828 Broad St · Elyria, OH 44035

$57,527

3 bd · 1.0 ba · 1,699 sqft · SingleFamily public records · 7 Days on market

Built 1900 9,583 sqft lot ↓ 4% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large Four Bedroom Home With Third Floor Attic. Natural Woodwork, Kitchen Addition With Large Eating Area. Formal Dining Room, Living Room And Large Den. Dual Entry Staircase. Needs Drywall Work And Remodeling Inside. Large Two Car Garage.

Key facts

• Large deck
• Fenced yard
• Outdoor amenities

Tags

• DOUBLE LOT
• DETACHED 2-CAR GARAGE
• FENCED YARD
• LARGE DECK
• GENEROUS OUTDOOR SPACE
• OUTDOOR AMENITIES

Property features AI

Exterior

• Parking: Detached garage; Two garage spaces
• Utilities: Public water; Public sewer
• Home design: Two-story house; Vinyl siding
• Construction: Asphalt/fiberglass roof; Block foundation; Built according to public records
• Exterior features: Deck; Fenced yard

Interior

• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Forced-air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Cap rate 17.2% vs local median 3.8% in Elyria — 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 75/100 on livability (#243 in OH, #3,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, employment D, commute F.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.7%/yr); 356 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $397 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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 $45k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,527

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.18% ✓
• Cap rate: 17.21%
• Cash-on-cash: 39.00%
• DSCR: 2.74
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $156,308
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Parkview Ct	0.33mi	4/1.0 (+1)	1,714 (+1%)	5mo	$165,000	$96	74
568 Turner St	0.14mi	4/2.0 (+1)	1,578 (-7%)	4mo	$180,000	$114	69
127 Cascade St	0.35mi	4/1.0 (+1)	1,612 (-5%)	3mo	$106,000	$66	68
132 Willow Way	0.34mi	3/2.0	1,628 (-4%)	11mo	$383,680	$236	64
420 East Ave	0.61mi	3/1.5	1,767 (+4%)	1mo	$150,000	$85	62
6234 W River Rd S	0.39mi	2/1.0 (-1)	1,612 (-5%)	9mo	$75,000	$47	61
747 W River Rd N	0.59mi	3/1.0	1,556 (-8%)	2mo	$82,000	$53	57
455 9th St	0.62mi	3/1.0	1,448 (-15%)	8mo	$125,000	$86	40
906 Middle Ave	0.74mi	3/1.0	1,508 (-11%)	12mo	$129,900	$86	36
757 W River Rd N	0.61mi	3/2.0	1,448 (-15%)	10mo	$186,000	$128	35
803 East Ave	0.75mi	3/1.5	1,484 (-13%)	10mo	$137,000	$92	34
123 Chase St	0.71mi	3/2.0	1,509 (-11%)	13mo	$163,000	$108	34

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 · 6.74% rent growth · sell at horizon

5-year hold

• IRR: 39.7%
• Equity multiple: 2.80×
• Total profit: $28,970
• Equity at exit: $8,577

10-year hold

• IRR: 48.0%
• Equity multiple: 6.59×
• Total profit: $90,088
• Equity at exit: $4,974

Cash invested: $16,108 (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 44035

• Rents YoY: 6.7%
• Active inventory: 356
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,253 medium
• Mortgage (P&I): −$302
• Tax from tax record: −$141 /mo · $1,690/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $523

Break-even live

Break-even rent $590

Max offer price $57,527

Occupancy floor 53%

Sensitivity live

Price	-10% $556	-5% $540	+0% $523	+5% $507	+10% $491
Rent	-10% $424	-5% $474	+0% $523	+5% $573	+10% $622
Rate	-1.0pp $552	-0.5pp $538	base $523	+0.5pp $509	+1.0pp $493

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: $14,382
• Closing costs: $1,726
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Lake Ave Unit 100 Rush Elyria, OH	3.0	1.0	1248	$1,099	$0.88	5d	1	0.66mi
100 Rush St Elyria, OH	3.0	1.0	1248	$1,099	$0.88	8d	1	0.66mi
944 Walnut St Elyria, OH	2.0	1.0	1064	$1,200	$1.13	17d	1	1.17mi
222 Georgia Ave Elyria, OH	3.0	2.5	1850	$1,750	$0.95	2d	1	1.34mi

Listing history 8 events

1. 2026-06-18
   status $57,527 Active 7 DOM
2. 2026-06-13
   statusdays on market $57,527 Pending 7 DOM
3. 2026-06-09
   days on market $57,527 Active 6 DOM
4. 2026-06-08
   status $57,527 Active 5 DOM
5. 2026-05-21
   listed $57,527 Active
6. 2006-06-26
   soldstatus $45,000 239-char remark

   Show marketing remark (239 chars)

   Large Four Bedroom Home With Third Floor Attic. Natural Woodwork, Kitchen Addition With Large Eating Area. Formal Dining Room, Living Room And Large Den. Dual Entry Staircase. Needs Drywall Work And Remodeling Inside. Large Two Car Garage.

7. 2006-06-26
   soldstatus $45,000

   Show marketing remark (239 chars)

   Large Four Bedroom Home With Third Floor Attic. Natural Woodwork, Kitchen Addition With Large Eating Area. Formal Dining Room, Living Room And Large Den. Dual Entry Staircase. Needs Drywall Work And Remodeling Inside. Large Two Car Garage.

8. 2006-03-20
   listed $59,900 239-char remark

   Show marketing remark (239 chars)

   Large Four Bedroom Home With Third Floor Attic. Natural Woodwork, Kitchen Addition With Large Eating Area. Formal Dining Room, Living Room And Large Den. Dual Entry Staircase. Needs Drywall Work And Remodeling Inside. Large Two Car Garage.

ⓘ 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: $1,690 · $141/mo
• Projected year-2 tax: $1,690 · $141/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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,036
• − Mortgage interest: −$3,222
• − Property taxes: −$1,690
• − Insurance: −$288
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − Depreciation: −$1,674
• Taxable income: $5,757
• Est. tax owed @ 24.0%: −$1,382
• After-tax cash flow: $4,900/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: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 of 656 in OH

Livability — Elyria

• Score: 75/100
• State rank: #243
• US rank: #3869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elyria, OH
• County: Lorain County · 219,437 people
• City population: 62,179
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 62,179
• Household income: $56,408
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2229.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 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: ▼ -139.09%
• Current HPI: 199.7354
• Rent YoY: ▲ 6.74%
• 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

-4.0% since first listed

4 events — show timeline

• 2026-05-21 Listed $57,527 MLSNOW
• 2006-06-26 Sold (Public Records) $45,000 Public Records
• 2006-06-26 Sold (MLS) $45,000 MLSNOW
• 2006-03-20 Listed $59,900 MLSNOW

Property tax history

+4.0%/yr

Latest (2025): $1,690 · +0.5% YoY. Source: county tax records.