468 Stallion Ct · Pheasant Run, OH 44050

$41,000

3 bd · 1.0 ba · 924 sqft · SingleFamily public records · 205 Days on market

Built 1973 0.41 ac lot $44/sqft · 74% below area $80/mo HOA · 5% of rent

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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 +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

No wholesalers. No Seller financing. No low ball offers. This 3-bedroom, 1-bath home offers an excellent opportunity for investors looking for a full-rehab project with strong upside potential. The property is in need of a complete renovation, making it ideal for experienced investors, contractors, or anyone seeking a value-add project in an established HOA community known for its small-town charm and strong neighborhood appeal. The home offers excellent potential for both investors and rehabbers—once updated, it can be transformed into a desirable single-family rental or a profitable resale. Plus an additional land parcel of 0.2066. The location provides easy access to parks, schools, shopping, and major routes connecting to nearby cities. The area has a proven track record of solid after-repair values and steady rental demand, offering an opportunity for significant equity growth. Full-service property management available with dedicated departments for leasing, marketing, tenant communication, plus rehab and construction services for remote investors! Schedule a showing to see it for yourself!

Key facts

• Full rehab project
• Complete renovation
• Easy access to parks

Tags

• FULL REHAB PROJECT
• COMPLETE RENOVATION
• ESTABLISHED HOA COMMUNITY
• EASY ACCESS TO PARKS
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO SHOPPING

🏷️ Possibly a rental listed for sale. The $41,000 price doesn't fit this home's estimated sale value (~$155,097) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $41k.

Deal economics

• At list price, monthly cash flow is $867 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $41k).
• Recommended offer: $36k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#475 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, employment A; Watch: schools D, health & safety D, amenities F.
• Keystone Local (rural): math 55% / reading 67% proficiency, ranked #249 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $283 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $29k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price.

Recommended offer $36,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 4.02% ✓
• Cap rate: 31.66%
• Cash-on-cash: 90.59%
• DSCR: 5.03
• GRM: 2.1

CMA / ARV

• ARV (median comp): $155,097
• List price: $41,000
• Delta: -73.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
441 Morgan Ct	0.05mi	2/1.0 (-1)	976 (+6%)	6mo	$160,000	$164	78
417 Palomino Ct	0.16mi	2/1.0 (-1)	936 (+1%)	9mo	$154,900	$165	78
479 Stallion Ct	0.10mi	3/1.0	1,056 (+14%)	2mo	$135,000	$128	70
369 Quarter Horse Ln	0.14mi	3/1.5	984 (+6%)	18mo	$182,000	$185	65
436 Morgan Ct	0.06mi	3/1.0	1,012 (+10%)	24mo	$145,000	$143	61
372 Palomino Ct	0.17mi	2/1.0 (-1)	988 (+7%)	21mo	$150,000	$152	58
480 Stallion Ct	0.12mi	3/1.0	1,056 (+14%)	17mo	$122,000	$116	56
435 Morgan Ct	0.07mi	3/2.0	1,056 (+14%)	17mo	$99,000	$94	55
18 Lakeview Ct	0.72mi	3/2.0	960 (+4%)	12mo	$210,000	$219	46
17 Lakeview Ct	0.70mi	2/1.5 (-1)	910 (-2%)	22mo	$140,250	$154	39
78 Bass Ct	0.67mi	3/2.0	1,056 (+14%)	8mo	$67,500	$64	34
79 Bass Ct	0.67mi	3/2.0	1,056 (+14%)	20mo	$130,000	$123	24

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: 91.4%
• Equity multiple: 5.24×
• Total profit: $48,672
• Equity at exit: $6,113

10-year hold

• IRR: 94.3%
• Equity multiple: 10.92×
• Total profit: $113,936
• Equity at exit: $3,545

Cash invested: $11,480 (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 44050

• Home prices YoY: -22.7%
• Active inventory: 29
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,647 medium
• Mortgage (P&I): −$215
• Tax from tax record: −$122 /mo · $1,467/yr
• Insurance: −$17
• HOA: −$80
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $867

