406 E Main Rd · Conneaut, OH 44030

$99,900

3 bd · 1.0 ba · 1,698 sqft · MultiFamily · 1 Days on market

Built 1900 Fair condition 0.80 ac lot

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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 +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

406 and 410 E Main are selling together as one funky, useful, full-of-potential package on 0.80 acre. Newer siding, newer windows, newer roof on the house — and wait until you see the mechanic’s garage. You get two parcels, a cute and livable downstairs unit with 3 bedrooms and a bath, and an unfinished 26x26 upstairs space with exterior-only access. Behind the house is a 22x19 detached garage/outbuilding with plumbing for a bathroom and some roof repair needed. The basement is great — dry, with a newer furnace and updated electrical panel. The 410 parcel brings the fun with a 39x29 main garage/workshop area, concrete floor, automotive lift, lighting, ceiling-mounted gas h

Key facts

• Mechanics garage
• Two parcels
• Newer roof

Tags

• NEWER SIDING
• NEWER WINDOWS
• NEWER ROOF
• MECHANICS GARAGE
• TWO PARCELS
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Driveway; Attached garage with 4 spaces
• Utilities: Public water; Public sewer
• Home design: Two-story home; Single building
• Construction: Vinyl siding; Asphalt/fiberglass roof
• Exterior features: South-facing

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air gas heating
• Interior features: Has basement (partial, crawl space); 7 total rooms; Fixer condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 14.4% vs local median 4.6% in Conneaut — 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 63/100 on livability (#808 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, health & safety D.
• Conneaut Area City (town): math 35% / reading 50% proficiency, ranked #527 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($57k/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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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 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: 1.73% ✓
• Cap rate: 14.41%
• Cash-on-cash: 28.98%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.4%
• Equity multiple: 1.96×
• Total profit: $26,862
• Equity at exit: $14,895

10-year hold

• IRR: 31.3%
• Equity multiple: 3.82×
• Total profit: $78,898
• Equity at exit: $8,638

Cash invested: $27,972 (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 44030

• Home prices YoY: -10.8%
• Active inventory: 59
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,729 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $676

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$903
1× unit	0	0	$826
Total (2 units)			$1,729

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-08
   status Pending
2. 2026-05-07
   listed $99,900 Active

ⓘ 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 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,748
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$2,906
• Taxable income: $6,928
• Est. tax owed @ 24.0%: −$1,663
• After-tax cash flow: $6,444/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The property is in fair condition with some repairs and maintenance needed. Updating the kitchen and bathroom, and improving the landscaping will increase its resale and rental value.

Repairs flagged

• Major Detached garage/outbuilding roof — The roof appears to be in poor condition and requires immediate attention.
• Major Detached garage/outbuilding plumbing — The plumbing appears to be in poor condition and requires immediate attention.

Value-add opportunities

• Resale Updating the kitchen and bathroom — Updating the kitchen and bathroom will make the property more attractive to potential buyers and increase its resale value.
• Rental Landscaping and curb appeal improvements — Improving the landscaping and curb appeal will make the property more attractive to renters and increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Detached garage/outbuilding roof · The roof appears to be in poor condition and requires immediate attention.	Major	$15,000–50,000
Detached garage/outbuilding plumbing · The plumbing appears to be in poor condition and requires immediate attention.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Resale Updating the kitchen and bathroom — Updating the kitchen and bathroom will make the property more attractive to potential buyers and increase its resale value. ↑
• Rental Landscaping and curb appeal improvements — Improving the landscaping and curb appeal will make the property more attractive to renters and increase its rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Conneaut Area City
• NCES district ID: 3904381
• Math proficiency: 35% ▼ -18.00%
• Reading proficiency: 50% ▼ -12.00%
• Median HH income: $38,064
• Composite: 35.37/100
• National rank: #4953
• State rank: #527 of 656 in OH

Livability — Conneaut

• Score: 63/100
• State rank: #808
• US rank: #14907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Conneaut, OH
• County: Ashtabula · 97,617 people
• City population: 16,317
• Metro: Cleveland, OH
• Population (ZIP): 16,317
• Household income: $57,264
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 11.2

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 (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

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: ▼ -32.21%
• Current HPI: 265.5019
• 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

2 events — show timeline

• 2026-05-08 Pending — MLSNOW
• 2026-05-07 Listed $99,900 MLSNOW