6610 Lear Nagle Rd #38 · North Ridgeville, OH 44039

$49,900

2 bd · 1.0 ba · 768 sqft · Manufactured · 85 Days on market

Built 2022 Good condition $65/sqft · 57% below area ↓ 13% since listing

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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 +4.8/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained and thoughtfully updated 2-bedroom, 1-bath manufactured home located in the Northridge Cove community in North Ridgeville. Offering 768 square feet, this home features an efficient layout with a central living area that flows seamlessly into the kitchen, maximizing functionality and use of space. Bedrooms are situated on opposite ends of the home, providing separation and privacy, with each offering ample closet space. The main living area connects to the kitchen and continues toward the full bathroom, with convenient first-floor laundry located just outside the bathroom area. The primary bedroom is positioned just beyond for easy access. Recent updates include roof (2022), furnace (2022), air conditioner (2025), hot water tank (2022), oven (2022), refrigerator (2024), disposal (2022), dishwasher (2022), washer (2024), and dryer (2024). Exterior features include a designated parking space and an outdoor area currently set up as a patio, suitable for a variety of uses. Northridge Cove offers convenient access to shopping, dining, and entertainment, along with nearby outdoor recreation including Bradley Woods Reservation and Bunns Lake Wildlife Area. Community amenities include a playground, barbecue area, pet-friendly environment, on-site management and maintenance, landscaped grounds, and well-lit streets. Easy access to U. S. Route 20 and Interstates 480 and 80 allows for convenient travel throughout the area.

Key facts

• Recent updates roof
• First-floor laundry
• Outdoor area patio

Tags

• NORTHRIDGE COVE COMMUNITY
• DESIGNATED PARKING SPACE
• OUTDOOR AREA PATIO
• FIRST-FLOOR LAUNDRY
• RECENT UPDATES ROOF
• RECENT UPDATES FURNACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.6% vs local median 3.3% in North Ridgeville — 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 74/100 on livability (#305 in OH, #4,924 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• North Ridgeville City (suburban): math 49% / reading 61% proficiency, ranked #339 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 206 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 2.91% ✓
• Cap rate: 25.55%
• Cash-on-cash: 68.78%
• DSCR: 4.06
• GRM: 2.9

CMA / ARV

• ARV (median comp): $115,959
• List price: $49,900
• Delta: -56.97%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.2%
• Equity multiple: 4.07×
• Total profit: $42,942
• Equity at exit: $7,440

10-year hold

• IRR: 72.4%
• Equity multiple: 8.38×
• Total profit: $103,160
• Equity at exit: $4,314

Cash invested: $13,972 (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 44039

• Active inventory: 206
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $801

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 40%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6610 Lear Nagle Rd #30 North Ridgeville, OH	1.0	1.0	560	$1,099	$1.96	17d	1	0.11mi
27380 Cook Rd Olmsted Twp, OH	2.0	2.0	1123	$2,145	$1.91	2d	2	0.98mi
35143 Bainbridge Rd North Ridgeville, OH	3.0	1.0	1096	$1,979	$1.81	4d	1	1.31mi

Listing history 16 events

1. 2026-06-18
   days on market $49,900 Active 85 DOM
2. 2026-06-17
   days on market $49,900 Active 84 DOM
3. 2026-06-16
   days on market $49,900 Active 83 DOM
4. 2026-06-15
   days on market $49,900 Active 82 DOM
5. 2026-06-13
   days on market $49,900 Active 80 DOM
6. 2026-06-09
   days on market $49,900 Active 76 DOM
7. 2026-06-08
   days on market $49,900 Active 75 DOM
8. 2026-06-07
   days on market $49,900 Active 74 DOM
9. 2026-06-05
   days on market $49,900 Active 71 DOM
10. 2026-06-03
    days on market $49,900 Active 70 DOM
11. 2026-06-02
    days on market $49,900 Active 69 DOM
12. 2026-06-01
    days on market $49,900 Active 68 DOM
13. 2026-05-31
    days on market $49,900 Active 67 DOM
14. 2026-05-01
    price $58,900 1466-char remark

    Show marketing remark (1466 chars)

