41589 Northwood St · Elyria, OH 44035

$134,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 59 Days on market

Built 1920 3,049 sqft lot Est $138k · at est.

---

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 +14.8/30.0
• ARV discount +8.6/15.0
• DSCR +4.5/10.0
• Rent growth +4.2/5.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 41589 Northwood St in Elyria, a 3-bedroom, 1-bath Cape Cod style home full of character and opportunity. This home is perfect for buyers looking to add their own personal touch, as it needs some cosmetic TLC while offering solid features and long-term value. Step outside and you’ll find a beautifully maintained yard, ideal for gardening enthusiasts. The property boasts a variety of colorful flowers and fruit-bearing plants, creating a peaceful outdoor retreat and a rewarding space for anyone who loves to garden or spend time outdoors. Inside, the home offers a practical layout with three bedrooms and classic Cape Cod charm. A new furnace provides peace of mind and improved

Key facts

• New furnace
• Colorful flowers
• Fruit-bearing plants

Tags

• BEAUTIFULLY MAINTAINED YARD
• COLORFUL FLOWERS
• FRUIT-BEARING PLANTS
• PEACEFUL OUTDOOR RETREAT
• NEW FURNACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $36 ($430/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (12.1% below list).
• Recommended offer: $119k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $135k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,522 (12.1% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.14%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $138,240
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
41719 Elmwood St	0.14mi	2/1.0 (-1)	1,051 (-3%)	8mo	$88,000	$84	77
41420 Northwood St	0.19mi	3/1.0	1,008 (-7%)	10mo	$163,000	$162	72
41651 Northwood St	0.06mi	2/2.0 (-1)	1,204 (+12%)	1mo	$165,000	$137	68
5048 Grove Ave	0.57mi	3/1.0	1,182 (+9%)	10mo	$105,000	$89	49
5331 Ridgewood St	0.54mi	3/1.0	960 (-11%)	11mo	$142,900	$149	47
5114 Liberty Ave	0.70mi	3/1.5	968 (-10%)	10mo	$124,100	$128	40
42048 Wilbur St	0.50mi	2/1.0 (-1)	1,200 (+11%)	19mo	$52,500	$44	37
5268 Liberty Ave	0.68mi	3/2.0	1,229 (+14%)	23mo	$157,000	$128	22

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: -10.5%
• Equity multiple: 0.60×
• Total profit: $-14,951
• Equity at exit: $20,114

10-year hold

• IRR: 3.3%
• Equity multiple: 1.28×
• Total profit: $10,423
• Equity at exit: $11,664

Cash invested: $37,772 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,185 high
• Mortgage (P&I): −$707
• Tax from tax record: −$137 /mo · $1,642/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $36

Break-even live

Break-even rent $1,140

Max offer price $134,900

Occupancy floor 92%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2056 McKinley Ave Lorain, OH	2.0	1.0	768	$1,195	$1.56	1d	1	0.27mi
3979 Gary Ave Unit 3979 2 Lorain, OH	2.0	1.0	896	$1,025	$1.14	43d	1	1.32mi
4850 Oneil Blvd Lorain, OH	2.0–3.0	1.0–1.5	981	$915	$0.93	1d	1	1.43mi
1777 E 37th St Unit 1777 Lorain, OH	2.0	1.0	800	$1,150	$1.44	1d	1	1.48mi
2484 E 38th St Lorain, OH	3.0	1.5	1101	$1,295	$1.18	43d	1	1.50mi

Listing history 24 events

1. 2026-06-18
   days on market $134,900 Active 59 DOM
2. 2026-06-17
   days on market $134,900 Active 58 DOM
3. 2026-06-16
   days on market $134,900 Active 57 DOM
4. 2026-06-15
   days on market $134,900 Active 56 DOM
5. 2026-06-13
   days on market $134,900 Active 54 DOM
6. 2026-06-13
   days on market $134,900 Active 53 DOM
7. 2026-06-09
   days on market $134,900 Active 50 DOM
8. 2026-06-08
   days on market $134,900 Active 49 DOM
9. 2026-06-07
   days on market $134,900 Active 48 DOM
10. 2026-06-03
    days on market $134,900 Active 44 DOM
11. 2026-06-02
    days on market $134,900 Active 43 DOM
12. 2026-06-01
    days on market $134,900 Active 42 DOM
13. 2026-05-31
    days on market $134,900 Active 41 DOM
14. 2026-05-08
    price $134,900
15. 2026-04-17
    listed $159,900 Active
16. 2015-05-05
    historical
17. 2015-04-07
    price $49,900
18. 2015-03-04
    listed $55,500 Active
19. 2012-08-31
    historical
20. 2011-11-05
    listed $56,800
21. 2006-06-23
    soldstatus $76,500
22. 2006-06-23
    soldstatus $76,500
23. 2006-03-13
    listed $77,775
24. 1992-09-24
    soldstatus $5,000

ⓘ 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: $1,642 · $137/mo
• Projected year-2 tax: $1,873 · $156/mo
• Expected delta: +$231/yr (+$19/mo · 14.1%)

ⓘ 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 ≥99°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: $14,223
• − Mortgage interest: −$7,556
• − Property taxes: −$1,642
• − Insurance: −$674
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$3,924
• Taxable loss: −$1,851
• Est. tax savings @ 24.0%: +$444
• After-tax cash flow: $874/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

• 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

+2598.0% since first listed

11 events — show timeline

• 2026-05-08 Price Changed $134,900 MLSNOW
• 2026-04-17 Listed $159,900 MLSNOW
• 2015-05-05 Listing Removed — MLSNOW
• 2015-04-07 Price Changed $49,900 MLSNOW
• 2015-03-04 Listed $55,500 MLSNOW
• 2012-08-31 Listing Removed — MLSNOW
• 2011-11-05 Listed $56,800 MLSNOW
• 2006-06-23 Sold (Public Records) $76,500 Public Records
• 2006-06-23 Sold (MLS) $76,500 MLSNOW
• 2006-03-13 Listed $77,775 MLSNOW
• 1992-09-24 Sold (Public Records) $5,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,642 · +1.8% YoY. Source: county tax records.