424 Woodstock Rd · Eastlake, OH 44095

$169,000

2 bd · 1.0 ba · 1,468 sqft · SingleFamily public records · 3 Days on market

Built 1920 0.30 ac lot Est $194k · 13% under

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Why this score? — see what drove the D+ 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 +14.2/30.0
• ARV discount +13.3/15.0
• 1% rule +4.3/10.0
• DSCR +4.3/10.0
• 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

Location! Location! Location! Conveniently located walking distance to the lake!. If you are a buyer looking for instant equity, This is a great opportunity. Dont Rent! Create your own Real Estate Wealth! This home has so much potential. 2 bedroom; 1 full bath, with a bonus room for an office. The home is freshly renovated and ready to move in. It features vaulted ceilings and a large fenced back yard.

Key facts

• Open floor plan
• Breakfast island
• Newer flooring

Tags

• OPEN FLOOR PLAN
• VAULTED CEILINGS
• WOOD BURNING FIREPLACE
• NEWER FLOORING
• EAT IN KITCHEN
• BREAKFAST ISLAND

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $28 ($335/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (6.8% below list).
• Recommended offer: $158k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Royalview Elementary School (math 55% / reading 52%, grade C, #834 of 1,584 statewide, top 53%, 703 students, 44% FRL); Willowick Middle School (math 35% / reading 57%, grade D+, #464 of 654 statewide, top 71%, 455 students, 48% FRL); North High School (math 19% / reading 67%, grade F, #494 of 781 statewide, top 63%, 1,216 students, 38% FRL).
• Market conditions: Rents rising fast (+4.8%/yr); 132 active listings in the ZIP; 1 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 35y 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 $138k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,537 (6.8% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.93% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $193,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
424 Woodstock Rd	0.00mi	3/1.0 (+1)	1,468 (0%)	1mo	$180,500	$123	94
493 E 331st St	0.25mi	3/1.5 (+1)	1,492 (+2%)	6mo	$130,000	$87	73
336 Waverly Rd	0.12mi	3/1.5 (+1)	1,350 (-8%)	3mo	$192,500	$143	71
33510 Lake Shore Blvd	0.10mi	3/2.0 (+1)	1,658 (+13%)	1mo	$325,000	$196	64
352 E 328th St	0.51mi	3/2.5 (+1)	1,461 (-0%)	2mo	$239,000	$164	63
531 E 331st St	0.26mi	3/1.0 (+1)	1,638 (+12%)	2mo	$154,000	$94	62
701 E 332nd St	0.24mi	3/1.0 (+1)	1,328 (-10%)	7mo	$175,000	$132	62
33986 Iris Ln	0.44mi	3/1.5 (+1)	1,389 (-5%)	7mo	$179,900	$130	57
959 E 332nd St	0.40mi	3/1.5 (+1)	1,325 (-10%)	4mo	$180,000	$136	55
1313 Waverly Rd	0.74mi	3/1.0 (+1)	1,500 (+2%)	2mo	$179,900	$120	55
33894 Lawton Ave	0.52mi	3/2.0 (+1)	1,606 (+9%)	7mo	$185,000	$115	45
34440 Glen Dr	0.72mi	3/2.5 (+1)	1,549 (+6%)	6mo	$220,000	$142	41

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: -13.0%
• Equity multiple: 0.52×
• Total profit: $-22,631
• Equity at exit: $25,198

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-4,761
• Equity at exit: $14,612

Cash invested: $47,320 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,575 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$260 /mo · $3,119/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $28

Break-even live

Break-even rent $1,540

Max offer price $169,000

Occupancy floor 93%

Sensitivity live

Price	-10% $124	-5% $76	+0% $28	+5% $-20	+10% $-68
Rent	-10% $-97	-5% $-34	+0% $28	+5% $90	+10% $152
Rate	-1.0pp $113	-0.5pp $71	base $28	+0.5pp $-16	+1.0pp $-60

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 E 326th St Willowick, OH	2.0	2.0	1053	$1,447	$1.37	4d	1	0.58mi

Listing history 21 events

1. 2026-04-24
   status Pending
2. 2026-04-20
   listed $169,000 Active
3. 2022-12-14
   soldstatus $137,500 Closed 405-char remark

   Show marketing remark (405 chars)

   Location! Location! Location! Conveniently located walking distance to the lake!. If you are a buyer looking for instant equity, This is a great opportunity. Dont Rent! Create your own Real Estate Wealth! This home has so much potential. 2 bedroom; 1 full bath, with a bonus room for an office. The home is freshly renovated and ready to move in. It features vaulted ceilings and a large fenced back yard.

