2228 E 30th St · Lorain, OH 44055

$125,000

4 bd · 3.0 ba · 1,836 sqft · MultiFamily public records · 55 Days on market

Built 1900 6,969 sqft lot Est $135k · 7% 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 +30.0/30.0
• ARV discount +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Solid investment opportunity with built-in income! This duplex offers two occupied units, each with 3 bedrooms and 1 full bathroom. A great option for investors looking to add to their portfolio, or for buyers who want to live in one unit while renting the other to help pay the mortgage.

Key facts

• 6,969 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $905 ($11k/yr) — positive. Per door: $452/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 5.7% in Lorain — 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 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities D, health & safety D.
• Lorain City (suburban): math 13% / reading 26% proficiency, ranked #633 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• At $2,233/mo this rent would consume 66% of the median local household income ($41k/yr) (locally 1140% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 $72k; list at $125k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.79% ✓
• Cap rate: 14.98%
• Cash-on-cash: 31.02%
• DSCR: 2.38
• GRM: 4.7

CMA / ARV

• ARV (median comp): $134,672
• List price: $125,000
• Delta: -7.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2374 E 37th St	0.48mi	4/2.0	1,792 (-2%)	6mo	$145,000	$81	65
2323/2325 Homewood Dr	0.50mi	4/2.0	1,792 (-2%)	4mo	$135,000	$75	65
2315/2317 Homewood Dr	0.50mi	4/2.0	1,792 (-2%)	6mo	$125,000	$70	63
3934 Gary Ave	0.59mi	4/2.0	1,792 (-2%)	2mo	$140,000	$78	62
3756 Palm Ave	0.51mi	4/2.0	1,792 (-2%)	11mo	$120,000	$67	59
3884 Gary Ave	0.56mi	4/2.0	1,792 (-2%)	9mo	$145,000	$81	58
2224 E 31st St	0.09mi	3/2.0 (-1)	1,569 (-14%)	18mo	$100,000	$64	47
1923 E 34th St	0.70mi	4/2.0	1,680 (-8%)	21mo	$145,000	$86	32

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: 25.8%
• Equity multiple: 2.07×
• Total profit: $37,391
• Equity at exit: $18,638

10-year hold

• IRR: 33.5%
• Equity multiple: 4.05×
• Total profit: $106,875
• Equity at exit: $10,808

Cash invested: $35,000 (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 44055

• Home prices YoY: -30.5%
• Active inventory: 84
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,233 high
• Mortgage (P&I): −$656
• Tax from tax record: −$152 /mo · $1,822/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $905

Break-even live

Break-even rent $1,088

Max offer price $125,000

Occupancy floor 54%

Sensitivity live

Price	-10% $975	-5% $940	+0% $905	+5% $869	+10% $834
Rent	-10% $728	-5% $816	+0% $905	+5% $993	+10% $1,081
Rate	-1.0pp $968	-0.5pp $936	base $905	+0.5pp $872	+1.0pp $839

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,232
Total (2 units)			$2,233

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1813 E 30th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	45d	1	0.93mi
1763 E 36th St Lorain, OH	5.0	1.5	2000	$1,895	$0.95	3d	1	1.09mi
1639 E 31st St Unit 1637 Lorain, OH	3.0	1.0	1500	$1,200	$0.80	45d	1	1.36mi

Listing history 29 events

1. 2026-06-18
   status $125,000 Pending 55 DOM
2. 2026-06-18
   days on market $125,000 Contingent 55 DOM
3. 2026-06-17
   days on market $125,000 Contingent 54 DOM
4. 2026-06-16
   days on market $125,000 Contingent 53 DOM
5. 2026-06-15
   days on market $125,000 Contingent 52 DOM
6. 2026-06-13
   days on market $125,000 Contingent 50 DOM
7. 2026-06-13
   statusdays on market $125,000 Contingent 49 DOM
8. 2026-06-09
   days on market $125,000 Active 46 DOM
9. 2026-06-08
   days on market $125,000 Active 45 DOM
10. 2026-06-07
    days on market $125,000 Active 44 DOM
11. 2026-06-03
    days on market $125,000 Active 40 DOM
12. 2026-06-02
    days on market $125,000 Active 39 DOM
13. 2026-06-02
    remarks 308-char remark
14. 2026-06-01
    days on market $125,000 Active 38 DOM
15. 2026-05-31
    days on market $125,000 Active 37 DOM
16. 2026-04-30
    status Active 288-char remark

