199 Mathews St · Painesville, OH 44077

$50,000

3 bd · 1.0 ba · 850 sqft · SingleFamily public records · 5 Days on market

Built 1930 9,147 sqft lot

---

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
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 1-bath home situated on a . 21-acre lot on a quiet dead-end street. The first floor offers comfortable living space, while the second floor features a spacious bedroom plus an additional tandem room ideal for a home office, hobby space, or extra storage. This property is a great opportunity to make it your own, add to your rental portfolio, or consider as an investment project. Plenty of potential throughout and a lot size that provides room to enjoy the outdoors. Home is being sold as-is.

Key facts

• Spacious bedroom
• 21-acre lot
• Hobby space

Tags

• 21-ACRE LOT
• QUIET DEAD-END STREET
• COMFORTABLE LIVING SPACE
• SPACIOUS BEDROOM
• HOME OFFICE
• HOBBY SPACE

Property features AI

Finance

• Other: Annual taxes reported

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-family property; 850 above-grade finished area; Slab foundation
• Construction: Built per public records; Vinyl siding; Metal roof
• Exterior features: 0.21 acre lot

Interior

• Bedrooms: 1 main-level bedroom
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Heating present
• Interior features: Fixer condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 18.8% vs local median 2.9% in Painesville — 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 (#360 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Painesville City Local (suburban): math 28% / reading 35% proficiency, ranked #577 of 656 in OH (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.7%/yr); 267 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($85k/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 $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.37% ✓
• Cap rate: 18.76%
• Cash-on-cash: 44.54%
• DSCR: 2.98
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $151,300
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
199 Mathews St	0.00mi	2/1.0 (-1)	850 (0%)	1mo	$50,000	$59	94
191 Mathews St	0.01mi	3/1.0	956 (+12%)	2mo	$55,000	$58	78
358 Marion Ave	0.70mi	2/1.0 (-1)	858 (+1%)	0mo	$157,000	$183	60
169 W South St	0.52mi	2/2.0 (-1)	960 (+13%)	5mo	$171,000	$178	41

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 2.85×
• Total profit: $25,868
• Equity at exit: $7,455

10-year hold

• IRR: 48.9%
• Equity multiple: 5.91×
• Total profit: $68,775
• Equity at exit: $4,323

Cash invested: $14,000 (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 44077

• Rents YoY: 3.7%
• Active inventory: 267
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,183 high
• Mortgage (P&I): −$262
• Tax from tax record: −$132 /mo · $1,579/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $520

Break-even live

Break-even rent $525

Max offer price $50,000

Occupancy floor 51%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
551 W Jackson St Unit RFV A201 Painesville, OH	2.0	1.0	860	$1,045	$1.22	43d	1	0.41mi
45 W High St Apt 211 Painesville, OH	2.0	1.0	665	$855	$1.29	43d	1	0.57mi
244 E Prospect St Painesville, OH	2.0	1.0	1000	$1,195	$1.20	1d	1	0.60mi
48 Pearl St Painesville, OH	2.0	1.0	950	$1,250	$1.32	43d	1	0.77mi
52 Kensington Ave Unit 52K 3 Painesville, OH	2.0	1.0	850	$920	$1.08	43d	1	1.04mi
1059 Richmond Rd Painesville, OH	1.0–2.0	1.0	625	$1,200	$1.92	1d	1	1.19mi

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-05-07
   listed $50,000 Active

ⓘ 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: $1,579 · $132/mo
• Projected year-2 tax: $1,579 · $132/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 2/10 Low 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,192
• − Mortgage interest: −$2,801
• − Property taxes: −$1,579
• − Insurance: −$250
• − Repairs & maintenance: −$1,135
• − Management: −$1,135
• − Depreciation: −$1,455
• Taxable income: $5,836
• Est. tax owed @ 24.0%: −$1,401
• After-tax cash flow: $4,835/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: Painesville City Local
• NCES district ID: 3910015
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $35,381
• Composite: 26.03/100
• National rank: #7309
• State rank: #577 of 656 in OH

Livability — Painesville

• Score: 72/100
• State rank: #360
• US rank: #5785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Painesville, OH
• County: Lake County · 204,927 people
• City population: 57,325
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 57,325
• Household income: $85,056
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1333.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.05%
• Current HPI: 181.2976
• Rent YoY: ▲ 3.68%
• 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

2 events — show timeline

• 2026-05-12 Pending — MLSNOW
• 2026-05-07 Listed $50,000 MLSNOW

Property tax history

+1.3%/yr

Latest (2025): $1,579 · -1.6% YoY. Source: county tax records.