4. 2022-11-05
   status Pending 405-char remark

   Show marketing remark (405 chars)

   Location! Location! Location! Conveniently located walking distance to the lake!. If you are a buyer looking for instant equity, This is a great opportunity. Dont Rent! Create your own Real Estate Wealth! This home has so much potential. 2 bedroom; 1 full bath, with a bonus room for an office. The home is freshly renovated and ready to move in. It features vaulted ceilings and a large fenced back yard.

5. 2022-10-28
   status Active 405-char remark

   Show marketing remark (405 chars)

   Location! Location! Location! Conveniently located walking distance to the lake!. If you are a buyer looking for instant equity, This is a great opportunity. Dont Rent! Create your own Real Estate Wealth! This home has so much potential. 2 bedroom; 1 full bath, with a bonus room for an office. The home is freshly renovated and ready to move in. It features vaulted ceilings and a large fenced back yard.

6. 2022-10-24
   status Pending 405-char remark

   Show marketing remark (405 chars)

   Location! Location! Location! Conveniently located walking distance to the lake!. If you are a buyer looking for instant equity, This is a great opportunity. Dont Rent! Create your own Real Estate Wealth! This home has so much potential. 2 bedroom; 1 full bath, with a bonus room for an office. The home is freshly renovated and ready to move in. It features vaulted ceilings and a large fenced back yard.

7. 2022-10-10
   price $137,500 405-char remark

   Show marketing remark (405 chars)

   Location! Location! Location! Conveniently located walking distance to the lake!. If you are a buyer looking for instant equity, This is a great opportunity. Dont Rent! Create your own Real Estate Wealth! This home has so much potential. 2 bedroom; 1 full bath, with a bonus room for an office. The home is freshly renovated and ready to move in. It features vaulted ceilings and a large fenced back yard.

8. 2022-09-27
   listed $139,900 Active 405-char remark

   Show marketing remark (405 chars)

   Location! Location! Location! Conveniently located walking distance to the lake!. If you are a buyer looking for instant equity, This is a great opportunity. Dont Rent! Create your own Real Estate Wealth! This home has so much potential. 2 bedroom; 1 full bath, with a bonus room for an office. The home is freshly renovated and ready to move in. It features vaulted ceilings and a large fenced back yard.

9. 2022-09-13
   historical
10. 2022-08-19
    price $155,000
11. 2022-08-19
    status Active
12. 2022-08-09
    historical Contingent
13. 2022-07-20
    listed $150,000 Active
14. 2015-11-11
    historical
15. 2015-09-23
    price $92,500
16. 2015-08-26
    price $95,000
17. 2015-07-24
    listed $99,900 Active
18. 2000-06-30
    soldstatus $94,000
19. 1991-10-16
    soldstatus $51,025
20. 1991-10-16
    soldstatus $51,025
21. 1991-09-10
    listed $49,900

ⓘ 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: $3,119 · $260/mo
• Projected year-2 tax: $3,119 · $260/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 ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,904
• − Mortgage interest: −$9,467
• − Property taxes: −$3,119
• − Insurance: −$845
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$4,916
• Taxable loss: −$2,467
• Est. tax savings @ 24.0%: +$592
• After-tax cash flow: $927/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

+238.7% since first listed

21 events — show timeline

• 2026-04-24 Pending — MLSNOW
• 2026-04-20 Listed $169,000 MLSNOW
• 2022-12-14 Sold (MLS) $137,500 MLSNOW
• 2022-11-05 Pending — MLSNOW
• 2022-10-28 Relisted — MLSNOW
• 2022-10-24 Pending — MLSNOW
• 2022-10-10 Price Changed $137,500 MLSNOW
• 2022-09-27 Listed $139,900 MLSNOW
• 2022-09-13 Listing Removed — MLSNOW
• 2022-08-19 Price Changed $155,000 MLSNOW
• 2022-08-19 Relisted — MLSNOW
• 2022-08-09 Contingent — MLSNOW
• 2022-07-20 Listed $150,000 MLSNOW
• 2015-11-11 Listing Removed — MLSNOW
• 2015-09-23 Price Changed $92,500 MLSNOW
• 2015-08-26 Price Changed $95,000 MLSNOW
• 2015-07-24 Listed $99,900 MLSNOW
• 2000-06-30 Sold (Public Records) $94,000 Public Records
• 1991-10-16 Sold (Public Records) $51,025 Public Records
• 1991-10-16 Sold (MLS) $51,025 MLSNOW
• 1991-09-10 Listed $49,900 MLSNOW

Property tax history

+2.6%/yr

Latest (2025): $3,119 · -2.2% YoY. Source: county tax records.