Break-even live

Break-even rent $550

Max offer price $41,000

Occupancy floor 42%

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: $10,250
• Closing costs: $1,230
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $80 · $960/yr

Listing history 11 events

1. 2026-06-03
   days on market $41,000 Active 205 DOM
2. 2026-06-02
   days on market $41,000 Active 204 DOM
3. 2026-06-01
   days on market $41,000 Active 203 DOM
4. 2026-05-31
   days on market $41,000 Active 202 DOM
5. 2026-05-15
   price $41,000 1125-char remark

   Show marketing remark (1125 chars)

   No wholesalers. No Seller financing. No low ball offers. This 3-bedroom, 1-bath home offers an excellent opportunity for investors looking for a full-rehab project with strong upside potential. The property is in need of a complete renovation, making it ideal for experienced investors, contractors, or anyone seeking a value-add project in an established HOA community known for its small-town charm and strong neighborhood appeal. The home offers excellent potential for both investors and rehabbers—once updated, it can be transformed into a desirable single-family rental or a profitable resale. Plus an additional land parcel of 0.2066. The location provides easy access to parks, schools, shopping, and major routes connecting to nearby cities. The area has a proven track record of solid after-repair values and steady rental demand, offering an opportunity for significant equity growth. Full-service property management available with dedicated departments for leasing, marketing, tenant communication, plus rehab and construction services for remote investors! Schedule a showing to see it for yourself!

6. 2026-04-15
   price $46,455 1125-char remark

   Show marketing remark (1125 chars)

   No wholesalers. No Seller financing. No low ball offers. This 3-bedroom, 1-bath home offers an excellent opportunity for investors looking for a full-rehab project with strong upside potential. The property is in need of a complete renovation, making it ideal for experienced investors, contractors, or anyone seeking a value-add project in an established HOA community known for its small-town charm and strong neighborhood appeal. The home offers excellent potential for both investors and rehabbers—once updated, it can be transformed into a desirable single-family rental or a profitable resale. Plus an additional land parcel of 0.2066. The location provides easy access to parks, schools, shopping, and major routes connecting to nearby cities. The area has a proven track record of solid after-repair values and steady rental demand, offering an opportunity for significant equity growth. Full-service property management available with dedicated departments for leasing, marketing, tenant communication, plus rehab and construction services for remote investors! Schedule a showing to see it for yourself!

7. 2026-03-17
   price $48,900 1125-char remark

   Show marketing remark (1125 chars)

   No wholesalers. No Seller financing. No low ball offers. This 3-bedroom, 1-bath home offers an excellent opportunity for investors looking for a full-rehab project with strong upside potential. The property is in need of a complete renovation, making it ideal for experienced investors, contractors, or anyone seeking a value-add project in an established HOA community known for its small-town charm and strong neighborhood appeal. The home offers excellent potential for both investors and rehabbers—once updated, it can be transformed into a desirable single-family rental or a profitable resale. Plus an additional land parcel of 0.2066. The location provides easy access to parks, schools, shopping, and major routes connecting to nearby cities. The area has a proven track record of solid after-repair values and steady rental demand, offering an opportunity for significant equity growth. Full-service property management available with dedicated departments for leasing, marketing, tenant communication, plus rehab and construction services for remote investors! Schedule a showing to see it for yourself!

8. 2026-01-30
   price $58,900 1125-char remark

   Show marketing remark (1125 chars)

   No wholesalers. No Seller financing. No low ball offers. This 3-bedroom, 1-bath home offers an excellent opportunity for investors looking for a full-rehab project with strong upside potential. The property is in need of a complete renovation, making it ideal for experienced investors, contractors, or anyone seeking a value-add project in an established HOA community known for its small-town charm and strong neighborhood appeal. The home offers excellent potential for both investors and rehabbers—once updated, it can be transformed into a desirable single-family rental or a profitable resale. Plus an additional land parcel of 0.2066. The location provides easy access to parks, schools, shopping, and major routes connecting to nearby cities. The area has a proven track record of solid after-repair values and steady rental demand, offering an opportunity for significant equity growth. Full-service property management available with dedicated departments for leasing, marketing, tenant communication, plus rehab and construction services for remote investors! Schedule a showing to see it for yourself!

