2764 Garfield Blvd · Lorain, OH 44052

$149,900

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 3 Days on market

Built 1947 7,840 sqft lot $130/sqft · at area comps Est $156k · at est.

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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 +14.5/30.0
• ARV discount +9.2/15.0
• DSCR +4.4/10.0
• Rent growth +3.5/5.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming, fully updated 3 bedroom, 1 bathroom Colonial just 3 blocks from Lake Erie, offering cool summer breezes and effortless access to lakeside parks and recreation. This vacant, turn key property features a fresh coat of neutral paint throughout and beautifully preserved original hardwood floors that begin in the bright living room with its striking brick fireplace. The layout flows openly through an elegant architectural archway into the dining room, and then into the fully updated kitchen, which boasts brand new modern flooring, sleek charcoal cabinetry, a matching dark finish accent wall, and brand new stainless steel appliances including a smooth top range and built in dishwasher.

Key facts

• Charcoal cabinetry
• Brick fireplace
• Updated colonial

Tags

• UPDATED COLONIAL
• ORIGINAL HARDWOOD FLOORS
• BRICK FIREPLACE
• ELEGANT ARCHITECTURAL ARCHWAY
• FULLY UPDATED KITCHEN
• CHARCOAL CABINETRY

Property features AI

Finance

• Financial info: Annual taxes reported (see listing for amount and year)

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Two-story home; Aluminum siding; Asphalt shingle roof
• Construction: Built (year from public records); Aluminum siding construction; Asphalt shingle roof; Full unfinished basement
• Exterior features: Paved parking area

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Total of 6 rooms (bedrooms included)
• Bathrooms: One full bathroom
• Heating & cooling: Gas heating; Central air conditioning
• Interior features: Full unfinished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $32 ($380/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 $126k (16.1% below list).
• Recommended offer: $126k (16.1% below list) — sets the bar for 1% rule.

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: amenities D, health & safety D, crime F.
• 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.
• Zoned schools: Larkmoor Elementary School (math 22% / reading 32%, grade F, #1,193 of 1,584 statewide, top 76%, 438 students, 0% FRL); Longfellow Middle School (math 9% / reading 23%, grade F, #624 of 654 statewide, top 96%, 390 students, 0% FRL); Lorain High School (math 17% / reading 34%, grade F, #638 of 781 statewide, top 82%, 1,722 students, 0% FRL) — zoned schools average 0% FRL vs 80% district-wide (80 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 135 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 34% 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 $4k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 35y 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 $53k; list at $150k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,823 (16.1% below list)

Questions for the listing agent

1. Built in 1947 — 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. 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?
4. 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?
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: 0.84% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.91%
• DSCR: 1.04
• GRM: 9.9

CMA / ARV

• ARV (median comp): $155,906
• List price: $149,900
• Delta: -3.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2867 Garfield Blvd	0.10mi	3/1.0	1,221 (+6%)	2mo	$92,000	$75	83
1001 Euclid Ave	0.27mi	2/1.0 (-1)	1,138 (-1%)	3mo	$122,000	$107	78
2737 N Jefferson Blvd	0.13mi	3/2.0	1,240 (+8%)	3mo	$197,500	$159	75
921 Euclid Ave	0.25mi	4/1.0 (+1)	1,221 (+6%)	1mo	$135,000	$111	73
2967 Cleveland Blvd	0.26mi	3/1.5	1,243 (+8%)	2mo	$209,000	$168	71
1008 Euclid Ave	0.25mi	3/1.0	1,033 (-10%)	2mo	$75,000	$73	70
3162 Lincoln St	0.38mi	3/1.0	1,015 (-12%)	1mo	$80,500	$79	62
1401 Missouri Ave	0.54mi	3/2.0	1,194 (+4%)	5mo	$168,000	$141	61
248 Root Rd	0.64mi	3/1.5	1,200 (+4%)	4mo	$156,500	$130	58
2222 Adams St	0.46mi	3/2.0	1,025 (-11%)	5mo	$91,000	$89	52
2149 Hancock St	0.68mi	4/1.0 (+1)	1,073 (-7%)	2mo	$126,000	$117	51
1622 New Jersey Ave	0.70mi	3/1.0	1,040 (-10%)	2mo	$131,000	$126	49

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: -13.7%
• Equity multiple: 0.50×
• Total profit: $-20,905
• Equity at exit: $22,351

10-year hold

• IRR: -3.4%
• Equity multiple: 0.77×
• Total profit: $-9,862
• Equity at exit: $12,961

Cash invested: $41,972 (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: 135
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,258 high
• Mortgage (P&I): −$786
• Tax from tax record: −$114 /mo · $1,366/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $32

Break-even live

Break-even rent $1,218

Max offer price $149,900

Occupancy floor 92%

Sensitivity live

Price	-10% $117	-5% $74	+0% $32	+5% $-11	+10% $-53
Rent	-10% $-68	-5% $-18	+0% $32	+5% $81	+10% $131
Rate	-1.0pp $107	-0.5pp $70	base $32	+0.5pp $-7	+1.0pp $-47

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2327 S Jefferson Blvd Lorain, OH	3.0	1.0	1485	$1,531	$1.03	23d	1	0.30mi
1109 Euclid Ave Lorain, OH	3.0	1.0	1066	$995	$0.93	3d	1	0.34mi
716 Dakota Ave Lorain, OH	3.0	2.0	1490	$1,650	$1.11	3d	1	0.39mi
629 Vermont Dr Lorain, OH	3.0	1.0	840	$1,195	$1.42	3d	1	0.47mi
619 Root Rd Lorain, OH	2.0	1.5	900	$1,100	$1.22	3d	1	0.54mi
1630 Euclid Ave Lorain, OH	3.0	1.0	900	$1,100	$1.22	45d	1	0.77mi
1508 Fillmore Ave Unit 1510 Fillmore Ave: Left Unit Lorain, OH	3.0	1.0	896	$900	$1.00	9d	1	0.80mi
1510 Fillmore Ave Lorain, OH	3.0	1.0	896	$900	$1.00	9d	1	0.80mi
810 E Erie Ave #4 Lorain, OH	2.0	1.0	1200	$895	$0.75	45d	1	1.30mi
860 Colorado Ave Lorain, OH	2.0	1.0	825	$1,225	$1.48	45d	1	1.31mi

Listing history 6 events

1. 2026-05-18
   status Pending 1618-char remark
2. 2026-05-15
   listed $149,900 Active 1618-char remark
3. 1992-08-06
   soldstatus $53,000
4. 1991-12-04
   historical
5. 1991-06-04
   listed $56,900
6. 1989-07-18
   soldstatus $49,000

ⓘ 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: $1,366 · $114/mo
• Projected year-2 tax: $1,852 · $154/mo
• Expected delta: +$486/yr (+$41/mo · 35.6%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,099
• − Mortgage interest: −$8,397
• − Property taxes: −$1,366
• − Insurance: −$750
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$4,361
• Taxable loss: −$2,190
• Est. tax savings @ 24.0%: +$525
• After-tax cash flow: $905/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

+205.9% since first listed

6 events — show timeline

• 2026-05-18 Pending — MLSNOW
• 2026-05-15 Listed $149,900 MLSNOW
• 1992-08-06 Sold (Public Records) $53,000 Public Records
• 1991-12-04 Listing Removed — MLSNOW
• 1991-06-04 Listed $56,900 MLSNOW
• 1989-07-18 Sold (Public Records) $49,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,366 · -7.3% YoY. Source: county tax records.