27 Union St · Oberlin, OH 44074

$247,400

3 bd · 2.5 ba · 1,778 sqft · SingleFamily public records · 106 Days on market

Built 1991 6,098 sqft lot $139/sqft · 6% below area Est $264k · 6% under

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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 +10.4/15.0
• Cash flow +9.5/30.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• DSCR +2.7/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newer construction (1991) property just minutes from downtown Oberlin, schools and campus with a newer metal roof. Designed with accessibility in mind, this home offers first-floor living with wide hallways, two spacious bedrooms and full bath on the main level. The bright living room flows into an eat-in kitchen with convenient laundry. Upstairs, three additional bedrooms are filled with natural light and space. Enjoy the backyard patio for outdoor dining and relaxing.

Key facts

• Backyard patio
• First-floor living
• Eat-in kitchen

Tags

• NEWER METAL ROOF
• FIRST-FLOOR LIVING
• EAT-IN KITCHEN
• BACKYARD PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $247k.

Deal economics

• At list price, monthly cash flow is $-170 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (25.3% below list).
• Recommended offer: $185k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.0% in Oberlin — 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 83/100 on livability (#62 in OH, #923 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, amenities A; Watch: employment D+, commute F.
• Oberlin City Schools (town): math 41% / reading 56% proficiency, ranked #447 of 656 in OH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 30% of the median local income ($74k/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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $126k; list at $247k implies a 96% gain — meaningful room to come down on a strong offer.

Recommended offer $184,769 (25.3% 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 106 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.75% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.95%
• DSCR: 0.87
• GRM: 11.2

CMA / ARV

• ARV (median comp): $264,399
• List price: $247,400
• Delta: -6.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 N Main St	0.04mi	4/2.5 (+1)	1,971 (+11%)	1mo	$265,000	$134	75
319 N Prospect St	0.52mi	3/2.0	1,815 (+2%)	10mo	$324,000	$179	63
315 Eastern Ave	0.60mi	3/2.5	1,800 (+1%)	13mo	$310,000	$172	60
311 N Prospect St	0.51mi	3/2.0	1,692 (-5%)	9mo	$250,000	$148	59
62 N Prospect St	0.62mi	3/1.5	1,696 (-5%)	2mo	$260,000	$153	57
146 E College St	0.53mi	3/2.5	1,910 (+7%)	10mo	$285,000	$149	55
272 Hollywood St	0.45mi	4/2.0 (+1)	1,672 (-6%)	10mo	$295,000	$176	54
34 N Park St	0.48mi	4/2.0 (+1)	1,898 (+7%)	10mo	$100,000	$53	51
118 Hollywood St	0.50mi	4/2.5 (+1)	2,000 (+12%)	0mo	$330,000	$165	50
366 W Lorain St	0.69mi	4/1.5 (+1)	1,697 (-5%)	8mo	$239,000	$141	44
223 Eastern Ave	0.58mi	3/2.5	1,960 (+10%)	16mo	$327,500	$167	43
235 Elm St	0.67mi	4/2.0 (+1)	2,014 (+13%)	7mo	$330,000	$164	34

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: -21.2%
• Equity multiple: 0.26×
• Total profit: $-50,958
• Equity at exit: $36,888

10-year hold

• IRR: -14.8%
• Equity multiple: 0.16×
• Total profit: $-58,426
• Equity at exit: $21,391

Cash invested: $69,272 (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 44074

• Home prices YoY: -25.8%
• Active inventory: 38
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,848 medium
• Mortgage (P&I): −$1,297
• Tax from tax record: −$230 /mo · $2,754/yr
• Insurance: −$103
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-170

Break-even live

Break-even rent $2,063

Max offer price $217,314

Occupancy floor —

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: $61,850
• Closing costs: $7,422
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $247,400 Active 106 DOM
2. 2026-06-17
   days on market $247,400 Active 105 DOM
3. 2026-06-16
   days on market $247,400 Active 104 DOM
4. 2026-06-15
   days on market $247,400 Active 103 DOM
5. 2026-06-13
   days on market $247,400 Active 101 DOM
6. 2026-06-13
   remarks 505-char remark
7. 2026-06-13
   pricedays on market $247,400 Active 100 DOM
8. 2026-06-09
   days on market $249,900 Active 97 DOM
9. 2026-06-08
   days on market $249,900 Active 96 DOM
10. 2026-06-07
    days on market $249,900 Active 95 DOM
11. 2026-06-05
    days on market $249,900 Active 92 DOM
12. 2026-06-03
    days on market $249,900 Active 91 DOM
13. 2026-06-02
    days on market $249,900 Active 90 DOM
14. 2026-06-01
    days on market $249,900 Active 89 DOM
15. 2026-05-31
    days on market $249,900 Active 88 DOM
16. 2026-03-04
    listed $249,900 Active 474-char remark

