141 Grass Ct · Painesville, OH 44077

$199,000

3 bd · 2.5 ba · 1,591 sqft · Townhouse public records · 31 Days on market

Built 2021 Fair condition 975 sqft lot Est $259k · 23% under $90/mo HOA · 5% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +9.7/30.0
• Schools +5.5/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +3.4/5.0
• DSCR +2.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WHY RENT WHEN YOU CAN OWN? NEW CONSTRUCTION! No grass to cut! the ONLY NEW CONSTRCUTION at this price point in Lake County. This new home is located within seconds of freeways, dining, beach and entertainment. This 3 bedroom 2.5 bath has lots of storage and closet space! All APPLIANCES INCLUDED: GE high efficiency stove, fridge, dishwasher and microwave along with full size washer & dryer too! Open floorplan with spacious kitchen to living room area with lots of cabinets and counter space. Along with a Master bedroom, that has a large walk in closet and private bathroom. Nest programmable thermostat and Wi-Fi enabled garage door opener system. Nice size back yard. Everything brand new with warranties to give you an added piece of mind. All pictures for illustration only. Playground and dog park within community! This home is a must see! Call Ryan Homes or Our Model Home To Set A Private Phone, Virtual, Or In-Person Appointment. Photos for representation only.

Key facts

• Second-floor laundry
• End-unit condo
• Recessed lighting

Tags

• END-UNIT CONDO
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• RECESSED LIGHTING
• SECOND-FLOOR LAUNDRY
• PRIVATE RETREAT

Property features AI

Finance

• Other: Pets: contact for details
• Financial info:
• HOA & community: Homeowners association: River wood Village; HOA fee $90 monthly; HOA covers association management, grounds maintenance, reserve fund, snow removal, and trash

Exterior

• Parking: Driveway; 1-car garage
• Security:
• Utilities: Public water; Public sewer
• Home design: Vinyl siding; 1,591 above-grade finished area
• Construction: Built (year source: public records); Asphalt shingle roof; Vinyl siding construction
• Exterior features:

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms:
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: 6 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $199k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (14.5% below list).
• Recommended offer: $170k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.9% in Painesville — 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 72/100 on livability (#360 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.
• Riverside Local (suburban): math 58% / reading 67% proficiency, ranked #217 of 656 in OH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.7%/yr); 273 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $6k 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

• It's been on market 31 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.

Recommended offer $170,074 (14.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.85% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.83%
• DSCR: 0.87
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $259,333
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 Hidden Harbor Dr	0.68mi	2/2.0 (-1)	1,587 (-0%)	16mo	$222,500	$140	48
573 Hidden Harbor Dr	0.72mi	2/2.0 (-1)	1,547 (-3%)	14mo	$285,000	$184	44
71 Windjammer Ct	0.65mi	3/2.5	1,751 (+10%)	19mo	$250,000	$143	37
1272 Hidden Harbor Dr	0.71mi	2/2.0 (-1)	1,532 (-4%)	22mo	$249,900	$163	36

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.29×
• Total profit: $-39,353
• Equity at exit: $29,672

10-year hold

• IRR: -11.6%
• Equity multiple: 0.29×
• Total profit: $-39,812
• Equity at exit: $17,206

Cash invested: $55,720 (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 44077

• Rents YoY: 3.7%
• Active inventory: 273
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,701 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$258 /mo · $3,101/yr
• Insurance: −$83
• HOA: −$90
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-131

Break-even live

Break-even rent $1,867

Max offer price $175,799

Occupancy floor —

Sensitivity live

Price	-10% $-19	-5% $-75	+0% $-131	+5% $-188	+10% $-244
Rent	-10% $-266	-5% $-199	+0% $-131	+5% $-64	+10% $3
Rate	-1.0pp $-31	-0.5pp $-81	base $-131	+0.5pp $-183	+1.0pp $-235

