119 Erie St · Elyria, OH 44035

$99,010

4 bd · 1.0 ba · 1,420 sqft · SingleFamily public records · 142 Days on market

Built 1900 6,534 sqft lot Est $162k · 39% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Love doing flooring? Looking for a diamond in the making? This may be the property for you! On a 137' deep city lot, the green space leaves room to live. The outside of the home has vinyl siding, a metal roof, and mostly newer windows, with one leaded glass window to pay tribute to the past. Do you enjoy outside visiting? The front porch has a cement floor and wood railing with a gate. Inside, since 2020 the electrical panel, Water Heater, and Furnace have been updated/replaced. The layout is a traditional entrance with generous foyer. Can you imagine it updated with the stair woodwork paying homage to the past? You'll find new drywall throughout the home and the windows and doors are trim

Key facts

• Cement floor
• Metal roof
• 137 deep city lot

Tags

• 137 DEEP CITY LOT
• VINYL SIDING
• METAL ROOF
• NEWER WINDOWS
• LEADED GLASS WINDOW
• CEMENT FLOOR

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.0% in Elyria — 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 75/100 on livability (#243 in OH, #3,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, commute F.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ely Elementary School (math 12% / reading 27%, grade F, #1,293 of 1,584 statewide, top 83%, 453 students, 70% FRL); Northwood Middle School (math 22% / reading 42%, grade F, #559 of 654 statewide, top 87%, 564 students, 94% FRL); Elyria High School (math 20% / reading 47%, grade F, #598 of 781 statewide, top 77%, 1,639 students, 62% FRL) — zoned schools average 75% FRL vs 58% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 359 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,128 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.37%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $161,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
160 Erie St	0.10mi	3/1.5 (-1)	1,413 (-0%)	4mo	$56,000	$40	85
343 Furnace St	0.17mi	3/1.0 (-1)	1,400 (-1%)	1mo	$45,000	$32	84
757 W River Rd N	0.10mi	3/2.0 (-1)	1,448 (+2%)	10mo	$186,000	$128	75
747 W River Rd N	0.09mi	3/1.0 (-1)	1,556 (+10%)	2mo	$82,000	$53	73
421 Adams St	0.41mi	3/1.5 (-1)	1,352 (-5%)	9mo	$86,000	$64	58
127 Cascade St	0.37mi	4/1.0	1,612 (+14%)	3mo	$106,000	$66	58
687 Bell Ave	0.66mi	3/1.0 (-1)	1,388 (-2%)	12mo	$168,000	$121	50
827 Bond St	0.54mi	3/1.0 (-1)	1,258 (-11%)	3mo	$125,000	$99	49
568 Turner St	0.72mi	4/2.0	1,578 (+11%)	4mo	$180,000	$114	40
269 Hamilton Ave	0.73mi	3/1.0 (-1)	1,607 (+13%)	2mo	$205,500	$128	37
832 Meadow Lake Dr	0.51mi	3/2.0 (-1)	1,628 (+15%)	10mo	$385,295	$237	35
132 Willow Way	0.64mi	3/2.0 (-1)	1,628 (+15%)	11mo	$383,680	$236	28

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 · 6.74% rent growth · sell at horizon

5-year hold

• IRR: 6.2%
• Equity multiple: 1.25×
• Total profit: $6,956
• Equity at exit: $14,763

10-year hold

• IRR: 18.7%
• Equity multiple: 2.83×
• Total profit: $50,736
• Equity at exit: $8,561

Cash invested: $27,723 (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 44035

• Rents YoY: 6.7%
• Active inventory: 359
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,223 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$120 /mo · $1,440/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $286

Break-even live

Break-even rent $861

Max offer price $99,010

Occupancy floor 72%

Sensitivity live

Price	-10% $342	-5% $314	+0% $286	+5% $258	+10% $230
Rent	-10% $189	-5% $238	+0% $286	+5% $334	+10% $383
Rate	-1.0pp $336	-0.5pp $311	base $286	+0.5pp $260	+1.0pp $234

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: $24,752
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Lake Ave Unit 100 Rush Elyria, OH	3.0	1.0	1248	$1,099	$0.88	6d	1	0.32mi
100 Rush St Elyria, OH	3.0	1.0	1248	$1,099	$0.88	9d	1	0.32mi
1780 Lorain Blvd Elyria, OH	2.0–3.0	1.0–2.0	916	$1,100	$1.20	0d	1	1.28mi

Listing history 22 events

1. 2026-06-21
   days on market $99,010 Active 142 DOM
2. 2026-06-18
   days on market $99,010 Active 139 DOM
3. 2026-06-17
   days on market $99,010 Active 138 DOM
4. 2026-06-13
   days on market $99,010 Active 137 DOM
5. 2026-06-13
   days on market $99,010 Active 136 DOM
6. 2026-06-09
   days on market $99,010 Active 133 DOM
7. 2026-06-08
   days on market $99,010 Active 132 DOM
8. 2026-06-07
   days on market $99,010 Active 131 DOM
9. 2026-06-03
   days on market $99,010 Active 127 DOM
10. 2026-06-02
    days on market $99,010 Active 126 DOM
11. 2026-06-01
    days on market $99,010 Active 125 DOM
12. 2026-05-31
    days on market $99,010 Active 124 DOM
13. 2026-04-30
    price $99,010
14. 2026-02-18
    status Active
15. 2026-01-07
    status Active
16. 2026-01-05
    historical Contingent
17. 2025-12-26
    listed $100,000 Active
18. 2025-10-03
    historical
19. 2025-05-05
    price $100,000
20. 2025-05-05
    status Active
21. 2025-04-12
    status Pending
22. 2025-04-03
    listed $99,000 Active

ⓘ 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: $1,440 · $120/mo
• Projected year-2 tax: $1,492 · $124/mo
• Expected delta: +$52/yr (+$4/mo · 3.6%)

ⓘ 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 ≥98°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: $14,679
• − Mortgage interest: −$5,546
• − Property taxes: −$1,440
• − Insurance: −$495
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$2,880
• Taxable income: $1,969
• Est. tax owed @ 24.0%: −$472
• After-tax cash flow: $2,958/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: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 of 656 in OH

Livability — Elyria

• Score: 75/100
• State rank: #243
• US rank: #3869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elyria, OH
• County: Lorain County · 219,437 people
• City population: 62,179
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 62,179
• Household income: $56,408
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2229.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -139.09%
• Current HPI: 199.7354
• Rent YoY: ▲ 6.74%
• 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

+0.0% since first listed

10 events — show timeline

• 2026-04-30 Price Changed $99,010 MLSNOW
• 2026-02-18 Relisted — MLSNOW
• 2026-01-07 Relisted — MLSNOW
• 2026-01-05 Contingent — MLSNOW
• 2025-12-26 Listed $100,000 MLSNOW
• 2025-10-03 Listing Removed — MLSNOW
• 2025-05-05 Price Changed $100,000 MLSNOW
• 2025-05-05 Relisted — MLSNOW
• 2025-04-12 Pending — MLSNOW
• 2025-04-03 Listed $99,000 MLSNOW

Property tax history

+2.4%/yr

Latest (2025): $1,440 · +2.0% YoY. Source: county tax records.