345 12th St · Elyria, OH 44035

$82,000

6 bd · 2.0 ba · 2,705 sqft · MultiFamily · 11 Days on market

Built 1900 Poor condition 6,534 sqft lot Est $154k · 47% 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
• Schools +2.4/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

No wholesalers. No Seller financing. No low ball offers. This is a fantastic BRRRR opportunity for investors looking to take on a full-value-add project with serious upside potential! Situated on one parcel, this rare front-and-back duplex offers a total of 6 bedrooms and 2 bathrooms, creating multiple possibilities for future rental income and long-term cash flow. The front home features 4 bedrooms and 1 bathroom with spacious living areas and strong layout potential, while the rear unit offers 2 bedrooms and 1 bathroom, making it ideal for additional rental income, multigenerational living, or a house-hack setup. With the right vision and renovations, this property has the potential to be

Key facts

• 6,534 sq ft lot
• Parking
• Built 1900

Tags

• FRONT AND BACK DUPLEX
• STRONG LAYOUT POTENTIAL
• STRONG COMMUTER ACCESSIBILITY

Property features AI

Finance

• Other: Year built per public records; Total of 11 rooms on the property
• Financial info: Property includes two buildings; Above-grade finished area approximately 2,705 (source: assessor); Lot size approximately 0.15 acres (source: assessor)

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer
• Home design: Two-story building
• Construction: Aluminum and vinyl siding; Asphalt and fiberglass roof
• Exterior features: Driveway

Interior

• Kitchen: No appliance details provided
• Bedrooms: Two-bedroom unit (one unit); Four-bedroom (or more) unit (one unit)
• Bathrooms: Two full bathrooms total across the property; Each unit includes one full bathroom
• Heating & cooling: Forced air heating
• Interior features: Full basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $82k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $573/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Cap rate 23.1% vs local median 3.8% 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: schools C-, 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.
• Market conditions: Rents rising fast (+6.7%/yr); 360 active listings in the ZIP; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• At $2,169/mo this rent would consume 46% of the median local household income ($56k/yr) (locally 2229% 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 $567 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 $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $82,000

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.65% ✓
• Cap rate: 23.08%
• Cash-on-cash: 59.94%
• DSCR: 3.67
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $154,185
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 4th St	0.60mi	6/2.0	2,454 (-9%)	18mo	$140,000	$57	41
231 Oberlin Rd	0.42mi	7/3.0 (+1)	2,306 (-15%)	8mo	$106,000	$46	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: 62.9%
• Equity multiple: 3.97×
• Total profit: $68,256
• Equity at exit: $12,226

10-year hold

• IRR: 68.6%
• Equity multiple: 9.33×
• Total profit: $191,157
• Equity at exit: $7,090

Cash invested: $22,960 (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: 360
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$430
• Tax est. 1.5%: −$102 /mo · $1,230/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $1,147

Break-even live

Break-even rent $717

Max offer price $82,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,203	-5% $1,175	+0% $1,147	+5% $1,118	+10% $1,090
Rent	-10% $975	-5% $1,061	+0% $1,147	+5% $1,233	+10% $1,318
Rate	-1.0pp $1,188	-0.5pp $1,168	base $1,147	+0.5pp $1,126	+1.0pp $1,104

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,170
Total (2 units)			$2,169

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-18
   listed $82,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $26,028
• − Mortgage interest: −$4,593
• − Property taxes: −$1,230
• − Insurance: −$410
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$2,385
• Taxable income: $13,245
• Est. tax owed @ 24.0%: −$3,179
• After-tax cash flow: $10,583/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.

Condition & rehab AI · 30 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations and repairs to bring it up to code and improve its value. The home is currently in poor condition and requires a significant investment in order to be move-in ready.

Repairs flagged

• Major Exposed plumbing in kitchen — Exposed plumbing indicates potential water damage and structural issues.
• Major Exposed plumbing in bathrooms — Exposed plumbing indicates potential water damage and structural issues.
• Major Missing cabinets and countertops in kitchen — Missing cabinets and countertops indicate a lack of functionality and aesthetic appeal.
• Major Missing fixtures and cabinets in bathrooms — Missing fixtures and cabinets indicate a lack of functionality and aesthetic appeal.
• Major Peeling paint and exposed drywall — Peeling paint and exposed drywall indicate potential structural issues and a need for repairs.
• Major Old, worn-out windows — Old, worn-out windows indicate a need for replacement and potential energy inefficiency.
• Major Overgrown yard and general lack of maintenance — Overgrown yard and general lack of maintenance indicate a need for landscaping and maintenance to improve curb appeal.

Value-add opportunities

• Both Kitchen renovation — A new kitchen will increase the home's resale and rental value.
• Both Bathroom renovation — A new bathroom will increase the home's resale and rental value.
• Both Exterior renovation — A new exterior will improve the home's curb appeal and increase its resale and rental value.
• Both HVAC system replacement — A new HVAC system will improve the home's comfort and energy efficiency, increasing its resale and rental value.
• Both Landscaping and maintenance — A well-maintained yard will improve the home's curb appeal and increase its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed plumbing in kitchen · Exposed plumbing indicates potential water damage and structural issues.	Major	$15,000–50,000
Exposed plumbing in bathrooms · Exposed plumbing indicates potential water damage and structural issues.	Major	$15,000–50,000
Missing cabinets and countertops in kitchen · Missing cabinets and countertops indicate a lack of functionality and aesthetic appeal.	Major	$15,000–50,000
Missing fixtures and cabinets in bathrooms · Missing fixtures and cabinets indicate a lack of functionality and aesthetic appeal.	Major	$15,000–50,000
Peeling paint and exposed drywall · Peeling paint and exposed drywall indicate potential structural issues and a need for repairs.	Major	$15,000–50,000
Old, worn-out windows · Old, worn-out windows indicate a need for replacement and potential energy inefficiency.	Major	$15,000–50,000
Overgrown yard and general lack of maintenance · Overgrown yard and general lack of maintenance indicate a need for landscaping and maintenance to improve curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Kitchen renovation — A new kitchen will increase the home's resale and rental value. ↑
• Both Bathroom renovation — A new bathroom will increase the home's resale and rental value. ↑
• Both Exterior renovation — A new exterior will improve the home's curb appeal and increase its resale and rental value. ↑
• Both HVAC system replacement — A new HVAC system will improve the home's comfort and energy efficiency, increasing its resale and rental value. ↑
• Both Landscaping and maintenance — A well-maintained yard will improve the home's curb appeal and increase its resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 2026-05-18 Listed $82,000 MLSNOW