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
189 E Prospect St Painesville, OH	3.0	2.0	1240	$1,600	$1.29	24d	1	0.92mi
762 Mentor Ave Unit 31 Painesville, OH	3.0	1.5	1160	$1,400	$1.21	2d	1	0.98mi
763 Mentor Ave Painesville, OH	3.0	1.5	1472	$1,800	$1.22	4d	1	1.03mi
1380 Legacy Dr Painesville, OH	1.0–3.0	1.0–2.0	1224	$2,655	$2.17	2d	14	1.36mi

HOA detail

• Monthly dues: $90 · $1,080/yr
• Likely covers: internet

Listing history 23 events

1. 2026-06-21
   days on market $199,000 Active 31 DOM
2. 2026-06-18
   days on market $199,000 Active 28 DOM
3. 2026-06-17
   days on market $199,000 Active 27 DOM
4. 2026-06-16
   days on market $199,000 Active 26 DOM
5. 2026-06-15
   days on market $199,000 Active 25 DOM
6. 2026-06-13
   days on market $199,000 Active 23 DOM
7. 2026-06-13
   days on market $199,000 Active 22 DOM
8. 2026-06-09
   days on market $199,000 Active 19 DOM
9. 2026-06-08
   days on market $199,000 Active 18 DOM
10. 2026-06-07
    days on market $199,000 Active 17 DOM
11. 2026-06-05
    days on market $199,000 Active 14 DOM
12. 2026-06-03
    days on market $199,000 Active 13 DOM
13. 2026-06-02
    days on market $199,000 Active 12 DOM
14. 2026-06-01
    days on market $199,000 Active 11 DOM
15. 2026-05-31
    price $199,000 Active 10 DOM
16. 2026-05-31
    days on market $205,900 Active 10 DOM
17. 2026-05-21
    listed $205,900 Active
18. 2021-08-30
    soldstatus $189,990 Closed 979-char remark

    Show marketing remark (979 chars)

    WHY RENT WHEN YOU CAN OWN? NEW CONSTRUCTION! No grass to cut! the ONLY NEW CONSTRCUTION at this price point in Lake County. This new home is located within seconds of freeways, dining, beach and entertainment. This 3 bedroom 2.5 bath has lots of storage and closet space! All APPLIANCES INCLUDED: GE high efficiency stove, fridge, dishwasher and microwave along with full size washer & dryer too! Open floorplan with spacious kitchen to living room area with lots of cabinets and counter space. Along with a Master bedroom, that has a large walk in closet and private bathroom. Nest programmable thermostat and Wi-Fi enabled garage door opener system. Nice size back yard. Everything brand new with warranties to give you an added piece of mind. All pictures for illustration only. Playground and dog park within community! This home is a must see! Call Ryan Homes or Our Model Home To Set A Private Phone, Virtual, Or In-Person Appointment. Photos for representation only.

19. 2021-07-03
    status Pending 979-char remark

    Show marketing remark (979 chars)

    WHY RENT WHEN YOU CAN OWN? NEW CONSTRUCTION! No grass to cut! the ONLY NEW CONSTRCUTION at this price point in Lake County. This new home is located within seconds of freeways, dining, beach and entertainment. This 3 bedroom 2.5 bath has lots of storage and closet space! All APPLIANCES INCLUDED: GE high efficiency stove, fridge, dishwasher and microwave along with full size washer & dryer too! Open floorplan with spacious kitchen to living room area with lots of cabinets and counter space. Along with a Master bedroom, that has a large walk in closet and private bathroom. Nest programmable thermostat and Wi-Fi enabled garage door opener system. Nice size back yard. Everything brand new with warranties to give you an added piece of mind. All pictures for illustration only. Playground and dog park within community! This home is a must see! Call Ryan Homes or Our Model Home To Set A Private Phone, Virtual, Or In-Person Appointment. Photos for representation only.

