7 Meadowlawn Dr #20 · Mentor, OH 44060

$159,900

3 bd · 1.5 ba · 1,390 sqft · Condo public records · 21 Days on market

Built 1963 $115/sqft · at area comps Est $163k · at est. $374/mo HOA · 23% 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).

• Cash flow +10.5/30.0
• ARV discount +8.3/15.0
• Schools +5.6/10.0
• 1% rule +5.4/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this clean and beautifully updated 3-bedroom condo in the desirable Meadowlawn community of Mentor—move-in ready and full of charm! The spacious living room features a cozy fireplace and opens to a bright dining area, ideal for relaxing or entertaining. Upstairs, you’ll find three generously sized bedrooms. Recent upgrades include: new flooring (2023) and fresh paint (2025) in the foyer, living, and dining rooms; a new AC wall unit (2024); new vinyl privacy fence (2024); and updated brick patio (2025). Enjoy your own private courtyard with direct access to a heated two-car garage and additional parking space. Maintenance-free living includes trash, landscaping, and snow removal, plus access to the playground and recreation area. Located just minutes from top-rated schools, shopping, dining, and more—this one won’t last long!

Key facts

• Updated kitchen
• Private court yard
• Walk in closet

Tags

• HEATED TWO CAR GARAGE
• PRIVATE COURT YARD
• UPDATED KITCHEN
• NEW LVT FLOORING
• WALK IN CLOSET
• RENOVATED BATHROOM ACCESS

Property features AI

Finance

• Financial info: Pets allowed with restrictions (cats and dogs OK; breed, number and size limits apply)
• HOA & community: Homeowners association with monthly fee; Association fee includes gas, heat, insurance, grounds and structure maintenance, recreation facilities, snow removal, trash, and water; Community features include medical service, playground, pool, shopping, and public transportation

Exterior

• Parking: Detached, heated 2-car garage; Additional assigned and paved parking
• Utilities: Public water; Public sewer
• Home design: Two-story condominium; Entry level is the first floor; Slab foundation
• Construction: Brick and vinyl siding construction; Asphalt/fiberglass roof; Built (year per public records)
• Exterior features: Patio; Partial vinyl fencing; Community pool

Interior

• Kitchen: Ceramic tile flooring in the kitchen
• Bedrooms: Two bedrooms located on the second floor
• Flooring: Ceramic tile (kitchen)
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Baseboard electric heating; Wall cooling unit(s)
• Interior features: Fireplace in the living room; 6 total rooms
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-81 ($-975/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (9.0% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.7% in Mentor — 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 84/100 on livability (#53 in OH, #739 nationally) — a professional / high-income tenant draw. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, commute F.
• Mentor Exempted Village (suburban): math 58% / reading 70% proficiency, ranked #201 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Memorial Middle School (math 62% / reading 70%, grade A-, #179 of 654 statewide, top 28%, 897 students, 21% FRL); Mentor High School (math 48% / reading 76%, grade B-, #202 of 781 statewide, top 29%, 2,405 students, 20% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 267 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $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

• It's been on market 21 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $145,545 (9.0% 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. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.04% ✓
• Cap rate: 5.68%
• Cash-on-cash: -2.18%
• DSCR: 0.90
• GRM: 8.0

CMA / ARV

• ARV (median comp): $162,800
• List price: $159,900
• Delta: -1.78%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.41×
• Total profit: $-26,538
• Equity at exit: $23,842

10-year hold

• IRR: -3.0%
• Equity multiple: 0.77×
• Total profit: $-10,166
• Equity at exit: $13,825

Cash invested: $44,772 (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 44060

• Rents YoY: 5.5%
• Active inventory: 267
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,659 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$113 /mo · $1,351/yr
• Insurance: −$67
• HOA: −$374
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-81

Break-even live

Break-even rent $1,762

Max offer price $145,545

Occupancy floor 100%

Sensitivity live

Price	-10% $9	-5% $-36	+0% $-81	+5% $-127	+10% $-172
Rent	-10% $-212	-5% $-147	+0% $-81	+5% $-16	+10% $50
Rate	-1.0pp $-1	-0.5pp $-41	base $-81	+0.5pp $-123	+1.0pp $-165

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Meadowlawn Dr #11 Mentor, OH	2.0	1.0	1100	$1,350	$1.23	3d	1	0.13mi
7155 Hart St Mentor, OH	2.0–3.0	1.5	1150	$1,550	$1.35	3d	2	0.83mi

