510 E 25th St · Lorain, OH 44055

$69,900

4 bd · 2.0 ba · 1,697 sqft · MultiFamily public records · 108 Days on market

Built 1920 3,920 sqft lot $41/sqft · 24% below area Est $92k · 24% 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
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment property at the end of a quiet street. 2 bedroom, 1 bathroom upstairs, and 2 bedroom, 1 bathroom downstairs. Each unit has its own private entrance. Plenty of parking. Hot water tank was just replaced, and windows have been replaced throughout. Long term tenants in both units.

Key facts

• Plenty of parking
• Private entrance
• Windows replaced

Tags

• PRIVATE ENTRANCE
• PLENTY OF PARKING
• HOT WATER TANK REPLACED
• WINDOWS REPLACED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 27.8% vs local median 5.9% in Lorain — 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 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities D, health & safety D.
• 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.
• Market conditions: 81 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• At $2,202/mo this rent would consume 65% of the median local household income ($41k/yr) (locally 1140% 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 $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $35k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $70k implies a 351% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 3.15% ✓
• Cap rate: 27.77%
• Cash-on-cash: 76.71%
• DSCR: 4.41
• GRM: 2.6

CMA / ARV

• ARV (median comp): $92,273
• List price: $69,900
• Delta: -24.25%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3309 Elyria Ave	0.48mi	5/3.0 (+1)	1,536 (-10%)	9mo	$126,250	$82	45

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: 76.7%
• Equity multiple: 4.49×
• Total profit: $68,391
• Equity at exit: $10,422

10-year hold

• IRR: 80.3%
• Equity multiple: 9.29×
• Total profit: $162,305
• Equity at exit: $6,044

Cash invested: $19,572 (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 44055

• Home prices YoY: -30.5%
• Active inventory: 81
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,202 high
• Mortgage (P&I): −$367
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $1,251

Break-even live

Break-even rent $618

Max offer price $69,900

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,202
Total (2 units)			$2,202

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2909 Denver Ave Lorain, OH	3.0	1.0	1597	$1,400	$0.88	43d	1	0.18mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	43d	1	0.20mi
3132 Elyria Ave Lorain, OH	3.0	1.5	1109	$1,250	$1.13	43d	1	0.34mi
200 E 31st St Lorain, OH	5.0	2.0	1562	$1,550	$0.99	1d	1	0.35mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	43d	1	0.46mi
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	43d	1	0.53mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	23d	1	0.79mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	23d	1	0.80mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	3d	1	0.88mi
1639 E 31st St Unit 1637 Lorain, OH	3.0	1.0	1500	$1,200	$0.80	43d	1	0.88mi
2307 Washington Ave Lorain, OH	1.0–3.0	1.0	880	$1,499	$1.70	1d	1	0.98mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	43d	1	1.07mi
1730 E 30th St Unit 1730 Lorain, OH	3.0	1.0	1120	$1,250	$1.12	43d	1	1.08mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	4d	1	1.11mi
1813 E 30th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	43d	1	1.27mi
1818 E 29th St Unit 1816 Lorain, OH	3.0	1.0	1098	$1,195	$1.09	43d	1	1.28mi
1037 Washington Ave Lorain, OH	4.0	2.0	1567	$1,600	$1.02	17d	1	1.29mi
1763 E 36th St Lorain, OH	5.0	1.5	2000	$1,895	$0.95	1d	1	1.29mi
760 W 9th St Lorain, OH	4.0	2.0	1987	$1,600	$0.81	43d	1	1.33mi
1055 W 12th St Lorain, OH	4.0	1.0	1206	$1,750	$1.45	23d	1	1.35mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	23d	1	1.42mi

Listing history 16 events

1. 2026-06-18
   days on market $69,900 Active 108 DOM
2. 2026-06-17
   days on market $69,900 Active 107 DOM
3. 2026-06-16
   days on market $69,900 Active 106 DOM
4. 2026-06-15
   days on market $69,900 Active 105 DOM
5. 2026-06-13
   days on market $69,900 Active 103 DOM
6. 2026-06-13
   days on market $69,900 Active 102 DOM
7. 2026-06-10
   status $69,900 Active 99 DOM
8. 2026-04-27
   price $69,900 294-char remark

   Show marketing remark (294 chars)

   Great investment property at the end of a quiet street. 2 bedroom, 1 bathroom upstairs, and 2 bedroom, 1 bathroom downstairs. Each unit has its own private entrance. Plenty of parking. Hot water tank was just replaced, and windows have been replaced throughout. Long term tenants in both units.

