5755 Lake Rd W #6 · Saybrook-on-the-Lake, OH 44004

$79,900

2 bd · 1.0 ba · 560 sqft · SingleFamily · 41 Days on market

Built 1989 Fair condition 435 sqft lot $143/sqft · 48% below area Est $153k · 48% under $42/mo HOA · 4% of rent ↓ 19% since listing

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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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

A-D-O-R-A-B-L-E Looking for that cute summer cottage with Lake Erie access? Check this out!! Unique Camp on the shores of Lake Erie. Fully furnished 1-2 bedroom cottage. Patio and storage shed out back. Stairs lead down to private beach owned by members of Ravine Camp Corporation. Camp is open/water turned on from mid-April through end of October yearly. This is not a typical sale - no deed or title. Buyer will be purchasing membership into Ravine Camp Corporation and cottage. You are responsible for maintenance of the lot. Cash Sales Only. The land is owned as a whole by the corporation. Updates to the cottage- New Metal Roof 11/2025, updated bath, exterior doors and some windows (4 ye

Key facts

• New metal roof
• Updated bath
• Private beach

Tags

• LAKE ERIE ACCESS
• PRIVATE BEACH
• NEW METAL ROOF
• UPDATED BATH
• EXTERIOR DOORS
• UPDATED EXTERIOR LIGHTING

Property features AI

Finance

• HOA & community: Homeowners association (Ravine Camp Corp); Annual association fee of $500 covering common area maintenance, insurance, sewer, trash and water; Community features include lake access

Exterior

• Parking: Driveway with gravel surface
• Utilities: Public water; Public sewer
• Home design: Single-story property
• Construction: Metal roof; Vinyl siding; Built according to public records (year built source: public records)
• Exterior features: Patio; Shed(s); Lake privileges

Interior

• Kitchen: Open kitchen integrated with living/dining area
• Bedrooms: Two main-level bedrooms; Bonus room on main level can serve as a second bedroom (no closet)
• Flooring: Laminate flooring in living areas, bedrooms and kitchen; Linoleum in bathroom
• Bathrooms: One full bathroom (main level) with updated shower
• Heating & cooling: Forced-air heating (propane); Central air plus window unit(s)
• Interior features: Open-concept living, dining and kitchen; Updated bathroom with shower; Door from bonus room to rear patio
• Laundry & utility: Main-level washer hookup; Main-level electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.8% in Saybrook-on-the-Lake — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Ashtabula Area City (town): math 24% / reading 35% proficiency, ranked #588 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 162 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ashtabula County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.29% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.74%
• DSCR: 1.52
• GRM: 6.5

CMA / ARV

• ARV (median comp): $153,013
• List price: $79,900
• Delta: -47.78%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2302 Morningside Ave	0.39mi	1/1.0 (-1)	576 (+3%)	1mo	$119,900	$208	71
2917 Linna Dr	0.70mi	2/1.0	576 (+3%)	8mo	$155,000	$269	56

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,036
• Equity at exit: $11,913

10-year hold

• IRR: 10.9%
• Equity multiple: 1.85×
• Total profit: $19,022
• Equity at exit: $6,908

Cash invested: $22,372 (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 44004

• Home prices YoY: -30.5%
• Active inventory: 162
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,029 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$42
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $219

Break-even live

Break-even rent $752

Max offer price $79,900

Occupancy floor 74%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $42 · $504/yr
• Likely covers: water

