2910 Caroline Ave · Lorain, OH 44055

$45,000

4 bd · 2.0 ba · 1,859 sqft · MultiFamily public records · 150 Days on market

Built 1900 4,791 sqft lot $24/sqft · 60% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Multi-family units

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

Listing remarks MLS

This Is Not a House. This Is a Play. Welcome to 2910 Caroline Ave, Lorain, Ohio—a vacant duplex with serious upside and the kind of potential seasoned investors chase. This is a full rehab, blank-canvas opportunity perfect for a BRRRR strategy, value-add hold, or straight flip. Both units are vacant, giving you total control from day one—design it, renovate it, rent it, refi it, or sell it. Located in an established neighborhood with strong rental demand, this property is ideal for investors who know how to execute and aren’t afraid to roll up their sleeves. If you’re looking for turnkey, keep scrolling. If you’re looking for profit, this is it. Bring your contractor. Bring your vision. This is where real money gets made.

Key facts

• Strong rental demand
• Full rehab
• Vacant duplex

Tags

• VACANT DUPLEX
• FULL REHAB
• STRONG RENTAL DEMAND
• ESTABLISHED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $45k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $794/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 48.7% vs local median 5.7% 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: 84 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).
• At $2,428/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 $311 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 $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $30k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $45k implies a 246% 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 $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 5.40% ✓
• Cap rate: 48.66%
• Cash-on-cash: 151.32%
• DSCR: 7.73
• GRM: 1.5

CMA / ARV

• ARV (median comp): $113,791
• List price: $45,000
• Delta: -60.45%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.46×
• Total profit: $93,948
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 17.85×
• Total profit: $212,304
• Equity at exit: $3,891

Cash invested: $12,600 (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 44055

• Home prices YoY: -30.5%
• Active inventory: 84
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,428 high
• Mortgage (P&I): −$236
• Tax from tax record: −$75 /mo · $895/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $1,589

Break-even live

Break-even rent $417

Max offer price $45,000

Occupancy floor 30%

Sensitivity live

Price	-10% $1,614	-5% $1,602	+0% $1,589	+5% $1,576	+10% $1,563
Rent	-10% $1,397	-5% $1,493	+0% $1,589	+5% $1,685	+10% $1,781
Rate	-1.0pp $1,611	-0.5pp $1,600	base $1,589	+0.5pp $1,577	+1.0pp $1,565

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,428
Total (2 units)			$2,428

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2909 Denver Ave Lorain, OH	3.0	1.0	1597	$1,400	$0.88	45d	1	0.10mi
200 E 31st St Lorain, OH	5.0	2.0	1562	$1,550	$0.99	3d	1	0.15mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	45d	1	0.17mi
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	45d	1	0.44mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	45d	1	0.56mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	25d	1	0.84mi
1639 E 31st St Unit 1637 Lorain, OH	3.0	1.0	1500	$1,200	$0.80	45d	1	0.88mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	4d	1	0.99mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	45d	1	1.14mi
1763 E 36th St Lorain, OH	5.0	1.5	2000	$1,895	$0.95	3d	1	1.26mi
1813 E 30th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	45d	1	1.30mi
1037 Washington Ave Lorain, OH	4.0	2.0	1567	$1,600	$1.02	18d	1	1.40mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	25d	1	1.45mi
760 W 9th St Lorain, OH	4.0	2.0	1987	$1,600	$0.81	45d	1	1.46mi

Listing history 26 events

1. 2026-06-21
   days on market $45,000 Active 150 DOM
2. 2026-06-19
   price $45,000 Active 147 DOM
3. 2026-06-18
   days on market $55,000 Active 147 DOM
4. 2026-06-17
   days on market $55,000 Active 146 DOM
5. 2026-06-16
   days on market $55,000 Active 145 DOM
6. 2026-06-15
   days on market $55,000 Active 144 DOM
7. 2026-06-13
   days on market $55,000 Active 142 DOM
8. 2026-06-13
   days on market $55,000 Active 141 DOM
9. 2026-06-09
   days on market $55,000 Active 138 DOM
10. 2026-06-08
    days on market $55,000 Active 137 DOM
11. 2026-06-07
    days on market $55,000 Active 136 DOM
12. 2026-06-03
    days on market $55,000 Active 132 DOM
13. 2026-06-02
    days on market $55,000 Active 131 DOM
14. 2026-06-01
    days on market $55,000 Active 130 DOM
15. 2026-05-31
    days on market $55,000 Active 129 DOM
16. 2026-04-23
    price $65,000 761-char remark

    Show marketing remark (761 chars)

    This Is Not a House. This Is a Play. Welcome to 2910 Caroline Ave, Lorain, Ohio—a vacant duplex with serious upside and the kind of potential seasoned investors chase. This is a full rehab, blank-canvas opportunity perfect for a BRRRR strategy, value-add hold, or straight flip. Both units are vacant, giving you total control from day one—design it, renovate it, rent it, refi it, or sell it. Located in an established neighborhood with strong rental demand, this property is ideal for investors who know how to execute and aren’t afraid to roll up their sleeves. If you’re looking for turnkey, keep scrolling. If you’re looking for profit, this is it. Bring your contractor. Bring your vision. This is where real money gets made.