9. 2026-03-02
   status Active 294-char remark

   Show marketing remark (294 chars)

   Great investment property at the end of a quiet street. 2 bedroom, 1 bathroom upstairs, and 2 bedroom, 1 bathroom downstairs. Each unit has its own private entrance. Plenty of parking. Hot water tank was just replaced, and windows have been replaced throughout. Long term tenants in both units.

10. 2026-02-25
    historical Contingent 294-char remark

    Show marketing remark (294 chars)

    Great investment property at the end of a quiet street. 2 bedroom, 1 bathroom upstairs, and 2 bedroom, 1 bathroom downstairs. Each unit has its own private entrance. Plenty of parking. Hot water tank was just replaced, and windows have been replaced throughout. Long term tenants in both units.

11. 2026-02-23
    status Active 294-char remark

    Show marketing remark (294 chars)

    Great investment property at the end of a quiet street. 2 bedroom, 1 bathroom upstairs, and 2 bedroom, 1 bathroom downstairs. Each unit has its own private entrance. Plenty of parking. Hot water tank was just replaced, and windows have been replaced throughout. Long term tenants in both units.

12. 2026-01-13
    status Pending 294-char remark

    Show marketing remark (294 chars)

    Great investment property at the end of a quiet street. 2 bedroom, 1 bathroom upstairs, and 2 bedroom, 1 bathroom downstairs. Each unit has its own private entrance. Plenty of parking. Hot water tank was just replaced, and windows have been replaced throughout. Long term tenants in both units.

13. 2026-01-09
    listed $105,000 Active 294-char remark

    Show marketing remark (294 chars)

    Great investment property at the end of a quiet street. 2 bedroom, 1 bathroom upstairs, and 2 bedroom, 1 bathroom downstairs. Each unit has its own private entrance. Plenty of parking. Hot water tank was just replaced, and windows have been replaced throughout. Long term tenants in both units.

14. 2004-10-01
    soldstatus $15,500 45-char remark

    Show marketing remark (45 chars)

    Double Being Used As Single. Selling 'as Is'.

15. 2004-09-14
    historical 45-char remark

    Show marketing remark (45 chars)

    Double Being Used As Single. Selling 'as Is'.

16. 2004-06-16
    listed $21,000 45-char remark

    Show marketing remark (45 chars)

    Double Being Used As Single. Selling 'as Is'.

ⓘ 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: $1,114 · $93/mo
• Projected year-2 tax: $1,114 · $93/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,424
• − Mortgage interest: −$3,915
• − Property taxes: −$1,114
• − Insurance: −$350
• − Repairs & maintenance: −$2,114
• − Management: −$2,114
• − Depreciation: −$2,033
• Taxable income: $14,784
• Est. tax owed @ 24.0%: −$3,548
• After-tax cash flow: $11,465/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): 20,043
• Household income: $40,636
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1140.0

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 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 24% Black 14%
• Hispanic origin (detail): Mexican 7% Puerto Rican 27%
• Common ancestry: Romanian 5% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala
• Languages at home: 75% English-only · Spanish 23%

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: ▼ -79.26%
• Current HPI: 180.9309
• 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

+232.9% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $69,900 MLSNOW
• 2026-03-02 Relisted — MLSNOW
• 2026-02-25 Contingent — MLSNOW
• 2026-02-23 Relisted — MLSNOW
• 2026-01-13 Pending — MLSNOW
• 2026-01-09 Listed $105,000 MLSNOW
• 2004-10-01 Sold (MLS) $15,500 MLSNOW
• 2004-09-14 Listing Removed — MLSNOW
• 2004-06-16 Listed $21,000 MLSNOW

Property tax history

+3.3%/yr

Latest (2025): $1,114 · -4.9% YoY. Source: county tax records.