• Equity at exit: $15,641

10-year hold

• IRR: 13.6%
• Equity multiple: 2.27×
• Total profit: $37,291
• Equity at exit: $9,070

Cash invested: $29,372 (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 44035

• Rents YoY: 6.7%
• Active inventory: 356
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,148 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$107 /mo · $1,289/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $206

Break-even live

Break-even rent $888

Max offer price $104,900

Occupancy floor 77%

Sensitivity live

Price	-10% $265	-5% $236	+0% $206	+5% $176	+10% $147
Rent	-10% $115	-5% $161	+0% $206	+5% $251	+10% $297
Rate	-1.0pp $259	-0.5pp $233	base $206	+0.5pp $179	+1.0pp $151

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1309 Middle Ave Elyria, OH	2.0	1.0	1000	$795	$0.80	44d	1	0.19mi
222 Georgia Ave Elyria, OH	3.0	2.5	1850	$1,750	$0.95	2d	1	0.52mi
116 Water St Elyria, OH	2.0	1.0	888	$1,100	$1.24	24d	1	0.88mi
10425 Middle Ave Elyria, OH	3.0–4.0	2.0	1424	$1,209	$0.85	2d	1	1.17mi

Listing history 5 events

1. 2026-06-10
   status $104,900 Pending 3 DOM
2. 2026-06-09
   days on market $104,900 Active 3 DOM
3. 2026-06-08
   days on market $104,900 Active 2 DOM
4. 2026-06-07
   remarks 494-char remark
5. 2026-06-07
   listed $104,900 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: $1,289 · $107/mo
• Projected year-2 tax: $1,463 · $122/mo
• Expected delta: +$174/yr (+$14/mo · 13.5%)

ⓘ 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 · 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: $13,779
• − Mortgage interest: −$5,876
• − Property taxes: −$1,289
• − Insurance: −$524
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$3,052
• Taxable income: $833
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $2,271/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: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 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

+102.1% since first listed

5 events — show timeline

• 2026-06-06 Listed $104,900 MLSNOW
• 1994-06-30 Listing Removed — MLSNOW
• 1994-03-31 Listed $53,900 MLSNOW
• 1992-04-21 Listing Removed — MLSNOW
• 1992-01-21 Listed $51,900 MLSNOW

Property tax history

+8.3%/yr

Latest (2025): $1,289 · +2.0% YoY. Source: county tax records.