526 East Ave · Elyria, OH 44035

$79,999

4 bd · 2.0 ba · — sqft · MultiFamily · 130 Days on market

Built 1900 Fair condition 0.26 ac lot ↓ 33% 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
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• 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

Big money maker. Earn up to $2,000/mo in rental income with this duplex. Minor turnover work needed in the downstairs unit. Upstairs unit is rent ready. Email agent for market rent roll & video tour along with complete investment analysis, drone footage, information on the mechanical systems of the building. Local & out of state investors welcome! Professional property management available.

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2-story building
• Construction: Vinyl siding; Asphalt shingle roof; Built according to public records
• Exterior features: Lot size approximately 0.26 acres

Interior

• Bedrooms: Two 2-bedroom units (each unit with 2 bedrooms)
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating
• Interior features: Basement included (type: Other); Total of 8 rooms

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $527/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.1% 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; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 43% 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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $40k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $70,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.54% ✓
• Cap rate: 22.12%
• Cash-on-cash: 56.51%
• DSCR: 3.51
• GRM: 3.3

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 6th St	0.08mi	4/2.0	1,922	4mo	$156,500	$81	80
241 7th St	0.14mi	4/2.0	—	3mo	$73,500	—	78
911 East Ave	0.27mi	4/2.0	—	11mo	$69,900	—	65
317 West Ave	0.40mi	4/3.0	2,112	2mo	$119,000	$56	63
1120 East Ave	0.41mi	4/3.0	2,680	6mo	$145,000	$54	60
411 9th St	0.46mi	3/2.0 (-1)	—	4mo	$75,000	—	58
338 Denison Ave	0.58mi	4/2.0	3,206	6mo	$225,000	$70	56
804 West Ave	0.38mi	3/2.0 (-1)	1,591	12mo	$28,000	$18	55
338 10th St	0.43mi	5/3.0 (+1)	—	6mo	$135,000	—	54
442 6th St	0.45mi	3/3.0 (-1)	—	8mo	$109,900	—	51
312 16th St	0.75mi	4/2.0	1,632	9mo	$129,900	$80	45
219 Clark St	0.75mi	4/2.0	—	9mo	$100,000	—	45

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: 59.1%
• Equity multiple: 3.78×
• Total profit: $62,193
• Equity at exit: $11,928

10-year hold

• IRR: 65.2%
• Equity multiple: 8.86×
• Total profit: $176,003
• Equity at exit: $6,917

Cash invested: $22,400 (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: 6.6×

Monthly cashflow live

• Estimated rent: $2,035 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $1,055

Break-even live

Break-even rent $700

Max offer price $79,999

Occupancy floor 43%

Sensitivity live

Price	-10% $1,110	-5% $1,082	+0% $1,055	+5% $1,027	+10% $1,000
Rent	-10% $894	-5% $974	+0% $1,055	+5% $1,135	+10% $1,216
Rate	-1.0pp $1,095	-0.5pp $1,075	base $1,055	+0.5pp $1,034	+1.0pp $1,013

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,034
Total (2 units)			$2,035

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 9th St Elyria, OH	3.0	1.0	—	$1,450	—	22d	1	0.46mi
334 13th St Elyria, OH	3.0	1.0	—	$1,200	—	8d	1	0.63mi
222 Georgia Ave Elyria, OH	3.0	2.5	1850	$1,750	$0.95	2d	1	0.69mi
121 Monroe St Elyria, OH	3.0	1.0	—	$1,650	—	24d	1	0.93mi
518 Lake Ave Unit 100 Rush Elyria, OH	3.0	1.0	1248	$1,099	$0.88	5d	1	1.29mi
100 Rush St Elyria, OH	3.0	1.0	1248	$1,099	$0.88	8d	1	1.30mi

