232 Parkland Blvd · Vermilion, OH 44089

$145,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 52 Days on market

Built 1967 6,098 sqft lot $168/sqft · 13% below area Est $166k · 13% under

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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 +24.4/30.0
• ARV discount +13.1/15.0
• DSCR +7.9/10.0
• 1% rule +6.1/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy One-Level Living! Charming Ranch in the desirable Lakeside community of Vermilion, just minutes from Lake Erie. This home features convenient one-floor living with a bright layout, spacious living area, and comfortable bedrooms. For added Efficiency and peace of mind, Recent updates and Improvements include a Furnace and Central A/C installed in 2023. Enjoy the benefits of Ranch-style living with a manageable, fully fenced backyard—perfect for pets, gardening, or hosting summer get-togethers after a day by the lake. Whether you're looking for a primary residence, a downsizing opportunity, or a weekend retreat near the water, this home checks all the boxes. A great opportunity to enjoy easy living near the lake. Schedule your showing today!

Key facts

• Recent updates
• One level living
• Fenced backyard

Tags

• ONE LEVEL LIVING
• RANCH IN LAKESIDE COMMUNITY
• FENCED BACKYARD
• RECENT UPDATES
• FURNACE AND CENTRAL A/C

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.0% in Vermilion — 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 81/100 on livability (#96 in OH, #1,481 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Vermilion Local (suburban): math 56% / reading 60% proficiency, ranked #316 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 142 active listings in the ZIP; 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y 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.
• Current owner paid $80k; list at $145k implies a 81% gain — meaningful room to come down on a strong offer.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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. Schools are B-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?
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: 1.11% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.68%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

• ARV (median comp): $165,750
• List price: $145,000
• Delta: -12.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
232 Parkland Blvd	0.00mi	2/1.0	864 (0%)	0mo	$140,000	$162	100
304 Parkland Blvd	0.07mi	2/2.0	912 (+6%)	1mo	$167,000	$183	82
206 Fairfax Rd	0.10mi	1/1.0 (-1)	940 (+9%)	1mo	$164,500	$175	75
387 Harcourt Rd	0.23mi	3/1.0 (+1)	912 (+6%)	2mo	$209,900	$230	73
236 Devonshire Rd	0.17mi	3/1.0 (+1)	936 (+8%)	9mo	$180,000	$192	66
218 Roxboro Rd	0.05mi	3/1.0 (+1)	736 (-15%)	4mo	$160,000	$217	65
279 Kensington Rd	0.49mi	3/1.0 (+1)	884 (+2%)	6mo	$110,000	$124	63
321 Overlook Rd	0.29mi	3/1.0 (+1)	912 (+6%)	11mo	$116,000	$127	63
278 Mornington Rd	0.35mi	3/1.0 (+1)	884 (+2%)	17mo	$140,450	$159	61
281 Overlook Rd	0.28mi	2/1.0	978 (+13%)	8mo	$169,700	$174	58
285 Devonshire Rd	0.20mi	3/1.0 (+1)	794 (-8%)	18mo	$125,000	$157	58

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,790
• Equity at exit: $21,620

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $19,950
• Equity at exit: $12,537

Cash invested: $40,600 (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 44089

• Active inventory: 142
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,614 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$161 /mo · $1,933/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $294

Break-even live

Break-even rent $1,243

Max offer price $145,000

Occupancy floor 77%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-05-06
   historical Contingent 764-char remark

   Show marketing remark (764 chars)

   Enjoy One-Level Living! Charming Ranch in the desirable Lakeside community of Vermilion, just minutes from Lake Erie. This home features convenient one-floor living with a bright layout, spacious living area, and comfortable bedrooms. For added Efficiency and peace of mind, Recent updates and Improvements include a Furnace and Central A/C installed in 2023. Enjoy the benefits of Ranch-style living with a manageable, fully fenced backyard—perfect for pets, gardening, or hosting summer get-togethers after a day by the lake. Whether you're looking for a primary residence, a downsizing opportunity, or a weekend retreat near the water, this home checks all the boxes. A great opportunity to enjoy easy living near the lake. Schedule your showing today!

