514 W 20th St · Lorain, OH 44052

$120,000

4 bd · 2.0 ba · 1,712 sqft · MultiFamily public records · 100 Days on market

Built 1923 4,356 sqft lot Est $155k · 23% 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment opportunity, or owner occupant wanted! This duplex on a quiet street is ready for you. The bottom unit has a long-term tenant, and the top unit is ready for you to customize. The bottom tenant pays $950 monthly creating strong cash flow! Three bedrooms and one bath on the first floor, and two bedrooms and one bath on the top floor. Close to everything Lorain has to offer, this is one you don't want to miss. The home is being sold as-is.

Key facts

• 4,356 sq ft lot
• Built 1923
• Listed 100 days

🏷️ Possibly a rental listed for sale. The $120,000 price doesn't fit this home's estimated sale value (~$155,337) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $933 ($11k/yr) — positive. Per door: $466/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 5.7% 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: amenities D, health & safety D, crime F.
• 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.
• Zoned schools: Hawthorne Elementary School (math 12% / reading 32%, grade F, #1,242 of 1,584 statewide, top 80%, 251 students, 0% FRL); General Johnnie Wilson Middle School (math 14% / reading 24%, grade F, #614 of 654 statewide, top 94%, 472 students, 0% FRL); Lorain High School (math 17% / reading 34%, grade F, #638 of 781 statewide, top 82%, 1,722 students, 0% FRL) — zoned schools average 0% FRL vs 80% district-wide (80 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 135 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).
• At $2,192/mo this rent would consume 58% of the median local household income ($45k/yr) (locally 1423% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $34k; list at $120k implies a 253% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.83% ✓
• Cap rate: 15.62%
• Cash-on-cash: 33.31%
• DSCR: 2.48
• GRM: 4.6

CMA / ARV

• ARV (median comp): $155,337
• List price: $120,000
• Delta: -22.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1031 W 9th St	0.74mi	4/2.0	1,708 (-0%)	8mo	$87,000	$51	58
1031 W 17th St	0.45mi	4/2.0	1,848 (+8%)	16mo	$64,000	$35	52
1234 W 21st St	0.75mi	4/2.0	1,500 (-12%)	9mo	$100,000	$67	37

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: 29.8%
• Equity multiple: 2.26×
• Total profit: $42,397
• Equity at exit: $17,892

10-year hold

• IRR: 37.7%
• Equity multiple: 4.68×
• Total profit: $123,656
• Equity at exit: $10,375

Cash invested: $33,600 (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: 135
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,192 high
• Mortgage (P&I): −$629
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $933

Break-even live

Break-even rent $1,012

Max offer price $120,000

Occupancy floor 52%

Sensitivity live

Price	-10% $1,001	-5% $967	+0% $933	+5% $899	+10% $865
Rent	-10% $759	-5% $846	+0% $933	+5% $1,019	+10% $1,106
Rate	-1.0pp $993	-0.5pp $963	base $933	+0.5pp $901	+1.0pp $870

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,192
Total (2 units)			$2,192

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	25d	1	0.09mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	4d	1	0.21mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	25d	1	0.23mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	45d	1	0.31mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	45d	1	0.31mi
2307 Washington Ave Lorain, OH	1.0–3.0	1.0	880	$1,499	$1.70	3d	1	0.41mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	5d	1	0.48mi
1037 Washington Ave Lorain, OH	4.0	2.0	1567	$1,600	$1.02	18d	1	0.58mi
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	45d	1	0.58mi
1055 W 12th St Lorain, OH	4.0	1.0	1206	$1,750	$1.45	25d	1	0.60mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	45d	1	0.66mi
760 W 9th St Lorain, OH	4.0	2.0	1987	$1,600	$0.81	45d	1	0.68mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	25d	1	0.69mi
1322 Brownell Ave Lorain, OH	4.0	1.0	1571	$1,570	$1.00	45d	1	0.83mi
200 E 31st St Lorain, OH	5.0	2.0	1562	$1,550	$0.99	3d	1	0.85mi
2909 Denver Ave Lorain, OH	3.0	1.0	1597	$1,400	$0.88	45d	1	0.89mi
3132 Elyria Ave Lorain, OH	3.0	1.5	1109	$1,250	$1.13	45d	1	0.90mi
1413 W 12th St Lorain, OH	4.0	1.5	1725	$1,700	$0.99	45d	1	0.98mi
1028 W 5th St Lorain, OH	3.0	2.0	1250	$1,650	$1.32	45d	1	1.03mi
1223 W 5th St Lorain, OH	3.0	2.0	1152	$1,150	$1.00	14d	1	1.11mi
1239 W 5th St Unit 1 Lorain, OH	3.0	1.0	1200	$1,100	$0.92	25d	1	1.14mi

Listing history 16 events

1. 2026-06-21
   days on market $120,000 Active 100 DOM
2. 2026-06-18
   days on market $120,000 Active 97 DOM
3. 2026-06-17
   days on market $120,000 Active 96 DOM
4. 2026-06-16
   days on market $120,000 Active 95 DOM
5. 2026-06-15
   days on market $120,000 Active 94 DOM
6. 2026-06-13
   days on market $120,000 Active 92 DOM
7. 2026-06-13
   days on market $120,000 Active 91 DOM
8. 2026-06-09
   days on market $120,000 Active 88 DOM
9. 2026-06-08
   days on market $120,000 Active 87 DOM
10. 2026-06-07
    days on market $120,000 Active 86 DOM
11. 2026-06-03
    days on market $120,000 Active 82 DOM
12. 2026-06-02
    days on market $120,000 Active 81 DOM
13. 2026-06-01
    days on market $120,000 Active 80 DOM
14. 2026-05-31
    days on market $120,000 Active 79 DOM
15. 2026-03-13
    listed $120,000 Active 451-char remark

    Show marketing remark (451 chars)

    Investment opportunity, or owner occupant wanted! This duplex on a quiet street is ready for you. The bottom unit has a long-term tenant, and the top unit is ready for you to customize. The bottom tenant pays $950 monthly creating strong cash flow! Three bedrooms and one bath on the first floor, and two bedrooms and one bath on the top floor. Close to everything Lorain has to offer, this is one you don't want to miss. The home is being sold as-is.

16. 2005-01-07
    soldstatus $34,000

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $1,655 · $138/mo
• Expected delta: +$217/yr (+$18/mo · 15.1%)

ⓘ 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 ≥97°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: $26,304
• − Mortgage interest: −$6,722
• − Property taxes: −$1,438
• − Insurance: −$600
• − Repairs & maintenance: −$2,104
• − Management: −$2,104
• − Depreciation: −$3,491
• Taxable income: $9,845
• Est. tax owed @ 24.0%: −$2,363
• After-tax cash flow: $8,828/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

+252.9% since first listed

2 events — show timeline

• 2026-03-13 Listed $120,000 MLSNOW
• 2005-01-07 Sold (Public Records) $34,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $1,438 · -4.9% YoY. Source: county tax records.