268 Twin Lks · Elyria, OH 44035

$42,900

3 bd · 2.0 ba · 1,200 sqft · Manufactured · 209 Days on market

Built 2013 $36/sqft · 73% above area ↓ 12% since listing

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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 +5.3/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful & Ready to move-into this 3 Bedroom 2 Full Bath 2013 Ranch offering an OPEN CONCEPT eat-in-kitchen, Dining-Living room Combo! Bright explains this updated EASY, ONE-FLOOR LIVING COMFORT! Master Bedroom, walk in closet Master Bath w/ walk out porch area. 2 More nicely sized bedrooms and another full bath. Laundry/Mechanical area. Floors updated with linoleum, LVT and Carpet in Bedrooms. Outside to the massive front porch, w pergola. Storage Shed out back, partial fenced in yard~must see to appreciate! Located in 55+ Adult Gated Community, w Clubhouse, Fitness Center, Firepit area, dog park, horseshoes and Bocce ball, ponds, pickleball, fishing, bingo nights & potluck dinners, just o much to offer! On-sight management office. Square Feet is estimated and not guaranteed. This unit can be moved from this property to your land too.

Key facts

• Clubhouse
• Storage shed
• Walk in closet

Tags

• OPEN CONCEPT EAT-IN-KITCHEN
• WALK IN CLOSET
• MASSIVE FRONT PORCH
• STORAGE SHED
• PARTIAL FENCED IN YARD
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $43k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Recommended offer: $38k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.9% vs local median 3.8% in Elyria — 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 75/100 on livability (#243 in OH, #3,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, employment D, commute F.
• Keystone Local (rural): math 55% / reading 67% proficiency, ranked #249 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.7%/yr); 356 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $297 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 34y ago; this cycle's ask has dropped $12k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $37,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.52% ✓
• Cap rate: 21.90%
• Cash-on-cash: 55.75%
• DSCR: 3.48
• GRM: 3.3

CMA / ARV

• ARV (median comp): $24,777
• List price: $42,900
• Delta: 73.15%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.74% rent growth · sell at horizon

5-year hold

• IRR: 58.3%
• Equity multiple: 3.73×
• Total profit: $32,833
• Equity at exit: $6,397

10-year hold

• IRR: 64.5%
• Equity multiple: 8.75×
• Total profit: $93,145
• Equity at exit: $3,709

Cash invested: $12,012 (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 44035

• Rents YoY: 6.7%
• Active inventory: 356
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,082 high
• Mortgage (P&I): −$225
• Tax est. 1.5%: −$54 /mo · $644/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $558

Break-even live

Break-even rent $375

Max offer price $42,900

Occupancy floor 43%

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: $10,725
• Closing costs: $1,287
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 Cedar Brook Dr Elyria, OH	3.0	2.0	924	$1,150	$1.24	1d	1	0.25mi
1891 Turner Blvd Elyria, OH	2.0	1.0	700	$875	$1.25	3d	1	0.87mi
1891 Turner Blvd Unit H Elyria, OH	2.0	1.0	700	$875	$1.25	7d	1	0.87mi
1875 Turner Blvd Unit D Elyria, OH	2.0	1.0	700	$850	$1.21	43d	1	0.87mi
1875 Turner Blvd Elyria, OH	2.0	1.0	700	$840	$1.20	1d	1	0.87mi
1877 Turner Blvd Elyria, OH	2.0	1.0	700	$850	$1.21	1d	1	0.89mi

Listing history 17 events

1. 2026-06-18
   days on market $42,900 Active 209 DOM
2. 2026-06-17
   days on market $42,900 Active 208 DOM
3. 2026-06-16
   days on market $42,900 Active 207 DOM
4. 2026-06-15
   status $42,900 Active 206 DOM
5. 2026-04-17
   price $42,900 860-char remark

   Show marketing remark (860 chars)

   Beautiful & Ready to move-into this 3 Bedroom 2 Full Bath 2013 Ranch offering an OPEN CONCEPT eat-in-kitchen, Dining-Living room Combo! Bright explains this updated EASY, ONE-FLOOR LIVING COMFORT! Master Bedroom, walk in closet Master Bath w/ walk out porch area. 2 More nicely sized bedrooms and another full bath. Laundry/Mechanical area. Floors updated with linoleum, LVT and Carpet in Bedrooms. Outside to the massive front porch, w pergola. Storage Shed out back, partial fenced in yard~must see to appreciate! Located in 55+ Adult Gated Community, w Clubhouse, Fitness Center, Firepit area, dog park, horseshoes and Bocce ball, ponds, pickleball, fishing, bingo nights & potluck dinners, just o much to offer! On-sight management office. Square Feet is estimated and not guaranteed. This unit can be moved from this property to your land too.

