417 Courtland St · Wellington, OH 44090

$104,900

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 35 Days on market

Built 1900 7,840 sqft lot Est $202k · 48% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +6.2/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bed 1 bath in Wellington. 1 bed and full bath on main floor. 2 beds up. Solid home needing some TLC. 90 % efficient furnace only a couple years old. Sump pump added a few years ago. Updated wiring. Currently rented and could continue to be a rental or would make a great home for someone with some work. Great home for the money.

Key facts

• Sump pump
• First floor bedroom
• 7,840 sq ft lot

Tags

• FIRST FLOOR BEDROOM
• UPDATED ELECTRICAL WIRING
• SUMP PUMP

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#762 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, health & safety F.
• Wellington Exempted Village (town): math 44% / reading 50% proficiency, ranked #472 of 656 in OH (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Westwood Elementary School (math 47% / reading 42%, grade F, #991 of 1,584 statewide, top 64%, 294 students, 44% FRL); Mccormick Middle School (math 47% / reading 52%, grade C, #421 of 654 statewide, top 65%, 378 students, 34% FRL); Wellington High School (math 32% / reading 47%, grade F, #528 of 781 statewide, top 71%, 248 students, 37% FRL).
• Market conditions: 45 active listings in the ZIP; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent is only 18% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $25k; list at $105k implies a 320% 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 $101,753 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.12% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.19%
• DSCR: 1.32
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $201,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
292 Grand Ave	0.10mi	3/2.0	1,256 (-6%)	7mo	$258,600	$206	74
123 Dickson St	0.23mi	3/1.0	1,480 (+10%)	1mo	$65,000	$44	71
207 Grand Ave	0.32mi	3/1.5	1,258 (-6%)	4mo	$213,000	$169	69
220 Woodland	0.48mi	3/1.5	1,400 (+4%)	1mo	$282,000	$201	68
113 Grove St	0.13mi	3/2.0	1,488 (+11%)	6mo	$179,900	$121	67
120 Hale St	0.55mi	3/2.0	1,285 (-4%)	3mo	$196,000	$153	61
117 Union St	0.61mi	3/1.0	1,399 (+4%)	9mo	$137,000	$98	57
283 Woodland Ct	0.44mi	3/2.0	1,509 (+12%)	2mo	$315,000	$209	53
513 E Herrick Ave	0.54mi	3/1.0	1,528 (+14%)	6mo	$229,500	$150	47
113 Elm St	0.67mi	3/1.0	1,184 (-12%)	4mo	$165,000	$139	45
138 Middle St	0.70mi	3/1.0	1,536 (+14%)	1mo	$167,000	$109	43
222 Union St	0.73mi	4/2.0 (+1)	1,154 (-14%)	3mo	$140,000	$121	31

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-5,750
• Equity at exit: $15,641

10-year hold

• IRR: 4.4%
• Equity multiple: 1.33×
• Total profit: $9,566
• Equity at exit: $9,070

Cash invested: $29,372 (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 44090

• Home prices YoY: -30.3%
• Active inventory: 45
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$154 /mo · $1,854/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $176

Break-even live

Break-even rent $947

Max offer price $104,900

Occupancy floor 80%

Sensitivity live

Price	-10% $235	-5% $206	+0% $176	+5% $146	+10% $117
Rent	-10% $84	-5% $130	+0% $176	+5% $222	+10% $269
Rate	-1.0pp $229	-0.5pp $203	base $176	+0.5pp $149	+1.0pp $121

