198 Lear Rd · Avon Lake, OH 44012

$350,000

3 bd · 2.0 ba · 1,640 sqft · SingleFamily public records · 1 Days on market

Built 1996 0.52 ac lot Est $361k · at est.

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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 +23.9/30.0
• ARV discount +8.8/15.0
• DSCR +7.7/10.0
• Schools +7.0/10.0
• 1% rule +5.9/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOMING CENTER HALL SPRAWLING RANCH. PRIDE OF OWNERSHIP AND BEAUTIFULLY APPOINTED. STEADILY UPDATED THROUGHOUT THE YEARS. HVAC/2019, KITCHEN UPDATED WITH HARDWOOD CABINETRY, GRANITE, CUSTOM BACKSPLASH AND STAINLESS-STEEL APPLIANCES 2014. KITCHEN IS OPEN TO THE GREAT ROOM EATING AREA. MASTER BATHROOM WITH CERAMIC WALK IN SHOWER WITH BUILT IN BENCH, HEAT LAMP AND BARS FOR SAFETY 2013. CERAMIC TILE IN ALL THE HARD SURFACE ROOMS OF THE HOUSE. GAS FIREPLACE IN GREAT ROOM. NEWER PATIO DOOR WITH BLINDS BETWEEN THE GLASS. PERFECT OPEN CONCEPT FLOOR PLAN WITH EASE OF FLOW FROM ROOM TO ROOM. SPLIT BEDROOM FLOOR PLAN FOR ADDITIONAL PRIVACY. ALL BEDROOMS HAVE GENEROUS CLOSETS PLUS CLOSET ORGANIZERS FOR MAXIMUM STORAGE. FORMAL DINING ROOM/HOME OFFICE OFF OF FOYER. BEAUTIFUL WOODED LOT, PATIO BLOCKS AROUND THE ENTIRE HOME FOR EASE OF WALKING. LOVELY FRONT PORCH FOR MORNING SUNRISES.

Key facts

• No rear neighbors
• Main bathroom
• Spacious lot

Tags

• UPDATED KITCHEN
• MASTER BATHROOM
• MAIN BATHROOM
• SPACIOUS LOT
• NO REAR NEIGHBORS
• NO HOA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 8.6% vs local median 3.2% in Avon Lake — 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 (#52 in OH, #736 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F.
• Avon Lake City (suburban): math 78% / reading 80% proficiency, ranked #48 of 656 in OH (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 178 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 40% of the median local income ($116k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $225k; list at $350k implies a 56% gain — meaningful room to come down on a strong offer.

Recommended offer $350,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.09% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $360,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
198 Lear Rd	0.00mi	3/2.0	1,640 (0%)	0mo	$360,000	$220	100
139 Lakewood Dr	0.16mi	4/2.5 (+1)	1,612 (-2%)	5mo	$360,000	$223	78
154 Oakwood Dr. Dr	0.18mi	3/2.0	1,578 (-4%)	9mo	$260,000	$165	78
239 South Point Dr	0.32mi	4/2.5 (+1)	1,612 (-2%)	6mo	$344,900	$214	70
235 South Point Dr	0.31mi	4/2.5 (+1)	1,612 (-2%)	8mo	$353,900	$220	69
370 Lear Rd	0.64mi	3/1.5	1,646 (+0%)	1mo	$382,000	$232	66
121 Beck Rd	0.55mi	3/1.0	1,584 (-3%)	1mo	$250,000	$158	64
283 Lear Rd	0.32mi	4/2.0 (+1)	1,504 (-8%)	6mo	$320,700	$213	62
32249 Lake Rd	0.61mi	4/3.0 (+1)	1,702 (+4%)	3mo	$325,000	$191	54
149 Jaycox Rd	0.55mi	3/1.0	1,400 (-15%)	6mo	$309,000	$221	41
214 Cherry Ln	0.71mi	4/3.0 (+1)	1,870 (+14%)	1mo	$275,000	$147	33
32363 Electric Blvd	0.70mi	3/2.5	1,400 (-15%)	12mo	$332,700	$238	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-13,666
• Equity at exit: $52,186

10-year hold

• IRR: 6.0%
• Equity multiple: 1.44×
• Total profit: $43,542
• Equity at exit: $30,262