Listing history 19 events

1. 2026-06-08
   statusdays on market $79,999 Pending 130 DOM
2. 2026-06-07
   days on market $79,999 Active 129 DOM
3. 2026-06-03
   days on market $79,999 Active 125 DOM
4. 2026-06-02
   days on market $79,999 Active 124 DOM
5. 2026-06-01
   days on market $79,999 Active 123 DOM
6. 2026-05-31
   days on market $79,999 Active 122 DOM
7. 2026-05-21
   price $79,999
8. 2026-05-07
   price $84,999
9. 2026-04-21
   price $89,999
10. 2026-03-28
    price $94,999
11. 2026-03-07
    status Active
12. 2026-01-20
    status Pending
13. 2026-01-15
    price $99,999
14. 2026-01-05
    price $109,999
15. 2025-12-23
    status Active
16. 2025-12-17
    status Pending
17. 2025-12-08
    status Active
18. 2025-08-12
    listed $119,999
19. 2025-08-12
    historical

ⓘ 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 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: $24,420
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − Depreciation: −$2,327
• Taxable income: $12,104
• Est. tax owed @ 24.0%: −$2,905
• After-tax cash flow: $9,752/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and updates to improve its condition and increase its resale and rental value.

Repairs flagged

• Major roof — Visible damage and potential leaks.
• Major siding — Peeling paint and possible rot.
• Major landscaping — Overgrown and unkempt, no visible curb appeal.
• Major fencing — Sections missing or damaged.
• Major kitchen and bathrooms — Outdated and in need of updates.
• Major flooring — Worn and in need of replacement.
• Major interior walls and paint — Signs of wear and potential structural issues.
• Major HVAC and mechanical systems — Outdated and in need of updates.
• Minor foundation and structure — Further inspection needed to confirm condition.

Value-add opportunities

• Both roof replacement — Fixes major structural issue and improves curb appeal.
• Both siding repair/replacement — Improves exterior appearance and structural integrity.
• Both landscaping and fencing repair — Enhances curb appeal and property value.
• Both kitchen and bathroom updates — Modernizes interior and improves functionality.
• Both flooring replacement — Enhances interior appearance and comfort.
• Both HVAC and mechanical system upgrades — Improves comfort and energy efficiency.
• Both interior wall and paint repairs — Enhances interior appearance and structural integrity.
• Both foundation and structure inspection — Ensures structural integrity and safety.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Visible damage and potential leaks.	Major	$15,000–50,000
siding · Peeling paint and possible rot.	Major	$15,000–50,000
landscaping · Overgrown and unkempt, no visible curb appeal.	Major	$15,000–50,000
fencing · Sections missing or damaged.	Major	$15,000–50,000
kitchen and bathrooms · Outdated and in need of updates.	Major	$15,000–50,000
flooring · Worn and in need of replacement.	Major	$15,000–50,000
interior walls and paint · Signs of wear and potential structural issues.	Major	$15,000–50,000
HVAC and mechanical systems · Outdated and in need of updates.	Major	$15,000–50,000
foundation and structure · Further inspection needed to confirm condition.	Minor	$500–3,000
Total estimated repair cost · 9 items		$120,500–403,000

Value-add ROI direction

• Both roof replacement — Fixes major structural issue and improves curb appeal. ↑
• Both siding repair/replacement — Improves exterior appearance and structural integrity. ↑
• Both landscaping and fencing repair — Enhances curb appeal and property value. ↑
• Both kitchen and bathroom updates — Modernizes interior and improves functionality. ↑
• Both flooring replacement — Enhances interior appearance and comfort. ↑
• Both HVAC and mechanical system upgrades — Improves comfort and energy efficiency. ↑
• Both interior wall and paint repairs — Enhances interior appearance and structural integrity. ↑
• Both foundation and structure inspection — Ensures structural integrity and safety. ↑

ⓘ 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: 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

-33.3% since first listed

13 events — show timeline

• 2026-05-21 Price Changed $79,999 MLSNOW
• 2026-05-07 Price Changed $84,999 MLSNOW
• 2026-04-21 Price Changed $89,999 MLSNOW
• 2026-03-28 Price Changed $94,999 MLSNOW
• 2026-03-07 Relisted — MLSNOW
• 2026-01-20 Pending — MLSNOW
• 2026-01-15 Price Changed $99,999 MLSNOW
• 2026-01-05 Price Changed $109,999 MLSNOW
• 2025-12-23 Relisted — MLSNOW
• 2025-12-17 Pending — MLSNOW
• 2025-12-08 Relisted — MLSNOW
• 2025-08-12 Listing Removed — MLSNOW
• 2025-08-12 Listed $119,999 MLSNOW