7512 Tyler Blvd · Mentor, OH 44060

$399,900

5 bd · 3.0 ba · 1,836 sqft · MultiFamily public records · 18 Days on market

Built 1955 0.54 ac lot

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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 +28.2/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Turn-Key Four Family Colonial 100% Occupied. On site laundry facility generates $200-$300.00 monthly. Generous Parking Available. All Separate Meters. Tenant Pays electric/Gas. Owner pays Water , Sewer approximately $100.00 month & Trash $75.00 month. Updated Electric & Wiring, Renovated in 2008 floors, baths, & kitchens. Newer roof within the last year. Gorgeous lot. Baseboard and Gas Heating.

Key facts

• Onsite parking
• Investment property
• 4 plex

Tags

• 4 PLEX
• INVESTMENT PROPERTY
• REDEVELOPMENT POTENTIAL
• COMMERCIAL DEVELOPMENT
• FREEWAY ACCESS
• ONSITE PARKING

Property features AI

Finance

• Financial info: Gross income reported at $3,600; Operating expenses reported at $543; Owner pays common area maintenance, exterior maintenance, gas, heat, hot water, snow removal, sewer, taxes, trash collection, and water; Tenants pay cable TV, electricity, and internet; Several units currently leased with listed actual rents: $1,200; $1,000; $1,000; $700; $600

Exterior

• Parking: Common paved parking on site with concrete driveway
• Utilities: Public water; Public sewer
• Home design: Property faces north; Two total stories (building count: 2); some units on ground and second levels
• Construction: Asphalt roof; Asphalt construction material; Has home warranty; Built (year source: assessor)
• Exterior features: Private yard; Storage; Back yard; Fenced yard; Rectangular lot

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Multiple units: three 3-bedroom units, one 2-bedroom unit, one 1-bedroom unit (unit-level locations: ground level, second floor, south unit noted)
• Bathrooms: Four full bathrooms total in the property; individual units each have one bathroom
• Heating & cooling: Gas heating with baseboard units; Cooling via ceiling fans and window/wall units; multiple-unit cooling setup
• Interior features: Ceiling fan(s); Blinds and window coverings
• Laundry & utility: Washer and dryer included; Laundry located in a common area and inside on the main level (laundry room)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $318/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $394k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: employment A+, cost of living A+, housing 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.
• Zoned schools: Ridge Elementary School (math 69% / reading 70%, grade A-, #391 of 1,584 statewide, top 27%, 704 students, 0% FRL); Mentor High School (math 48% / reading 76%, grade B-, #202 of 781 statewide, top 29%, 2,405 students, 20% FRL).
• Market conditions: Rents rising fast (+5.5%/yr); 267 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• At $4,795/mo this rent would consume 66% of the median local household income ($88k/yr) (locally 883% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $112k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $250k; list at $400k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $393,901 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.65%
• DSCR: 1.61
• GRM: 6.9

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: 6.4%
• Equity multiple: 1.26×
• Total profit: $28,794
• Equity at exit: $59,626

10-year hold

• IRR: 17.8%
• Equity multiple: 2.64×
• Total profit: $183,506
• Equity at exit: $34,576

Cash invested: $111,972 (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 44060

• Rents YoY: 5.5%
• Active inventory: 267
• Price-to-rent: 27.8×

Monthly cashflow live

• Estimated rent: $4,795 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$251 /mo · $3,009/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,007
• Net cashflow: $1,274

Break-even live

Break-even rent $3,183

Max offer price $399,900

Occupancy floor 68%

Sensitivity live

Price	-10% $1,500	-5% $1,387	+0% $1,274	+5% $1,160	+10% $1,047
Rent	-10% $895	-5% $1,084	+0% $1,274	+5% $1,463	+10% $1,652
Rate	-1.0pp $1,475	-0.5pp $1,375	base $1,274	+0.5pp $1,170	+1.0pp $1,064

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,796
Total (4 units)			$4,795

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7267 Hayes Blvd Mentor, OH	4.0	3.0	2516	$3,499	$1.39	45d	1	0.88mi

Listing history 15 events

1. 2026-05-08
   listed $399,900 Active 1020-char remark
2. 2021-08-19
   soldstatus $250,000 Closed 414-char remark

   Show marketing remark (414 chars)

   Turn-Key Four Family Colonial 100% Occupied. On site laundry facility generates $200-$300.00 monthly. Generous Parking Available. All Separate Meters. Tenant Pays electric/Gas. Owner pays Water , Sewer approximately $100.00 month & Trash $75.00 month. Updated Electric & Wiring, Renovated in 2008 floors, baths, & kitchens. Newer roof within the last year. Gorgeous lot. Baseboard and Gas Heating.