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $104,900 Active 35 DOM
2. 2026-06-21
   days on market $104,900 Active 34 DOM
3. 2026-06-21
   days on market $104,900 Active 33 DOM
4. 2026-06-18
   days on market $104,900 Active 31 DOM
5. 2026-06-17
   days on market $104,900 Active 30 DOM
6. 2026-06-16
   days on market $104,900 Active 29 DOM
7. 2026-06-15
   days on market $104,900 Active 28 DOM
8. 2026-06-13
   days on market $104,900 Active 26 DOM
9. 2026-06-12
   days on market $104,900 Active 25 DOM
10. 2026-06-09
    days on market $104,900 Active 22 DOM
11. 2026-06-08
    days on market $104,900 Active 21 DOM
12. 2026-06-08
    days on market $104,900 Active 20 DOM
13. 2026-06-05
    days on market $104,900 Active 18 DOM
14. 2026-06-04
    days on market $104,900 Active 16 DOM
15. 2026-06-02
    days on market $104,900 Active 15 DOM
16. 2026-06-01
    days on market $104,900 Active 14 DOM
17. 2026-05-31
    days on market $104,900 Active 13 DOM
18. 2026-05-18
    listed $104,900 Active
19. 2021-03-18
    historical
20. 2020-09-18
    listed $99,900 Active
21. 2015-08-28
    soldstatus $25,000 Sold 331-char remark

    Show marketing remark (331 chars)

    3 bed 1 bath in Wellington. 1 bed and full bath on main floor. 2 beds up. Solid home needing some TLC. 90 % efficient furnace only a couple years old. Sump pump added a few years ago. Updated wiring. Currently rented and could continue to be a rental or would make a great home for someone with some work. Great home for the money.

22. 2015-07-30
    status Pending 331-char remark

    Show marketing remark (331 chars)

    3 bed 1 bath in Wellington. 1 bed and full bath on main floor. 2 beds up. Solid home needing some TLC. 90 % efficient furnace only a couple years old. Sump pump added a few years ago. Updated wiring. Currently rented and could continue to be a rental or would make a great home for someone with some work. Great home for the money.

23. 2015-06-19
    price $37,500 331-char remark

    Show marketing remark (331 chars)

    3 bed 1 bath in Wellington. 1 bed and full bath on main floor. 2 beds up. Solid home needing some TLC. 90 % efficient furnace only a couple years old. Sump pump added a few years ago. Updated wiring. Currently rented and could continue to be a rental or would make a great home for someone with some work. Great home for the money.

24. 2015-05-19
    listed $39,900 Active 331-char remark

    Show marketing remark (331 chars)

    3 bed 1 bath in Wellington. 1 bed and full bath on main floor. 2 beds up. Solid home needing some TLC. 90 % efficient furnace only a couple years old. Sump pump added a few years ago. Updated wiring. Currently rented and could continue to be a rental or would make a great home for someone with some work. Great home for the money.

ⓘ 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: $1,854 · $154/mo
• Projected year-2 tax: $1,854 · $154/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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,042
• − Mortgage interest: −$5,876
• − Property taxes: −$1,854
• − Insurance: −$524
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$3,052
• Taxable income: $489
• Est. tax owed @ 24.0%: −$117
• After-tax cash flow: $1,996/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: Wellington Exempted Village
• NCES district ID: 3904565
• Math proficiency: 44% ▼ -16.00%
• Reading proficiency: 50% ▼ -9.00%
• Median HH income: $54,093
• Composite: 40.67/100
• National rank: #3677
• State rank: #472 of 656 in OH

Livability — Wellington

• Score: 64/100
• State rank: #762
• US rank: #13751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellington, OH
• County: Lorain · 305,041 people
• City population: 10,341
• Metro: Cleveland, OH
• Population (ZIP): 10,341
• Household income: $78,318
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 3.9

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 (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 13% Italian 3% Slovak 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1%

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: ▼ -90.14%
• Current HPI: 207.6399
• 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

+162.9% since first listed

7 events — show timeline

• 2026-05-18 Listed $104,900 MLSNOW
• 2021-03-18 Listing Removed — MLSNOW
• 2020-09-18 Listed $99,900 MLSNOW
• 2015-08-28 Sold (MLS) $25,000 MLSNOW
• 2015-07-30 Pending — MLSNOW
• 2015-06-19 Price Changed $37,500 MLSNOW
• 2015-05-19 Listed $39,900 MLSNOW

Property tax history

+5.4%/yr

Latest (2025): $1,854 · +2.1% YoY. Source: county tax records.