2353 Livingston · Lorain, OH 44052

$49,900

5 bd · 2.0 ba · 1,980 sqft · SingleFamily public records · 81 Days on market

Built 1923 6,098 sqft lot $25/sqft · 59% below area

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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 +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 MLS

Each Has Own Furnace * Separate Entrance For Bsmt * Owner Only Pays Garbage & Water Quiet Dead-end St * Frt Apt/3br-bk Apt/2br

Key facts

• 6,098 sq ft lot
• Parking
• Built 1923

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 28.9% 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $1,706/mo this rent would consume 45% 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 $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 33y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 3.42% ✓
• Cap rate: 28.86%
• Cash-on-cash: 80.60%
• DSCR: 4.59
• GRM: 2.4

CMA / ARV

• ARV (median comp): $121,375
• List price: $49,900
• Delta: -58.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1853 Garden Ave	0.39mi	6/2.0 (+1)	2,056 (+4%)	10mo	$55,000	$27	62
413 W 28th St	0.35mi	4/2.0 (-1)	2,036 (+3%)	19mo	$158,000	$78	58
512 W 24th St	0.26mi	4/1.0 (-1)	1,920 (-3%)	19mo	$140,000	$73	58
2910 Park Dr	0.57mi	4/2.0 (-1)	1,929 (-3%)	22mo	$175,500	$91	46
1504 Lexington Ave	0.57mi	5/2.0	2,246 (+13%)	11mo	$160,000	$71	42
3404 Broadway	0.67mi	4/2.5 (-1)	2,092 (+6%)	16mo	$160,000	$76	40

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: 82.1%
• Equity multiple: 4.84×
• Total profit: $53,643
• Equity at exit: $7,440

10-year hold

• IRR: 85.8%
• Equity multiple: 10.44×
• Total profit: $131,878
• Equity at exit: $4,314

Cash invested: $13,972 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,706 high
• Mortgage (P&I): −$262
• Tax from tax record: −$127 /mo · $1,522/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $938

Break-even live

Break-even rent $518

Max offer price $49,900

Occupancy floor 40%

Sensitivity live

Price	-10% $967	-5% $953	+0% $938	+5% $924	+10% $910
Rent	-10% $804	-5% $871	+0% $938	+5% $1,006	+10% $1,073
Rate	-1.0pp $964	-0.5pp $951	base $938	+0.5pp $926	+1.0pp $912

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	24d	1	0.40mi
200 E 31st St Lorain, OH	5.0	2.0	1562	$1,550	$0.99	2d	1	0.50mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	44d	1	0.68mi
640 W 13th St Lorain, OH	6.0	2.0	1920	$2,041	$1.06	4d	1	0.71mi
1037 Washington Ave Lorain, OH	4.0	2.0	1567	$1,600	$1.02	17d	1	0.93mi
760 W 9th St Lorain, OH	4.0	2.0	1987	$1,600	$0.81	44d	1	1.00mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	24d	1	1.03mi
1322 Brownell Ave Lorain, OH	4.0	1.0	1571	$1,570	$1.00	44d	1	1.20mi
1413 W 12th St Lorain, OH	4.0	1.5	1725	$1,700	$0.99	44d	1	1.35mi

Listing history 12 events

1. 2026-06-07
   statusdays on market $49,900 Pending 81 DOM
2. 2026-06-03
   days on market $49,900 Active 79 DOM
3. 2026-06-02
   days on market $49,900 Active 78 DOM
4. 2026-06-01
   days on market $49,900 Active 77 DOM
5. 2026-05-31
   days on market $49,900 Active 76 DOM
6. 2026-05-01
   status Active
7. 2026-04-21
   historical Contingent
8. 2026-03-12
   listed $49,900 Active
9. 2004-10-05
   soldstatus $62,275
10. 1993-09-17
    soldstatus $39,000 132-char remark

    Show marketing remark (132 chars)

    Each Has Own Furnace * Separate Entrance For Bsmt * Owner Only Pays Garbage & Water Quiet Dead-end St * Frt Apt/3br-bk Apt/2br

11. 1993-09-16
    soldstatus $39,000
12. 1993-05-29
    listed $42,900 132-char remark

    Show marketing remark (132 chars)

    Each Has Own Furnace * Separate Entrance For Bsmt * Owner Only Pays Garbage & Water Quiet Dead-end St * Frt Apt/3br-bk Apt/2br

ⓘ 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: $1,522 · $127/mo
• Projected year-2 tax: $1,522 · $127/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 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: $20,473
• − Mortgage interest: −$2,795
• − Property taxes: −$1,522
• − Insurance: −$250
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$1,452
• Taxable income: $11,179
• Est. tax owed @ 24.0%: −$2,683
• After-tax cash flow: $8,579/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

+16.3% since first listed

7 events — show timeline

• 2026-05-01 Relisted — MLSNOW
• 2026-04-21 Contingent — MLSNOW
• 2026-03-12 Listed $49,900 MLSNOW
• 2004-10-05 Sold (Public Records) $62,275 Public Records
• 1993-09-17 Sold (MLS) $39,000 MLSNOW
• 1993-09-16 Sold (Public Records) $39,000 Public Records
• 1993-05-29 Listed $42,900 MLSNOW

Property tax history

+1.3%/yr

Latest (2025): $1,522 · -4.9% YoY. Source: county tax records.