1850 E 32nd St · Lorain, OH 44055

$199,900

6 bd · 2.0 ba · 2,600 sqft · MultiFamily public records · 14 Days on market

Built 1900 6,969 sqft lot $77/sqft · 30% above area Est $154k · 30% over

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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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

6 bedrooms this side by side multi family home offer 2 units each with 3 bedrooms, 1 bath, living room, dinning area, eat-in kitchen and full separated basement under each unit. Off Street parking shared garage and large backyard.

Key facts

• Vinyl windows
• Updated baths
• Side by side duplex

Tags

• SIDE BY SIDE DUPLEX
• TWO OVERSIZED UNITS
• UPDATED KITCHENS
• UPDATED BATHS
• VINYL WINDOWS
• CENTRAL AIR

Property features AI

Finance

• Other: Above-grade finished area reported as 2,600 (source: public records); Building contains 1 structure
• Financial info: Two similar residential units currently listed with projected/actual rents of $1,550 each

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer
• Home design: 3-story multi-unit building; Aluminum siding exterior
• Construction: Built (year per public records); Asphalt and fiberglass roof
• Exterior features: North-facing; Lot is approximately 0.16 acres

Interior

• Bedrooms: Two 5-bedroom units (each listed as four bedroom or more)
• Bathrooms: Two full bathrooms (building total); Each unit has 1 bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Double-pane windows; Full unfinished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive. Per door: $319/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 10.1% 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; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• At $2,431/mo this rent would consume 72% of the median local household income ($41k/yr) (locally 1140% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 7y 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 $120k; list at $200k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.67%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (median comp): $154,290
• List price: $199,900
• Delta: 29.56%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1929 E 31st St	0.23mi	6/2.0	2,784 (+7%)	5mo	$85,000	$31	73
1794 E 33rd St	0.16mi	6/2.0	2,320 (-11%)	4mo	$165,000	$71	72
1949 E 30th St	0.31mi	6/2.0	2,712 (+4%)	9mo	$105,000	$39	71
1766 E 31st St	0.22mi	6/3.0	2,924 (+12%)	7mo	$132,000	$45	59
2132 E 30th St	0.65mi	6/3.0	2,782 (+7%)	22mo	$160,000	$58	35

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $8,182
• Equity at exit: $29,806

10-year hold

• IRR: 13.3%
• Equity multiple: 2.06×
• Total profit: $59,305
• Equity at exit: $17,284

Cash invested: $55,972 (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: 13.7×

Monthly cashflow live

• Estimated rent: $2,431 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$151 /mo · $1,818/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $637

Break-even live

Break-even rent $1,624

Max offer price $199,900

Occupancy floor 69%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,430
Total (2 units)			$2,431

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1763 E 36th St Lorain, OH	5.0	1.5	2000	$1,895	$0.95	1d	1	0.28mi

Listing history 18 events

1. 2026-05-14
   status Pending 930-char remark
2. 2026-05-10
   status Active 930-char remark
3. 2026-05-08
   status Pending 930-char remark
4. 2026-04-28
   listed $199,900 Active 930-char remark
5. 2026-04-23
   price $1,495
6. 2026-01-25
   price $1,695
7. 2025-12-12
   price $1,795
8. 2025-11-28
   listed $1,850
9. 2025-11-27
   historical $1,850
10. 2025-11-27
    listed $1,850
11. 2024-11-27
    soldstatus $120,000 Closed 230-char remark

    Show marketing remark (230 chars)

    6 bedrooms this side by side multi family home offer 2 units each with 3 bedrooms, 1 bath, living room, dinning area, eat-in kitchen and full separated basement under each unit. Off Street parking shared garage and large backyard.

12. 2024-11-20
    status Pending 230-char remark

    Show marketing remark (230 chars)

    6 bedrooms this side by side multi family home offer 2 units each with 3 bedrooms, 1 bath, living room, dinning area, eat-in kitchen and full separated basement under each unit. Off Street parking shared garage and large backyard.