    Welcome to this well-maintained and thoughtfully updated 2-bedroom, 1-bath manufactured home located in the Northridge Cove community in North Ridgeville. Offering 768 square feet, this home features an efficient layout with a central living area that flows seamlessly into the kitchen, maximizing functionality and use of space. Bedrooms are situated on opposite ends of the home, providing separation and privacy, with each offering ample closet space. The main living area connects to the kitchen and continues toward the full bathroom, with convenient first-floor laundry located just outside the bathroom area. The primary bedroom is positioned just beyond for easy access. Recent updates include roof (2022), furnace (2022), air conditioner (2025), hot water tank (2022), oven (2022), refrigerator (2024), disposal (2022), dishwasher (2022), washer (2024), and dryer (2024). Exterior features include a designated parking space and an outdoor area currently set up as a patio, suitable for a variety of uses. Northridge Cove offers convenient access to shopping, dining, and entertainment, along with nearby outdoor recreation including Bradley Woods Reservation and Bunns Lake Wildlife Area. Community amenities include a playground, barbecue area, pet-friendly environment, on-site management and maintenance, landscaped grounds, and well-lit streets. Easy access to U. S. Route 20 and Interstates 480 and 80 allows for convenient travel throughout the area.

15. 2026-04-06
    price $62,900 1466-char remark

    Show marketing remark (1466 chars)

    Welcome to this well-maintained and thoughtfully updated 2-bedroom, 1-bath manufactured home located in the Northridge Cove community in North Ridgeville. Offering 768 square feet, this home features an efficient layout with a central living area that flows seamlessly into the kitchen, maximizing functionality and use of space. Bedrooms are situated on opposite ends of the home, providing separation and privacy, with each offering ample closet space. The main living area connects to the kitchen and continues toward the full bathroom, with convenient first-floor laundry located just outside the bathroom area. The primary bedroom is positioned just beyond for easy access. Recent updates include roof (2022), furnace (2022), air conditioner (2025), hot water tank (2022), oven (2022), refrigerator (2024), disposal (2022), dishwasher (2022), washer (2024), and dryer (2024). Exterior features include a designated parking space and an outdoor area currently set up as a patio, suitable for a variety of uses. Northridge Cove offers convenient access to shopping, dining, and entertainment, along with nearby outdoor recreation including Bradley Woods Reservation and Bunns Lake Wildlife Area. Community amenities include a playground, barbecue area, pet-friendly environment, on-site management and maintenance, landscaped grounds, and well-lit streets. Easy access to U. S. Route 20 and Interstates 480 and 80 allows for convenient travel throughout the area.

16. 2026-03-25
    listed $67,900 Active 1466-char remark

    Show marketing remark (1466 chars)

    Welcome to this well-maintained and thoughtfully updated 2-bedroom, 1-bath manufactured home located in the Northridge Cove community in North Ridgeville. Offering 768 square feet, this home features an efficient layout with a central living area that flows seamlessly into the kitchen, maximizing functionality and use of space. Bedrooms are situated on opposite ends of the home, providing separation and privacy, with each offering ample closet space. The main living area connects to the kitchen and continues toward the full bathroom, with convenient first-floor laundry located just outside the bathroom area. The primary bedroom is positioned just beyond for easy access. Recent updates include roof (2022), furnace (2022), air conditioner (2025), hot water tank (2022), oven (2022), refrigerator (2024), disposal (2022), dishwasher (2022), washer (2024), and dryer (2024). Exterior features include a designated parking space and an outdoor area currently set up as a patio, suitable for a variety of uses. Northridge Cove offers convenient access to shopping, dining, and entertainment, along with nearby outdoor recreation including Bradley Woods Reservation and Bunns Lake Wildlife Area. Community amenities include a playground, barbecue area, pet-friendly environment, on-site management and maintenance, landscaped grounds, and well-lit streets. Easy access to U. S. Route 20 and Interstates 480 and 80 allows for convenient travel throughout the area.

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,403
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$1,452
• Taxable income: $9,374
• Est. tax owed @ 24.0%: −$2,250
• After-tax cash flow: $7,360/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated manufactured home offers a good condition with recent updates, making it ready for a new owner or tenant.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint — refreshes the interior and exterior

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint — refreshes the interior and exterior ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Ridgeville City
• NCES district ID: 3904453
• Math proficiency: 49% ▼ -21.00%
• Reading proficiency: 61% ▼ -11.00%
• Median HH income: $66,437
• Composite: 48.46/100
• National rank: #2130
• State rank: #339 of 656 in OH

Livability — North Ridgeville

• Score: 74/100
• State rank: #305
• US rank: #4924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Ridgeville, OH
• County: Lorain County · 219,437 people
• City population: 36,780
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 36,780
• Household income: $96,485
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 207.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -160.14%
• Current HPI: 210.6074
• 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

-13.3% since first listed

3 events — show timeline

• 2026-05-01 Price Changed $58,900 MLSNOW
• 2026-04-06 Price Changed $62,900 MLSNOW
• 2026-03-25 Listed $67,900 MLSNOW