17. 2026-03-12
    status Active 761-char remark

    Show marketing remark (761 chars)

    This Is Not a House. This Is a Play. Welcome to 2910 Caroline Ave, Lorain, Ohio—a vacant duplex with serious upside and the kind of potential seasoned investors chase. This is a full rehab, blank-canvas opportunity perfect for a BRRRR strategy, value-add hold, or straight flip. Both units are vacant, giving you total control from day one—design it, renovate it, rent it, refi it, or sell it. Located in an established neighborhood with strong rental demand, this property is ideal for investors who know how to execute and aren’t afraid to roll up their sleeves. If you’re looking for turnkey, keep scrolling. If you’re looking for profit, this is it. Bring your contractor. Bring your vision. This is where real money gets made.

18. 2026-03-01
    historical Contingent 761-char remark

    Show marketing remark (761 chars)

    This Is Not a House. This Is a Play. Welcome to 2910 Caroline Ave, Lorain, Ohio—a vacant duplex with serious upside and the kind of potential seasoned investors chase. This is a full rehab, blank-canvas opportunity perfect for a BRRRR strategy, value-add hold, or straight flip. Both units are vacant, giving you total control from day one—design it, renovate it, rent it, refi it, or sell it. Located in an established neighborhood with strong rental demand, this property is ideal for investors who know how to execute and aren’t afraid to roll up their sleeves. If you’re looking for turnkey, keep scrolling. If you’re looking for profit, this is it. Bring your contractor. Bring your vision. This is where real money gets made.

19. 2026-01-22
    listed $75,000 Active 761-char remark

    Show marketing remark (761 chars)

    This Is Not a House. This Is a Play. Welcome to 2910 Caroline Ave, Lorain, Ohio—a vacant duplex with serious upside and the kind of potential seasoned investors chase. This is a full rehab, blank-canvas opportunity perfect for a BRRRR strategy, value-add hold, or straight flip. Both units are vacant, giving you total control from day one—design it, renovate it, rent it, refi it, or sell it. Located in an established neighborhood with strong rental demand, this property is ideal for investors who know how to execute and aren’t afraid to roll up their sleeves. If you’re looking for turnkey, keep scrolling. If you’re looking for profit, this is it. Bring your contractor. Bring your vision. This is where real money gets made.

20. 2013-05-29
    soldstatus $13,000
21. 2012-03-21
    soldstatus $9,000 225-char remark

    Show marketing remark (225 chars)

    Great price on this duplex. Electric was updated prior to current seller's purchase in 2005. Plus hot water tanks, copper pipes, painted, newer sinks/fixtures, repaired floors, remodeled baths after seller purchased in 2005.

22. 2011-08-07
    listed $11,900 225-char remark

    Show marketing remark (225 chars)

    Great price on this duplex. Electric was updated prior to current seller's purchase in 2005. Plus hot water tanks, copper pipes, painted, newer sinks/fixtures, repaired floors, remodeled baths after seller purchased in 2005.

23. 2006-04-26
    soldstatus $54,900
24. 2005-08-08
    historical
25. 2005-02-08
    listed $54,900
26. 2004-03-12
    soldstatus $20,000

ⓘ 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: $895 · $75/mo
• Projected year-2 tax: $895 · $75/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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,136
• − Mortgage interest: −$2,521
• − Property taxes: −$895
• − Insurance: −$225
• − Repairs & maintenance: −$2,331
• − Management: −$2,331
• − Depreciation: −$1,309
• Taxable income: $19,525
• Est. tax owed @ 24.0%: −$4,686
• After-tax cash flow: $14,380/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

+225.0% since first listed

11 events — show timeline

• 2026-04-23 Price Changed $65,000 MLSNOW
• 2026-03-12 Relisted — MLSNOW
• 2026-03-01 Contingent — MLSNOW
• 2026-01-22 Listed $75,000 MLSNOW
• 2013-05-29 Sold (Public Records) $13,000 Public Records
• 2012-03-21 Sold (MLS) $9,000 MLSNOW
• 2011-08-07 Listed $11,900 MLSNOW
• 2006-04-26 Sold (Public Records) $54,900 Public Records
• 2005-08-08 Listing Removed — MLSNOW
• 2005-02-08 Listed $54,900 MLSNOW
• 2004-03-12 Sold (Public Records) $20,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $895 · -4.9% YoY. Source: county tax records.