2613 Oakdale Ave · Lorain, OH 44055

$120,500

4 bd · 1.5 ba · 1,177 sqft · SingleFamily public records · 6 Days on market

Built 1923 6,098 sqft lot $102/sqft · 7% above area Est $112k · 7% over

---

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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +6.8/10.0
• ARV discount +4.2/15.0
• 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

Listing remarks

Experience urban living at its finest in this beautifully updated home, ideally located across from Central Park. The interior boasts new lighting and flooring, creating a bright and inviting atmosphere. The updated kitchen and bathroom offer modern amenities and stylish finishes. Relax on the charming front porch or entertain guests on the expansive backyard deck. The large backyard provides ample space for outdoor activities and gatherings. Don't miss the opportunity to own this exceptional property!

Key facts

• 6,098 sq ft lot
• Parking
• Built 1923

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Two-story home; Property is attached
• Construction: Vinyl siding; Asphalt/fiberglass roof
• Exterior features: Deck; Porch; Partial fencing; Lot approximately 0.14 acres

Interior

• Bedrooms: One main-level bedroom
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Forced air heating
• Interior features: Recessed lighting; Full unfinished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 9.9% vs local median 5.9% 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: 81 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).
• This rent runs 42% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $833 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 13y 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 $51k; list at $120k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,500

Questions for the listing agent

1. Built in 1923 — 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. 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?
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: 1.18% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.01%
• DSCR: 1.58
• GRM: 7.0

CMA / ARV

• ARV (median comp): $112,327
• List price: $120,500
• Delta: 7.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2349 Kelly Pl	0.21mi	3/1.0 (-1)	1,164 (-1%)	1mo	$110,210	$95	81
504 W 21st St	0.35mi	3/1.0 (-1)	1,174 (-0%)	6mo	$115,000	$98	71
125 E 30th St	0.46mi	3/1.5 (-1)	1,137 (-3%)	2mo	$136,800	$120	66
2731 Lexington Ave	0.13mi	3/1.0 (-1)	1,056 (-10%)	6mo	$60,000	$57	65
2027 Lexington Ave	0.40mi	4/2.0	1,260 (+7%)	4mo	$63,000	$50	64
623 W 24th St	0.13mi	3/2.0 (-1)	1,056 (-10%)	6mo	$140,700	$133	64
3116 Chris Ave	0.46mi	3/1.0 (-1)	1,120 (-5%)	4mo	$170,000	$152	61
1935 Hamilton Ave	0.68mi	3/1.0 (-1)	1,160 (-1%)	3mo	$165,000	$142	56
2623 Elyria Ave	0.52mi	3/1.0 (-1)	1,109 (-6%)	6mo	$55,000	$50	54
213 W 23rd St	0.29mi	3/2.0 (-1)	1,328 (+13%)	5mo	$164,000	$123	54
2606 Oberlin Ave	0.72mi	3/1.0 (-1)	1,239 (+5%)	0mo	$167,000	$135	50
3030 Kay Ave	0.59mi	3/1.0 (-1)	1,269 (+8%)	4mo	$145,000	$114	50

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $3,749
• Equity at exit: $17,967

10-year hold

• IRR: 12.4%
• Equity multiple: 1.98×
• Total profit: $33,174
• Equity at exit: $10,419

Cash invested: $33,740 (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: 81
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,427 high
• Mortgage (P&I): −$632
• Tax from tax record: −$80 /mo · $957/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $366

Break-even live

Break-even rent $964

Max offer price $120,500

Occupancy floor 69%

Sensitivity live

Price	-10% $434	-5% $400	+0% $366	+5% $332	+10% $298
Rent	-10% $253	-5% $309	+0% $366	+5% $422	+10% $479
Rate	-1.0pp $426	-0.5pp $396	base $366	+0.5pp $335	+1.0pp $303

