2606 Oberlin Ave · Lorain, OH 44052

$165,000

5 bd · 1.0 ba · 1,239 sqft · SingleFamily public records · 32 Days on market

Built 1952 10,454 sqft lot Est $120k · 37% over

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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 +21.8/30.0
• DSCR +7.0/10.0
• 1% rule +5.1/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Deadline to present offers is 4/5/11 12:00pm EST due to multiple offers. '' AGENTS SEE BROKER REMARKS 3 Bedroom Bungalow With 1st. Floor Bedroom And Bath. Additional Bath In Basement. Being sold AS-IS. Seller to make no repairs. No warranty expressed or implied.

Key facts

• Updated siding
• Newer roof
• New flooring

Tags

• VERSATILE BONUS ROOM
• EXTENDED DRIVEWAY
• UPDATED SIDING
• NEW FLOORING
• MODERN LIGHTING
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 5.9% in Lorain — 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 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities D, health & safety D.
• Lorain City (suburban): math 13% / reading 26% proficiency, ranked #633 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.1%/yr); 129 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 44% of the median local income ($45k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $165k implies a 931% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.01% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $120,183
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1207 W 38th St	0.66mi	4/2.0 (-1)	1,120 (-10%)	4mo	$200,000	$179	41
1331 W 18th St	0.58mi	4/1.0 (-1)	1,424 (+15%)	14mo	$65,000	$46	32
1934 Long Ave	0.72mi	4/1.0 (-1)	1,412 (+14%)	14mo	$118,000	$84	27
1711 W 19th St	0.66mi	4/2.0 (-1)	1,396 (+13%)	24mo	$136,000	$97	19

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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-8,660
• Equity at exit: $24,602

10-year hold

• IRR: 5.9%
• Equity multiple: 1.45×
• Total profit: $21,006
• Equity at exit: $14,266

Cash invested: $46,200 (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 44052

• Home prices YoY: -28.1%
• Rents YoY: 4.1%
• Active inventory: 129
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,658 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$121 /mo · $1,448/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $255

Break-even live

Break-even rent $1,335

Max offer price $165,000

Occupancy floor 80%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	23d	1	0.56mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	23d	1	0.74mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	43d	1	0.74mi
1055 W 12th St Lorain, OH	4.0	1.0	1206	$1,750	$1.45	23d	1	0.91mi

Listing history 25 events

1. 2026-03-31
   status Pending
2. 2026-03-30
   price $165,000
3. 2026-03-09
   price $170,000
4. 2026-02-27
   listed $180,000 Active
5. 2021-11-02
   status Active
6. 2021-11-02
   historical
7. 2021-10-23
   status Pending
8. 2021-10-07
   listed $98,000 Active
9. 2011-04-29
   soldstatus $16,000 266-char remark

   Show marketing remark (266 chars)

   Deadline to present offers is 4/5/11 12:00pm EST due to multiple offers. '' AGENTS SEE BROKER REMARKS 3 Bedroom Bungalow With 1st. Floor Bedroom And Bath. Additional Bath In Basement. Being sold AS-IS. Seller to make no repairs. No warranty expressed or implied.

10. 2011-03-29
    listed $9,600 266-char remark

    Show marketing remark (266 chars)

    Deadline to present offers is 4/5/11 12:00pm EST due to multiple offers. '' AGENTS SEE BROKER REMARKS 3 Bedroom Bungalow With 1st. Floor Bedroom And Bath. Additional Bath In Basement. Being sold AS-IS. Seller to make no repairs. No warranty expressed or implied.

11. 2010-09-25
    historical
12. 2010-06-25
    listed $24,000
13. 2005-09-20
    historical
14. 2005-03-20
    listed $110,000
15. 2005-02-04
    historical
16. 2004-08-04
    listed $110,000
17. 2003-05-02
    soldstatus $95,500
18. 2003-03-14
    soldstatus $63,000
19. 2003-03-06
    historical
20. 2003-03-04
    soldstatus $45,000
21. 2003-03-04
    soldstatus $63,000
22. 2003-01-07
    listed $63,900
23. 2003-01-06
    historical
24. 2002-09-09
    listed $69,900
25. 1990-01-30
    soldstatus $53,900

ⓘ 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: $1,448 · $121/mo
• Projected year-2 tax: $2,011 · $168/mo
• Expected delta: +$563/yr (+$47/mo · 38.9%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,900
• − Mortgage interest: −$9,243
• − Property taxes: −$1,448
• − Insurance: −$825
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$4,800
• Taxable income: $401
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $2,969/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: Lorain City
• NCES district ID: 3904426
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $32,823
• Composite: 15.81/100
• National rank: #9266
• State rank: #633 of 656 in OH

Livability — Lorain

• Score: 67/100
• State rank: #595
• US rank: #10183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lorain, OH
• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 28,282
• Household income: $45,023
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1423.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 49% Hispanic / Latino 24% Black 21% Two or more races 16%
• Hispanic origin (detail): Mexican 5% Puerto Rican 17%
• Common ancestry: Romanian 6% Lithuanian 1% Iranian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14%

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: ▼ -73.23%
• Current HPI: 186.9657
• Rent YoY: ▲ 4.09%
• 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

+206.1% since first listed

25 events — show timeline

• 2026-03-31 Pending — MLSNOW
• 2026-03-30 Price Changed $165,000 MLSNOW
• 2026-03-09 Price Changed $170,000 MLSNOW
• 2026-02-27 Listed $180,000 MLSNOW
• 2021-11-02 Relisted — MLSNOW
• 2021-11-02 Listing Removed — MLSNOW
• 2021-10-23 Pending — MLSNOW
• 2021-10-07 Listed $98,000 MLSNOW
• 2011-04-29 Sold (MLS) $16,000 MLSNOW
• 2011-03-29 Listed $9,600 MLSNOW
• 2010-09-25 Listing Removed — MLSNOW
• 2010-06-25 Listed $24,000 MLSNOW
• 2005-09-20 Listing Removed — MLSNOW
• 2005-03-20 Listed $110,000 MLSNOW
• 2005-02-04 Listing Removed — MLSNOW
• 2004-08-04 Listed $110,000 MLSNOW
• 2003-05-02 Sold (Public Records) $95,500 Public Records
• 2003-03-14 Sold (MLS) $63,000 MLSNOW
• 2003-03-06 Listing Removed — MLSNOW
• 2003-03-04 Sold (Public Records) $63,000 Public Records
• 2003-03-04 Sold (Public Records) $45,000 Public Records
• 2003-01-07 Listed $63,900 MLSNOW
• 2003-01-06 Listing Removed — MLSNOW
• 2002-09-09 Listed $69,900 MLSNOW
• 1990-01-30 Sold (Public Records) $53,900 Public Records

Property tax history

-1.1%/yr

Latest (2025): $1,448 · -4.9% YoY. Source: county tax records.