2456 E 37th St · Lorain, OH 44055

$110,000

2 bd · 1.0 ba · 1,113 sqft · SingleFamily public records · 8 Days on market

Built 1948 3,920 sqft lot Est $132k · 17% 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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in to this well maintained home in a cul-de-sac. When you pull up you'll notice a large newer concrete driveway that leads to the 24x24 double garage. Outside home features vinyl siding, a front porch, a rear 10x24 covered patio, 6 year old roof and a partially fenced in yard. Inside home features new (2021) laminate flooring in the living room, bedroom and bathroom. Second bedroom has new (2021) carpeting. Home has central air conditioning. Call today to set up your private tour.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1948

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener; Paved driveway
• Utilities: Public water; Public sewer
• Home design: 2-story home; Vinyl siding; Asphalt/fiberglass roof
• Construction: Vinyl siding construction; Asphalt/fiberglass roof
• Exterior features: Front porch; Cul-de-sac lot; Irregular-shaped lot

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Unfinished basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.1% vs local median 5.9% in Lorain — 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 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities D, health & safety D.
• Lorain City (suburban): math 13% / reading 26% proficiency, ranked #633 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 34% of the median local income ($41k/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 $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 31y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1948 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.03% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $132,447
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2456 E 37th St	0.00mi	3/1.0 (+1)	1,113 (0%)	1mo	$130,000	$117	94
4216 Camden Ave	0.40mi	3/1.0 (+1)	1,136 (+2%)	7mo	$135,000	$119	67
4411 Tacoma Ave	0.52mi	2/1.0	1,156 (+4%)	3mo	$141,000	$122	67
4217 Camden Ave	0.42mi	3/1.0 (+1)	1,068 (-4%)	2mo	$100,000	$94	66
3896 Meadow Ln	0.18mi	3/1.0 (+1)	992 (-11%)	4mo	$150,000	$151	65
2119 E 41st St	0.53mi	3/2.0 (+1)	1,112 (-0%)	3mo	$160,000	$144	63
4429 Norfolk Ave	0.62mi	3/1.0 (+1)	1,104 (-1%)	3mo	$171,000	$155	63
2503 E 29th St	0.58mi	3/1.0 (+1)	1,052 (-6%)	1mo	$50,500	$48	58
2217 E 32nd St	0.44mi	3/1.0 (+1)	1,246 (+12%)	1mo	$139,000	$112	53
4223 Palm Ave	0.36mi	3/1.0 (+1)	960 (-14%)	3mo	$108,000	$113	53
2311 E 29th St	0.60mi	3/1.0 (+1)	1,216 (+9%)	4mo	$95,000	$78	48
4215 Meadow Ln	0.35mi	3/2.0 (+1)	960 (-14%)	8mo	$166,000	$173	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.75×
• Total profit: $-7,548
• Equity at exit: $16,401

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $6,667
• Equity at exit: $9,511

Cash invested: $30,800 (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 44055

• Home prices YoY: -30.5%
• Active inventory: 81
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,136 high
• Mortgage (P&I): −$577
• Tax from tax record: −$113 /mo · $1,358/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $161

Break-even live

Break-even rent $931

Max offer price $110,000

Occupancy floor 81%

Sensitivity live

Price	-10% $224	-5% $192	+0% $161	+5% $130	+10% $99
Rent	-10% $72	-5% $116	+0% $161	+5% $206	+10% $251
Rate	-1.0pp $217	-0.5pp $189	base $161	+0.5pp $133	+1.0pp $104

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2484 E 38th St Lorain, OH	3.0	1.5	1101	$1,295	$1.18	44d	1	0.10mi
3979 Gary Ave Unit 3979 2 Lorain, OH	2.0	1.0	896	$1,025	$1.14	44d	1	0.23mi
3251 Camden Ave Lorain, OH	3.0	1.0	1090	$995	$0.91	44d	1	0.37mi
3235 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	22d	1	0.40mi
3237 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	22d	1	0.40mi
1911 E 34th St Lorain, OH	2.0	1.0	900	$1,100	$1.22	2d	1	0.91mi
1850 E 33rd St Lorain, OH	2.0	1.0	1344	$995	$0.74	2d	1	1.06mi
2916 Seneca Ave Unit 1 Lorain, OH	2.0	1.0	700	$985	$1.41	44d	1	1.07mi
2916 Seneca Ave Unit 3 Lorain, OH	2.0	1.0	700	$900	$1.29	44d	1	1.07mi
2916 Seneca Ave Unit 2 Lorain, OH	2.0	1.0	700	$900	$1.29	44d	1	1.07mi
1777 E 37th St Unit 1777 Lorain, OH	2.0	1.0	800	$1,150	$1.44	2d	1	1.23mi
1818 E 29th St Unit 1816 Lorain, OH	3.0	1.0	1098	$1,195	$1.09	44d	1	1.23mi
2056 McKinley Ave Lorain, OH	2.0	1.0	768	$1,195	$1.56	2d	1	1.27mi
1730 E 30th St Unit 1730 Lorain, OH	3.0	1.0	1120	$1,250	$1.12	44d	1	1.41mi

Listing history 15 events

1. 2026-04-30
   status Pending
2. 2026-04-28
   historical Contingent
3. 2026-04-22
   listed $110,000 Active
4. 2021-10-14
   status Pending 496-char remark

   Show marketing remark (496 chars)

   Move right in to this well maintained home in a cul-de-sac. When you pull up you'll notice a large newer concrete driveway that leads to the 24x24 double garage. Outside home features vinyl siding, a front porch, a rear 10x24 covered patio, 6 year old roof and a partially fenced in yard. Inside home features new (2021) laminate flooring in the living room, bedroom and bathroom. Second bedroom has new (2021) carpeting. Home has central air conditioning. Call today to set up your private tour.

