434 9th St · Elyria, OH 44035

$160,000

4 bd · 2.0 ba · 2,199 sqft · MultiFamily public records · 76 Days on market

Built 1900 5,227 sqft lot Est $119k · 35% over

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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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +6.3/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0
• 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

Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

Key facts

• Cash flowing duplex
• New hot water tanks
• New dishwashers

Tags

• CASH FLOWING DUPLEX
• TURNKEY OPPORTUNITY
• THOROUGHLY REMODELED
• NEW DISHWASHERS
• DURABLE VINYL PLANK FLOORING
• NEW HOT WATER TANKS

Property features AI

Finance

• Other: Above-grade finished area reported as 3,220 (source: Realist); Annual tax amount: $1,696 (2024)
• Financial info: Up unit is leased for $972.50 (lease expires May 30, 2026); Down unit is leased for $972.50 (lease expires May 30, 2026)
• HOA & community: No HOA information provided

Exterior

• Parking: Detached 2-car garage; Driveway and off-street parking
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Two-story building
• Construction: Wood siding; Asbestos shingle roof; Built according to public records (year built source: Public Records)
• Exterior features: Property on a 0.12-acre lot; Single building (multi-unit)

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two-bedroom unit (up unit, occupied); Two-bedroom unit (down unit, occupied)
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating; Window air conditioning units
• Interior features: Basement with concrete floor
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive. Per door: $190/mo.
• 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 9.1% vs local median 3.8% 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: schools C-, employment D, commute F.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.7%/yr); 356 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 38% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 29y 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 $122k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.13% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.16%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $118,746
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Vic Janowicz Dr	0.19mi	5/2.0 (+1)	2,238 (+2%)	18mo	$119,750	$54	68
317 West Ave	0.46mi	4/3.0	2,112 (-4%)	2mo	$119,000	$56	67
220 Chestnut St	0.52mi	4/2.0	2,216 (+1%)	18mo	$120,000	$54	59
1103 Middle Ave	0.28mi	5/2.0 (+1)	2,009 (-9%)	12mo	$85,000	$42	57
227 6th St	0.44mi	4/2.0	1,922 (-13%)	4mo	$156,500	$81	55
1600 West Ave	0.45mi	4/2.0	2,046 (-7%)	19mo	$100,000	$49	52

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: 2.9%
• Equity multiple: 1.12×
• Total profit: $5,283
• Equity at exit: $23,857

10-year hold

• IRR: 15.7%
• Equity multiple: 2.50×
• Total profit: $66,979
• Equity at exit: $13,834

Cash invested: $44,800 (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: 356
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $1,809 high
• Mortgage (P&I): −$839
• Tax from tax record: −$144 /mo · $1,730/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $379

Break-even live

Break-even rent $1,329

Max offer price $160,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,810
Total (2 units)			$1,809

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Georgia Ave Elyria, OH	3.0	2.5	1850	$1,750	$0.95	1d	1	0.86mi
10425 Middle Ave Elyria, OH	3.0–4.0	2.0	1424	$1,469	$1.03	1d	1	1.38mi

Listing history 23 events

1. 2026-03-24
   status Active
2. 2026-03-13
   status Pending
3. 2026-02-28
   listed $160,000 Active
4. 2024-03-14
   soldstatus $122,400
5. 2024-03-13
   soldstatus $122,340 Closed 223-char remark

   Show marketing remark (223 chars)

   Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

6. 2024-02-07
   status Pending 223-char remark

   Show marketing remark (223 chars)

   Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

7. 2024-02-02
   status Active 223-char remark

   Show marketing remark (223 chars)

   Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

8. 2024-01-31
   status Pending 223-char remark

   Show marketing remark (223 chars)

   Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

9. 2024-01-27
   status Active 223-char remark

   Show marketing remark (223 chars)

   Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

10. 2024-01-19
    status Pending 223-char remark

    Show marketing remark (223 chars)

    Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

11. 2024-01-19
    status Active 223-char remark

    Show marketing remark (223 chars)

    Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

12. 2024-01-19
    status Pending 223-char remark

    Show marketing remark (223 chars)

    Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

13. 2023-12-26
    listed $119,900 Active 223-char remark

    Show marketing remark (223 chars)

    Cash-flowing duplex with solid tenants who are related to each other and get along well. Thorough remodel in 2023: dishwashers, vinyl plank flooring, new hot water tanks. Rebuilt steps to up unit; newer replacement windows.

14. 2017-03-28
    soldstatus $63,000
15. 2011-10-17
    soldstatus $15,900 159-char remark

    Show marketing remark (159 chars)

    Good curb appeal. Nice tree lined street in Elyria. Oversized two car garage. Rent out one half and pay your mortgage. Excellent income property for investors.

16. 2011-07-11
    soldstatus $106,000
17. 2011-06-09
    listed $15,900 159-char remark

    Show marketing remark (159 chars)

    Good curb appeal. Nice tree lined street in Elyria. Oversized two car garage. Rent out one half and pay your mortgage. Excellent income property for investors.

18. 2009-03-18
    historical
19. 2008-03-19
    listed $75,900
20. 2007-03-13
    historical
21. 2006-09-13
    listed $89,900
22. 1998-01-21
    soldstatus $70,500
23. 1997-10-20
    listed $79,900

ⓘ 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: $1,730 · $144/mo
• Projected year-2 tax: $2,113 · $176/mo
• Expected delta: +$383/yr (+$32/mo · 22.1%)

ⓘ 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 ≥98°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: $21,708
• − Mortgage interest: −$8,962
• − Property taxes: −$1,730
• − Insurance: −$800
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − Depreciation: −$4,655
• Taxable income: $2,088
• Est. tax owed @ 24.0%: −$501
• After-tax cash flow: $4,050/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: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 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

+100.3% since first listed

23 events — show timeline

• 2026-03-24 Relisted — MLSNOW
• 2026-03-13 Pending — MLSNOW
• 2026-02-28 Listed $160,000 MLSNOW
• 2024-03-14 Sold (Public Records) $122,400 Public Records
• 2024-03-13 Sold (MLS) $122,340 MLSNOW
• 2024-02-07 Pending — MLSNOW
• 2024-02-02 Relisted — MLSNOW
• 2024-01-31 Pending — MLSNOW
• 2024-01-27 Relisted — MLSNOW
• 2024-01-19 Pending — MLSNOW
• 2024-01-19 Relisted — MLSNOW
• 2024-01-19 Pending — MLSNOW
• 2023-12-26 Listed $119,900 MLSNOW
• 2017-03-28 Sold (Public Records) $63,000 Public Records
• 2011-10-17 Sold (MLS) $15,900 MLSNOW
• 2011-07-11 Sold (Public Records) $106,000 Public Records
• 2011-06-09 Listed $15,900 MLSNOW
• 2009-03-18 Listing Removed — MLSNOW
• 2008-03-19 Listed $75,900 MLSNOW
• 2007-03-13 Listing Removed — MLSNOW
• 2006-09-13 Listed $89,900 MLSNOW
• 1998-01-21 Sold (MLS) $70,500 MLSNOW
• 1997-10-20 Listed $79,900 MLSNOW

Property tax history

+2.5%/yr

Latest (2025): $1,730 · +2.0% YoY. Source: county tax records.