3323 Lake Ave · Ashtabula, OH 44004

$135,000

3 bd · 1.0 ba · 1,805 sqft · SingleFamily public records · 4 Days on market

Built 1897 10,018 sqft lot Est $166k · 19% 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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 4-bedroom, 1.5-bath home in a convenient Ashtabula location. The main level offers an inviting living area accented by attractive hardwood floors, along with a versatile bedroom and half bath that can serve as a guest room, home office, or main-floor sleeping space. Upstairs, three additional bedrooms and a full bath provide comfortable, well-defined private spaces. There is also a bonus room upstairs that could be a 5th bedroom, office, additional storage, or anything you can imagine. The property is just minutes from Ashtabula County Medical Center, local marinas including Jack’s Marina, and a variety of nearby restaurants and waterfront attractions,

Key facts

• Proximity to dining
• Flexible floor plan
• 0.23 acre lot

Tags

• FLEXIBLE FLOOR PLAN
• MAIN FLOOR SLEEPING SPACE
• PROXIMITY TO HEALTHCARE
• PROXIMITY TO RECREATION
• PROXIMITY TO DINING

Property features AI

Finance

• Financial info: Annual tax noted (amount available in records)

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story home; Asbestos shingle roof; Vinyl siding
• Construction: Built (year per public records); Vinyl siding construction; Asbestos shingle roof; Full basement
• Exterior features: Lot about 0.23 acres

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Baseboard heating; Ceiling fans for cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).

Location & tenants

• Location reads 71/100 on livability (#420 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Ashtabula Area City (town): math 24% / reading 35% proficiency, ranked #588 of 656 in OH (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Superior Intermediate School (math 30% / reading 31%, grade F, #1,151 of 1,584 statewide, top 73%, 436 students, 0% FRL); Lakeside Junior High School (math 24% / reading 34%, grade F, #579 of 654 statewide, top 89%, 505 students, 0% FRL); Lakeside High School (math 12% / reading 37%, grade F, #644 of 781 statewide, top 85%, 894 students, 0% FRL) — zoned schools average 0% FRL vs 63% district-wide (63 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 169 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ashtabula County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $38k; list at $135k implies a 255% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.08% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $166,060
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3319 Superior Ave	0.07mi	4/1.5 (+1)	1,705 (-6%)	6mo	$55,000	$32	76
2530 W Center St	0.56mi	3/2.0	2,072 (+15%)	18mo	$191,500	$92	30

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-7,681
• Equity at exit: $20,129

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $11,652
• Equity at exit: $11,672

Cash invested: $37,800 (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 44004

• Home prices YoY: -30.5%
• Active inventory: 169
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,463 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $223

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 80%

Sensitivity live

Price	-10% $316	-5% $269	+0% $223	+5% $176	+10% $129
Rent	-10% $107	-5% $165	+0% $223	+5% $280	+10% $338
Rate	-1.0pp $291	-0.5pp $257	base $223	+0.5pp $188	+1.0pp $152

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $135,000 Active 4 DOM
2. 2026-06-21
   days on market $135,000 Active 3 DOM
3. 2026-06-18
   remarks 693-char remark
4. 2026-06-18
   remarks 668-char remark
5. 2026-06-18
   listed $135,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,552
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$3,927
• Taxable income: $554
• Est. tax owed @ 24.0%: −$133
• After-tax cash flow: $2,537/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: Ashtabula Area City
• NCES district ID: 3904351
• Math proficiency: 24% ▼ -27.00%
• Reading proficiency: 35% ▼ -13.00%
• Median HH income: $34,812
• Composite: 24.3/100
• National rank: #7712
• State rank: #588 of 656 in OH

Livability — Ashtabula

• Score: 71/100
• State rank: #420
• US rank: #6883

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashtabula, OH
• County: Ashtabula · 97,617 people
• City population: 31,076
• Metro: Cleveland, OH
• Population (ZIP): 31,076
• Household income: $49,507
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 14.1

Population outlook (Ashtabula County) Hauer SSP2

• Today (2025): 92,950 people
• By 2030: 89,146 · -4.1%
• By 2040: 80,715 · -13.2%
• By 2050: 72,270 · -22.2%
• By 2075: 55,780 · -40.0%
• By 2100: 40,928 · -56.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Romanian 4% Iranian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Ashtabula

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.8%
• 2008→2024 swing: -41.9pp toward R · 2008: 13.5pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+23.5 2016: R+19.0 2012: D+12.1 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.51%
• Current HPI: 260.7146
• 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

+255.3% since first listed

2 events — show timeline

• 2026-06-01 Listed $135,000 MLSNOW
• 1993-09-01 Sold (Public Records) $38,000 Public Records

Property tax history

-7.4%/yr

Latest (2025): $49 · -26.1% YoY. Source: county tax records.