6396 Olive Ave · North Ridgeville, OH 44039

$249,900

3 bd · 2.0 ba · 1,682 sqft · SingleFamily public records · 4 Days on market

Built 1992 3,920 sqft lot $149/sqft · at area comps Est $257k · at est.

---

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 +11.7/30.0
• ARV discount +8.7/15.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Outstanding Split W/ Basement, Built In 1992. Original Owner. Newer Roof And Gutters W/ Leaf Guard Sys. 22x18 Professional Deck W/ Lighting. Beautiful Landscaping. 16x10 Wood Storage Barn W/ Electric. Spacious Fam Rm W/ Wood Burner. Great Basement. Expanded Driveway For Extra Parking. Home Warranty.

Key facts

• Laundry area
• Natural light
• Elevated wooden deck

Tags

• OPEN-CONCEPT LAYOUT
• VAULTED CEILINGS
• NATURAL LIGHT
• REAR DECK
• LAUNDRY AREA
• ELEVATED WOODEN DECK

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2 stories; Above-grade finished area approximately 1,680 (source: assessor)
• Construction: Aluminum siding; Asphalt/fiberglass roof
• Exterior features: Deck; Shed(s); Property on a cul-de-sac

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Insulated windows; Partial, unfinished basement; Wood-burning fireplace in the living room
• Laundry & utility: Washer hookup; Dryer hookup (gas); Lower-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-73 ($-875/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (15.6% below list).
• Recommended offer: $211k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.3% in North Ridgeville — 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 74/100 on livability (#305 in OH, #4,924 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• North Ridgeville City (suburban): math 49% / reading 61% proficiency, ranked #339 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 206 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 34y 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.

Recommended offer $211,019 (15.6% 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. 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. 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: 0.84% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 9.9

CMA / ARV

• ARV (median comp): $256,928
• List price: $249,900
• Delta: -2.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6396 Olive Ave	0.00mi	3/2.0	1,680 (-0%)	0mo	$258,000	$154	100
34186 Gail Dr	0.33mi	3/1.5	1,768 (+5%)	2mo	$200,000	$113	73
6280 Eastview Ave	0.54mi	3/1.5	1,668 (-1%)	4mo	$282,800	$170	68
5825 Olive Ave	0.51mi	3/1.5	1,588 (-6%)	1mo	$257,000	$162	64
7044 Pitts Blvd	0.65mi	3/2.5	1,716 (+2%)	2mo	$297,500	$173	63
6171 Ridgeview Blvd	0.59mi	3/1.5	1,602 (-5%)	1mo	$229,000	$143	62
5943 Eastview Ave	0.69mi	3/2.0	1,736 (+3%)	2mo	$287,000	$165	60
4761 James Rd	0.23mi	4/1.5 (+1)	1,472 (-12%)	1mo	$275,000	$187	60
6974 Wil Lou Ln	0.52mi	3/1.5	1,552 (-8%)	1mo	$300,150	$193	60
5922 Albert Ave	0.64mi	3/1.5	1,588 (-6%)	4mo	$159,000	$100	56
6600 Nicoll Dr	0.67mi	3/2.0	1,536 (-9%)	4mo	$265,000	$173	51
5628 Opal St	0.74mi	3/2.0	1,864 (+11%)	4mo	$325,000	$174	44

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-45,097
• Equity at exit: $37,261

10-year hold

• IRR: -10.6%
• Equity multiple: 0.36×
• Total profit: $-45,085
• Equity at exit: $21,607

Cash invested: $69,972 (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 44039

• Active inventory: 206
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,110 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$325 /mo · $3,904/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-73

Break-even live

Break-even rent $2,202

Max offer price $237,025

Occupancy floor 98%

Sensitivity live

Price	-10% $69	-5% $-2	+0% $-73	+5% $-144	+10% $-214
Rent	-10% $-240	-5% $-156	+0% $-73	+5% $10	+10% $94
Rate	-1.0pp $53	-0.5pp $-9	base $-73	+0.5pp $-138	+1.0pp $-204