    Show marketing remark (288 chars)

    Solid investment opportunity with built-in income! This duplex offers two occupied units, each with 3 bedrooms and 1 full bathroom. A great option for investors looking to add to their portfolio, or for buyers who want to live in one unit while renting the other to help pay the mortgage.

17. 2026-04-06
    status Pending 288-char remark

    Show marketing remark (288 chars)

    Solid investment opportunity with built-in income! This duplex offers two occupied units, each with 3 bedrooms and 1 full bathroom. A great option for investors looking to add to their portfolio, or for buyers who want to live in one unit while renting the other to help pay the mortgage.

18. 2026-03-31
    listed $125,000 Active 288-char remark

    Show marketing remark (288 chars)

    Solid investment opportunity with built-in income! This duplex offers two occupied units, each with 3 bedrooms and 1 full bathroom. A great option for investors looking to add to their portfolio, or for buyers who want to live in one unit while renting the other to help pay the mortgage.

19. 2021-12-02
    soldstatus $72,000
20. 2020-05-13
    historical
21. 2020-04-13
    status Active
22. 2020-04-09
    historical
23. 2020-01-09
    status Active
24. 2020-01-09
    price $69,000
25. 2020-01-08
    historical
26. 2019-07-08
    listed $79,900 Active
27. 2008-05-12
    historical
28. 2007-08-11
    listed $89,900
29. 2004-07-28
    soldstatus $76,000

ⓘ 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: $1,822 · $152/mo
• Projected year-2 tax: $1,886 · $157/mo
• Expected delta: +$64/yr (+$5/mo · 3.5%)

ⓘ 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 ≥97°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: $26,796
• − Mortgage interest: −$7,002
• − Property taxes: −$1,822
• − Insurance: −$625
• − Repairs & maintenance: −$2,144
• − Management: −$2,144
• − Depreciation: −$3,636
• Taxable income: $9,423
• Est. tax owed @ 24.0%: −$2,262
• After-tax cash flow: $8,594/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: Lorain City
• NCES district ID: 3904426
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $32,823
• Composite: 15.81/100
• National rank: #9266
• State rank: #633 of 656 in OH

Livability — Lorain

• Score: 67/100
• State rank: #595
• US rank: #10183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lorain, OH
• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 20,043
• Household income: $40,636
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1140.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 24% Black 14%
• Hispanic origin (detail): Mexican 7% Puerto Rican 27%
• Common ancestry: Romanian 5% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala
• Languages at home: 75% English-only · Spanish 23%

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: ▼ -79.26%
• Current HPI: 180.9309
• 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

+64.5% since first listed

14 events — show timeline

• 2026-04-30 Relisted — MLSNOW
• 2026-04-06 Pending — MLSNOW
• 2026-03-31 Listed $125,000 MLSNOW
• 2021-12-02 Sold (Public Records) $72,000 Public Records
• 2020-05-13 Listing Removed — MLSNOW
• 2020-04-13 Relisted — MLSNOW
• 2020-04-09 Listing Removed — MLSNOW
• 2020-01-09 Relisted — MLSNOW
• 2020-01-09 Price Changed $69,000 MLSNOW
• 2020-01-08 Listing Removed — MLSNOW
• 2019-07-08 Listed $79,900 MLSNOW
• 2008-05-12 Listing Removed — MLSNOW
• 2007-08-11 Listed $89,900 MLSNOW
• 2004-07-28 Sold (Public Records) $76,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,822 · -4.9% YoY. Source: county tax records.