35812 Wanaka Blvd · Eastlake, OH 44095

$95,000

2 bd · 1.0 ba · 1,118 sqft · SingleFamily public records · 5 Days on market

Built 1929 7,405 sqft lot $6/mo HOA

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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

Location, location, location! This isn't just a home, it's a whole community!! This quaint bungalow is just begging to be brought back to life! The open living room with cozy wood burner and hardwood floors is so charming and leads to the enclosed side porch where you can enjoy fresh air and lake breezes 3 seasons of the year! The 2 bedrooms on the main floor are spacious with wonderful closet space, and the partially finished upstairs is added square footage for additional bedrooms or to create a whole suite and add instant value! As a member of the Chagrin Harbor Beach Association, you’ll enjoy incredible amenities for a low annual fee: private beach access, a kayak launch, playg

Key facts

• Kayak launch
• Private beach access
• Dock slips

Tags

• PRIVATE BEACH ACCESS
• KAYAK LAUNCH
• DOCK SLIPS
• VIBRANT LAKEFRONT COMMUNITY

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $75; Community amenities include clubhouse, lake, and playground

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: 2-story home; Built per public records; Asphalt shingle roof; Wood siding
• Construction: Wood siding construction
• Exterior features: Enclosed patio/porch; Patio; Porch; Close to clubhouse; Lake privileges

Interior

• Kitchen: Refrigerator included
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating; Hot water/steam heating
• Interior features: Total of 8 rooms; Crawl space basement; Living room fireplace
• Laundry & utility: Main-level laundry (see remarks)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $54 ($644/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 12.4% 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; 1 comparable units currently listed for rent nearby; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 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.

Negotiation context

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

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; flood insurance adds $427/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1929 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.70% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.66%
• DSCR: 1.96
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $212,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36443 Sunset Dr	0.44mi	3/1.5 (+1)	1,114 (-0%)	10mo	$215,000	$193	64
200 Parkway Dr	0.47mi	3/1.0 (+1)	1,096 (-2%)	12mo	$164,000	$150	59
252 Parkway Dr	0.55mi	3/1.0 (+1)	1,024 (-8%)	13mo	$175,000	$171	45
36501 Spindrift Dr	0.63mi	3/1.5 (+1)	1,054 (-6%)	13mo	$200,000	$190	43
159 Parkway Dr	0.42mi	3/1.5 (+1)	1,250 (+12%)	14mo	$199,900	$160	42
188 Parkway Dr	0.46mi	3/1.5 (+1)	1,250 (+12%)	19mo	$175,000	$140	36
246 Bayshore Dr	0.59mi	3/2.0 (+1)	1,012 (-10%)	15mo	$291,000	$288	35
36606 Spindrift Dr	0.75mi	3/1.5 (+1)	1,054 (-6%)	16mo	$185,000	$176	35
211 W Overlook Dr	0.69mi	3/2.0 (+1)	962 (-14%)	2mo	$218,000	$227	34
145 Pinehurst Blvd	0.60mi	3/1.5 (+1)	1,260 (+13%)	13mo	$170,000	$135	33
36229 Hillcrest Dr	0.72mi	3/1.5 (+1)	1,232 (+10%)	18mo	$250,000	$203	27
36085 Hillcrest Dr	0.64mi	3/2.0 (+1)	960 (-14%)	19mo	$212,500	$221	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 · 4.81% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.68×
• Total profit: $-8,620
• Equity at exit: $14,165

10-year hold

• IRR: 4.9%
• Equity multiple: 1.42×
• Total profit: $11,117
• Equity at exit: $8,214

Cash invested: $26,600 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,611 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$249 /mo · $2,988/yr
• Insurance: −$40
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$6
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $54

Break-even live

Break-even rent $1,543

Max offer price $95,000

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Plymouth Rd Eastlake, OH	3.0	2.5	1400	$1,881	$1.34	43d	1	1.04mi

HOA detail

• Monthly dues: $6 · $72/yr

Listing history 1 events

1. 2026-05-21
   listed $95,000 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: $2,988 · $249/mo
• Projected year-2 tax: $2,988 · $249/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 7/10 Severe FEMA zone AE · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,336
• − Mortgage interest: −$5,321
• − Property taxes: −$2,988
• − Insurance: −$5,594
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − HOA: −$72
• − Depreciation: −$2,764
• Taxable loss: −$496
• Est. tax savings @ 24.0%: +$119
• After-tax cash flow: $763/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

1 event — show timeline

• 2026-05-21 Listed $95,000 MLSNOW

Property tax history

+7.2%/yr

Latest (2025): $2,988 · +33.5% YoY. Source: county tax records.