13. 2024-09-21
    listed $129,900 Active 230-char remark

    Show marketing remark (230 chars)

    6 bedrooms this side by side multi family home offer 2 units each with 3 bedrooms, 1 bath, living room, dinning area, eat-in kitchen and full separated basement under each unit. Off Street parking shared garage and large backyard.

14. 2019-10-30
    soldstatus $82,000 Closed

    Show marketing remark (570 chars)

    Deal Awaits Discovery! This duplex offers spacious three bedrooms (each unit), professional interior designer finishes and freshly painted cascade of color to highlight the unique character and architectural detail of this home, updated windows, bathrooms, light fixtures, hot water tank, landscaping, laminate flooring, efficient floor plan, bonus rooms on third floor, rustic fire-pit area in expansive backyard, porch to enjoy the mature neighborhood and so much more! City of Lorain POS is complete and certification available. Call to invest in your future TODAY!

15. 2019-10-29
    soldstatus $82,000
16. 2019-09-03
    historical Contingent

    Show marketing remark (570 chars)

    Deal Awaits Discovery! This duplex offers spacious three bedrooms (each unit), professional interior designer finishes and freshly painted cascade of color to highlight the unique character and architectural detail of this home, updated windows, bathrooms, light fixtures, hot water tank, landscaping, laminate flooring, efficient floor plan, bonus rooms on third floor, rustic fire-pit area in expansive backyard, porch to enjoy the mature neighborhood and so much more! City of Lorain POS is complete and certification available. Call to invest in your future TODAY!

17. 2019-08-18
    listed $97,500 Active

    Show marketing remark (570 chars)

    Deal Awaits Discovery! This duplex offers spacious three bedrooms (each unit), professional interior designer finishes and freshly painted cascade of color to highlight the unique character and architectural detail of this home, updated windows, bathrooms, light fixtures, hot water tank, landscaping, laminate flooring, efficient floor plan, bonus rooms on third floor, rustic fire-pit area in expansive backyard, porch to enjoy the mature neighborhood and so much more! City of Lorain POS is complete and certification available. Call to invest in your future TODAY!

18. 2003-05-08
    soldstatus $80,000

ⓘ 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: $1,818 · $151/mo
• Projected year-2 tax: $2,468 · $206/mo
• Expected delta: +$650/yr (+$54/mo · 35.8%)

ⓘ 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: $29,172
• − Mortgage interest: −$11,198
• − Property taxes: −$1,818
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,334
• − Management: −$2,334
• − Depreciation: −$5,815
• Taxable income: $4,675
• Est. tax owed @ 24.0%: −$1,122
• After-tax cash flow: $6,527/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

-98.1% since first listed

19 events — show timeline

• 2026-05-22 Rental Removed $1,495 BUILDIUM
• 2026-05-14 Pending — MLSNOW
• 2026-05-10 Relisted — MLSNOW
• 2026-05-08 Pending — MLSNOW
• 2026-04-28 Listed $199,900 MLSNOW
• 2026-04-23 Price Changed $1,495 BUILDIUM
• 2026-01-25 Price Changed $1,695 BUILDIUM
• 2025-12-12 Price Changed $1,795 BUILDIUM
• 2025-11-28 Listed for Rent $1,850 BUILDIUM
• 2025-11-27 Rental Removed $1,850 TENANTTURNER2
• 2025-11-27 Listed for Rent $1,850 TENANTTURNER2
• 2024-11-27 Sold (MLS) $120,000 MLSNOW
• 2024-11-20 Pending — MLSNOW
• 2024-09-21 Listed $129,900 MLSNOW
• 2019-10-30 Sold (MLS) $82,000 MLSNOW
• 2019-10-29 Sold (Public Records) $82,000 Public Records
• 2019-09-03 Contingent — MLSNOW
• 2019-08-18 Listed $97,500 MLSNOW
• 2003-05-08 Sold (Public Records) $80,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,818 · -4.9% YoY. Source: county tax records.