    Show marketing remark (474 chars)

    Newer construction (1991) property just minutes from downtown Oberlin, schools and campus with a newer metal roof. Designed with accessibility in mind, this home offers first-floor living with wide hallways, two spacious bedrooms and full bath on the main level. The bright living room flows into an eat-in kitchen with convenient laundry. Upstairs, three additional bedrooms are filled with natural light and space. Enjoy the backyard patio for outdoor dining and relaxing.

17. 2017-08-29
    soldstatus $126,500 Sold 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

18. 2017-08-29
    soldstatus $126,500

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

19. 2017-08-20
    status Pending 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

20. 2017-08-06
    historical Contingent 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

21. 2017-07-22
    status Active 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

22. 2017-07-12
    historical 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

23. 2017-07-07
    historical Contingent 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

24. 2017-06-23
    status Active 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

25. 2017-04-21
    listed $139,000 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

26. 2017-04-21
    historical 831-char remark

    Show marketing remark (831 chars)

    A hard-to-find newer construction home close to downtown, schools and campus! This unique home built in 1991 has near-grade level first floor and offers wheelchair-friendly design and layout with bedrooms and a spacious full bath on each of its two floors offering many lifestyle possibilities. The front and side entryway lead into a spacious living room and eat-in kitchen with a laundry enclosure. A wide hallway leads into the first-floor bedroom and adjacent study/den which can serve as your perfect guest suite! Upstairs is accessed by a wide beautiful staircase leading to three bedrooms with plenty of windows that offer light and cross-ventilation. The backyard has a patio large enough for outdoor dining and entertaining. Great low-maintenance and move-in ready with a one-year home warranty. Schedule your visit today!

27. 2007-07-27
    soldstatus $120,000
28. 1997-03-27
    soldstatus $36,500

ⓘ 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: $2,754 · $230/mo
• Projected year-2 tax: $3,307 · $276/mo
• Expected delta: +$553/yr (+$46/mo · 20.1%)

ⓘ 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 ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,172
• − Mortgage interest: −$13,858
• − Property taxes: −$2,754
• − Insurance: −$1,237
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$7,197
• Taxable loss: −$6,422
• Est. tax savings @ 24.0%: +$1,541
• After-tax cash flow: $-503/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: Oberlin City Schools
• NCES district ID: 3904459
• Math proficiency: 41% ▼ -21.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $54,514
• Composite: 41.92/100
• National rank: #3362
• State rank: #447 of 656 in OH

Livability — Oberlin

• Score: 83/100
• State rank: #62
• US rank: #923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oberlin, OH
• County: Lorain · 305,041 people
• City population: 11,684
• Metro: Cleveland, OH
• Population (ZIP): 11,684
• Household income: $73,697
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 7.1

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 (75%)
• Race & ethnicity: White 75% Two or more races 11% Black 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -72.36%
• Current HPI: 208.1653
• Rent YoY: —
• Metro: —
• 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

+584.7% since first listed

13 events — show timeline

• 2026-03-04 Listed $249,900 MLSNOW
• 2017-08-29 Sold (Public Records) $126,500 Public Records
• 2017-08-29 Sold (MLS) $126,500 MLSNOW
• 2017-08-20 Pending — MLSNOW
• 2017-08-06 Contingent — MLSNOW
• 2017-07-22 Relisted — MLSNOW
• 2017-07-12 Listing Removed — MLSNOW
• 2017-07-07 Contingent — MLSNOW
• 2017-06-23 Relisted — MLSNOW
• 2017-04-21 Listing Removed — MLSNOW
• 2017-04-21 Listed $139,000 MLSNOW
• 2007-07-27 Sold (Public Records) $120,000 Public Records
• 1997-03-27 Sold (Public Records) $36,500 Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,754 · -1.8% YoY. Source: county tax records.