115 Riverdale Ct · Elyria, OH 44035

$94,500

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 8 Days on market

Built 1900 5,227 sqft lot Est $134k · 30% 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +6.2/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Key facts

• 5,227 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Cap rate 8.0% 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.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.7%/yr); 356 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $653 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $26k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 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 $94,500

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $134,406
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Brooklyn St	0.13mi	2/1.5 (-1)	1,077 (+5%)	10mo	$187,500	$174	71
241 8th St	0.25mi	2/1.0 (-1)	1,104 (+8%)	2mo	$90,000	$82	70
113 Lincoln Ct	0.43mi	3/2.0	1,022 (-0%)	12mo	$133,500	$131	66
325 15th St	0.57mi	3/1.0	1,012 (-1%)	7mo	$133,000	$131	65
120 Grant St	0.34mi	3/1.0	972 (-5%)	13mo	$155,000	$159	64
254 5th St	0.37mi	4/2.0 (+1)	970 (-6%)	1mo	$100,000	$103	64
210 E 15th St	0.50mi	3/1.5	1,117 (+9%)	2mo	$130,000	$116	59
345 Princeton Ave	0.57mi	3/1.5	1,041 (+2%)	16mo	$135,000	$130	56
211 Harvard Ave	0.29mi	3/1.0	1,165 (+14%)	11mo	$180,000	$155	54
327 8th St	0.38mi	3/1.0	1,155 (+13%)	12mo	$65,000	$56	51
480 10th St	0.68mi	3/1.0	1,087 (+6%)	9mo	$129,900	$120	51
426 11th St	0.58mi	4/1.5 (+1)	1,147 (+12%)	6mo	$152,000	$133	42

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 · 6.74% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-2,413
• Equity at exit: $14,090

10-year hold

• IRR: 11.3%
• Equity multiple: 2.04×
• Total profit: $27,615
• Equity at exit: $8,171

Cash invested: $26,460 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,058 high
• Mortgage (P&I): −$496
• Tax from tax record: −$164 /mo · $1,962/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $137

Break-even live

Break-even rent $884

Max offer price $94,500

Occupancy floor 82%

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1309 Middle Ave Elyria, OH	2.0	1.0	1000	$795	$0.80	43d	1	0.52mi
116 Water St Elyria, OH	2.0	1.0	888	$1,100	$1.24	23d	1	0.89mi
334 Washington Ave Unit 102F Elyria, OH	2.0	1.0	750	$895	$1.19	21d	1	1.03mi
129 Park Meadow Ln Elyria, OH	1.0–2.0	1.0	729	$1,179	$1.62	1d	1	1.17mi
630 Abbe Rd S Unit 3 Elyria, OH	2.0	1.0	830	$1,025	$1.23	1d	1	1.25mi
630 Abbe Rd S Unit 23 Elyria, OH	2.0	1.0	830	$1,050	$1.27	43d	1	1.26mi
138 Mendel Ct #1 Elyria, OH	2.0	1.0	700	$750	$1.07	14d	1	1.30mi
10425 Middle Ave Elyria, OH	3.0–4.0	2.0	1424	$1,209	$0.85	1d	1	1.37mi

Listing history 2 events

1. 2026-05-07
   status Pending
2. 2026-04-27
   listed $94,500 Active

ⓘ 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: $1,962 · $164/mo
• Projected year-2 tax: $1,962 · $164/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 ≥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: $12,691
• − Mortgage interest: −$5,293
• − Property taxes: −$1,962
• − Insurance: −$472
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$2,749
• Taxable income: $183
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $1,600/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: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 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

2 events — show timeline

• 2026-05-07 Pending — MLSNOW
• 2026-04-27 Listed $94,500 MLSNOW

Property tax history

+3.4%/yr

Latest (2025): $1,962 · -0.5% YoY. Source: county tax records.