2542 Circle Dr · Painesville, OH 44077

$179,000

3 bd · 1.0 ba · 1,508 sqft · SingleFamily public records · 5 Days on market

Built 1959 0.65 ac lot

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Why this score? — see what drove the D 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 +12.8/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• 1% rule +3.9/10.0
• DSCR +3.8/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a little more room to spread out, entertain, pursue hobbies, or simply enjoy time at home- Welcome to a well-maintained 3-bedroom ranch in the Perry Local School District offering a fireplace, bonus room, full basement, detached 2-car garage, and a generous 0.649-acre lot. Life here offers flexibility. The enclosed front porch provides a comfortable place to enjoy a morning coffee or unwind at the end of the day. Inside, the living room fireplace creates a cozy gathering space, while built-in cabinetry in the living and dining rooms adds character and practical storage. Updated bedrooms and bath provide a fresh feel, complemented by central air conditioning and natural gas force

Key facts

• Built-in cabinetry
• 0.649-acre lot
• Bonus room

Tags

• BONUS ROOM
• FULL BASEMENT
• DETACHED 2-CAR GARAGE
• 0.649-ACRE LOT
• ENCLOSED FRONT PORCH
• BUILT-IN CABINETRY

Property features AI

Exterior

• Parking: Detached 2-car garage; Paved driveway
• Utilities: Public water; Public sewer
• Home design: Single-story home; Block foundation; Vinyl siding; Asphalt/fiberglass roof
• Construction: Built per public records (year built source: public records)
• Exterior features: Deck; Enclosed porch; Patio; Porch; Shed(s); Back yard; Front yard; Private, level and mostly flat yard; Irregular lot

Interior

• Kitchen: Laminate counters; Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Tile in bathroom; Laminate in kitchen (counters listed; flooring not specified elsewhere)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced-air heating (gas); Fireplace(s) for supplemental heat — wood-burning in living room; Central air conditioning; Ceiling fans
• Interior features: Built-in bookcases; Primary bedroom on the main floor; Laminate counters
• Laundry & utility: Main-level laundry room; Sump pump in the unfinished full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-16 ($-190/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (10.7% below list).
• Recommended offer: $160k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.3% in Painesville — 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 72/100 on livability (#360 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Perry Local (suburban): math 64% / reading 65% proficiency, ranked #196 of 656 in OH (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Perry Elementary School (math 77% / reading 62%, grade A-, #391 of 1,584 statewide, top 27%, 549 students, 17% FRL); Perry Middle School (math 59% / reading 63%, grade B+, #252 of 654 statewide, top 39%, 461 students, 22% FRL); Perry High School (math 62% / reading 72%, grade B, #137 of 781 statewide, top 19%, 489 students, 14% FRL).
• Market conditions: Rents rising (+3.7%/yr); 275 active listings in the ZIP; solid renter incomes; 448 units permitted in Lake County in 2024 (0 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.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,842 (10.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.42×
• Total profit: $-28,864
• Equity at exit: $26,689

10-year hold

• IRR: -6.5%
• Equity multiple: 0.57×
• Total profit: $-21,650
• Equity at exit: $15,477

Cash invested: $50,120 (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 44077

• Rents YoY: 3.7%
• Active inventory: 275
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,598 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$265 /mo · $3,184/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-16

Break-even live

Break-even rent $1,618

Max offer price $176,203

Occupancy floor 96%

Sensitivity live

Price	-10% $85	-5% $35	+0% $-16	+5% $-66	+10% $-117
Rent	-10% $-142	-5% $-79	+0% $-16	+5% $47	+10% $110
Rate	-1.0pp $74	-0.5pp $30	base $-16	+0.5pp $-62	+1.0pp $-109

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-15
   remarks 699-char remark
2. 2026-06-15
   listed $179,000 Pending 5 DOM

ⓘ 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: $3,184 · $265/mo
• Projected year-2 tax: $3,184 · $265/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 2/10 Low 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,181
• − Mortgage interest: −$10,027
• − Property taxes: −$3,184
• − Insurance: −$895
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$5,207
• Taxable loss: −$3,201
• Est. tax savings @ 24.0%: +$768
• After-tax cash flow: $578/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: Perry Local
• NCES district ID: 3904790
• Math proficiency: 64% ▼ -11.00%
• Reading proficiency: 65% ▼ -8.00%
• Median HH income: $65,056
• Composite: 56.25/100
• National rank: #1174
• State rank: #196 of 656 in OH

Livability — Painesville

• Score: 72/100
• State rank: #360
• US rank: #5785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 204,927 people
• City population: 57,325
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 57,325
• Household income: $85,056
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1333.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.05%
• Current HPI: 181.2976
• Rent YoY: ▲ 3.68%
• 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

2 events — show timeline

• 2026-06-09 Pending — MLSNOW
• 2026-06-04 Listed $179,000 MLSNOW

Property tax history

+4.7%/yr

Latest (2025): $3,184 · +0.1% YoY. Source: county tax records.