1058 W 29th St · Lorain, OH 44052

$80,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 3 Days on market

Built 1962 6,534 sqft lot Est $152k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Searching for a 3-bed ranch home in Lorain with room to add value? Welcome to 1058 W 29th Street, a 3-bedroom, 1-bath ranch offering 1,056 square feet, a detached garage, and a waterproofed basement with warranty. Priced at $80,000, this property presents an opportunity for investors, renovators, or buyers seeking an affordable home with potential. 1058 W 29th Street, Lorain, OH 44052 Ranch-style single-family home Built in 1962 3 bedrooms, 1 full bath 1,056 square feet Approximately 0.15-acre lot Detached garage plus driveway parking Waterproofed basement with warranty provided Lorain City School District 2025 taxes approximately $1,348 This home offers the convenience of single-floor liv

Key facts

• Detached garage
• 6,534 sq ft lot
• Garage

Tags

• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 12.8% vs local median 5.9% in Lorain — 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 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities D, health & safety D.
• Lorain City (suburban): math 13% / reading 26% proficiency, ranked #633 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.1%/yr); 129 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 34% of the median local income ($45k/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 + 4.1% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.59% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.40%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $152,064
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3116 Chris Ave	0.25mi	3/1.0	1,120 (+6%)	4mo	$170,000	$152	75
3209 Tressa Ave	0.40mi	2/2.0 (-1)	1,089 (+3%)	0mo	$206,000	$189	67
1134 W 19th St	0.61mi	3/1.5	1,068 (+1%)	2mo	$160,000	$150	66
2347 Oberlin Ave	0.31mi	2/1.0 (-1)	1,154 (+9%)	4mo	$139,225	$121	62
1618 W 28th St	0.57mi	3/1.5	1,128 (+7%)	5mo	$174,225	$154	56
1935 Hamilton Ave	0.55mi	3/1.0	1,160 (+10%)	3mo	$165,000	$142	55
1207 W 38th St	0.60mi	4/2.0 (+1)	1,120 (+6%)	4mo	$200,000	$179	50
2349 Kelly Pl	0.73mi	3/1.0	1,164 (+10%)	1mo	$110,210	$95	48
1725 Washington Ave	0.73mi	2/1.0 (-1)	1,127 (+7%)	3mo	$136,900	$121	47
2246 Utica Ave	0.59mi	3/2.0	1,170 (+11%)	6mo	$162,500	$139	46
1404 Birch Ct	0.59mi	2/1.5 (-1)	1,176 (+11%)	2mo	$169,500	$144	45
1323 W 20th St	0.62mi	3/1.0	1,199 (+14%)	5mo	$124,000	$103	44

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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 1.73×
• Total profit: $16,293
• Equity at exit: $11,928

10-year hold

• IRR: 27.0%
• Equity multiple: 3.50×
• Total profit: $56,023
• 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 44052

• Home prices YoY: -28.1%
• Rents YoY: 4.1%
• Active inventory: 129
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,268 high
• Mortgage (P&I): −$420
• Tax from tax record: −$112 /mo · $1,348/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $437