9. 2025-12-01
   price $59,900 1125-char remark

   Show marketing remark (1125 chars)

   No wholesalers. No Seller financing. No low ball offers. This 3-bedroom, 1-bath home offers an excellent opportunity for investors looking for a full-rehab project with strong upside potential. The property is in need of a complete renovation, making it ideal for experienced investors, contractors, or anyone seeking a value-add project in an established HOA community known for its small-town charm and strong neighborhood appeal. The home offers excellent potential for both investors and rehabbers—once updated, it can be transformed into a desirable single-family rental or a profitable resale. Plus an additional land parcel of 0.2066. The location provides easy access to parks, schools, shopping, and major routes connecting to nearby cities. The area has a proven track record of solid after-repair values and steady rental demand, offering an opportunity for significant equity growth. Full-service property management available with dedicated departments for leasing, marketing, tenant communication, plus rehab and construction services for remote investors! Schedule a showing to see it for yourself!

10. 2025-11-10
    listed $64,900 Active 1125-char remark

    Show marketing remark (1125 chars)

    No wholesalers. No Seller financing. No low ball offers. This 3-bedroom, 1-bath home offers an excellent opportunity for investors looking for a full-rehab project with strong upside potential. The property is in need of a complete renovation, making it ideal for experienced investors, contractors, or anyone seeking a value-add project in an established HOA community known for its small-town charm and strong neighborhood appeal. The home offers excellent potential for both investors and rehabbers—once updated, it can be transformed into a desirable single-family rental or a profitable resale. Plus an additional land parcel of 0.2066. The location provides easy access to parks, schools, shopping, and major routes connecting to nearby cities. The area has a proven track record of solid after-repair values and steady rental demand, offering an opportunity for significant equity growth. Full-service property management available with dedicated departments for leasing, marketing, tenant communication, plus rehab and construction services for remote investors! Schedule a showing to see it for yourself!

11. 2025-03-05
    soldstatus $29,139

ⓘ 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: $1,467 · $122/mo
• Projected year-2 tax: $1,467 · $122/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 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,763
• − Mortgage interest: −$2,297
• − Property taxes: −$1,467
• − Insurance: −$205
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − HOA: −$960
• − Depreciation: −$1,193
• Taxable income: $10,479
• Est. tax owed @ 24.0%: −$2,515
• After-tax cash flow: $7,885/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: Keystone Local
• NCES district ID: 3904816
• Math proficiency: 55% ▼ -16.00%
• Reading proficiency: 67% ▼ -11.00%
• Median HH income: $64,696
• Composite: 53.27/100
• National rank: #1493
• State rank: #249 of 656 in OH

Livability — Pheasant Run

• Score: 70/100
• State rank: #475
• US rank: #7911

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pheasant Run, OH
• County: Lorain · 305,041 people
• Metro: Cleveland, OH
• Population (ZIP): 7,204
• Household income: $100,625
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 7.2

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: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 8% Slovak 3% Italian 2%
• Foreign-born: 0%

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: ▼ -58.79%
• Current HPI: 200.695
• 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

+40.7% since first listed

7 events — show timeline

• 2026-05-15 Price Changed $41,000 MLSNOW
• 2026-04-15 Price Changed $46,455 MLSNOW
• 2026-03-17 Price Changed $48,900 MLSNOW
• 2026-01-30 Price Changed $58,900 MLSNOW
• 2025-12-01 Price Changed $59,900 MLSNOW
• 2025-11-10 Listed $64,900 MLSNOW
• 2025-03-05 Sold (Public Records) $29,139 Public Records

Property tax history

+16.1%/yr

Latest (2025): $1,467 · -43.4% YoY. Source: county tax records.