132 Irondale St · Elyria, OH 44035

$79,900

3 bd · 2.0 ba · 1,875 sqft · SingleFamily public records · 24 Days on market

Built 1900 4,791 sqft lot Est $159k · 50% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of room for potential in this Elyria home. Updates and improvements needed with your personal touch! Good sized rooms. Make offers! SOLD AS-IS CONDITION. Seller mandates only offers from owner occupants or public entities (and their designated partners) will be considered within the first 15 days of it being on the market. All other offers will be considered AFTER midnight on the 16th day. Buyer responsible for due diligence and inquiry of all property info. and condition.

Key facts

• Full basement
• 4,791 sq ft lot
• Garage

Tags

• FULL BATH ON EACH LEVEL
• FULL BASEMENT
• WALK-UP THIRD-FLOOR ATTIC
• ALUMINUM-SIDED EXTERIOR
• UPGRADED VINYL WINDOWS
• WELCOMING FRONT PORCH

Property features AI

Exterior

• Parking: Detached paved garage
• Utilities: Public water; Public sewer; Public power (standard)
• Home design: 3-story building; Aluminum siding exterior; Asphalt/fiberglass roof
• Construction: Built (year per public records); Aluminum siding construction; Asphalt/fiberglass roof; Full unfinished basement (below grade finished area present)
• Exterior features: Porch; Partial fencing; Lot dimensions approximately 40 x 120

Interior

• Bedrooms: Total of 6 rooms (bedrooms and living areas included)
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas heating
• Interior features: Full unfinished basement
• Laundry & utility: Laundry location: in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% 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: Hamilton Elementary School (math 8% / reading 17%, grade F, #1,434 of 1,584 statewide, top 92%, 421 students, 90% 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 average 84% FRL vs 58% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 359 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 31% 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 $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $16k; list at $80k implies a 399% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.82% ✓
• Cap rate: 14.61%
• Cash-on-cash: 29.69%
• DSCR: 2.32
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $159,375
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6234 W River Rd S	0.06mi	2/1.0 (-1)	1,612 (-14%)	9mo	$75,000	$47	58
237 Gates Ave	0.65mi	4/2.0 (+1)	1,880 (+0%)	9mo	$77,500	$41	57
420 East Ave	0.70mi	3/1.5	1,767 (-6%)	1mo	$150,000	$85	55
354 11th St	0.54mi	3/1.0	1,711 (-9%)	10mo	$60,000	$35	48
339 15th St	0.73mi	3/1.0	1,747 (-7%)	6mo	$130,000	$74	46
236-238 9th St	0.63mi	4/2.0 (+1)	2,050 (+9%)	14mo	$150,000	$73	39
121 Parkview Ct	0.74mi	4/1.0 (+1)	1,714 (-9%)	5mo	$165,000	$96	38
132 Willow Way	0.66mi	3/2.0	1,628 (-13%)	11mo	$383,680	$236	38
1206 Middle Ave	0.71mi	4/2.0 (+1)	1,669 (-11%)	10mo	$165,000	$99	35
1208 Middle Ave	0.71mi	3/1.5	2,078 (+11%)	16mo	$70,000	$34	33
129 Willow Way	0.66mi	4/3.0 (+1)	2,099 (+12%)	12mo	$372,000	$177	31
906 Oak Point Cir	0.66mi	4/4.0 (+1)	2,099 (+12%)	16mo	$379,990	$181	23

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: 28.6%
• Equity multiple: 2.25×
• Total profit: $28,044
• Equity at exit: $11,913

10-year hold

• IRR: 38.2%
• Equity multiple: 5.26×
• Total profit: $95,213
• Equity at exit: $6,908

Cash invested: $22,372 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,456 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$144 /mo · $1,730/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $554

Break-even live

Break-even rent $755

Max offer price $79,900

Occupancy floor 57%

Sensitivity live

Price	-10% $599	-5% $576	+0% $554	+5% $531	+10% $508
Rent	-10% $439	-5% $496	+0% $554	+5% $611	+10% $669
Rate	-1.0pp $594	-0.5pp $574	base $554	+0.5pp $533	+1.0pp $512

