5401 Fleming Ave · Lorain, OH 44055

$110,000

4 bd · 1.0 ba · 1,310 sqft · SingleFamily public records · 6 Days on market

Built 1900 3,049 sqft lot Est $161k · 32% under

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.8/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Some improvements made, more needed. Lots of room in this home! Make offers! SOLD AS-IS CONDITION. Purchase this property for as little as 3% down. Seller mandates only offers from owner occupants or public entities (and their designated partners) will be considered within the first 15 days of it being on the market. All other offers will be considered AFTER midnight on the 16th day. Buyer responsible for due diligence and inquiry of all property info.

Key facts

• Easy access
• Front porch
• 3,049 sq ft lot

Tags

• FRONT PORCH
• FLEXIBLE LIVING SPACES
• FULLY FENCED BACKYARD
• EASY ACCESS

Property features AI

Finance

• HOA & community: Playground in the community

Exterior

• Parking: Driveway with gravel; No garage; Outside parking
• Utilities: Public water; Public sewer
• Home design: 2 stories; Aluminum siding; Shingle/asphalt/flat roof; Block foundation; Has a view
• Construction: Built (year from public records); Aluminum siding construction; Asphalt/shingle/flat roof; Block foundation
• Exterior features: Front porch; Balcony; Fire pit; Shed(s); Full chain link fence in back yard; Back yard; City lot; Flat, level, rectangular lot (less than half acre)

Interior

• Kitchen: Built-in oven; Range; Dishwasher
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Forced air heating; Central air; Ceiling fan(s) for cooling
• Interior features: Ceiling fan(s); Eat-in kitchen; Has basement (full, unfinished)
• Laundry & utility: Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.6% 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.
• Clearview Local (suburban): math 21% / reading 44% proficiency, ranked #574 of 656 in OH (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 38% of the median local income ($41k/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 $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 34y 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 $30k; list at $110k implies a 271% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $110,000

Questions for the listing agent

1. Built in 1900 — 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: 1.18% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $161,130
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4724 Gary Ave	0.35mi	4/2.0	1,272 (-3%)	19mo	$129,000	$101	59
4605 Gary Ave	0.48mi	3/1.0 (-1)	1,269 (-3%)	12mo	$172,000	$136	58
2245 N Ridge Rd E	0.15mi	3/1.0 (-1)	1,422 (+8%)	20mo	$70,000	$49	58
5268 Liberty Ave	0.08mi	3/2.0 (-1)	1,229 (-6%)	23mo	$157,000	$128	58
5048 Grove Ave	0.30mi	3/1.0 (-1)	1,182 (-10%)	10mo	$105,000	$89	56
2893 W River Rd N	0.40mi	3/1.0 (-1)	1,400 (+7%)	15mo	$215,000	$154	52
4535 Norfolk Ave	0.69mi	3/2.0 (-1)	1,294 (-1%)	9mo	$170,000	$131	49
2365 Eschtruth St	0.13mi	3/2.0 (-1)	1,486 (+13%)	19mo	$151,000	$102	47
4543 Norfolk Ave	0.68mi	3/1.5 (-1)	1,424 (+9%)	4mo	$174,900	$123	44
41629 Northwood St	0.67mi	3/2.0 (-1)	1,456 (+11%)	2mo	$128,000	$88	40
4308 Meadow Ln	0.75mi	4/1.5	1,392 (+6%)	21mo	$175,000	$126	35

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-4,067
• Equity at exit: $16,401

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $14,307
• Equity at exit: $9,511

Cash invested: $30,800 (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 44055

• Home prices YoY: -30.5%
• Active inventory: 81
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,293 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$184 /mo · $2,203/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $215

Break-even live

Break-even rent $1,021

Max offer price $110,000

Occupancy floor 78%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2484 E 38th St Lorain, OH	3.0	1.5	1101	$1,295	$1.18	44d	1	1.11mi
3237 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	21d	1	1.46mi
3235 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	21d	1	1.46mi
3251 Camden Ave Lorain, OH	3.0	1.0	1090	$995	$0.91	44d	1	1.49mi

Listing history 6 events

1. 2026-06-18
   days on market $110,000 Active 6 DOM
2. 2026-06-17
   days on market $110,000 Active 5 DOM
3. 2026-06-16
   days on market $110,000 Active 4 DOM
4. 2026-06-15
   days on market $110,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $110,000 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: $2,203 · $184/mo
• Projected year-2 tax: $2,203 · $184/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 ≥99°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: $15,517
• − Mortgage interest: −$6,162
• − Property taxes: −$2,203
• − Insurance: −$550
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$3,200
• Taxable income: $920
• Est. tax owed @ 24.0%: −$221
• After-tax cash flow: $2,362/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: Clearview Local
• NCES district ID: 3904813
• Math proficiency: 21% ▼ -29.00%
• Reading proficiency: 44% ▼ -13.00%
• Median HH income: $31,733
• Composite: 26.44/100
• National rank: #7219
• State rank: #574 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

• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 20,043
• Household income: $40,636
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1140.0

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 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 24% Black 14%
• Hispanic origin (detail): Mexican 7% Puerto Rican 27%
• Common ancestry: Romanian 5% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala
• Languages at home: 75% English-only · Spanish 23%

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: ▼ -79.26%
• Current HPI: 180.9309
• 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

+267.9% since first listed

11 events — show timeline

• 2026-06-12 Listed $110,000 MLSNOW
• 2010-06-11 Sold (MLS) $29,680 MLSNOW
• 2010-05-20 Listing Removed — MLSNOW
• 2010-04-22 Listed $27,500 MLSNOW
• 2010-04-19 Listing Removed — MLSNOW
• 2010-02-16 Listed $32,900 MLSNOW
• 2007-09-19 Listing Removed — MLSNOW
• 2007-06-19 Listed $89,900 MLSNOW
• 1993-02-11 Sold (Public Records) $27,500 Public Records
• 1993-02-11 Sold (MLS) $26,500 MLSNOW
• 1992-10-27 Listed $29,900 MLSNOW

Property tax history

+6.0%/yr

Latest (2025): $2,203 · +0.5% YoY. Source: county tax records.