10071 Colfax Dr · Olmsted Falls, OH 44028

$180,000

2 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 16 Days on market

Built 1951 9,147 sqft lot $131/sqft · 25% below area Est $240k · 25% 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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• Schools +5.5/10.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in desirable Columbia Station, this 3 bedroom 1 bath ranch offers a great opportunity for investors, flippers, or buyers looking to add their personal touch. The home features 2 bedrooms on the main level with an additional dormer-style bedroom upstairs, providing flexible living space. Bring your imagination and a little elbow grease to restore this property to its full potential. Conveniently located near local amenities, shopping, and major highways. Property is being sold AS-IS.

Key facts

• Local amenities
• Dormer-style bedroom
• Major highways

Tags

• DORMER-STYLE BEDROOM
• FLEXIBLE LIVING SPACE
• LOCAL AMENITIES
• MAJOR HIGHWAYS

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Detached or attached garage with 1-car capacity; Gravel parking area
• Security:
• Utilities: Public water; Public sewer
• Home design: Single-story home (with usable second-level bedroom); Wood siding exterior; Asphalt/fiberglass roof
• Construction: Built per public records (year built from public records); Wood siding construction; Asphalt/fiberglass roof
• Exterior features: Lot approximately 0.21 acres

Interior

• Kitchen:
• Bedrooms: Two main-level bedrooms; One bedroom on the second level (large 21 x 11)
• Flooring: Wood flooring in several bedrooms; Carpet in the living room; Linoleum in family room and bathroom
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced-air heating; Central air conditioning
• Interior features: One fireplace
• Laundry & utility: Main-level laundry room (7 x 6) with concrete flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (3.7% below list).
• Recommended offer: $173k (3.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 4.2% in Olmsted Falls — 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 73/100 on livability (#343 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Columbia Local (rural): math 55% / reading 71% proficiency, ranked #211 of 656 in OH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 93 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $173,312 (3.7% below list)

Questions for the listing agent

1. Built in 1951 — 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. Schools are A-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?
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: 0.96% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (median comp): $239,897
• List price: $180,000
• Delta: -24.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9990 Aldridge Dr	0.09mi	3/1.5 (+1)	1,300 (-5%)	10mo	$202,000	$155	72
9855 Dupont Dr	0.15mi	3/1.0 (+1)	1,271 (-7%)	6mo	$175,000	$138	71
24628 Sprague Rd	0.45mi	3/1.5 (+1)	1,381 (+1%)	6mo	$244,000	$177	66
10128 Valleyview Dr	0.18mi	3/1.5 (+1)	1,482 (+8%)	7mo	$270,000	$182	65
10209 Bryant Ave	0.11mi	3/2.0 (+1)	1,540 (+12%)	1mo	$315,000	$205	64
10176 Dupont Ave	0.11mi	3/2.0 (+1)	1,540 (+12%)	7mo	$289,900	$188	60
10310 Greenview Dr	0.31mi	3/1.5 (+1)	1,482 (+8%)	9mo	$225,300	$152	57
9749 E River Rd N	0.73mi	3/1.5 (+1)	1,292 (-6%)	8mo	$236,000	$183	43
771 Trotter Ln	0.71mi	3/2.0 (+1)	1,428 (+4%)	11mo	$246,000	$172	42
23165 Sprague Rd	0.47mi	3/2.0 (+1)	1,500 (+9%)	14mo	$215,000	$143	41
8302 Lorraine Dr	0.72mi	3/2.0 (+1)	1,280 (-7%)	9mo	$280,000	$219	38
9604 Grist Mill Run	0.52mi	3/2.5 (+1)	1,562 (+14%)	10mo	$233,000	$149	33

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-15,529
• Equity at exit: $26,839

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $3,961
• Equity at exit: $15,563

Cash invested: $50,400 (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 44028

• Home prices YoY: -29.7%
• Active inventory: 93
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,733 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $215

Break-even live

Break-even rent $1,461

Max offer price $180,000

Occupancy floor 83%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9745 Douglas Ln Olmsted Falls, OH	1.0–3.0	1.0	1000	$1,372	$1.37	1d	2	0.63mi
480 Haverhill Cir Berea, OH	3.0	2.0	1864	$1,945	$1.04	1d	1	0.86mi
9299 Columbia Rd Olmsted Falls, OH	1.0–2.0	1.0–1.5	782	$2,120	$2.71	1d	1	0.93mi

Listing history 11 events

1. 2026-06-18
   status $180,000 Pending 16 DOM
2. 2026-06-18
   days on market $180,000 Active 16 DOM
3. 2026-06-17
   days on market $180,000 Active 15 DOM
4. 2026-06-16
   days on market $180,000 Active 14 DOM
5. 2026-06-15
   days on market $180,000 Active 13 DOM
6. 2026-06-13
   days on market $180,000 Active 11 DOM
7. 2026-06-12
   days on market $180,000 Active 10 DOM
8. 2026-06-09
   days on market $180,000 Active 7 DOM
9. 2026-06-08
   days on market $180,000 Active 6 DOM
10. 2026-06-08
    status $180,000 Active 5 DOM
11. 2026-05-15
    listed $180,000 Active 495-char remark

ⓘ 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: $1,628 · $136/mo
• Projected year-2 tax: $2,218 · $185/mo
• Expected delta: +$590/yr (+$49/mo · 36.3%)

ⓘ 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 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,797
• − Mortgage interest: −$10,083
• − Property taxes: −$1,628
• − Insurance: −$900
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − Depreciation: −$5,236
• Taxable loss: −$377
• Est. tax savings @ 24.0%: +$90
• After-tax cash flow: $2,666/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: Columbia Local
• NCES district ID: 3904814
• Math proficiency: 55% ▼ -22.00%
• Reading proficiency: 71% ▼ -5.00%
• Median HH income: $68,862
• Composite: 55.31/100
• National rank: #1261
• State rank: #211 of 656 in OH

Livability — Olmsted Falls

• Score: 73/100
• State rank: #343
• US rank: #5595

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lorain · 305,041 people
• Metro: Cleveland, OH
• Population (ZIP): 9,313
• Household income: $86,991
• Rent vs Own: 8.9% rent · 91.1% own

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 8% Italian 1% Subsaharan African 1%
• Foreign-born: 3%
• Languages at home: 96% English-only · Arabic 1% Russian/Polish/Slavic 1% 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: ▼ -94.16%
• Current HPI: 223.2008
• 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

3 events — show timeline

• 2026-06-07 Relisted — MLSNOW
• 2026-05-20 Pending — MLSNOW
• 2026-05-15 Listed $180,000 MLSNOW

Property tax history

+1.1%/yr

Latest (2025): $1,628 · -21.0% YoY. Source: county tax records.