Cash invested: $98,000 (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 44012

• Active inventory: 178
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,806 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$350 /mo · $4,198/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$799
• Net cashflow: $676

Break-even live

Break-even rent $2,951

Max offer price $350,000

Occupancy floor 77%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
173 Forest Blvd Avon Lake, OH	3.0	2.0	1214	$2,199	$1.81	2d	1	0.28mi
32071 Lake Rd Unit 1496051P Avon Lake, OH	4.0	2.5	1603	$7,861	$4.90	8d	1	0.37mi
145 Beck Rd Avon Lake, OH	4.0	1.0	1332	$2,250	$1.69	44d	1	0.47mi

Listing history 9 events

1. 2026-04-27
   status Pending
2. 2026-04-26
   listed $350,000 Active
3. 2020-05-15
   soldstatus $225,000 Closed 883-char remark

   Show marketing remark (883 chars)

   WELCOMING CENTER HALL SPRAWLING RANCH. PRIDE OF OWNERSHIP AND BEAUTIFULLY APPOINTED. STEADILY UPDATED THROUGHOUT THE YEARS. HVAC/2019, KITCHEN UPDATED WITH HARDWOOD CABINETRY, GRANITE, CUSTOM BACKSPLASH AND STAINLESS-STEEL APPLIANCES 2014. KITCHEN IS OPEN TO THE GREAT ROOM EATING AREA. MASTER BATHROOM WITH CERAMIC WALK IN SHOWER WITH BUILT IN BENCH, HEAT LAMP AND BARS FOR SAFETY 2013. CERAMIC TILE IN ALL THE HARD SURFACE ROOMS OF THE HOUSE. GAS FIREPLACE IN GREAT ROOM. NEWER PATIO DOOR WITH BLINDS BETWEEN THE GLASS. PERFECT OPEN CONCEPT FLOOR PLAN WITH EASE OF FLOW FROM ROOM TO ROOM. SPLIT BEDROOM FLOOR PLAN FOR ADDITIONAL PRIVACY. ALL BEDROOMS HAVE GENEROUS CLOSETS PLUS CLOSET ORGANIZERS FOR MAXIMUM STORAGE. FORMAL DINING ROOM/HOME OFFICE OFF OF FOYER. BEAUTIFUL WOODED LOT, PATIO BLOCKS AROUND THE ENTIRE HOME FOR EASE OF WALKING. LOVELY FRONT PORCH FOR MORNING SUNRISES.

4. 2020-05-15
   soldstatus $225,000

   Show marketing remark (883 chars)

   WELCOMING CENTER HALL SPRAWLING RANCH. PRIDE OF OWNERSHIP AND BEAUTIFULLY APPOINTED. STEADILY UPDATED THROUGHOUT THE YEARS. HVAC/2019, KITCHEN UPDATED WITH HARDWOOD CABINETRY, GRANITE, CUSTOM BACKSPLASH AND STAINLESS-STEEL APPLIANCES 2014. KITCHEN IS OPEN TO THE GREAT ROOM EATING AREA. MASTER BATHROOM WITH CERAMIC WALK IN SHOWER WITH BUILT IN BENCH, HEAT LAMP AND BARS FOR SAFETY 2013. CERAMIC TILE IN ALL THE HARD SURFACE ROOMS OF THE HOUSE. GAS FIREPLACE IN GREAT ROOM. NEWER PATIO DOOR WITH BLINDS BETWEEN THE GLASS. PERFECT OPEN CONCEPT FLOOR PLAN WITH EASE OF FLOW FROM ROOM TO ROOM. SPLIT BEDROOM FLOOR PLAN FOR ADDITIONAL PRIVACY. ALL BEDROOMS HAVE GENEROUS CLOSETS PLUS CLOSET ORGANIZERS FOR MAXIMUM STORAGE. FORMAL DINING ROOM/HOME OFFICE OFF OF FOYER. BEAUTIFUL WOODED LOT, PATIO BLOCKS AROUND THE ENTIRE HOME FOR EASE OF WALKING. LOVELY FRONT PORCH FOR MORNING SUNRISES.

