216 Westwoods Lot 16 · Amherst, OH 44001

$19,900

2 bd · 1.0 ba · 952 sqft · SingleFamily · 56 Days on market

Built 1977 Fair condition $21/sqft · 33% below area Est $29k · 33% under $624/mo HOA · 47% of rent ↓ 20% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +5.9/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy living! Owner of 9 years improved the unit inside & out. Kitchen flooring was done 7/2025, exterior skirting & storm windows, all interior windows were reworked to function correctly. Roof was coated and seams sealed, interior & exterior painted, carpet in hallway & bedrooms, pedestal sink in bathroom, new smoke detectors were installed. All other windows were redone in 2023. Newer hot water tank, water lines were redone under the unit w/ heat tape around them installed 2025. Move in and make this home yours with your touch!

Key facts

• Exterior skirting
• Interior windows
• Roof coated

Tags

• KITCHEN FLOORING
• EXTERIOR SKIRTING
• STORM WINDOWS
• INTERIOR WINDOWS
• ROOF COATED
• SEAMS SEALED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.1% vs local median 3.9% in Amherst — 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 81/100 on livability (#100 in OH, #1,523 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Amherst Exempted Village (suburban): math 66% / reading 69% proficiency, ranked #160 of 656 in OH (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 116 active listings in the ZIP; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent is only 17% of the median local income ($91k/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 $138 of loan paydown is wiped out by about $597 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 47% of rent.

Recommended offer $19,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1977 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 6.62% ✓
• Cap rate: 23.08%
• Cash-on-cash: 59.97%
• DSCR: 3.67
• GRM: 1.3

CMA / ARV

• ARV (median comp): $29,491
• List price: $19,900
• Delta: -32.52%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 Westwoods Lot 216	0.00mi	2/1.0	952 (0%)	1mo	$19,500	$20	99
210 Westwoods	0.13mi	2/2.0	992 (+4%)	6mo	$30,000	$30	78
311 Westwoods #311	0.15mi	3/2.0 (+1)	1,080 (+13%)	6mo	$57,500	$53	56
184 Westwoods	0.34mi	2/1.0	864 (-9%)	18mo	$17,000	$20	54
6 Westwoods	0.42mi	2/1.0	863 (-9%)	19mo	$28,000	$32	50
459 S Lake St	0.75mi	2/1.0	1,092 (+15%)	14mo	$165,500	$152	29

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: 59.6%
• Equity multiple: 3.68×
• Total profit: $14,914
• Equity at exit: $2,967

10-year hold

• IRR: 64.5%
• Equity multiple: 7.72×
• Total profit: $37,463
• Equity at exit: $1,721

Cash invested: $5,572 (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 44001

• Active inventory: 116
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$104
• Tax est. 1.5%: −$25 /mo · $298/yr
• Insurance: −$8
• HOA: −$624
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $278

Break-even live

Break-even rent $964

Max offer price $19,900

Occupancy floor 74%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $624 · $7,488/yr
• Likely covers: water

Listing history 4 events

1. 2026-03-30
   price $19,900 570-char remark

   Show marketing remark (571 chars)

   Welcome to easy living! Owner of 9 years improved the unit inside & out. Kitchen flooring was done 7/2025, exterior skirting & storm windows, all interior windows were reworked to function correctly. Roof was coated and seams sealed, interior & exterior painted, carpet in hallway & bedrooms, pedestal sink in bathroom, new smoke detectors were installed. All other windows were redone in 2023. Newer hot water tank, water lines were redone under the unit w/ heat tape around them installed 2025. Move in and make this home yours with your touch!

2. 2026-03-30
   price $19,900 571-char remark

   Show marketing remark (571 chars)

   Welcome to easy living! Owner of 9 years improved the unit inside & out. Kitchen flooring was done 7/2025, exterior skirting & storm windows, all interior windows were reworked to function correctly. Roof was coated and seams sealed, interior & exterior painted, carpet in hallway & bedrooms, pedestal sink in bathroom, new smoke detectors were installed. All other windows were redone in 2023. Newer hot water tank, water lines were redone under the unit w/ heat tape around them installed 2025. Move in and make this home yours with your touch!

3. 2026-03-26
   listed $24,900 Active 570-char remark

   Show marketing remark (571 chars)

   Welcome to easy living! Owner of 9 years improved the unit inside & out. Kitchen flooring was done 7/2025, exterior skirting & storm windows, all interior windows were reworked to function correctly. Roof was coated and seams sealed, interior & exterior painted, carpet in hallway & bedrooms, pedestal sink in bathroom, new smoke detectors were installed. All other windows were redone in 2023. Newer hot water tank, water lines were redone under the unit w/ heat tape around them installed 2025. Move in and make this home yours with your touch!

4. 2026-03-26
   listed $24,900 Active 571-char remark

   Show marketing remark (571 chars)

   Welcome to easy living! Owner of 9 years improved the unit inside & out. Kitchen flooring was done 7/2025, exterior skirting & storm windows, all interior windows were reworked to function correctly. Roof was coated and seams sealed, interior & exterior painted, carpet in hallway & bedrooms, pedestal sink in bathroom, new smoke detectors were installed. All other windows were redone in 2023. Newer hot water tank, water lines were redone under the unit w/ heat tape around them installed 2025. Move in and make this home yours with your touch!

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,797
• − Mortgage interest: −$1,115
• − Property taxes: −$298
• − Insurance: −$100
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − HOA: −$7,488
• − Depreciation: −$579
• Taxable income: $3,690
• Est. tax owed @ 24.0%: −$886
• After-tax cash flow: $2,456/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

The home requires moderate repairs to the exterior siding and landscaping, but has good interior and mechanical systems. Painting the exterior and updating the landscaping would significantly increase its resale and rental value.

Repairs flagged

• Major Exterior siding — Weathered and in need of repainting or replacement.
• Minor Landscaping — Appears maintained but not recently updated.

Value-add opportunities

• Resale Painting exterior siding — Fresh paint can significantly improve curb appeal and home value.
• Rental Landscaping upgrade — A well-maintained yard can attract more renters and increase rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and in need of repainting or replacement.	Major	$15,000–50,000
Landscaping · Appears maintained but not recently updated.	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Resale Painting exterior siding — Fresh paint can significantly improve curb appeal and home value. ↑
• Rental Landscaping upgrade — A well-maintained yard can attract more renters and increase rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Amherst Exempted Village
• NCES district ID: 3904519
• Math proficiency: 66% ▼ -15.00%
• Reading proficiency: 69% ▼ -11.00%
• Median HH income: $63,459
• Composite: 58.58/100
• National rank: #988
• State rank: #160 of 656 in OH

Livability — Amherst

• Score: 81/100
• State rank: #100
• US rank: #1523

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lorain · 305,041 people
• Metro: Cleveland, OH
• Population (ZIP): 21,123
• Household income: $91,050
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 11.6

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 6% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 10% Slovak 3% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 1% Chinese 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: ▼ -113.43%
• Current HPI: 194.6753
• 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

-20.1% since first listed

4 events — show timeline

• 2026-03-30 Price Changed $19,900 FAOR
• 2026-03-30 Price Changed $19,900 MLSNOW
• 2026-03-26 Listed $24,900 MLSNOW
• 2026-03-26 Listed $24,900 FAOR