1259 E 351 St · Eastlake, OH 44095

$159,900

3 bd · 2.0 ba · 1,332 sqft · SingleFamily public records · 62 Days on market

Built 1930 6,534 sqft lot $120/sqft · 12% below area Est $181k · 12% 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 +21.8/30.0
• ARV discount +12.7/15.0
• DSCR +7.0/10.0
• 1% rule +6.0/10.0
• Schools +4.3/10.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1259 E. 351 — a three-bedroom, two-full-bath master bungalow that blends charm, comfort, and modern convenience. Step inside the inviting enclosed front porch, a bright and versatile space ideal for morning coffee, seasonal décor, or additional lounging. The main level features an open and airy living room enhanced by laminate plank flooring, built-in bookshelves, and a large picture window that fills the home with natural light. Adjacent is the formal dining room, perfect for gatherings and everyday meals, offering seamless flow into the updated kitchen. Here, you’ll find granite countertops, updated cabinetry, and a ceramic tile backsplash that provides a clean, modern finish. The first-floor master suite is a standout feature, offering true one-floor living. This private retreat includes an updated full bathroom with a granite double vanity, ceramic accents, newer fixtures, and a refreshed shower—designed for both style and comfort. Upstairs, two additional bedrooms and a second full bathroom provide excellent flexibility for family, guests, or a dedicated home office. Outside, the fully fenced-in backyard delivers a perfect combination of privacy and function, complete with a tall privacy fence and a spacious deck ideal for outdoor dining, entertaining, or relaxing in warmer months. Central air conditioning ensures year-round comfort, and the home’s thoughtful updates make it truly move-in ready. This home offers exceptional value in a convenient Eastlake location near parks, schools, shopping, and freeway access. A must-see property for buyers seeking space, updates, and comfort at a great price.

Key facts

• Large picture window
• Updated kitchen
• Built-in bookshelves

Tags

• ENCLOSED FRONT PORCH
• LAMINATE PLANK FLOORING
• BUILT-IN BOOKSHELVES
• LARGE PICTURE WINDOW
• UPDATED KITCHEN
• GRANITE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.7% in Eastlake — 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 68/100 on livability (#550 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.
• Willoughby-Eastlake City (suburban): math 42% / reading 58% proficiency, ranked #434 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 132 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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

• It's been on market 62 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 33y 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 $96k; list at $160k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 7.6

CMA / ARV

• ARV (median comp): $180,881
• List price: $159,900
• Delta: -11.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1259 E 351 St	0.00mi	3/2.0	1,332 (0%)	0mo	$145,000	$109	100
1284 E 348th St	0.15mi	3/1.5	1,300 (-2%)	1mo	$243,000	$187	87
1297 E 351st St	0.06mi	3/1.5	1,424 (+7%)	1mo	$225,000	$158	82
1332 E 348th St	0.18mi	3/1.5	1,374 (+3%)	6mo	$180,200	$131	80
988 E 348th St	0.46mi	4/1.5 (+1)	1,352 (+2%)	5mo	$205,000	$152	65
3835 E 364th St	0.49mi	3/2.0	1,409 (+6%)	4mo	$225,000	$160	64
35477 Hobbie Dr	0.60mi	3/2.5	1,270 (-5%)	3mo	$207,500	$163	60
3882 E 365th St	0.52mi	3/3.0	1,423 (+7%)	4mo	$272,500	$191	57
1295 E 357th St	0.25mi	4/3.0 (+1)	1,517 (+14%)	2mo	$270,000	$178	55
36001 Freed Ct	0.61mi	3/2.5	1,192 (-10%)	3mo	$265,000	$222	50
1344 Waverly Rd	0.68mi	3/2.0	1,500 (+13%)	2mo	$112,000	$75	46
1313 Waverly Rd	0.63mi	3/1.0	1,500 (+13%)	2mo	$179,900	$120	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 · 4.81% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-6,756
• Equity at exit: $23,842

10-year hold

• IRR: 7.8%
• Equity multiple: 1.64×
• Total profit: $28,640
• Equity at exit: $13,825

Cash invested: $44,772 (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 44095

• Rents YoY: 4.8%
• Active inventory: 132
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,764 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$240 /mo · $2,879/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $249

Break-even live

Break-even rent $1,449

Max offer price $159,900

Occupancy floor 81%

Sensitivity live

Price	-10% $339	-5% $294	+0% $249	+5% $203	+10% $158
Rent	-10% $109	-5% $179	+0% $249	+5% $318	+10% $388
Rate	-1.0pp $329	-0.5pp $289	base $249	+0.5pp $207	+1.0pp $165

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1323 E 360th St Eastlake, OH	3.0	1.0	1036	$1,599	$1.54	17d	1	0.39mi
360 E 326th St Willowick, OH	2.0	2.0	1053	$1,447	$1.37	3d	1	1.18mi

Listing history 14 events

1. 2026-05-06
   status Pending 1670-char remark

   Show marketing remark (1670 chars)