5. 2020-04-13
   status Pending 883-char remark

   Show marketing remark (883 chars)

   WELCOMING CENTER HALL SPRAWLING RANCH. PRIDE OF OWNERSHIP AND BEAUTIFULLY APPOINTED. STEADILY UPDATED THROUGHOUT THE YEARS. HVAC/2019, KITCHEN UPDATED WITH HARDWOOD CABINETRY, GRANITE, CUSTOM BACKSPLASH AND STAINLESS-STEEL APPLIANCES 2014. KITCHEN IS OPEN TO THE GREAT ROOM EATING AREA. MASTER BATHROOM WITH CERAMIC WALK IN SHOWER WITH BUILT IN BENCH, HEAT LAMP AND BARS FOR SAFETY 2013. CERAMIC TILE IN ALL THE HARD SURFACE ROOMS OF THE HOUSE. GAS FIREPLACE IN GREAT ROOM. NEWER PATIO DOOR WITH BLINDS BETWEEN THE GLASS. PERFECT OPEN CONCEPT FLOOR PLAN WITH EASE OF FLOW FROM ROOM TO ROOM. SPLIT BEDROOM FLOOR PLAN FOR ADDITIONAL PRIVACY. ALL BEDROOMS HAVE GENEROUS CLOSETS PLUS CLOSET ORGANIZERS FOR MAXIMUM STORAGE. FORMAL DINING ROOM/HOME OFFICE OFF OF FOYER. BEAUTIFUL WOODED LOT, PATIO BLOCKS AROUND THE ENTIRE HOME FOR EASE OF WALKING. LOVELY FRONT PORCH FOR MORNING SUNRISES.

6. 2020-04-06
   historical Contingent 883-char remark

   Show marketing remark (883 chars)

   WELCOMING CENTER HALL SPRAWLING RANCH. PRIDE OF OWNERSHIP AND BEAUTIFULLY APPOINTED. STEADILY UPDATED THROUGHOUT THE YEARS. HVAC/2019, KITCHEN UPDATED WITH HARDWOOD CABINETRY, GRANITE, CUSTOM BACKSPLASH AND STAINLESS-STEEL APPLIANCES 2014. KITCHEN IS OPEN TO THE GREAT ROOM EATING AREA. MASTER BATHROOM WITH CERAMIC WALK IN SHOWER WITH BUILT IN BENCH, HEAT LAMP AND BARS FOR SAFETY 2013. CERAMIC TILE IN ALL THE HARD SURFACE ROOMS OF THE HOUSE. GAS FIREPLACE IN GREAT ROOM. NEWER PATIO DOOR WITH BLINDS BETWEEN THE GLASS. PERFECT OPEN CONCEPT FLOOR PLAN WITH EASE OF FLOW FROM ROOM TO ROOM. SPLIT BEDROOM FLOOR PLAN FOR ADDITIONAL PRIVACY. ALL BEDROOMS HAVE GENEROUS CLOSETS PLUS CLOSET ORGANIZERS FOR MAXIMUM STORAGE. FORMAL DINING ROOM/HOME OFFICE OFF OF FOYER. BEAUTIFUL WOODED LOT, PATIO BLOCKS AROUND THE ENTIRE HOME FOR EASE OF WALKING. LOVELY FRONT PORCH FOR MORNING SUNRISES.

7. 2020-03-30
   price $234,900 883-char remark

   Show marketing remark (883 chars)

   WELCOMING CENTER HALL SPRAWLING RANCH. PRIDE OF OWNERSHIP AND BEAUTIFULLY APPOINTED. STEADILY UPDATED THROUGHOUT THE YEARS. HVAC/2019, KITCHEN UPDATED WITH HARDWOOD CABINETRY, GRANITE, CUSTOM BACKSPLASH AND STAINLESS-STEEL APPLIANCES 2014. KITCHEN IS OPEN TO THE GREAT ROOM EATING AREA. MASTER BATHROOM WITH CERAMIC WALK IN SHOWER WITH BUILT IN BENCH, HEAT LAMP AND BARS FOR SAFETY 2013. CERAMIC TILE IN ALL THE HARD SURFACE ROOMS OF THE HOUSE. GAS FIREPLACE IN GREAT ROOM. NEWER PATIO DOOR WITH BLINDS BETWEEN THE GLASS. PERFECT OPEN CONCEPT FLOOR PLAN WITH EASE OF FLOW FROM ROOM TO ROOM. SPLIT BEDROOM FLOOR PLAN FOR ADDITIONAL PRIVACY. ALL BEDROOMS HAVE GENEROUS CLOSETS PLUS CLOSET ORGANIZERS FOR MAXIMUM STORAGE. FORMAL DINING ROOM/HOME OFFICE OFF OF FOYER. BEAUTIFUL WOODED LOT, PATIO BLOCKS AROUND THE ENTIRE HOME FOR EASE OF WALKING. LOVELY FRONT PORCH FOR MORNING SUNRISES.