5. 2021-10-13
   soldstatus $119,000 Closed 496-char remark

   Show marketing remark (496 chars)

   Move right in to this well maintained home in a cul-de-sac. When you pull up you'll notice a large newer concrete driveway that leads to the 24x24 double garage. Outside home features vinyl siding, a front porch, a rear 10x24 covered patio, 6 year old roof and a partially fenced in yard. Inside home features new (2021) laminate flooring in the living room, bedroom and bathroom. Second bedroom has new (2021) carpeting. Home has central air conditioning. Call today to set up your private tour.

6. 2021-10-13
   soldstatus $119,000

   Show marketing remark (496 chars)

   Move right in to this well maintained home in a cul-de-sac. When you pull up you'll notice a large newer concrete driveway that leads to the 24x24 double garage. Outside home features vinyl siding, a front porch, a rear 10x24 covered patio, 6 year old roof and a partially fenced in yard. Inside home features new (2021) laminate flooring in the living room, bedroom and bathroom. Second bedroom has new (2021) carpeting. Home has central air conditioning. Call today to set up your private tour.

7. 2021-08-30
   historical Contingent 496-char remark

   Show marketing remark (496 chars)

   Move right in to this well maintained home in a cul-de-sac. When you pull up you'll notice a large newer concrete driveway that leads to the 24x24 double garage. Outside home features vinyl siding, a front porch, a rear 10x24 covered patio, 6 year old roof and a partially fenced in yard. Inside home features new (2021) laminate flooring in the living room, bedroom and bathroom. Second bedroom has new (2021) carpeting. Home has central air conditioning. Call today to set up your private tour.

8. 2021-08-05
   listed $118,000 Active 496-char remark

   Show marketing remark (496 chars)

   Move right in to this well maintained home in a cul-de-sac. When you pull up you'll notice a large newer concrete driveway that leads to the 24x24 double garage. Outside home features vinyl siding, a front porch, a rear 10x24 covered patio, 6 year old roof and a partially fenced in yard. Inside home features new (2021) laminate flooring in the living room, bedroom and bathroom. Second bedroom has new (2021) carpeting. Home has central air conditioning. Call today to set up your private tour.

9. 2008-06-12
   soldstatus $40,000 217-char remark

   Show marketing remark (217 chars)

   Three Bedroom Bungalow With Full Basement. Ceramic Tile Floor In Kitchen. Two Car Detached Garage. Being Sold As Is. Bank Owned. No Disclosures. All Offers Must Be Submitted With Pre-approval Letter Or Proof Of Funds.

10. 2007-12-12
    listed $37,900 217-char remark

    Show marketing remark (217 chars)

    Three Bedroom Bungalow With Full Basement. Ceramic Tile Floor In Kitchen. Two Car Detached Garage. Being Sold As Is. Bank Owned. No Disclosures. All Offers Must Be Submitted With Pre-approval Letter Or Proof Of Funds.

11. 2007-12-11
    historical
12. 2007-06-11
    listed $79,900
13. 1995-12-05
    soldstatus $70,000
14. 1995-10-23
    soldstatus $70,000
15. 1995-09-01
    listed $75,000

ⓘ 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: $1,358 · $113/mo
• Projected year-2 tax: $1,537 · $128/mo
• Expected delta: +$179/yr (+$15/mo · 13.2%)

ⓘ 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: $13,628
• − Mortgage interest: −$6,162
• − Property taxes: −$1,358
• − Insurance: −$550
• − Repairs & maintenance: −$1,090
• − Management: −$1,090
• − Depreciation: −$3,200
• Taxable income: $178
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $1,893/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: Lorain City
• NCES district ID: 3904426
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $32,823
• Composite: 15.81/100
• National rank: #9266
• State rank: #633 of 656 in OH

Livability — Lorain

• Score: 67/100
• State rank: #595
• US rank: #10183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lorain, OH
• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 20,043
• Household income: $40,636
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1140.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 24% Black 14%
• Hispanic origin (detail): Mexican 7% Puerto Rican 27%
• Common ancestry: Romanian 5% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala
• Languages at home: 75% English-only · Spanish 23%

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: ▼ -79.26%
• Current HPI: 180.9309
• Rent YoY: —
• 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

+46.7% since first listed

15 events — show timeline

• 2026-04-30 Pending — MLSNOW
• 2026-04-28 Contingent — MLSNOW
• 2026-04-22 Listed $110,000 MLSNOW
• 2021-10-14 Pending — MLSNOW
• 2021-10-13 Sold (Public Records) $119,000 Public Records
• 2021-10-13 Sold (MLS) $119,000 MLSNOW
• 2021-08-30 Contingent — MLSNOW
• 2021-08-05 Listed $118,000 MLSNOW
• 2008-06-12 Sold (MLS) $40,000 MLSNOW
• 2007-12-12 Listed $37,900 MLSNOW
• 2007-12-11 Listing Removed — MLSNOW
• 2007-06-11 Listed $79,900 MLSNOW
• 1995-12-05 Sold (Public Records) $70,000 Public Records
• 1995-10-23 Sold (MLS) $70,000 MLSNOW
• 1995-09-01 Listed $75,000 MLSNOW

Property tax history

+0.5%/yr

Latest (2025): $1,358 · -7.2% YoY. Source: county tax records.