3. 2021-08-03
   status Pending 414-char remark

   Show marketing remark (414 chars)

   Turn-Key Four Family Colonial 100% Occupied. On site laundry facility generates $200-$300.00 monthly. Generous Parking Available. All Separate Meters. Tenant Pays electric/Gas. Owner pays Water , Sewer approximately $100.00 month & Trash $75.00 month. Updated Electric & Wiring, Renovated in 2008 floors, baths, & kitchens. Newer roof within the last year. Gorgeous lot. Baseboard and Gas Heating.

4. 2021-07-29
   price $259,000 414-char remark

   Show marketing remark (414 chars)

   Turn-Key Four Family Colonial 100% Occupied. On site laundry facility generates $200-$300.00 monthly. Generous Parking Available. All Separate Meters. Tenant Pays electric/Gas. Owner pays Water , Sewer approximately $100.00 month & Trash $75.00 month. Updated Electric & Wiring, Renovated in 2008 floors, baths, & kitchens. Newer roof within the last year. Gorgeous lot. Baseboard and Gas Heating.

5. 2021-07-09
   status Active 414-char remark

   Show marketing remark (414 chars)

   Turn-Key Four Family Colonial 100% Occupied. On site laundry facility generates $200-$300.00 monthly. Generous Parking Available. All Separate Meters. Tenant Pays electric/Gas. Owner pays Water , Sewer approximately $100.00 month & Trash $75.00 month. Updated Electric & Wiring, Renovated in 2008 floors, baths, & kitchens. Newer roof within the last year. Gorgeous lot. Baseboard and Gas Heating.

6. 2021-06-24
   listed $275,000 Active 414-char remark

   Show marketing remark (414 chars)

   Turn-Key Four Family Colonial 100% Occupied. On site laundry facility generates $200-$300.00 monthly. Generous Parking Available. All Separate Meters. Tenant Pays electric/Gas. Owner pays Water , Sewer approximately $100.00 month & Trash $75.00 month. Updated Electric & Wiring, Renovated in 2008 floors, baths, & kitchens. Newer roof within the last year. Gorgeous lot. Baseboard and Gas Heating.

7. 2021-06-15
   historical $275,000 414-char remark

   Show marketing remark (414 chars)

   Turn-Key Four Family Colonial 100% Occupied. On site laundry facility generates $200-$300.00 monthly. Generous Parking Available. All Separate Meters. Tenant Pays electric/Gas. Owner pays Water , Sewer approximately $100.00 month & Trash $75.00 month. Updated Electric & Wiring, Renovated in 2008 floors, baths, & kitchens. Newer roof within the last year. Gorgeous lot. Baseboard and Gas Heating.

8. 2010-08-30
   historical
9. 2009-08-04
   listed $195,000
10. 2008-03-20
    historical
11. 2007-04-05
    listed $329,900
12. 2006-01-19
    soldstatus $160,000
13. 2006-01-13
    soldstatus $160,000
14. 2005-09-03
    listed $189,500
15. 1995-01-04
    soldstatus $156,500

ⓘ 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: $3,009 · $251/mo
• Projected year-2 tax: $4,624 · $385/mo
• Expected delta: +$1,614/yr (+$135/mo · 53.6%)

ⓘ 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 ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,540
• − Mortgage interest: −$22,401
• − Property taxes: −$3,009
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,603
• − Management: −$4,603
• − Depreciation: −$11,633
• Taxable income: $9,291
• Est. tax owed @ 24.0%: −$2,230
• After-tax cash flow: $13,052/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: 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

+155.5% since first listed

16 events — show timeline

• 2026-05-27 Pending — MLSNOW
• 2026-05-08 Listed $399,900 MLSNOW
• 2021-08-19 Sold (MLS) $250,000 MLSNOW
• 2021-08-03 Pending — MLSNOW
• 2021-07-29 Price Changed $259,000 MLSNOW
• 2021-07-09 Relisted — MLSNOW
• 2021-06-24 Listed $275,000 MLSNOW
• 2021-06-15 Coming Soon $275,000 MLSNOW
• 2010-08-30 Listing Removed — MLSNOW
• 2009-08-04 Listed $195,000 MLSNOW
• 2008-03-20 Listing Removed — MLSNOW
• 2007-04-05 Listed $329,900 MLSNOW
• 2006-01-19 Sold (MLS) $160,000 MLSNOW
• 2006-01-13 Sold (Public Records) $160,000 Public Records
• 2005-09-03 Listed $189,500 MLSNOW
• 1995-01-04 Sold (Public Records) $156,500 Public Records

Property tax history

-0.8%/yr

Latest (2025): $3,009 · -0.5% YoY. Source: county tax records.