14603 Ridge Rd · Conneaut, OH 16443

$110,000

3 bd · 1.0 ba · 1,600 sqft · SingleFamily · 197 Days on market

Built 1967 4.00 ac lot ↓ 12% since listing

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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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• 1% rule +6.2/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nearly 4 Acres in Springfield Township Extends South all the way to I90. One Story Building on 4 foot Crawl Space. Currently used as Commercial Building- Well Maintained. Could be Converted to Single Family Home. 2 Parcels/Index numbers included in Sale. No Kitchen, Laundry, Full Bath or Hot Water on site. This would be a Cash Sale. Cement Block Building with Aluminum Siding on 3 sides. Well & Septic on Site. Assessment & Taxes are for Both Parcels. Also listed as Commercial Property. Check out the Possibilities.

Key facts

• 4 acre lot
• 14 parking spots
• Built 1967

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.3% in Conneaut — 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 63/100 on livability (#808 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, health & safety D.
• Northwestern SD (town): math 35% / reading 48% proficiency, ranked #333 of 539 in PA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Solid renter incomes; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($761 loan paydown + $5k appreciation (4.6% local appreciation)).
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $25k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 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 1967 — 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: 1.12% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 2.18×
• Total profit: $36,479
• Equity at exit: $59,863

10-year hold

• IRR: 19.2%
• Equity multiple: 4.24×
• Total profit: $99,867
• Equity at exit: $101,326

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 16443

• Home prices YoY: 2.5%
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $211

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 78%

Sensitivity live

Price	-10% $287	-5% $249	+0% $211	+5% $173	+10% $135
Rent	-10% $114	-5% $162	+0% $211	+5% $259	+10% $308
Rate	-1.0pp $266	-0.5pp $239	base $211	+0.5pp $182	+1.0pp $153

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: —

Listing history 9 events

1. 2026-04-06
   status Pending
2. 2026-01-21
   status Active
3. 2026-01-10
   price $110,000
4. 2025-10-07
   price $125,000
5. 2025-09-18
   listed $135,000 Active
6. 2024-12-13
   soldstatus $115,000 Closed 530-char remark

   Show marketing remark (530 chars)

   Nearly 4 Acres in Springfield Township Extends South all the way to I90. One Story Building on 4 foot Crawl Space. Currently used as Commercial Building- Well Maintained. Could be Converted to Single Family Home. 2 Parcels/Index numbers included in Sale. No Kitchen, Laundry, Full Bath or Hot Water on site. This would be a Cash Sale. Cement Block Building with Aluminum Siding on 3 sides. Well & Septic on Site. Assessment & Taxes are for Both Parcels. Also listed as Commercial Property. Check out the Possibilities.

7. 2024-11-19
   status Pending 530-char remark

   Show marketing remark (530 chars)

   Nearly 4 Acres in Springfield Township Extends South all the way to I90. One Story Building on 4 foot Crawl Space. Currently used as Commercial Building- Well Maintained. Could be Converted to Single Family Home. 2 Parcels/Index numbers included in Sale. No Kitchen, Laundry, Full Bath or Hot Water on site. This would be a Cash Sale. Cement Block Building with Aluminum Siding on 3 sides. Well & Septic on Site. Assessment & Taxes are for Both Parcels. Also listed as Commercial Property. Check out the Possibilities.

8. 2024-10-29
   price $119,900 530-char remark

   Show marketing remark (530 chars)

   Nearly 4 Acres in Springfield Township Extends South all the way to I90. One Story Building on 4 foot Crawl Space. Currently used as Commercial Building- Well Maintained. Could be Converted to Single Family Home. 2 Parcels/Index numbers included in Sale. No Kitchen, Laundry, Full Bath or Hot Water on site. This would be a Cash Sale. Cement Block Building with Aluminum Siding on 3 sides. Well & Septic on Site. Assessment & Taxes are for Both Parcels. Also listed as Commercial Property. Check out the Possibilities.

9. 2024-08-16
   listed $124,900 Active 530-char remark

   Show marketing remark (530 chars)

   Nearly 4 Acres in Springfield Township Extends South all the way to I90. One Story Building on 4 foot Crawl Space. Currently used as Commercial Building- Well Maintained. Could be Converted to Single Family Home. 2 Parcels/Index numbers included in Sale. No Kitchen, Laundry, Full Bath or Hot Water on site. This would be a Cash Sale. Cement Block Building with Aluminum Siding on 3 sides. Well & Septic on Site. Assessment & Taxes are for Both Parcels. Also listed as Commercial Property. Check out the Possibilities.

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

Taxation est. · year 1

• Rental income: $14,750
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$3,200
• Taxable income: $829
• Est. tax owed @ 24.0%: −$199
• After-tax cash flow: $2,332/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: Northwestern SD
• NCES district ID: 4217880
• Math proficiency: 35% ▼ -24.00%
• Reading proficiency: 48% ▼ -22.00%
• Median HH income: $48,180
• Composite: 35.51/100
• National rank: #4912
• State rank: #333 of 539 in PA

Livability — Conneaut

• Score: 63/100
• State rank: #808
• US rank: #14907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Erie · 78,232 people
• City population: 16,317
• Metro: Erie, PA
• Population (ZIP): 1,170
• Household income: $75,806
• Rent vs Own: 13.1% rent · 86.9% own

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Romanian 19% Slovak 4% Italian 2%
• Languages at home: 97% English-only · French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.63%
• Current HPI: 193.5542
• 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

-11.9% since first listed

9 events — show timeline

• 2026-04-06 Pending — GEBOR
• 2026-01-21 Relisted — GEBOR
• 2026-01-10 Price Changed $110,000 GEBOR
• 2025-10-07 Price Changed $125,000 GEBOR
• 2025-09-18 Listed $135,000 GEBOR
• 2024-12-13 Sold (MLS) $115,000 GEBOR
• 2024-11-19 Pending — GEBOR
• 2024-10-29 Price Changed $119,900 GEBOR
• 2024-08-16 Listed $124,900 GEBOR