829 Delaware Ave · Elyria, OH 44035

$165,000

4 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 2 Days on market

Built 1970 6,969 sqft lot Est $181k · 9% under

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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 +19.3/30.0
• ARV discount +11.4/15.0
• DSCR +6.1/10.0
• Rent growth +4.2/5.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This charming ranch is calling you home! Situated in Elyria's desirable Eastern Heights neighborhood, this well-maintained home shows pride of ownership throughout. Starting outside, the house has the modern appeal of vinyl siding and windows. Stepping inside the home through the front entryway, sunlight glistens through the large picture window, revealing a massive living room. Through the living room and into the kitchen, updated vinyl flooring and modern overhead fan fixture open the floor plan and expand the room. The eat-in kitchen is large and fit for a chef! The updated vinyl flooring expands into the laundry area as well. Head out of the back door though the kitchen and you will fin

Key facts

• Massive living room
• Large picture window
• Vinyl siding

Tags

• EASTERN HEIGHTS NEIGHBORHOOD
• VINYL SIDING
• LARGE PICTURE WINDOW
• MASSIVE LIVING ROOM
• UPDATED VINYL FLOORING
• MODERN OVERHEAD FAN FIXTURE

Property features AI

Finance

• Financial info: Annual taxes listed (tax year 2025)

Exterior

• Parking: Asphalt and concrete parking surfaces
• Utilities: Public water; Public sewer
• Home design: Single-story home; Vinyl siding; Slab foundation; Asphalt and fiberglass roofing
• Construction: Built (year source: public records)
• Exterior features: Partial wood fencing; Shed(s) on property

Interior

• Bedrooms: 4 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Interior features: Ceiling fans; Wall/window cooling units; Radiator and steam heating system; Hot water heat; Gas heating

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (9.8% below list).
• Recommended offer: $149k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.0% in Elyria — 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 75/100 on livability (#243 in OH, #3,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, commute F.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Eastern Heights Elementary School (math 27% / reading 37%, grade F, #1,135 of 1,584 statewide, top 73%, 521 students, 0% FRL); Eastern Heights Middle School (math 15% / reading 29%, grade F, #602 of 654 statewide, top 93%, 579 students, 100% FRL); Elyria High School (math 20% / reading 47%, grade F, #598 of 781 statewide, top 77%, 1,639 students, 62% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+6.7%/yr); 359 active listings in the ZIP; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 32% of the median local income ($56k/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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $148,799 (9.8% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.90% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $180,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
746 Delaware Ave	0.08mi	3/1.0 (-1)	1,050 (-8%)	2mo	$165,000	$157	76
908 Baldwin Ave	0.16mi	3/1.0 (-1)	1,050 (-8%)	4mo	$130,000	$124	70
553 Purdue Ave	0.33mi	3/1.0 (-1)	1,207 (+6%)	4mo	$191,000	$158	67
172 Xavier St	0.53mi	4/2.0	1,155 (+1%)	7mo	$250,000	$216	64
609 Princeton Ave	0.48mi	3/1.0 (-1)	1,089 (-5%)	2mo	$165,000	$152	63
532 Princeton Ave	0.55mi	3/1.0 (-1)	1,089 (-5%)	1mo	$190,000	$174	61
539 Princeton Ave	0.52mi	3/1.0 (-1)	1,089 (-5%)	3mo	$195,000	$179	60
537 Cambridge Ave	0.57mi	3/1.0 (-1)	1,089 (-5%)	3mo	$127,000	$117	58
475 Carol Ln	0.75mi	3/1.0 (-1)	1,248 (+9%)	3mo	$220,000	$176	43
453 Kenyon Ave	0.73mi	3/1.5 (-1)	1,028 (-10%)	1mo	$152,000	$148	41
229 Lexington Ave	0.67mi	3/1.0 (-1)	984 (-14%)	1mo	$162,900	$166	40
549 E Broad St	0.64mi	3/1.0 (-1)	1,280 (+12%)	7mo	$130,000	$102	40

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 · 6.74% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-9,392
• Equity at exit: $24,602

10-year hold

• IRR: 8.0%
• Equity multiple: 1.70×
• Total profit: $32,237
• 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 44035

• Rents YoY: 6.7%
• Active inventory: 359
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,488 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$59 /mo · $712/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $182

Break-even live

Break-even rent $1,257

Max offer price $165,000

Occupancy floor 83%

Sensitivity live

Price	-10% $276	-5% $229	+0% $182	+5% $135	+10% $89
Rent	-10% $65	-5% $123	+0% $182	+5% $241	+10% $300
Rate	-1.0pp $265	-0.5pp $224	base $182	+0.5pp $139	+1.0pp $96

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: —

Listing history 4 events

1. 2026-06-18
   status $165,000 Pending 2 DOM
2. 2026-06-17
   days on market $165,000 Active 2 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-16
   listed $165,000 Active 1 DOM

ⓘ 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: $712 · $59/mo
• Projected year-2 tax: $1,643 · $137/mo
• Expected delta: +$931/yr (+$78/mo · 130.9%)

ⓘ 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 ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,856
• − Mortgage interest: −$9,243
• − Property taxes: −$712
• − Insurance: −$825
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$4,800
• Taxable loss: −$580
• Est. tax savings @ 24.0%: +$139
• After-tax cash flow: $2,325/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: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 of 656 in OH

Livability — Elyria

• Score: 75/100
• State rank: #243
• US rank: #3869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elyria, OH
• County: Lorain County · 219,437 people
• City population: 62,179
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 62,179
• Household income: $56,408
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2229.0

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 (70%)
• Race & ethnicity: White 70% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 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: ▼ -139.09%
• Current HPI: 199.7354
• Rent YoY: ▲ 6.74%
• 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

• 2026-06-15 Listed $165,000 MLSNOW

Property tax history

-0.4%/yr

Latest (2025): $712 · -42.4% YoY. Source: county tax records.