8. 2020-03-08
   listed $249,900 Active 883-char remark

   Show marketing remark (883 chars)

   WELCOMING CENTER HALL SPRAWLING RANCH. PRIDE OF OWNERSHIP AND BEAUTIFULLY APPOINTED. STEADILY UPDATED THROUGHOUT THE YEARS. HVAC/2019, KITCHEN UPDATED WITH HARDWOOD CABINETRY, GRANITE, CUSTOM BACKSPLASH AND STAINLESS-STEEL APPLIANCES 2014. KITCHEN IS OPEN TO THE GREAT ROOM EATING AREA. MASTER BATHROOM WITH CERAMIC WALK IN SHOWER WITH BUILT IN BENCH, HEAT LAMP AND BARS FOR SAFETY 2013. CERAMIC TILE IN ALL THE HARD SURFACE ROOMS OF THE HOUSE. GAS FIREPLACE IN GREAT ROOM. NEWER PATIO DOOR WITH BLINDS BETWEEN THE GLASS. PERFECT OPEN CONCEPT FLOOR PLAN WITH EASE OF FLOW FROM ROOM TO ROOM. SPLIT BEDROOM FLOOR PLAN FOR ADDITIONAL PRIVACY. ALL BEDROOMS HAVE GENEROUS CLOSETS PLUS CLOSET ORGANIZERS FOR MAXIMUM STORAGE. FORMAL DINING ROOM/HOME OFFICE OFF OF FOYER. BEAUTIFUL WOODED LOT, PATIO BLOCKS AROUND THE ENTIRE HOME FOR EASE OF WALKING. LOVELY FRONT PORCH FOR MORNING SUNRISES.

9. 1993-08-16
   soldstatus $20,000

ⓘ 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: $4,198 · $350/mo
• Projected year-2 tax: $4,829 · $402/mo
• Expected delta: +$631/yr (+$53/mo · 15.0%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,676
• − Mortgage interest: −$19,605
• − Property taxes: −$4,198
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,654
• − Management: −$3,654
• − Depreciation: −$10,182
• Taxable income: $2,632
• Est. tax owed @ 24.0%: −$632
• After-tax cash flow: $7,479/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: Avon Lake City
• NCES district ID: 3904812
• Math proficiency: 78% ▼ -10.00%
• Reading proficiency: 80% ▼ -6.00%
• Median HH income: $79,608
• Composite: 69.66/100
• National rank: #296
• State rank: #48 of 656 in OH

Livability — Avon Lake

• Score: 84/100
• State rank: #52
• US rank: #736

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Avon Lake, OH
• County: Lorain County · 219,437 people
• City population: 25,752
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 25,752
• Household income: $115,567
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 290.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 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: ▼ -148.16%
• Current HPI: 207.1177
• 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

+1650.0% since first listed

9 events — show timeline

• 2026-04-27 Pending — MLSNOW
• 2026-04-26 Listed $350,000 MLSNOW
• 2020-05-15 Sold (Public Records) $225,000 Public Records
• 2020-05-15 Sold (MLS) $225,000 MLSNOW
• 2020-04-13 Pending — MLSNOW
• 2020-04-06 Contingent — MLSNOW
• 2020-03-30 Price Changed $234,900 MLSNOW
• 2020-03-08 Listed $249,900 MLSNOW
• 1993-08-16 Sold (Public Records) $20,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $4,198 · +7.0% YoY. Source: county tax records.