2. 2026-04-24
   price $145,000 764-char remark

   Show marketing remark (764 chars)

   Enjoy One-Level Living! Charming Ranch in the desirable Lakeside community of Vermilion, just minutes from Lake Erie. This home features convenient one-floor living with a bright layout, spacious living area, and comfortable bedrooms. For added Efficiency and peace of mind, Recent updates and Improvements include a Furnace and Central A/C installed in 2023. Enjoy the benefits of Ranch-style living with a manageable, fully fenced backyard—perfect for pets, gardening, or hosting summer get-togethers after a day by the lake. Whether you're looking for a primary residence, a downsizing opportunity, or a weekend retreat near the water, this home checks all the boxes. A great opportunity to enjoy easy living near the lake. Schedule your showing today!

3. 2026-03-28
   listed $150,000 Active 764-char remark

   Show marketing remark (764 chars)

   Enjoy One-Level Living! Charming Ranch in the desirable Lakeside community of Vermilion, just minutes from Lake Erie. This home features convenient one-floor living with a bright layout, spacious living area, and comfortable bedrooms. For added Efficiency and peace of mind, Recent updates and Improvements include a Furnace and Central A/C installed in 2023. Enjoy the benefits of Ranch-style living with a manageable, fully fenced backyard—perfect for pets, gardening, or hosting summer get-togethers after a day by the lake. Whether you're looking for a primary residence, a downsizing opportunity, or a weekend retreat near the water, this home checks all the boxes. A great opportunity to enjoy easy living near the lake. Schedule your showing today!

4. 2020-11-04
   price $74,900
5. 2020-08-26
   price $74,900
6. 2019-04-30
   soldstatus $79,900 Sold
7. 2019-04-30
   soldstatus $79,900
8. 2019-04-30
   soldstatus $79,900
9. 2019-04-30
   soldstatus $79,900
10. 2019-04-01
    status Pending
11. 2019-03-18
    listed $79,900
12. 2019-03-18
    listed $79,900
13. 2019-03-16
    listed $79,900 Active
14. 2002-12-31
    historical
15. 2001-08-06
    listed $94,500
16. 2000-04-12
    soldstatus $70,000
17. 1999-08-02
    price $94,500
18. 1999-08-02
    price $94,500
19. 1986-12-05
    soldstatus $32,500

ⓘ 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: $1,933 · $161/mo
• Projected year-2 tax: $2,098 · $175/mo
• Expected delta: +$164/yr (+$14/mo · 8.5%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,373
• − Mortgage interest: −$8,122
• − Property taxes: −$1,933
• − Insurance: −$725
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − Depreciation: −$4,218
• Taxable income: $1,275
• Est. tax owed @ 24.0%: −$306
• After-tax cash flow: $3,216/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: Vermilion Local
• NCES district ID: 3904682
• Math proficiency: 56% ▼ -13.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $52,091
• Composite: 49.61/100
• National rank: #1981
• State rank: #316 of 656 in OH

Livability — Vermilion

• Score: 81/100
• State rank: #96
• US rank: #1481

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vermilion, OH
• County: Erie · 78,232 people
• Metro: Sandusky, OH
• Population (ZIP): 15,873
• Household income: $72,045
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 5.8

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% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 7% Lithuanian 4% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · 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: ▼ -122.76%
• Current HPI: 206.8223
• 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

+346.2% since first listed

19 events — show timeline

• 2026-05-06 Contingent — MLSNOW
• 2026-04-24 Price Changed $145,000 MLSNOW
• 2026-03-28 Listed $150,000 MLSNOW
• 2020-11-04 Price Changed $74,900 MLSNOW
• 2020-08-26 Price Changed $74,900 MLSNOW
• 2019-04-30 Sold (Public Records) $79,900 Public Records
• 2019-04-30 Sold (MLS) $79,900 ABOR
• 2019-04-30 Sold (MLS) $79,900 MARMLS
• 2019-04-30 Sold (MLS) $79,900 MLSNOW
• 2019-04-01 Pending — MLSNOW
• 2019-03-18 Listed $79,900 ABOR
• 2019-03-18 Listed $79,900 MARMLS
• 2019-03-16 Listed $79,900 MLSNOW
• 2002-12-31 Listing Removed — MLSNOW
• 2001-08-06 Listed $94,500 MLSNOW
• 2000-04-12 Sold (Public Records) $70,000 Public Records
• 1999-08-02 Price Changed $94,500 MLSNOW
• 1999-08-02 Price Changed $94,500 MLSNOW
• 1986-12-05 Sold (Public Records) $32,500 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,933 · -2.2% YoY. Source: county tax records.