1798 E 337th St · Eastlake, OH 44095

$85,000

3 bd · 1.0 ba · 1,800 sqft · SingleFamily public records · 90 Days on market

Built 1952 0.84 ac lot

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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
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Included Parcel # 34a002c000280 + 035 0

Key facts

• 0.84 acre lot
• Parking
• Built 1952

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 4.8% in Eastlake — 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 68/100 on livability (#550 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.
• Willoughby-Eastlake City (suburban): math 42% / reading 58% proficiency, ranked #434 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 129 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($72k/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 $588 of loan paydown is wiped out by about $3k 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 + 4.8% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $35k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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: 2.24% ✓
• Cap rate: 17.85%
• Cash-on-cash: 41.27%
• DSCR: 2.84
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $241,200
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1798 E 337th St	0.00mi	3/1.0	1,800 (0%)	1mo	$61,555	$34	99
31716 Daniel Dr	0.48mi	3/1.5	1,733 (-4%)	7mo	$226,000	$130	63
853 Bayridge Blvd	0.41mi	3/1.5	1,600 (-11%)	9mo	$240,000	$150	53
725 Pendley Rd	0.59mi	4/1.5 (+1)	1,584 (-12%)	7mo	$163,900	$103	40
732 Pendley Rd	0.61mi	3/2.0	1,600 (-11%)	11mo	$230,000	$144	40
1605 Luanna Dr	0.38mi	4/2.0 (+1)	1,625 (-10%)	22mo	$218,000	$134	38
30612 Ronald Dr	0.75mi	3/2.0	1,586 (-12%)	12mo	$260,000	$164	31

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 · 4.81% rent growth · sell at horizon

5-year hold

• IRR: 40.0%
• Equity multiple: 2.76×
• Total profit: $41,969
• Equity at exit: $12,674

10-year hold

• IRR: 47.3%
• Equity multiple: 6.00×
• Total profit: $119,049
• Equity at exit: $7,349

Cash invested: $23,800 (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 44095

• Rents YoY: 4.8%
• Active inventory: 129
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,903 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$204 /mo · $2,445/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $818

Break-even live

Break-even rent $867

Max offer price $85,000

Occupancy floor 52%

Sensitivity live

Price	-10% $867	-5% $842	+0% $818	+5% $794	+10% $770
Rent	-10% $668	-5% $743	+0% $818	+5% $894	+10% $969
Rate	-1.0pp $861	-0.5pp $840	base $818	+0.5pp $796	+1.0pp $774

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
762 E 305th St Willowick, OH	3.0	1.0	2436	$2,000	$0.82	2d	1	0.78mi
30620 Euclid Ave Wickliffe, OH	2.0	1.0	1500	$1,500	$1.00	3d	1	0.79mi
1902 Harding Dr Wickliffe, OH	3.0	2.0	2376	$2,300	$0.97	44d	1	1.15mi
459 Clarmont Rd Willowick, OH	4.0	2.0	1488	$1,875	$1.26	44d	1	1.27mi

Listing history 12 events

1. 2026-02-04
   status Pending
2. 2026-01-21
   price $85,000
3. 2026-01-17
   price $94,900
4. 2025-12-17
   price $99,900
5. 2025-11-25
   price $114,000
6. 2025-11-06
   listed $120,000 Active
7. 2025-09-13
   historical
8. 2025-08-17
   listed $195,000 Active
9. 2025-08-08
   soldstatus $100,200
10. 2004-09-23
    soldstatus $99,000 39-char remark

    Show marketing remark (39 chars)

    Included Parcel # 34a002c000280 + 035 0

11. 2004-06-12
    listed $99,900 39-char remark

    Show marketing remark (39 chars)

    Included Parcel # 34a002c000280 + 035 0

12. 1994-12-19
    soldstatus $70,000

ⓘ 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: $2,445 · $204/mo
• Projected year-2 tax: $2,445 · $204/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 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,836
• − Mortgage interest: −$4,761
• − Property taxes: −$2,445
• − Insurance: −$425
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − Depreciation: −$2,473
• Taxable income: $9,078
• Est. tax owed @ 24.0%: −$2,179
• After-tax cash flow: $7,642/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: Willoughby-Eastlake City
• NCES district ID: 3904510
• Math proficiency: 42% ▼ -21.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $52,500
• Composite: 42.96/100
• National rank: #3110
• State rank: #434 of 656 in OH

Livability — Eastlake

• Score: 68/100
• State rank: #550
• US rank: #9388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastlake, OH
• County: Lake County · 204,927 people
• City population: 32,363
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 32,363
• Household income: $71,543
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 590.0

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 (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Russian/Polish/Slavic 3% Spanish 1% German/W. Germanic 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: ▼ -187.78%
• Current HPI: 171.8121
• Rent YoY: ▲ 4.81%
• 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

+21.4% since first listed

12 events — show timeline

• 2026-02-04 Pending — MLSNOW
• 2026-01-21 Price Changed $85,000 MLSNOW
• 2026-01-17 Price Changed $94,900 MLSNOW
• 2025-12-17 Price Changed $99,900 MLSNOW
• 2025-11-25 Price Changed $114,000 MLSNOW
• 2025-11-06 Listed $120,000 MLSNOW
• 2025-09-13 Listing Removed — MLSNOW
• 2025-08-17 Listed $195,000 MLSNOW
• 2025-08-08 Sold (Public Records) $100,200 Public Records
• 2004-09-23 Sold (MLS) $99,000 MLSNOW
• 2004-06-12 Listed $99,900 MLSNOW
• 1994-12-19 Sold (Public Records) $70,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $2,445 · -2.2% YoY. Source: county tax records.