2242 Dock Rd · North Madison, OH 44057

$125,000

3 bd · 2.0 ba · 2,244 sqft · SingleFamily public records · 12 Days on market

Built 1900 6.72 ac lot ↓ 16% since listing

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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 +29.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime location on Dock Road. Looking for acreage to build your future dream home. This property has 6.72 acres. Home is a possible tear down or labor of love. Being sold As-Is no repairs.

Key facts

• 6.72 acre lot
• 3 garage spots
• Built 1900

Property features AI

Finance

• HOA & community: Located in a community with lake access

Exterior

• Parking: Detached garage; Driveway access; 3 garage spaces
• Utilities: Septic tank; Cistern water source; Well water source
• Home design: Two-story home; Fixer condition
• Construction: Vinyl siding; Asphalt/fiberglass roof; Concrete perimeter and stone foundation; Built according to public records
• Exterior features: 6.72-acre lot; Garage(s) and a poultry coop on the property

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Propane heating; Steam heating; Window air conditioning units
• Interior features: Basement with dirt floor, concrete areas and unfinished space; One fireplace
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).

Location & tenants

• Location reads 62/100 on livability (#865 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, health & safety D, amenities F.
• Madison Local (suburban): math 58% / reading 59% proficiency, ranked #308 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Elementary School (math 65% / reading 58%, grade B, #646 of 1,584 statewide, top 41%, 564 students, 34% FRL); Madison Middle School (math 52% / reading 58%, grade B-, #335 of 654 statewide, top 52%, 609 students, 36% FRL); Madison High School (math 52% / reading 62%, grade C, #275 of 781 statewide, top 37%, 860 students, 32% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 97 active listings in the ZIP; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($70k/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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 $107k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.51% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.64%
• DSCR: 1.65
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $7,097
• Equity at exit: $18,638

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $41,812
• Equity at exit: $10,808

Cash invested: $35,000 (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 44057

• Active inventory: 97
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,882 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$352 /mo · $4,223/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $427

Break-even live

Break-even rent $1,341

Max offer price $125,000

Occupancy floor 72%

Sensitivity live

Price	-10% $498	-5% $462	+0% $427	+5% $392	+10% $356
Rent	-10% $278	-5% $353	+0% $427	+5% $501	+10% $576
Rate	-1.0pp $490	-0.5pp $459	base $427	+0.5pp $395	+1.0pp $362

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-22
   status Pending
2. 2026-04-08
   listed $125,000 Active
3. 2016-06-01
   soldstatus $107,100
4. 2009-04-07
   soldstatus $118,000
5. 2009-01-29
   historical
6. 2008-08-02
   historical
7. 2008-07-29
   listed $99,900
8. 2008-02-08
   historical
9. 2008-02-02
   listed $129,900
10. 2007-08-08
    listed $149,000

ⓘ 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: $4,223 · $352/mo
• Projected year-2 tax: $4,223 · $352/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 2/10 Low 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,582
• − Mortgage interest: −$7,002
• − Property taxes: −$4,223
• − Insurance: −$625
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − Depreciation: −$3,636
• Taxable income: $3,482
• Est. tax owed @ 24.0%: −$836
• After-tax cash flow: $4,290/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: Madison Local
• NCES district ID: 3904788
• Math proficiency: 58% ▼ -7.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $51,608
• Composite: 49.99/100
• National rank: #1924
• State rank: #308 of 656 in OH

Livability — North Madison

• Score: 62/100
• State rank: #865
• US rank: #16372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake · 224,932 people
• Metro: Cleveland, OH
• Population (ZIP): 19,491
• Household income: $70,212
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 8.5

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Scotch-Irish 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -241.42%
• Current HPI: 187.8978
• 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

-16.1% since first listed

10 events — show timeline

• 2026-04-22 Pending — MLSNOW
• 2026-04-08 Listed $125,000 MLSNOW
• 2016-06-01 Sold (Public Records) $107,100 Public Records
• 2009-04-07 Sold (Public Records) $118,000 Public Records
• 2009-01-29 Listing Removed — MLSNOW
• 2008-08-02 Listing Removed — MLSNOW
• 2008-07-29 Listed $99,900 MLSNOW
• 2008-02-08 Listing Removed — MLSNOW
• 2008-02-02 Listed $129,900 MLSNOW
• 2007-08-08 Listed $149,000 MLSNOW

Property tax history

+1.8%/yr

Latest (2025): $4,223 · -0.0% YoY. Source: county tax records.