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6401 Forest Park Dr North Ridgeville, OH	2.0	2.0	1180	$1,900	$1.61	8d	1	0.43mi
5922 Albert Ave North Ridgeville, OH	3.0	1.5	1588	$2,125	$1.34	2d	1	0.65mi
6528 Rosebelle Ave North Ridgeville, OH	3.0	1.0	1200	$2,275	$1.90	20d	1	0.71mi
6610 Lear Nagle Rd #157 North Ridgeville, OH	3.0	2.0	1344	$1,549	$1.15	44d	1	0.79mi
35143 Bainbridge Rd North Ridgeville, OH	3.0	1.0	1096	$1,979	$1.81	5d	1	0.95mi
5498 Broad Blvd North Ridgeville, OH	3.0	1.5	1300	$1,895	$1.46	44d	1	1.12mi

Listing history 9 events

1. 2026-05-11
   status Pending 1989-char remark
2. 2026-05-07
   listed $249,900 Active 1989-char remark
3. 2006-10-30
   soldstatus $150,000 300-char remark

   Show marketing remark (300 chars)

   Outstanding Split W/ Basement, Built In 1992. Original Owner. Newer Roof And Gutters W/ Leaf Guard Sys. 22x18 Professional Deck W/ Lighting. Beautiful Landscaping. 16x10 Wood Storage Barn W/ Electric. Spacious Fam Rm W/ Wood Burner. Great Basement. Expanded Driveway For Extra Parking. Home Warranty.

4. 2006-10-27
   soldstatus $150,000
5. 2006-08-17
   listed $157,900 300-char remark

   Show marketing remark (300 chars)

   Outstanding Split W/ Basement, Built In 1992. Original Owner. Newer Roof And Gutters W/ Leaf Guard Sys. 22x18 Professional Deck W/ Lighting. Beautiful Landscaping. 16x10 Wood Storage Barn W/ Electric. Spacious Fam Rm W/ Wood Burner. Great Basement. Expanded Driveway For Extra Parking. Home Warranty.

6. 1992-06-22
   soldstatus $93,900

   Show marketing remark (116 chars)

   New Home Basement, Fireplace, A/C Prep Outstanding Value. Completed And Ready To Move In Call 1-800-421-5018 To Show

7. 1992-06-19
   soldstatus $93,900
8. 1992-02-26
   listed $93,900

   Show marketing remark (116 chars)

   New Home Basement, Fireplace, A/C Prep Outstanding Value. Completed And Ready To Move In Call 1-800-421-5018 To Show

9. 1989-05-05
   soldstatus $15,000

ⓘ 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: $3,904 · $325/mo
• Projected year-2 tax: $3,904 · $325/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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,322
• − Mortgage interest: −$13,998
• − Property taxes: −$3,904
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − Depreciation: −$7,270
• Taxable loss: −$5,151
• Est. tax savings @ 24.0%: +$1,236
• After-tax cash flow: $362/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: North Ridgeville City
• NCES district ID: 3904453
• Math proficiency: 49% ▼ -21.00%
• Reading proficiency: 61% ▼ -11.00%
• Median HH income: $66,437
• Composite: 48.46/100
• National rank: #2130
• State rank: #339 of 656 in OH

Livability — North Ridgeville

• Score: 74/100
• State rank: #305
• US rank: #4924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Ridgeville, OH
• County: Lorain County · 219,437 people
• City population: 36,780
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 36,780
• Household income: $96,485
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 207.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -160.14%
• Current HPI: 210.6074
• Rent YoY: —
• 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

+1620.0% since first listed

10 events — show timeline

• 2026-06-11 Sold (MLS) $258,000 MLSNOW
• 2026-05-11 Pending — MLSNOW
• 2026-05-07 Listed $249,900 MLSNOW
• 2006-10-30 Sold (MLS) $150,000 MLSNOW
• 2006-10-27 Sold (Public Records) $150,000 Public Records
• 2006-08-17 Listed $157,900 MLSNOW
• 1992-06-22 Sold (MLS) $93,900 MLSNOW
• 1992-06-19 Sold (Public Records) $93,900 Public Records
• 1992-02-26 Listed $93,900 MLSNOW
• 1989-05-05 Sold (Public Records) $15,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $3,904 · -4.3% YoY. Source: county tax records.