20. 2021-06-25
    listed $189,990 Active 979-char remark

    Show marketing remark (979 chars)

    WHY RENT WHEN YOU CAN OWN? NEW CONSTRUCTION! No grass to cut! the ONLY NEW CONSTRCUTION at this price point in Lake County. This new home is located within seconds of freeways, dining, beach and entertainment. This 3 bedroom 2.5 bath has lots of storage and closet space! All APPLIANCES INCLUDED: GE high efficiency stove, fridge, dishwasher and microwave along with full size washer & dryer too! Open floorplan with spacious kitchen to living room area with lots of cabinets and counter space. Along with a Master bedroom, that has a large walk in closet and private bathroom. Nest programmable thermostat and Wi-Fi enabled garage door opener system. Nice size back yard. Everything brand new with warranties to give you an added piece of mind. All pictures for illustration only. Playground and dog park within community! This home is a must see! Call Ryan Homes or Our Model Home To Set A Private Phone, Virtual, Or In-Person Appointment. Photos for representation only.

21. 2021-04-07
    status Pending
22. 2021-04-05
    historical
23. 2021-04-03
    listed $190,350 Active

ⓘ 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: $3,101 · $258/mo
• Projected year-2 tax: $3,103 · $259/mo
• Expected delta: +$2/yr ($0/mo · 0.1%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,409
• − Mortgage interest: −$11,147
• − Property taxes: −$3,101
• − Insurance: −$995
• − Repairs & maintenance: −$1,633
• − Management: −$1,633
• − HOA: −$1,080
• − Depreciation: −$5,789
• Taxable loss: −$4,969
• Est. tax savings @ 24.0%: +$1,193
• After-tax cash flow: $-383/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 · 1 photo

Fair 45/100 Moderate rehab

This townhouse requires moderate repairs and maintenance to improve its condition and value. Painting, landscaping, and HVAC maintenance are key areas to focus on for a significant return on investment.

Repairs flagged

• Minor exterior siding — Slight wear visible on siding
• Minor interior walls — Paint appears slightly faded
• Minor landscaping — Overgrown and needs trimming

Value-add opportunities

• Both painting interior walls — Fresh paint can significantly improve the home's appearance and value
• Both landscaping and trimming — A well-maintained exterior can enhance curb appeal and property value
• Both HVAC inspection and cleaning — A clean and functioning HVAC system is essential for comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Slight wear visible on siding	Minor	$500–3,000
interior walls · Paint appears slightly faded	Minor	$500–3,000
landscaping · Overgrown and needs trimming	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both painting interior walls — Fresh paint can significantly improve the home's appearance and value ↑
• Both landscaping and trimming — A well-maintained exterior can enhance curb appeal and property value ↑
• Both HVAC inspection and cleaning — A clean and functioning HVAC system is essential for comfort and energy efficiency ↑

ⓘ 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: Riverside Local
• NCES district ID: 3910014
• Math proficiency: 58% ▼ -15.00%
• Reading proficiency: 67% ▼ -7.00%
• Median HH income: $69,717
• Composite: 55.0/100
• National rank: #1297
• State rank: #217 of 656 in OH

Livability — Painesville

• Score: 72/100
• State rank: #360
• US rank: #5785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 204,927 people
• City population: 57,325
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 57,325
• Household income: $85,056
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1333.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -183.05%
• Current HPI: 181.2976
• Rent YoY: ▲ 3.68%
• 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

+8.2% since first listed

7 events — show timeline

• 2026-05-21 Listed $205,900 MLSNOW
• 2021-08-30 Sold (MLS) $189,990 MLSNOW
• 2021-07-03 Pending — MLSNOW
• 2021-06-25 Listed $189,990 MLSNOW
• 2021-04-07 Pending — MLSNOW
• 2021-04-05 Listing Removed — MLSNOW
• 2021-04-03 Listed $190,350 MLSNOW

Property tax history

+613.0%/yr

Latest (2025): $3,101 · -0.7% YoY. Source: county tax records.