35157 Center Ridge Rd #126 · North Ridgeville, OH 44039

$39,900

3 bd · 2.0 ba · 980 sqft · SingleFamily · 149 Days on market

Built 1983 0.90 ac lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well-maintained and move-in ready Three Bedroom, Two bathroom ranch-style manufactured home located in the desirable Ridgeville community of North Ridgeville! Offering 980 sq ft of comfortable single-level living, this property is perfect for anyone seeking an affordable, low-maintenance, and convenient lifestyle in a peaceful suburban setting. Step inside to discover a bright and inviting interior featuring an open floor plan, updated flooring, neutral paint, and large windows that bring in plenty of natural light. The spacious living room provides a welcoming space to relax or entertain, flowing easily into the dining area and kitchen, which offers ample cabinet spac

Key facts

• Large windows
• Open floor plan
• Updated flooring

Tags

• RANCH STYLE MANUFACTURED HOME
• OPEN FLOOR PLAN
• UPDATED FLOORING
• LARGE WINDOWS
• AMPLE CABINET SPACE
• IN UNIT LAUNDRY

Property features AI

Finance

• Other: Lot is approximately 0.9 acres; lot features include backyard, front yard, level/flat, cleared, few trees, paved, cul-de-sac access, partial wood front-yard fencing with gate
• Financial info: Has land lease (amount billed separately); Pets allowed
• HOA & community: Community common grounds; Curbs and sidewalks; Street lights; Suburban neighborhood

Exterior

• Parking: 2-space carport; Concrete driveway; On-street parking; Direct access (no garage)
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Single-story property; Updated/remodeled condition; Has a view; Block foundation
• Construction: Aluminum siding; Asphalt/fiberglass shingle roof; Built per public records; Home warranty included
• Exterior features: Patio; Storage shed; Yard storage

Interior

• Kitchen: Range
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet in some bedrooms; Linoleum in kitchen and bathrooms
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric forced air heating
• Interior features: Ceiling fans; Laminate counters; Storm windows; Window screens
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet in unit on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $870 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 45.3% vs local median 3.3% in North Ridgeville — 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 74/100 on livability (#305 in OH, #4,924 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• North Ridgeville City (suburban): math 49% / reading 61% proficiency, ranked #339 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 206 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 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: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.99% ✓
• Cap rate: 45.30%
• Cash-on-cash: 139.31%
• DSCR: 7.20
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $183,260
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35157 Center Ridge Rd #126	0.00mi	3/2.0	980 (0%)	1mo	$45,000	$46	99
35157 Center Ridge Rd #120	0.06mi	2/1.0 (-1)	900 (-8%)	3mo	$38,000	$42	72
35157 Center Ridge Rd #117	0.06mi	2/1.5 (-1)	900 (-8%)	12mo	$46,750	$52	67
35157 Center Ridge Rd #151	0.19mi	2/2.0 (-1)	1,088 (+11%)	4mo	$55,500	$51	65
7100 Fairacres Ave	0.59mi	3/1.0	984 (+0%)	9mo	$249,500	$254	60
6385 Rosebelle Ave	0.60mi	3/1.5	1,056 (+8%)	3mo	$205,000	$194	54
6320 Jaycox Rd	0.50mi	3/1.0	1,085 (+11%)	14mo	$236,000	$218	43
35055 Bainbridge Rd	0.31mi	2/1.0 (-1)	864 (-12%)	20mo	$181,000	$209	41
9 Cadet Dr	0.38mi	3/1.0	1,096 (+12%)	22mo	$205,000	$187	40
4766 Charles Rd	0.67mi	3/1.0	920 (-6%)	21mo	$201,000	$218	37
7366 Avon Belden Rd	0.67mi	3/1.0	1,116 (+14%)	16mo	$153,000	$137	28
6323 Olive Ave	0.73mi	2/1.0 (-1)	1,112 (+14%)	10mo	$169,900	$153	26

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: 94.5%
• Equity multiple: 5.41×
• Total profit: $49,263
• Equity at exit: $5,949

10-year hold

• IRR: 97.3%
• Equity multiple: 11.34×
• Total profit: $115,468
• Equity at exit: $3,450

Cash invested: $11,172 (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 44039

• Active inventory: 206
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,991 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $870

Break-even live

Break-even rent $889

Max offer price $39,900

Occupancy floor 51%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35143 Bainbridge Rd North Ridgeville, OH	3.0	1.0	1096	$1,979	$1.81	4d	1	0.30mi

Listing history 5 events

1. 2026-04-29
   status Pending
2. 2025-12-24
   status Active
3. 2025-11-06
   status Pending
4. 2025-10-20
   historical Contingent
5. 2025-10-14
   listed $39,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,889
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$5,318
• − Repairs & maintenance: −$1,911
• − Management: −$1,911
• − Depreciation: −$1,161
• Taxable income: $10,754
• Est. tax owed @ 24.0%: −$2,581
• After-tax cash flow: $7,864/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: North Ridgeville City
• NCES district ID: 3904453
• Math proficiency: 49% ▼ -21.00%
• Reading proficiency: 61% ▼ -11.00%
• Median HH income: $66,437
• Composite: 48.46/100
• National rank: #2130
• State rank: #339 of 656 in OH

Livability — North Ridgeville

• Score: 74/100
• State rank: #305
• US rank: #4924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Ridgeville, OH
• County: Lorain County · 219,437 people
• City population: 36,780
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 36,780
• Household income: $96,485
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 207.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -160.14%
• Current HPI: 210.6074
• 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

5 events — show timeline

• 2026-04-29 Pending — MLSNOW
• 2025-12-24 Relisted — MLSNOW
• 2025-11-06 Pending — MLSNOW
• 2025-10-20 Contingent — MLSNOW
• 2025-10-14 Listed $39,900 MLSNOW