131 Kentucky Dr · Elyria, OH 44035

$47,000

3 bd · 2.0 ba · 1,149 sqft · SingleFamily · 26 Days on market

Built 1996

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

Key facts

• Oversized shed
• Small fenced yard
• Newer water heater

Tags

• LARGE OPEN-CONCEPT KITCHEN
• HUGE COVERED PORCH
• SMALL FENCED YARD
• OVERSIZED SHED
• NEWER WATER HEATER
• GAS RANGE

Property features AI

Exterior

• Home design: Built in 1996; Single-family residence
• Construction: Built in 1996
• Exterior features: Located in the Colonial Oaks subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $46k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 4.0% 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: employment D, commute F.
• Midview Local (suburban): math 55% / reading 59% proficiency, ranked #314 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Midview West Elementary School (math 71% / reading 62%, grade B+, #500 of 1,584 statewide, top 32%, 523 students, 46% FRL); Midview Middle School (math 55% / reading 56%, grade B-, #321 of 654 statewide, top 51%, 439 students, 46% FRL); Midview High School (math 37% / reading 67%, grade D+, #343 of 781 statewide, top 47%, 767 students, 43% FRL) — zoned schools average 45% FRL vs 30% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 361 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 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 $325 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $47k implies a 96% gain — meaningful room to come down on a strong offer.

Recommended offer $46,295 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.46% ✓
• Cap rate: 21.35%
• Cash-on-cash: 53.77%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $155,115
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9788 East River Rd	0.65mi	3/1.0	1,115 (-3%)	9mo	$108,000	$97	53
9698 E River Rd	0.72mi	2/1.0 (-1)	1,152 (+0%)	7mo	$130,000	$113	51
10260 E River Rd	0.70mi	3/2.0	1,104 (-4%)	13mo	$205,000	$186	50
631 State St	0.42mi	3/1.0	1,041 (-9%)	13mo	$155,000	$149	50
9964 E River Rd	0.58mi	2/1.0 (-1)	1,084 (-6%)	6mo	$125,000	$115	49
39561 Robert Ln	0.74mi	3/1.0	1,201 (+4%)	10mo	$205,000	$171	46
1398 East	0.59mi	3/1.0	1,212 (+6%)	21mo	$163,500	$135	41
353 S Maple St	0.72mi	3/1.0	1,096 (-5%)	19mo	$106,000	$97	39
39490 Chestnut Ridge Rd	0.67mi	3/1.0	1,284 (+12%)	10mo	$216,000	$168	37
1850 Middle Ave	0.67mi	3/1.0	1,000 (-13%)	13mo	$48,000	$48	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 · 6.74% rent growth · sell at horizon

5-year hold

• IRR: 56.1%
• Equity multiple: 3.62×
• Total profit: $34,474
• Equity at exit: $7,008

10-year hold

• IRR: 62.5%
• Equity multiple: 8.48×
• Total profit: $98,478
• Equity at exit: $4,064

Cash invested: $13,160 (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: 361
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$246
• Tax est. 1.5%: −$59 /mo · $705/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $590

Break-even live

Break-even rent $411

Max offer price $47,000

Occupancy floor 44%

Sensitivity live

Price	-10% $622	-5% $606	+0% $590	+5% $573	+10% $557
Rent	-10% $498	-5% $544	+0% $590	+5% $635	+10% $681
Rate	-1.0pp $613	-0.5pp $602	base $590	+0.5pp $577	+1.0pp $565

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10425 Middle Ave Elyria, OH	3.0–4.0	2.0	1424	$1,159	$0.81	0d	1	0.12mi
780 Oberlin Elyria Rd Apt 4 Elyria, OH	2.0	1.0	850	$975	$1.15	0d	1	0.98mi
1309 Middle Ave Elyria, OH	2.0	1.0	1000	$795	$0.80	46d	1	1.00mi
129 Park Meadow Ln Elyria, OH	1.0–2.0	1.0	729	$1,179	$1.62	0d	1	1.46mi

Listing history 29 events

1. 2026-06-22
   days on market $47,000 Active 26 DOM
2. 2026-06-21
   days on market $47,000 Active 25 DOM
3. 2026-06-18
   days on market $47,000 Active 22 DOM
4. 2026-06-17
   days on market $47,000 Active 21 DOM
5. 2026-06-16
   days on market $47,000 Active 20 DOM
6. 2026-06-16
   price $47,000 Active 19 DOM
7. 2026-06-15
   days on market $48,500 Active 19 DOM
8. 2026-06-13
   days on market $48,500 Active 17 DOM
9. 2026-06-09
   days on market $48,500 Active 13 DOM
10. 2026-06-08
    days on market $48,500 Active 12 DOM
11. 2026-06-07
    days on market $48,500 Active 11 DOM
12. 2026-06-05
    days on market $48,500 Active 8 DOM
13. 2026-06-03
    days on market $48,500 Active 7 DOM
14. 2026-06-02
    days on market $48,500 Active 6 DOM
15. 2026-06-01
    days on market $48,500 Active 5 DOM
16. 2026-05-31
    days on market $48,500 Active 4 DOM
17. 2026-05-28
    price $48,500
18. 2026-05-28
    listed $49,500 Active
19. 2020-06-25
    status Pending 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

20. 2020-06-23
    soldstatus $24,000 Closed 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

21. 2020-05-12
    historical Contingent 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

22. 2020-04-29
    status Active 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

23. 2020-04-29
    historical 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

24. 2020-04-01
    status Active 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

25. 2020-02-27
    historical Contingent 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

26. 2020-02-21
    price $25,000 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

27. 2020-01-15
    price $27,000 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

28. 2019-11-07
    price $31,000 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

29. 2019-10-28
    listed $35,000 Active 665-char remark

    Show marketing remark (665 chars)

    Clean and well maintained 3 bedroom 2 full bath mobile home located in Colonial Oaks. It features an open floor plan and central air. Spacious kitchen has an island with range, and plenty of counter and cabinet space. The master suite features n closet and a master bath. Large 45 gallon HWT is brand new. This lovely home also has a large deck to sit and enjoy as well as a sizable shed. Clean and well kept property that will be a great place to call home. This community provides amenities and family friendly areas for everyone to enjoy which include a club house, playground, and pool. Refrigerator, washer and dryer, and extra deep freezer are all negotiable.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,890
• − Mortgage interest: −$2,633
• − Property taxes: −$705
• − Insurance: −$235
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$1,367
• Taxable income: $6,728
• Est. tax owed @ 24.0%: −$1,615
• After-tax cash flow: $5,461/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: Midview Local
• NCES district ID: 3904817
• Math proficiency: 55% ▼ -17.00%
• Reading proficiency: 59% ▼ -13.00%
• Median HH income: $61,808
• Composite: 49.71/100
• National rank: #1966
• State rank: #314 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

+38.6% since first listed

13 events — show timeline

• 2026-05-28 Price Changed $48,500 FSBO.com
• 2026-05-28 Listed $49,500 FSBO.com
• 2020-06-25 Pending — MLSNOW
• 2020-06-23 Sold (MLS) $24,000 MLSNOW
• 2020-05-12 Contingent — MLSNOW
• 2020-04-29 Relisted — MLSNOW
• 2020-04-29 Listing Removed — MLSNOW
• 2020-04-01 Relisted — MLSNOW
• 2020-02-27 Contingent — MLSNOW
• 2020-02-21 Price Changed $25,000 MLSNOW
• 2020-01-15 Price Changed $27,000 MLSNOW
• 2019-11-07 Price Changed $31,000 MLSNOW
• 2019-10-28 Listed $35,000 MLSNOW