Break-even live

Break-even rent $715

Max offer price $80,000

Occupancy floor 61%

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 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
938 S Central Dr Lorain, OH	2.0	1.0	850	$950	$1.12	43d	1	0.28mi
942 S Central Dr Lorain, OH	2.0	1.0	850	$1,000	$1.18	23d	1	0.29mi
944 S Central Dr Lorain, OH	3.0	1.0	950	$1,250	$1.32	23d	1	0.29mi
2307 Washington Ave Lorain, OH	1.0–3.0	1.0	880	$1,499	$1.70	1d	1	0.33mi
939 W 22nd St Lorain, OH	3.0	1.0	950	$1,295	$1.36	43d	1	0.42mi
1312 W 37th St Lorain, OH	2.0	1.0	810	$1,200	$1.48	43d	1	0.59mi
509 W 24th St Lorain, OH	2.0	1.0	1036	$1,400	$1.35	43d	1	0.60mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	23d	1	0.63mi
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	43d	1	0.65mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	23d	1	0.66mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	43d	1	0.72mi
117 W 30th St Lorain, OH	2.0	1.0	1344	$925	$0.69	43d	1	0.85mi
1421 Long Ave Lorain, OH	2.0	1.0	719	$1,140	$1.59	43d	1	0.88mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	43d	1	0.89mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	2d	1	0.89mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	23d	1	0.94mi
1055 W 12th St Lorain, OH	4.0	1.0	1206	$1,750	$1.45	23d	1	0.96mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	43d	1	0.97mi
521 W 14th St Lorain, OH	3.0	1.0	968	$950	$0.98	43d	1	0.97mi
2550 Elyria Ave Unit 2 Lorain, OH	3.0	1.0	765	$1,200	$1.57	7d	1	1.04mi
1053 Washington Ave Unit 4 Lorain, OH	3.0	1.0	1000	$899	$0.90	43d	1	1.05mi
2349 Elyria Ave Unit 2 Lorain, OH	2.0	1.0	800	$925	$1.16	43d	1	1.06mi
3132 Elyria Ave Lorain, OH	3.0	1.5	1109	$1,250	$1.13	43d	1	1.07mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	4d	1	1.10mi
4640 Oberlin Ave Unit B5 Lorain, OH	2.0	1.0	800	$875	$1.09	43d	1	1.13mi
4638 Oberlin Ave Lorain, OH	2.0	1.0	800	$925	$1.16	1d	1	1.14mi
1712 W 12th St Lorain, OH	3.0	1.0	996	$1,295	$1.30	23d	1	1.15mi
1031 W 9th St Lorain, OH	2.0	1.0	854	$895	$1.05	23d	1	1.16mi
612 E 33rd St Lorain, OH	3.0	1.0	960	$995	$1.04	43d	1	1.23mi
2100 Tower Blvd Unit 2100 101 Lorain, OH	2.0	1.0	878	$850	$0.97	11d	1	1.34mi
1223 W 5th St Lorain, OH	3.0	2.0	1152	$1,150	$1.00	12d	1	1.45mi
1239 W 5th St Unit 1 Lorain, OH	3.0	1.0	1200	$1,100	$0.92	23d	1	1.45mi
1028 W 5th St Lorain, OH	3.0	2.0	1250	$1,650	$1.32	43d	1	1.48mi

Listing history 3 events

1. 2026-06-13
   statusdays on market $80,000 Pending 3 DOM
2. 2026-06-08
   remarks 699-char remark
3. 2026-06-08
   listed $80,000 Active 1 DOM

ⓘ 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: $1,348 · $112/mo
• Projected year-2 tax: $1,348 · $112/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,221
• − Mortgage interest: −$4,481
• − Property taxes: −$1,348
• − Insurance: −$400
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$2,327
• Taxable income: $4,229
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $4,227/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: Lorain City
• NCES district ID: 3904426
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $32,823
• Composite: 15.81/100
• National rank: #9266
• State rank: #633 of 656 in OH

Livability — Lorain

• Score: 67/100
• State rank: #595
• US rank: #10183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lorain, OH
• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 28,282
• Household income: $45,023
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1423.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 49% Hispanic / Latino 24% Black 21% Two or more races 16%
• Hispanic origin (detail): Mexican 5% Puerto Rican 17%
• Common ancestry: Romanian 6% Lithuanian 1% Iranian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14%

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: ▼ -73.23%
• Current HPI: 186.9657
• Rent YoY: ▲ 4.09%
• 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

1 event — show timeline

• 2026-06-08 Listed $80,000 MLSNOW

Property tax history

-0.3%/yr

Latest (2025): $1,348 · -4.9% YoY. Source: county tax records.