   Welcome to 1259 E. 351 — a three-bedroom, two-full-bath master bungalow that blends charm, comfort, and modern convenience. Step inside the inviting enclosed front porch, a bright and versatile space ideal for morning coffee, seasonal décor, or additional lounging. The main level features an open and airy living room enhanced by laminate plank flooring, built-in bookshelves, and a large picture window that fills the home with natural light. Adjacent is the formal dining room, perfect for gatherings and everyday meals, offering seamless flow into the updated kitchen. Here, you’ll find granite countertops, updated cabinetry, and a ceramic tile backsplash that provides a clean, modern finish. The first-floor master suite is a standout feature, offering true one-floor living. This private retreat includes an updated full bathroom with a granite double vanity, ceramic accents, newer fixtures, and a refreshed shower—designed for both style and comfort. Upstairs, two additional bedrooms and a second full bathroom provide excellent flexibility for family, guests, or a dedicated home office. Outside, the fully fenced-in backyard delivers a perfect combination of privacy and function, complete with a tall privacy fence and a spacious deck ideal for outdoor dining, entertaining, or relaxing in warmer months. Central air conditioning ensures year-round comfort, and the home’s thoughtful updates make it truly move-in ready. This home offers exceptional value in a convenient Eastlake location near parks, schools, shopping, and freeway access. A must-see property for buyers seeking space, updates, and comfort at a great price.

2. 2026-03-04
   listed $159,900 Active 1670-char remark

   Show marketing remark (1670 chars)

   Welcome to 1259 E. 351 — a three-bedroom, two-full-bath master bungalow that blends charm, comfort, and modern convenience. Step inside the inviting enclosed front porch, a bright and versatile space ideal for morning coffee, seasonal décor, or additional lounging. The main level features an open and airy living room enhanced by laminate plank flooring, built-in bookshelves, and a large picture window that fills the home with natural light. Adjacent is the formal dining room, perfect for gatherings and everyday meals, offering seamless flow into the updated kitchen. Here, you’ll find granite countertops, updated cabinetry, and a ceramic tile backsplash that provides a clean, modern finish. The first-floor master suite is a standout feature, offering true one-floor living. This private retreat includes an updated full bathroom with a granite double vanity, ceramic accents, newer fixtures, and a refreshed shower—designed for both style and comfort. Upstairs, two additional bedrooms and a second full bathroom provide excellent flexibility for family, guests, or a dedicated home office. Outside, the fully fenced-in backyard delivers a perfect combination of privacy and function, complete with a tall privacy fence and a spacious deck ideal for outdoor dining, entertaining, or relaxing in warmer months. Central air conditioning ensures year-round comfort, and the home’s thoughtful updates make it truly move-in ready. This home offers exceptional value in a convenient Eastlake location near parks, schools, shopping, and freeway access. A must-see property for buyers seeking space, updates, and comfort at a great price.

3. 2026-02-02
   status Pending
4. 2026-02-02
   historical
5. 2026-01-05
   price $145,000
6. 2025-11-13
   listed $155,000 Active
7. 1998-06-14
   soldstatus $95,500
8. 1998-05-29
   soldstatus $95,500
9. 1998-05-29
   soldstatus $95,500
10. 1998-04-15
    listed $99,900
11. 1994-02-02
    soldstatus $74,000
12. 1994-01-31
    soldstatus $74,000
13. 1993-12-02
    historical
14. 1993-09-02
    listed $87,900

ⓘ 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: $2,879 · $240/mo
• Projected year-2 tax: $2,879 · $240/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 ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,170
• − Mortgage interest: −$8,957
• − Property taxes: −$2,879
• − Insurance: −$800
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − Depreciation: −$4,652
• Taxable income: $496
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $2,864/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: Willoughby-Eastlake City
• NCES district ID: 3904510
• Math proficiency: 42% ▼ -21.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $52,500
• Composite: 42.96/100
• National rank: #3110
• State rank: #434 of 656 in OH

Livability — Eastlake

• Score: 68/100
• State rank: #550
• US rank: #9388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastlake, OH
• County: Lake County · 204,927 people
• City population: 32,363
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 32,363
• Household income: $71,543
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 590.0

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 (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Russian/Polish/Slavic 3% Spanish 1% German/W. Germanic 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: ▼ -187.78%
• Current HPI: 171.8121
• Rent YoY: ▲ 4.81%
• 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

+81.9% since first listed

14 events — show timeline

• 2026-05-06 Pending — MLSNOW
• 2026-03-04 Listed $159,900 MLSNOW
• 2026-02-02 Pending — MLSNOW
• 2026-02-02 Listing Removed — MLSNOW
• 2026-01-05 Price Changed $145,000 MLSNOW
• 2025-11-13 Listed $155,000 MLSNOW
• 1998-06-14 Sold (MLS) $95,500 MLSNOW
• 1998-05-29 Sold (Public Records) $95,500 Public Records
• 1998-05-29 Sold (Public Records) $95,500 Public Records
• 1998-04-15 Listed $99,900 MLSNOW
• 1994-02-02 Sold (MLS) $74,000 MLSNOW
• 1994-01-31 Sold (Public Records) $74,000 Public Records
• 1993-12-02 Listing Removed — MLSNOW
• 1993-09-02 Listed $87,900 MLSNOW

Property tax history

+2.4%/yr

Latest (2025): $2,879 · -2.2% YoY. Source: county tax records.