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: $30,125
• Closing costs: $3,615
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	44d	1	0.19mi
944 S Central Dr Lorain, OH	3.0	1.0	950	$1,250	$1.32	24d	1	0.29mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	24d	1	0.36mi
2307 Washington Ave Lorain, OH	1.0–3.0	1.0	880	$1,499	$1.70	2d	1	0.39mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	44d	1	0.40mi
939 W 22nd St Lorain, OH	3.0	1.0	950	$1,295	$1.36	44d	1	0.43mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	44d	1	0.44mi
2550 Elyria Ave Unit 2 Lorain, OH	3.0	1.0	765	$1,200	$1.57	8d	1	0.50mi
3132 Elyria Ave Lorain, OH	3.0	1.5	1109	$1,250	$1.13	44d	1	0.60mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	24d	1	0.62mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	3d	1	0.63mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	44d	1	0.65mi
521 W 14th St Lorain, OH	3.0	1.0	968	$950	$0.98	44d	1	0.72mi
612 E 33rd St Lorain, OH	3.0	1.0	960	$995	$1.04	44d	1	0.79mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	24d	1	0.88mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	5d	1	0.90mi
1053 Washington Ave Unit 4 Lorain, OH	3.0	1.0	1000	$899	$0.90	44d	1	0.96mi
1055 W 12th St Lorain, OH	4.0	1.0	1206	$1,750	$1.45	24d	1	0.96mi
3502 Lowell Ave Lorain, OH	3.0	1.0	788	$1,095	$1.39	2d	1	1.10mi
1712 W 12th St Lorain, OH	3.0	1.0	996	$1,295	$1.30	24d	1	1.41mi
1028 W 5th St Lorain, OH	3.0	2.0	1250	$1,650	$1.32	44d	1	1.43mi
1639 E 31st St Unit 1637 Lorain, OH	3.0	1.0	1500	$1,200	$0.80	44d	1	1.47mi
1223 W 5th St Lorain, OH	3.0	2.0	1152	$1,150	$1.00	13d	1	1.48mi

Listing history 22 events

1. 2026-05-14
   status Pending 507-char remark
2. 2026-05-06
   listed $120,500 Active 507-char remark
3. 2025-11-22
   status Pending
4. 2025-11-21
   historical
5. 2025-11-17
   price $119,000
6. 2025-10-31
   price $125,000
7. 2025-10-21
   price $129,000
8. 2025-09-26
   status Active
9. 2025-09-18
   status Pending
10. 2025-09-11
    price $135,000
11. 2025-08-17
    listed $145,000 Active
12. 2025-08-12
    historical
13. 2025-06-27
    listed $135,000 Active
14. 2025-06-13
    historical
15. 2025-05-06
    historical Contingent
16. 2025-03-20
    listed $145,000 Active
17. 2025-02-28
    historical
18. 2025-02-21
    price $147,500
19. 2024-12-31
    listed $150,000 Active
20. 2020-09-01
    soldstatus $50,700
21. 2013-09-09
    historical
22. 2013-04-08
    listed $13,000

ⓘ 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: $957 · $80/mo
• Projected year-2 tax: $1,418 · $118/mo
• Expected delta: +$461/yr (+$38/mo · 48.2%)

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,129
• − Mortgage interest: −$6,750
• − Property taxes: −$957
• − Insurance: −$602
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − Depreciation: −$3,505
• Taxable income: $2,574
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $3,772/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

+826.9% since first listed

22 events — show timeline

• 2026-05-14 Pending — MLSNOW
• 2026-05-06 Listed $120,500 MLSNOW
• 2025-11-22 Pending — MLSNOW
• 2025-11-21 Listing Removed — MLSNOW
• 2025-11-17 Price Changed $119,000 MLSNOW
• 2025-10-31 Price Changed $125,000 MLSNOW
• 2025-10-21 Price Changed $129,000 MLSNOW
• 2025-09-26 Relisted — MLSNOW
• 2025-09-18 Pending — MLSNOW
• 2025-09-11 Price Changed $135,000 MLSNOW
• 2025-08-17 Listed $145,000 MLSNOW
• 2025-08-12 Listing Removed — MLSNOW
• 2025-06-27 Listed $135,000 MLSNOW
• 2025-06-13 Listing Removed — MLSNOW
• 2025-05-06 Contingent — MLSNOW
• 2025-03-20 Listed $145,000 MLSNOW
• 2025-02-28 Listing Removed — MLSNOW
• 2025-02-21 Price Changed $147,500 MLSNOW
• 2024-12-31 Listed $150,000 MLSNOW
• 2020-09-01 Sold (Public Records) $50,700 Public Records
• 2013-09-09 Listing Removed — MLSNOW
• 2013-04-08 Listed $13,000 MLSNOW

Property tax history

+1.5%/yr

Latest (2025): $957 · -2.5% YoY. Source: county tax records.