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Lake Ave Unit 100 Rush Elyria, OH	3.0	1.0	1248	$1,099	$0.88	6d	1	1.00mi
100 Rush St Elyria, OH	3.0	1.0	1248	$1,099	$0.88	9d	1	1.00mi
222 Georgia Ave Elyria, OH	3.0	2.5	1850	$1,750	$0.95	3d	1	1.21mi
9005 Murray Ridge Rd Elyria, OH	3.0	3.5	1950	$2,095	$1.07	3d	1	1.35mi

Listing history 24 events

1. 2026-06-21
   days on market $79,900 Active 24 DOM
2. 2026-06-18
   days on market $79,900 Active 21 DOM
3. 2026-06-17
   days on market $79,900 Active 20 DOM
4. 2026-06-16
   days on market $79,900 Active 19 DOM
5. 2026-06-15
   days on market $79,900 Active 18 DOM
6. 2026-06-13
   days on market $79,900 Active 16 DOM
7. 2026-06-13
   days on market $79,900 Active 15 DOM
8. 2026-06-09
   days on market $79,900 Active 12 DOM
9. 2026-06-08
   days on market $79,900 Active 11 DOM
10. 2026-06-07
    days on market $79,900 Active 10 DOM
11. 2026-06-03
    days on market $79,900 Active 6 DOM
12. 2026-06-02
    days on market $79,900 Active 5 DOM
13. 2026-06-01
    days on market $79,900 Active 4 DOM
14. 2026-05-31
    days on market $79,900 Active 3 DOM
15. 2026-05-28
    listed $79,900 Active
16. 2025-08-26
    historical
17. 2025-05-14
    listed $85,000 Active
18. 2010-11-15
    soldstatus $16,000 482-char remark

    Show marketing remark (482 chars)

    Lots of room for potential in this Elyria home. Updates and improvements needed with your personal touch! Good sized rooms. Make offers! SOLD AS-IS CONDITION. Seller mandates only offers from owner occupants or public entities (and their designated partners) will be considered within the first 15 days of it being on the market. All other offers will be considered AFTER midnight on the 16th day. Buyer responsible for due diligence and inquiry of all property info. and condition.

19. 2010-10-06
    historical
20. 2010-09-30
    listed $19,900

    Show marketing remark (482 chars)

    Lots of room for potential in this Elyria home. Updates and improvements needed with your personal touch! Good sized rooms. Make offers! SOLD AS-IS CONDITION. Seller mandates only offers from owner occupants or public entities (and their designated partners) will be considered within the first 15 days of it being on the market. All other offers will be considered AFTER midnight on the 16th day. Buyer responsible for due diligence and inquiry of all property info. and condition.

21. 2010-09-30
    listed $18,900 482-char remark

    Show marketing remark (482 chars)

    Lots of room for potential in this Elyria home. Updates and improvements needed with your personal touch! Good sized rooms. Make offers! SOLD AS-IS CONDITION. Seller mandates only offers from owner occupants or public entities (and their designated partners) will be considered within the first 15 days of it being on the market. All other offers will be considered AFTER midnight on the 16th day. Buyer responsible for due diligence and inquiry of all property info. and condition.

22. 2010-09-23
    historical
23. 2010-06-17
    listed $24,900
24. 1990-06-27
    soldstatus $14,000

ⓘ 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: $1,730 · $144/mo
• Projected year-2 tax: $1,730 · $144/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 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: $17,470
• − Mortgage interest: −$4,476
• − Property taxes: −$1,730
• − Insurance: −$400
• − Repairs & maintenance: −$1,398
• − Management: −$1,398
• − Depreciation: −$2,324
• Taxable income: $5,745
• Est. tax owed @ 24.0%: −$1,379
• After-tax cash flow: $5,264/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

+470.7% since first listed

10 events — show timeline

• 2026-05-28 Listed $79,900 MLSNOW
• 2025-08-26 Listing Removed — MLSNOW
• 2025-05-14 Listed $85,000 MLSNOW
• 2010-11-15 Sold (MLS) $16,000 MLSNOW
• 2010-10-06 Listing Removed — MLSNOW
• 2010-09-30 Listed $18,900 MLSNOW
• 2010-09-30 Listed $19,900 MLSNOW
• 2010-09-23 Listing Removed — MLSNOW
• 2010-06-17 Listed $24,900 MLSNOW
• 1990-06-27 Sold (Public Records) $14,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,730 · +1.5% YoY. Source: county tax records.