HOA detail condo

• Monthly dues: $374 · $4,488/yr
• Likely covers: trashlandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-13
   statusdays on market $159,900 Pending 21 DOM
2. 2026-06-09
   days on market $159,900 Active 18 DOM
3. 2026-06-08
   days on market $159,900 Active 17 DOM
4. 2026-06-07
   days on market $159,900 Active 16 DOM
5. 2026-06-05
   days on market $159,900 Active 13 DOM
6. 2026-06-03
   days on market $159,900 Active 12 DOM
7. 2026-06-02
   days on market $159,900 Active 11 DOM
8. 2026-06-01
   days on market $159,900 Active 10 DOM
9. 2026-05-31
   days on market $159,900 Active 9 DOM
10. 2026-05-14
    listed $159,900 Active 1519-char remark
11. 2025-05-27
    soldstatus $155,500 Closed 871-char remark

    Show marketing remark (871 chars)

    Welcome to this clean and beautifully updated 3-bedroom condo in the desirable Meadowlawn community of Mentor—move-in ready and full of charm! The spacious living room features a cozy fireplace and opens to a bright dining area, ideal for relaxing or entertaining. Upstairs, you’ll find three generously sized bedrooms. Recent upgrades include: new flooring (2023) and fresh paint (2025) in the foyer, living, and dining rooms; a new AC wall unit (2024); new vinyl privacy fence (2024); and updated brick patio (2025). Enjoy your own private courtyard with direct access to a heated two-car garage and additional parking space. Maintenance-free living includes trash, landscaping, and snow removal, plus access to the playground and recreation area. Located just minutes from top-rated schools, shopping, dining, and more—this one won’t last long!

12. 2025-04-14
    status Pending 871-char remark

    Show marketing remark (871 chars)

    Welcome to this clean and beautifully updated 3-bedroom condo in the desirable Meadowlawn community of Mentor—move-in ready and full of charm! The spacious living room features a cozy fireplace and opens to a bright dining area, ideal for relaxing or entertaining. Upstairs, you’ll find three generously sized bedrooms. Recent upgrades include: new flooring (2023) and fresh paint (2025) in the foyer, living, and dining rooms; a new AC wall unit (2024); new vinyl privacy fence (2024); and updated brick patio (2025). Enjoy your own private courtyard with direct access to a heated two-car garage and additional parking space. Maintenance-free living includes trash, landscaping, and snow removal, plus access to the playground and recreation area. Located just minutes from top-rated schools, shopping, dining, and more—this one won’t last long!

13. 2025-04-08
    listed $149,900 Active 871-char remark

    Show marketing remark (871 chars)

    Welcome to this clean and beautifully updated 3-bedroom condo in the desirable Meadowlawn community of Mentor—move-in ready and full of charm! The spacious living room features a cozy fireplace and opens to a bright dining area, ideal for relaxing or entertaining. Upstairs, you’ll find three generously sized bedrooms. Recent upgrades include: new flooring (2023) and fresh paint (2025) in the foyer, living, and dining rooms; a new AC wall unit (2024); new vinyl privacy fence (2024); and updated brick patio (2025). Enjoy your own private courtyard with direct access to a heated two-car garage and additional parking space. Maintenance-free living includes trash, landscaping, and snow removal, plus access to the playground and recreation area. Located just minutes from top-rated schools, shopping, dining, and more—this one won’t last long!

14. 2023-03-10
    soldstatus $133,000 Closed

    Show marketing remark (605 chars)

    This is the one you've been waiting for! Welcome to this move-in ready townhouse in Meadowlawn Condominiums! Located near all the shopping, schools and amenities Mentor has to offer. Move right into this townhouse which has been recently painted in 2023 and new carpet was installed in 2023 as well. There's access to your two car garage through your private courtyard. Enjoy the luxury of no maintenance living as the HOA takes care of trash pickup, landscaping and snow removal, they also maintain the private community pool and recreation area. Don't miss your opportunity to see this one for yourself!

15. 2023-02-20
    status Pending

    Show marketing remark (605 chars)

    This is the one you've been waiting for! Welcome to this move-in ready townhouse in Meadowlawn Condominiums! Located near all the shopping, schools and amenities Mentor has to offer. Move right into this townhouse which has been recently painted in 2023 and new carpet was installed in 2023 as well. There's access to your two car garage through your private courtyard. Enjoy the luxury of no maintenance living as the HOA takes care of trash pickup, landscaping and snow removal, they also maintain the private community pool and recreation area. Don't miss your opportunity to see this one for yourself!

16. 2023-02-17
    status Active

    Show marketing remark (605 chars)

    This is the one you've been waiting for! Welcome to this move-in ready townhouse in Meadowlawn Condominiums! Located near all the shopping, schools and amenities Mentor has to offer. Move right into this townhouse which has been recently painted in 2023 and new carpet was installed in 2023 as well. There's access to your two car garage through your private courtyard. Enjoy the luxury of no maintenance living as the HOA takes care of trash pickup, landscaping and snow removal, they also maintain the private community pool and recreation area. Don't miss your opportunity to see this one for yourself!

