12360 Cowley Rd · Eaton Estates, OH 44028

$225,000

3 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 10 Days on market

Built 1977 0.80 ac lot $184/sqft · 36% below area Est $354k · 36% under

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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).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Almost An Acre! Clean! Full Bath Of Master Br. Large Pretty Eat-in Kitchen. Big Bright Family Rm. Awsome Pool & Fenced Yard. Conveniantly Located. Attached Garage W/ Floored Attic. Big Shed. Plenty Of Storage. Immediate Occupancy.

Key facts

• Attached garage
• Expansive yard
• First floor laundry

Tags

• ONE FLOOR LIVING
• LARGE KITCHEN
• FIRST FLOOR LAUNDRY
• ATTACHED GARAGE
• EXPANSIVE YARD

Property features AI

Exterior

• Parking: Attached garage with 1 car space
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Built (year per public records); Wood siding; Asphalt/fiberglass roof; Below-grade finished area reported
• Exterior features: 0.8-acre lot

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Baseboard heating; Has heating
• Interior features: Updated/remodeled condition; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (30.3% below list).
• Recommended offer: $157k (30.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#810 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Midview Local (suburban): math 55% / reading 59% proficiency, ranked #314 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 93 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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 $122k; list at $225k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,721 (30.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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?
6. 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.
7. 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.
8. 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: 0.70% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.24%
• DSCR: 0.81
• GRM: 12.0

CMA / ARV

• ARV (median comp): $354,103
• List price: $225,000
• Delta: -36.46%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34718 Maurer Blvd	0.62mi	3/3.0	1,365 (+12%)	1mo	$375,000	$275	47
12045 Kara Ct Unit S/L 97	0.70mi	3/3.0	1,365 (+12%)	10mo	$335,300	$246	36

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: -23.5%
• Equity multiple: 0.20×
• Total profit: $-50,671
• Equity at exit: $33,548

10-year hold

• IRR: -18.3%
• Equity multiple: 0.01×
• Total profit: $-62,517
• Equity at exit: $19,454

Cash invested: $63,000 (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 44028

• Home prices YoY: -29.7%
• Active inventory: 93
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,567 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$187 /mo · $2,244/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $-223

Break-even live

Break-even rent $1,849

Max offer price $185,678

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-10
   listed $225,000 Active 566-char remark
2. 2006-07-03
   soldstatus $121,900
3. 2006-07-01
   soldstatus $121,900 236-char remark

   Show marketing remark (236 chars)

   Almost An Acre! Clean! Full Bath Of Master Br. Large Pretty Eat-in Kitchen. Big Bright Family Rm. Awsome Pool & Fenced Yard. Conveniantly Located. Attached Garage W/ Floored Attic. Big Shed. Plenty Of Storage. Immediate Occupancy.

4. 2006-03-18
   listed $123,900 236-char remark

   Show marketing remark (236 chars)

   Almost An Acre! Clean! Full Bath Of Master Br. Large Pretty Eat-in Kitchen. Big Bright Family Rm. Awsome Pool & Fenced Yard. Conveniantly Located. Attached Garage W/ Floored Attic. Big Shed. Plenty Of Storage. Immediate Occupancy.

5. 2005-04-18
   soldstatus $122,000

   Show marketing remark (282 chars)

   Private Full Bath Off Master Br * Large Pretty Eat In Kitchen * Big Bright Family Room * Awesome Pool * Fenced Yard * Whole House Fan * Conveniently Located * Attached Garage W/ Floored Attic * Big Shed * Plenty Of Storage Space! Almost An Acre! Move In Now! See Virtual Tour Above.

6. 2005-04-18
   soldstatus $122,000

   Show marketing remark (282 chars)

   Private Full Bath Off Master Br * Large Pretty Eat In Kitchen * Big Bright Family Room * Awesome Pool * Fenced Yard * Whole House Fan * Conveniently Located * Attached Garage W/ Floored Attic * Big Shed * Plenty Of Storage Space! Almost An Acre! Move In Now! See Virtual Tour Above.

7. 2004-11-28
   listed $129,900

   Show marketing remark (282 chars)

   Private Full Bath Off Master Br * Large Pretty Eat In Kitchen * Big Bright Family Room * Awesome Pool * Fenced Yard * Whole House Fan * Conveniently Located * Attached Garage W/ Floored Attic * Big Shed * Plenty Of Storage Space! Almost An Acre! Move In Now! See Virtual Tour Above.

8. 1998-08-04
   soldstatus $98,000

ⓘ 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: $2,244 · $187/mo
• Projected year-2 tax: $2,877 · $240/mo
• Expected delta: +$633/yr (+$53/mo · 28.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,807
• − Mortgage interest: −$12,603
• − Property taxes: −$2,244
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,505
• − Management: −$1,505
• − Depreciation: −$6,545
• Taxable loss: −$6,721
• Est. tax savings @ 24.0%: +$1,613
• After-tax cash flow: $-1,058/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: Midview Local
• NCES district ID: 3904817
• Math proficiency: 55% ▼ -17.00%
• Reading proficiency: 59% ▼ -13.00%
• Median HH income: $61,808
• Composite: 49.71/100
• National rank: #1966
• State rank: #314 of 656 in OH

Livability — Eaton Estates

• Score: 63/100
• State rank: #810
• US rank: #14970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lorain · 305,041 people
• Metro: Cleveland, OH
• Population (ZIP): 9,313
• Household income: $86,991
• Rent vs Own: 8.9% rent · 91.1% own

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 8% Italian 1% Subsaharan African 1%
• Foreign-born: 3%
• Languages at home: 96% English-only · Arabic 1% Russian/Polish/Slavic 1% Spanish 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: ▼ -94.16%
• Current HPI: 223.2008
• 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

+129.6% since first listed

9 events — show timeline

• 2026-05-21 Pending — MLSNOW
• 2026-05-10 Listed $225,000 MLSNOW
• 2006-07-03 Sold (Public Records) $121,900 Public Records
• 2006-07-01 Sold (MLS) $121,900 MLSNOW
• 2006-03-18 Listed $123,900 MLSNOW
• 2005-04-18 Sold (Public Records) $122,000 Public Records
• 2005-04-18 Sold (MLS) $122,000 MLSNOW
• 2004-11-28 Listed $129,900 MLSNOW
• 1998-08-04 Sold (Public Records) $98,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $2,244 · +0.2% YoY. Source: county tax records.