6171 Lee Rd · North Ridgeville, OH 44039

$189,900

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 12 Days on market

Built 1952 5,793 sqft lot Est $196k · at est.

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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 +23.1/30.0
• ARV discount +8.8/15.0
• DSCR +7.4/10.0
• 1% rule +5.6/10.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome To Lee Rd, Located In A Fast-Growing City Near Major Highways, Shopping, Schools, And Entertainment! Completely Remodeled Ranch Featuring Spacious Living Areas And A Large Yard On A Private Country Lot Offering A Peaceful Setting. No neighbors across the street or on either side. Enjoy Modern Updates Include: New Kitchen with new cabinets and granite countertops, Luxury Vinyl Flooring, Carpet, Paint, Lighting. Has central air And So Much More. .. All While Being Conveniently Located Near Everything You Need. Additional Adjoining Lots Available, Creating A Unique Opportunity For Expansion, Investment, Or Added Value! Call Today For A Private Showing!!

Key facts

• New kitchen
• Remodeled ranch
• Private country lot

Tags

• REMODELED RANCH
• LARGE YARD
• PRIVATE COUNTRY LOT
• NEW KITCHEN
• GRANITE COUNTERTOPS
• LUXURY VINYL FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 8.4% vs local median 3.3% in North Ridgeville — 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 74/100 on livability (#305 in OH, #4,924 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• North Ridgeville City (suburban): math 49% / reading 61% proficiency, ranked #339 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Liberty Elementary School (591 students, 23% FRL); North Ridgeville Academic Center (math 49% / reading 57%, grade C+, #372 of 654 statewide, top 58%, 1,878 students, 22% FRL); North Ridgeville High School (math 39% / reading 72%, grade C, #296 of 781 statewide, top 39%, 1,268 students, 20% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: 202 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 12 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.

Risks & watch-outs

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

Recommended offer $189,900

Questions for the listing agent

1. Built in 1952 — 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. 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?
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.66%
• DSCR: 1.34
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $195,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6171 Lee Rd	0.00mi	3/1.5 (+1)	1,008 (0%)	0mo	$195,000	$193	93
6385 Rosebelle Ave	0.20mi	3/1.5 (+1)	1,056 (+5%)	3mo	$205,000	$194	73
35894 Laurel Cir	0.22mi	3/1.5 (+1)	1,092 (+8%)	4mo	$280,000	$256	66
5949 Jaycox Rd	0.36mi	3/1.0 (+1)	920 (-9%)	0mo	$220,000	$239	64
5825 Jaycox Rd	0.44mi	3/1.5 (+1)	995 (-1%)	9mo	$214,900	$216	63
5940 Jaycox Rd	0.32mi	2/1.0	864 (-14%)	2mo	$99,900	$116	60
35119 Spruce St	0.37mi	3/2.0 (+1)	1,050 (+4%)	14mo	$225,000	$214	55
6320 Jaycox Rd	0.34mi	3/1.0 (+1)	1,085 (+8%)	14mo	$236,000	$218	54
35157 Center Ridge Rd #151	0.62mi	2/2.0	1,088 (+8%)	4mo	$55,500	$51	51
35157 Center Ridge Rd #120	0.71mi	2/1.0	900 (-11%)	3mo	$38,000	$42	46
6323 Olive Ave	0.65mi	2/1.0	1,112 (+10%)	10mo	$169,900	$153	44
35157 Center Ridge Rd #117	0.70mi	2/1.5	900 (-11%)	12mo	$46,750	$52	37

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-9,174
• Equity at exit: $28,315

10-year hold

• IRR: 5.1%
• Equity multiple: 1.37×
• Total profit: $19,792
• Equity at exit: $16,419

Cash invested: $53,172 (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 44039

• Active inventory: 202
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,007 high
• Mortgage (P&I): −$996
• Tax from tax record: −$171 /mo · $2,051/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $339

Break-even live

Break-even rent $1,577

Max offer price $189,900

Occupancy floor 78%

Sensitivity live

Price	-10% $447	-5% $393	+0% $339	+5% $286	+10% $232
Rent	-10% $181	-5% $260	+0% $339	+5% $419	+10% $498
Rate	-1.0pp $435	-0.5pp $388	base $339	+0.5pp $290	+1.0pp $240

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6528 Rosebelle Ave North Ridgeville, OH	3.0	1.0	1200	$2,275	$1.90	21d	1	0.35mi
6401 Forest Park Dr North Ridgeville, OH	2.0	2.0	1180	$1,900	$1.61	9d	1	0.43mi
35143 Bainbridge Rd North Ridgeville, OH	3.0	1.0	1096	$1,979	$1.81	6d	1	1.05mi
6610 Lear Nagle Rd #157 North Ridgeville, OH	3.0	2.0	1344	$1,549	$1.15	45d	1	1.45mi
5498 Broad Blvd North Ridgeville, OH	3.0	1.5	1300	$1,895	$1.46	45d	1	1.47mi
4710 Jaycox Rd Avon, OH	3.0	2.0	1476	$2,299	$1.56	3d	1	1.50mi

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-04-15
   listed $189,900 Active
3. 2026-02-20
   listed $189,900 Active
4. 2026-02-20
   historical
5. 2005-09-23
   historical
6. 2004-06-23
   listed $79,900

ⓘ 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: $2,051 · $171/mo
• Projected year-2 tax: $2,507 · $209/mo
• Expected delta: +$456/yr (+$38/mo · 22.2%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,079
• − Mortgage interest: −$10,637
• − Property taxes: −$2,051
• − Insurance: −$950
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − Depreciation: −$5,524
• Taxable income: $1,064
• Est. tax owed @ 24.0%: −$255
• After-tax cash flow: $3,816/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: North Ridgeville City
• NCES district ID: 3904453
• Math proficiency: 49% ▼ -21.00%
• Reading proficiency: 61% ▼ -11.00%
• Median HH income: $66,437
• Composite: 48.46/100
• National rank: #2130
• State rank: #339 of 656 in OH

Livability — North Ridgeville

• Score: 74/100
• State rank: #305
• US rank: #4924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Ridgeville, OH
• County: Lorain County · 219,437 people
• City population: 36,780
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 36,780
• Household income: $96,485
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 207.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -160.14%
• Current HPI: 210.6074
• Rent YoY: —
• 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

+137.7% since first listed

6 events — show timeline

• 2026-04-27 Pending — MLSNOW
• 2026-04-15 Listed $189,900 MLSNOW
• 2026-02-20 Listing Removed — MLSNOW
• 2026-02-20 Listed $189,900 MLSNOW
• 2005-09-23 Listing Removed — MLSNOW
• 2004-06-23 Listed $79,900 MLSNOW

Property tax history

+6.2%/yr

Latest (2025): $2,051 · -4.3% YoY. Source: county tax records.