6 Meadowlawn Dr · Mentor, OH 44060

$134,900

2 bd · 1.0 ba · 989 sqft · Condo · 1 Days on market

Built 1963 Good condition $284/mo HOA · 20% of rent

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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 +9.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• DSCR +2.8/10.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained condo is located in Mentor neighborhood offering easy access to freeways, shopping, dining, receration, and entertainment. This unit is located on the 2nd floor with dual stairways. The bathroom and kitchen were completely remodeled in 2025. The bathroom features a barn door style entry, modern design glass enclosed walk-in shower, new vanity with granite countertop, new toilet, new flooring, and large storage closet area with built-in cabinetry. The kitchen includes a new granite countertop, updated cabinetry, new dishwasher, new refrigerator, new built-in microwave and new flooring. The entire condo was freshly painted throughout in May 2026 including all walls, doors

Key facts

• Remodeled bathroom
• Mentor neighborhood
• New large bay window

Tags

• MENTOR NEIGHBORHOOD
• EASY ACCESS TO FREEWAYS
• REMODELED BATHROOM
• NEW GRANITE COUNTERTOP
• NEW BUILT-IN MICROWAVE
• NEW LARGE BAY WINDOW

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Meadowlawn Condominium Association; Monthly association fees (listed amounts); Association fees include management, gas, heat, insurance, grounds and structure maintenance, parking, recreation facilities, reserve fund, snow removal, trash and water; Community features: common grounds, fishing, lake, playground, park, pool, sidewalks

Exterior

• Parking: Detached garage (1 car); Garage with rear-facing garage; Garage door opener; Deeded parking; Additional parking available; Common parking and guest parking (permit required, lighted); Direct access to parking
• Utilities: Public water; Public sewer
• Home design: Two-story building; Entry level: 2; Has a view
• Construction: Brick construction; Pitched shingle roof; Block foundation; Attic/crawl hatchway(s) insulated; Built in owner year (year built source: Owner)
• Exterior features: Basketball court; Barbecue area; Courtyard (including uncovered courtyard); Fire pit; Outdoor lighting; Playground; Fenced outdoor pool area; Community/private outdoor in-ground pool; Close to clubhouse; Flat, landscaped and level grounds

Interior

• Kitchen: Cooktop; Range; Dishwasher; Microwave; Refrigerator; Freezer; Granite counters
• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Baseboard heating; Hot water/steam/radiant heating plus fireplace(s); Ceiling fans; Electric cooling; Wall/window air conditioning units; Separate meters
• Interior features: Book cases and built-in features; Ceiling fans; Crown molding; Entrance foyer; Granite and stone counters; His-and-hers closets; High-speed internet; Multiple closets; Open floorplan; Storage; Wired for data; Bay windows; Double-pane windows; Window screens
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (9.2% below list).
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $123k (9.2% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 3.7% in Mentor — 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 84/100 on livability (#53 in OH, #739 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, cost of living A+; Watch: amenities D, commute F.
• Mentor Exempted Village (suburban): math 58% / reading 70% proficiency, ranked #201 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.5%/yr); 264 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $122,530 (9.2% 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 5.53%
• Cash-on-cash: -2.72%
• DSCR: 0.88
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.38×
• Total profit: $-23,358
• Equity at exit: $20,114

10-year hold

• IRR: -3.6%
• Equity multiple: 0.73×
• Total profit: $-10,340
• Equity at exit: $11,664

Cash invested: $37,772 (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 44060

• Rents YoY: 5.5%
• Active inventory: 264
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,431 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$284
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $-85

Break-even live

Break-even rent $1,540

Max offer price $122,530

Occupancy floor —

Sensitivity live

Price	-10% $8	-5% $-39	+0% $-85	+5% $-132	+10% $-179
Rent	-10% $-199	-5% $-142	+0% $-85	+5% $-29	+10% $28
Rate	-1.0pp $-18	-0.5pp $-51	base $-85	+0.5pp $-120	+1.0pp $-156

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Meadowlawn Dr #11 Mentor, OH	2.0	1.0	1100	$1,350	$1.23	2d	1	0.10mi
7155 Hart St Mentor, OH	2.0–3.0	1.5	1150	$1,325	$1.15	2d	2	0.87mi

HOA detail condo

• Monthly dues: $284 · $3,408/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $134,900 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,176
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,374
• − Management: −$1,374
• − HOA: −$3,408
• − Depreciation: −$3,924
• Taxable loss: −$3,159
• Est. tax savings @ 24.0%: +$758
• After-tax cash flow: $-268/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained and recently updated condo is located in a desirable neighborhood with easy access to amenities. The interior and exterior are in good condition, and updates to the paint, landscaping, and kitchen appliances would further enhance its value.

Value-add opportunities

• Both Painting — Freshly painted interior enhances curb appeal and interior aesthetics.
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value.
• Both Kitchen appliances — Upgraded kitchen appliances improve functionality and appeal.
• Both Bathroom fixtures — Modern bathroom fixtures enhance functionality and appeal.
• Both Flooring — New flooring in kitchen and bathrooms improves functionality and appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting — Freshly painted interior enhances curb appeal and interior aesthetics. ↑
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value. ↑
• Both Kitchen appliances — Upgraded kitchen appliances improve functionality and appeal. ↑
• Both Bathroom fixtures — Modern bathroom fixtures enhance functionality and appeal. ↑
• Both Flooring — New flooring in kitchen and bathrooms improves functionality and appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mentor Exempted Village
• NCES district ID: 3904549
• Math proficiency: 58% ▼ -17.00%
• Reading proficiency: 70% ▼ -9.00%
• Median HH income: $64,267
• Composite: 55.71/100
• National rank: #1221
• State rank: #201 of 656 in OH

Livability — Mentor

• Score: 84/100
• State rank: #53
• US rank: #739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mentor, OH
• County: Lake County · 204,927 people
• City population: 60,779
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 60,779
• Household income: $87,599
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 883.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 7% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 93% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 1%

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: ▼ -203.36%
• Current HPI: 188.9887
• Rent YoY: ▲ 5.54%
• 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

1 event — show timeline

• 2026-06-17 Listed $134,900 MLSNOW