507 W Smith · Medina, OH 44256

$155,000

3 bd · 1.0 ba · 994 sqft · SingleFamily public records · 5 Days on market

Built 1915 9,583 sqft lot Est $204k · 24% under

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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 +18.4/30.0
• ARV discount +15.0/15.0
• Schools +6.3/10.0
• DSCR +5.8/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this darling Cape Code home that is close to Medina square and walking distance to Lagerheads and the Medina County Fairgrounds! A charming front porch to sit on and enjoy a cup of coffee. The dining room is the perfect spot for entertaining and has a lovely window seat with a large picture window to let in natural sunlight. Three nicely sized bedrooms to make your own. A large backyard with a nice deck to enjoy during those warm Ohio days!

Key facts

• Formal dining room
• Sun porch
• Original built ins

Tags

• FIRST FLOOR BEDROOM
• HARDWOOD FLOORS
• ORIGINAL BUILT INS
• SPACIOUS KITCHEN
• FORMAL DINING ROOM
• SUN PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/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 $152k (2.0% below list).
• Recommended offer: $152k (2.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.9% in Medina — 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 76/100 on livability (#209 in OH, #3,302 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Medina City SD (suburban): math 70% / reading 74% proficiency, ranked #115 of 656 in OH (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.2%/yr); 369 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 471 units permitted in Medina County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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.
• Current owner paid $128k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,963 (2.0% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.98% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $203,770
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 W Smith	0.00mi	3/1.0	994 (0%)	1mo	$165,600	$167	100
515 Bolivar	0.25mi	3/2.0	1,040 (+5%)	0mo	$195,000	$188	76
316 S Prospect St	0.06mi	2/1.0 (-1)	875 (-12%)	1mo	$170,000	$194	72
822 Oak St	0.65mi	3/1.0	968 (-3%)	7mo	$198,000	$205	59
522 Pine St	0.59mi	3/2.0	972 (-2%)	7mo	$249,000	$256	59
230 W Union St	0.57mi	2/1.0 (-1)	968 (-3%)	9mo	$118,000	$122	57
237 W Union St	0.58mi	3/1.0	1,056 (+6%)	12mo	$115,000	$109	53
528 Pine St	0.60mi	3/3.0	996 (+0%)	14mo	$257,000	$258	52
146 Bradway St	0.66mi	3/1.0	1,080 (+9%)	4mo	$150,000	$139	52
107 Circle Dr	0.39mi	3/1.5	864 (-13%)	14mo	$226,000	$262	47
723 Spruce St	0.70mi	3/2.0	1,056 (+6%)	12mo	$265,000	$251	43
320 E Friendship St	0.67mi	3/2.0	1,119 (+13%)	11mo	$269,900	$241	34

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.67×
• Total profit: $-14,162
• Equity at exit: $23,111

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $7,042
• Equity at exit: $13,402

Cash invested: $43,400 (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 44256

• Rents YoY: 4.2%
• Active inventory: 369
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$813
• Tax from tax record: −$179 /mo · $2,154/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $144

Break-even live

Break-even rent $1,338

Max offer price $155,000

Occupancy floor 86%

Sensitivity live

Price	-10% $231	-5% $187	+0% $144	+5% $100	+10% $56
Rent	-10% $24	-5% $84	+0% $144	+5% $204	+10% $264
Rate	-1.0pp $222	-0.5pp $183	base $144	+0.5pp $103	+1.0pp $63

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
427 Lafayette Rd Medina, OH	2.0	1.0	840	$1,143	$1.36	3d	2	0.20mi
227 N Broadway St Medina, OH	2.0	1.0	823	$1,295	$1.57	17d	1	0.56mi
221 N State Rd Medina, OH	1.0–3.0	1.0	541	$1,205	$2.23	3d	6	0.61mi
699 N Huntington St Medina, OH	1.0–2.0	1.0	725	$1,600	$2.21	3d	1	0.75mi
195 Highland Dr Medina, OH	3.0	1.0	1080	$1,800	$1.67	45d	1	0.95mi
300 Northland Dr Medina, OH	2.0	1.0	1064	$1,300	$1.22	5d	1	1.15mi
900 Dawn Ct Medina, OH	2.0	1.0	864	$1,053	$1.22	18d	1	1.27mi
985 Wadsworth Rd Medina, OH	2.0	1.5	1100	$1,250	$1.14	45d	1	1.32mi
956 W Liberty St Medina, OH	2.0	1.5	960	$1,495	$1.56	25d	1	1.32mi
987 Wadsworth Rd Medina, OH	2.0	1.0	1000	$1,250	$1.25	45d	1	1.34mi

Listing history 8 events

1. 2026-04-27
   status Pending
2. 2026-04-22
   listed $155,000 Active
3. 2021-05-26
   soldstatus $128,000 Closed 455-char remark

   Show marketing remark (455 chars)

   Welcome to this darling Cape Code home that is close to Medina square and walking distance to Lagerheads and the Medina County Fairgrounds! A charming front porch to sit on and enjoy a cup of coffee. The dining room is the perfect spot for entertaining and has a lovely window seat with a large picture window to let in natural sunlight. Three nicely sized bedrooms to make your own. A large backyard with a nice deck to enjoy during those warm Ohio days!