6. 2026-03-05
   price $44,900 860-char remark

   Show marketing remark (860 chars)

   Beautiful & Ready to move-into this 3 Bedroom 2 Full Bath 2013 Ranch offering an OPEN CONCEPT eat-in-kitchen, Dining-Living room Combo! Bright explains this updated EASY, ONE-FLOOR LIVING COMFORT! Master Bedroom, walk in closet Master Bath w/ walk out porch area. 2 More nicely sized bedrooms and another full bath. Laundry/Mechanical area. Floors updated with linoleum, LVT and Carpet in Bedrooms. Outside to the massive front porch, w pergola. Storage Shed out back, partial fenced in yard~must see to appreciate! Located in 55+ Adult Gated Community, w Clubhouse, Fitness Center, Firepit area, dog park, horseshoes and Bocce ball, ponds, pickleball, fishing, bingo nights & potluck dinners, just o much to offer! On-sight management office. Square Feet is estimated and not guaranteed. This unit can be moved from this property to your land too.

7. 2025-12-18
   price $49,900 860-char remark

   Show marketing remark (860 chars)

   Beautiful & Ready to move-into this 3 Bedroom 2 Full Bath 2013 Ranch offering an OPEN CONCEPT eat-in-kitchen, Dining-Living room Combo! Bright explains this updated EASY, ONE-FLOOR LIVING COMFORT! Master Bedroom, walk in closet Master Bath w/ walk out porch area. 2 More nicely sized bedrooms and another full bath. Laundry/Mechanical area. Floors updated with linoleum, LVT and Carpet in Bedrooms. Outside to the massive front porch, w pergola. Storage Shed out back, partial fenced in yard~must see to appreciate! Located in 55+ Adult Gated Community, w Clubhouse, Fitness Center, Firepit area, dog park, horseshoes and Bocce ball, ponds, pickleball, fishing, bingo nights & potluck dinners, just o much to offer! On-sight management office. Square Feet is estimated and not guaranteed. This unit can be moved from this property to your land too.

8. 2025-10-31
   listed $54,900 Active 860-char remark

   Show marketing remark (860 chars)

   Beautiful & Ready to move-into this 3 Bedroom 2 Full Bath 2013 Ranch offering an OPEN CONCEPT eat-in-kitchen, Dining-Living room Combo! Bright explains this updated EASY, ONE-FLOOR LIVING COMFORT! Master Bedroom, walk in closet Master Bath w/ walk out porch area. 2 More nicely sized bedrooms and another full bath. Laundry/Mechanical area. Floors updated with linoleum, LVT and Carpet in Bedrooms. Outside to the massive front porch, w pergola. Storage Shed out back, partial fenced in yard~must see to appreciate! Located in 55+ Adult Gated Community, w Clubhouse, Fitness Center, Firepit area, dog park, horseshoes and Bocce ball, ponds, pickleball, fishing, bingo nights & potluck dinners, just o much to offer! On-sight management office. Square Feet is estimated and not guaranteed. This unit can be moved from this property to your land too.

9. 1994-05-13
   soldstatus $30,000 76-char remark

   Show marketing remark (76 chars)

   8 X 10 Storage Shed Note * * 5% Buyers Bonus: $1000 Towards Closing Costs

10. 1994-04-03
    historical 76-char remark

    Show marketing remark (76 chars)

    8 X 10 Storage Shed Note * * 5% Buyers Bonus: $1000 Towards Closing Costs

11. 1994-01-04
    listed $32,900 76-char remark

    Show marketing remark (76 chars)

    8 X 10 Storage Shed Note * * 5% Buyers Bonus: $1000 Towards Closing Costs

12. 1993-12-14
    historical
13. 1993-08-11
    listed $34,900
14. 1993-05-19
    historical
15. 1993-02-19
    listed $44,900
16. 1992-11-25
    historical
17. 1992-08-25
    listed $48,900

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,981
• − Mortgage interest: −$2,403
• − Property taxes: −$644
• − Insurance: −$214
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$1,248
• Taxable income: $6,395
• Est. tax owed @ 24.0%: −$1,535
• After-tax cash flow: $5,162/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: Keystone Local
• NCES district ID: 3904816
• Math proficiency: 55% ▼ -16.00%
• Reading proficiency: 67% ▼ -11.00%
• Median HH income: $64,696
• Composite: 53.27/100
• National rank: #1493
• State rank: #249 of 656 in OH

Livability — Elyria

• Score: 75/100
• State rank: #243
• US rank: #3869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elyria, OH
• County: Lorain County · 219,437 people
• City population: 62,179
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 62,179
• Household income: $56,408
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2229.0

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 (70%)
• Race & ethnicity: White 70% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 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: ▼ -139.09%
• Current HPI: 199.7354
• Rent YoY: ▲ 6.74%
• 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

-12.3% since first listed

13 events — show timeline

• 2026-04-17 Price Changed $42,900 MLSNOW
• 2026-03-05 Price Changed $44,900 MLSNOW
• 2025-12-18 Price Changed $49,900 MLSNOW
• 2025-10-31 Listed $54,900 MLSNOW
• 1994-05-13 Sold (MLS) $30,000 MLSNOW
• 1994-04-03 Listing Removed — MLSNOW
• 1994-01-04 Listed $32,900 MLSNOW
• 1993-12-14 Listing Removed — MLSNOW
• 1993-08-11 Listed $34,900 MLSNOW
• 1993-05-19 Listing Removed — MLSNOW
• 1993-02-19 Listed $44,900 MLSNOW
• 1992-11-25 Listing Removed — MLSNOW
• 1992-08-25 Listed $48,900 MLSNOW