17. 2023-02-10
    listed $130,000

    Show marketing remark (605 chars)

    This is the one you've been waiting for! Welcome to this move-in ready townhouse in Meadowlawn Condominiums! Located near all the shopping, schools and amenities Mentor has to offer. Move right into this townhouse which has been recently painted in 2023 and new carpet was installed in 2023 as well. There's access to your two car garage through your private courtyard. Enjoy the luxury of no maintenance living as the HOA takes care of trash pickup, landscaping and snow removal, they also maintain the private community pool and recreation area. Don't miss your opportunity to see this one for yourself!

18. 2023-02-06
    historical

    Show marketing remark (605 chars)

    This is the one you've been waiting for! Welcome to this move-in ready townhouse in Meadowlawn Condominiums! Located near all the shopping, schools and amenities Mentor has to offer. Move right into this townhouse which has been recently painted in 2023 and new carpet was installed in 2023 as well. There's access to your two car garage through your private courtyard. Enjoy the luxury of no maintenance living as the HOA takes care of trash pickup, landscaping and snow removal, they also maintain the private community pool and recreation area. Don't miss your opportunity to see this one for yourself!

19. 2021-01-29
    soldstatus $109,750 Closed
20. 2021-01-27
    status Pending
21. 2021-01-13
    historical Contingent
22. 2020-11-23
    listed $115,000 Active
23. 2013-02-21
    soldstatus $75,000
24. 2013-02-21
    soldstatus $75,000
25. 2012-06-28
    listed $82,329
26. 2003-11-06
    soldstatus $98,000
27. 2003-11-06
    soldstatus $98,000
28. 2003-09-22
    listed $104,900
29. 1989-04-13
    soldstatus $58,000
30. 1985-07-29
    soldstatus $54,000
31. 1983-09-02
    soldstatus $55,000

ⓘ 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: $1,351 · $113/mo
• Projected year-2 tax: $1,923 · $160/mo
• Expected delta: +$572/yr (+$48/mo · 42.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,906
• − Mortgage interest: −$8,957
• − Property taxes: −$1,351
• − Insurance: −$800
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − HOA: −$4,488
• − Depreciation: −$4,652
• Taxable loss: −$3,526
• Est. tax savings @ 24.0%: +$846
• After-tax cash flow: $-129/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: Mentor Exempted Village
• NCES district ID: 3904549
• Math proficiency: 58% ▼ -17.00%
• Reading proficiency: 70% ▼ -9.00%
• Median HH income: $64,267
• Composite: 55.71/100
• National rank: #1221
• State rank: #201 of 656 in OH

Livability — Mentor

• Score: 84/100
• State rank: #53
• US rank: #739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mentor, OH
• County: Lake County · 204,927 people
• City population: 60,779
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 60,779
• Household income: $87,599
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 883.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 7% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 93% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 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: ▼ -203.36%
• Current HPI: 188.9887
• Rent YoY: ▲ 5.54%
• 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

+190.7% since first listed

25 events — show timeline

• 2026-06-12 Pending — MLSNOW
• 2026-05-27 Relisted — MLSNOW
• 2026-05-19 Pending — MLSNOW
• 2026-05-14 Listed $159,900 MLSNOW
• 2025-05-27 Sold (MLS) $155,500 MLSNOW
• 2025-04-14 Pending — MLSNOW
• 2025-04-08 Listed $149,900 MLSNOW
• 2023-03-10 Sold (MLS) $133,000 MLSNOW
• 2023-02-20 Pending — MLSNOW
• 2023-02-17 Relisted — MLSNOW
• 2023-02-10 Listed $130,000 MLSNOW
• 2023-02-06 Listing Removed — MLSNOW
• 2021-01-29 Sold (MLS) $109,750 MLSNOW
• 2021-01-27 Pending — MLSNOW
• 2021-01-13 Contingent — MLSNOW
• 2020-11-23 Listed $115,000 MLSNOW
• 2013-02-21 Sold (Public Records) $75,000 Public Records
• 2013-02-21 Sold (MLS) $75,000 MLSNOW
• 2012-06-28 Listed $82,329 MLSNOW
• 2003-11-06 Sold (Public Records) $98,000 Public Records
• 2003-11-06 Sold (MLS) $98,000 MLSNOW
• 2003-09-22 Listed $104,900 MLSNOW
• 1989-04-13 Sold (Public Records) $58,000 Public Records
• 1985-07-29 Sold (Public Records) $54,000 Public Records
• 1983-09-02 Sold (Public Records) $55,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,351 · -2.5% YoY. Source: county tax records.