Listing history 25 events

1. 2026-06-18
   days on market $79,900 Active 41 DOM
2. 2026-06-17
   days on market $79,900 Active 40 DOM
3. 2026-06-16
   days on market $79,900 Active 39 DOM
4. 2026-06-15
   days on market $79,900 Active 38 DOM
5. 2026-06-13
   days on market $79,900 Active 36 DOM
6. 2026-06-12
   days on market $79,900 Active 35 DOM
7. 2026-06-09
   days on market $79,900 Active 32 DOM
8. 2026-06-08
   days on market $79,900 Active 31 DOM
9. 2026-06-07
   days on market $79,900 Active 30 DOM
10. 2026-06-07
    days on market $79,900 Active 29 DOM
11. 2026-06-04
    days on market $79,900 Active 26 DOM
12. 2026-06-02
    days on market $79,900 Active 25 DOM
13. 2026-06-01
    days on market $79,900 Active 24 DOM
14. 2026-05-31
    days on market $79,900 Active 23 DOM
15. 2026-05-07
    listed $79,900 Active 1670-char remark
16. 2025-11-08
    historical
17. 2025-10-01
    status Active
18. 2025-09-28
    status Pending
19. 2025-09-02
    listed $85,000 Active
20. 2025-09-02
    historical
21. 2025-08-25
    price $87,000
22. 2025-08-01
    price $89,900
23. 2025-06-26
    status Active
24. 2025-06-26
    price $95,000
25. 2025-05-09
    listed $99,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,350
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$988
• − Management: −$988
• − HOA: −$504
• − Depreciation: −$2,324
• Taxable income: $1,472
• Est. tax owed @ 24.0%: −$353
• After-tax cash flow: $2,273/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathroom, paint interior walls, and improve landscaping. It has a good roof and foundation, making it a good investment opportunity.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom cabinets — dated and worn
• Minor exterior siding — some discoloration

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would appeal to buyers and renters
• Both update bathroom cabinets and fixtures — modernizing the bathroom would appeal to buyers and renters
• Both paint interior walls — fresh paint would improve the home's appearance and appeal
• Both landscaping and curb appeal — improved landscaping would enhance the home's curb appeal and attract more buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom cabinets · dated and worn	Moderate	$3,000–15,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would appeal to buyers and renters ↑
• Both update bathroom cabinets and fixtures — modernizing the bathroom would appeal to buyers and renters ↑
• Both paint interior walls — fresh paint would improve the home's appearance and appeal ↑
• Both landscaping and curb appeal — improved landscaping would enhance the home's curb appeal and attract more buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ashtabula Area City
• NCES district ID: 3904351
• Math proficiency: 24% ▼ -27.00%
• Reading proficiency: 35% ▼ -13.00%
• Median HH income: $34,812
• Composite: 24.3/100
• National rank: #7712
• State rank: #588 of 656 in OH

Livability — Saybrook-on-the-Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Saybrook-on-the-Lake, OH
• County: Ashtabula · 97,617 people
• Metro: Cleveland, OH
• Population (ZIP): 31,076
• Household income: $49,507
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 14.1

Population outlook (Ashtabula County) Hauer SSP2

• Today (2025): 92,950 people
• By 2030: 89,146 · -4.1%
• By 2040: 80,715 · -13.2%
• By 2050: 72,270 · -22.2%
• By 2075: 55,780 · -40.0%
• By 2100: 40,928 · -56.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Romanian 4% Iranian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Ashtabula

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.8%
• 2008→2024 swing: -41.9pp toward R · 2008: 13.5pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+23.5 2016: R+19.0 2012: D+12.1 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.51%
• Current HPI: 260.7146
• Rent YoY: —
• Metro: —
• 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

-19.3% since first listed

11 events — show timeline

• 2026-05-07 Listed $79,900 MLSNOW
• 2025-11-08 Listing Removed — MLSNOW
• 2025-10-01 Relisted — MLSNOW
• 2025-09-28 Pending — MLSNOW
• 2025-09-02 Listing Removed — MLSNOW
• 2025-09-02 Listed $85,000 MLSNOW
• 2025-08-25 Price Changed $87,000 MLSNOW
• 2025-08-01 Price Changed $89,900 MLSNOW
• 2025-06-26 Relisted — MLSNOW
• 2025-06-26 Price Changed $95,000 MLSNOW
• 2025-05-09 Listed $99,000 MLSNOW