4. 2021-04-09
   status Pending 455-char remark

   Show marketing remark (455 chars)

   Welcome to this darling Cape Code home that is close to Medina square and walking distance to Lagerheads and the Medina County Fairgrounds! A charming front porch to sit on and enjoy a cup of coffee. The dining room is the perfect spot for entertaining and has a lovely window seat with a large picture window to let in natural sunlight. Three nicely sized bedrooms to make your own. A large backyard with a nice deck to enjoy during those warm Ohio days!

5. 2021-04-05
   listed $119,900 Active 455-char remark

   Show marketing remark (455 chars)

   Welcome to this darling Cape Code home that is close to Medina square and walking distance to Lagerheads and the Medina County Fairgrounds! A charming front porch to sit on and enjoy a cup of coffee. The dining room is the perfect spot for entertaining and has a lovely window seat with a large picture window to let in natural sunlight. Three nicely sized bedrooms to make your own. A large backyard with a nice deck to enjoy during those warm Ohio days!

6. 2004-05-28
   soldstatus $104,000
7. 2004-05-26
   soldstatus $104,000 187-char remark

   Show marketing remark (187 chars)

   Recent Improvements Include Storm Windows, Roof, Air Conditioning, Furnace & Siding. First Floor Office. Great Front Porch. Warranty Provided. Minutes From Medina's Historic Square.

8. 2004-03-31
   listed $108,000 187-char remark

   Show marketing remark (187 chars)

   Recent Improvements Include Storm Windows, Roof, Air Conditioning, Furnace & Siding. First Floor Office. Great Front Porch. Warranty Provided. Minutes From Medina's Historic Square.

ⓘ 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: $2,154 · $179/mo
• Projected year-2 tax: $2,286 · $190/mo
• Expected delta: +$132/yr (+$11/mo · 6.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,236
• − Mortgage interest: −$8,682
• − Property taxes: −$2,154
• − Insurance: −$775
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − Depreciation: −$4,509
• Taxable loss: −$802
• Est. tax savings @ 24.0%: +$193
• After-tax cash flow: $1,916/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: Medina City SD
• NCES district ID: 3904438
• Math proficiency: 70% ▼ -8.00%
• Reading proficiency: 74% ▼ -4.00%
• Median HH income: $69,725
• Composite: 62.9/100
• National rank: #661
• State rank: #115 of 656 in OH

Livability — Medina

• Score: 76/100
• State rank: #209
• US rank: #3302

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Medina, OH
• County: Medina County · 145,517 people
• City population: 64,924
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 64,924
• Household income: $99,923
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 919.0

Population outlook (Medina County) Hauer SSP2

• Today (2025): 185,249 people
• By 2030: 188,174 · +1.6%
• By 2040: 190,350 · +2.8%
• By 2050: 187,283 · +1.1%
• By 2075: 177,108 · -4.4%
• By 2100: 151,304 · -18.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 9% Italian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Medina

• 2024 margin: Strong R (+24.8) · D 37.2% · R 62.0%
• 2008→2024 swing: -16.8pp toward R · 2008: -8.0pp · 2024: -24.8pp
• All cycles: 2024: R+24.8 2020: R+23.4 2016: R+24.9 2012: R+13.1 2008: R+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -191.25%
• Current HPI: 257.2597
• Rent YoY: ▲ 4.16%
• 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

+43.5% since first listed

8 events — show timeline

• 2026-04-27 Pending — MLSNOW
• 2026-04-22 Listed $155,000 MLSNOW
• 2021-05-26 Sold (MLS) $128,000 MLSNOW
• 2021-04-09 Pending — MLSNOW
• 2021-04-05 Listed $119,900 MLSNOW
• 2004-05-28 Sold (Public Records) $104,000 Public Records
• 2004-05-26 Sold (MLS) $104,000 MLSNOW
• 2004-03-31 Listed $108,000 MLSNOW

Property tax history

+3.2%/yr

Latest (2025): $2,154 · +8.3% YoY. Source: county tax records.