None · Elyria, OH 44035

$54,500

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 3 Days on market

Built 1900 3,920 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Plenty of interior space including partially finished walk-up attic which could be 4th bedroom. No interior photos at this time because property has yet to be cleaned out. Lots of potential here!

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Cap rate 17.1% 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: 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $377 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $10k; list at $54k implies a 451% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,500

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.13% ✓
• Cap rate: 17.09%
• Cash-on-cash: 38.55%
• DSCR: 2.72
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $177,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
343 Furnace St	0.00mi	3/1.0	1,400 (0%)	1mo	$45,000	$32	99
160 Erie St	0.26mi	3/1.5	1,413 (+1%)	4mo	$56,000	$40	81
757 W River Rd N	0.08mi	3/2.0	1,448 (+3%)	10mo	$186,000	$128	78
747 W River Rd N	0.09mi	3/1.0	1,556 (+11%)	2mo	$82,000	$53	76
421 Adams St	0.58mi	3/1.5	1,352 (-3%)	9mo	$86,000	$64	58
315 Ohio St	0.64mi	3/2.0	1,392 (-1%)	9mo	$212,000	$152	58
259 Hamilton Ave	0.55mi	2/1.5 (-1)	1,320 (-6%)	10mo	$190,000	$144	49
827 Bond St	0.69mi	3/1.0	1,258 (-10%)	3mo	$125,000	$99	48
659 Weller Rd	0.57mi	3/1.0	1,190 (-15%)	1mo	$151,000	$127	47
269 Hamilton Ave	0.57mi	3/1.0	1,607 (+15%)	2mo	$205,500	$128	47
614 Weller	0.62mi	3/1.0	1,196 (-15%)	4mo	$170,000	$142	43
568 Turner St	0.71mi	4/2.0 (+1)	1,578 (+13%)	4mo	$180,000	$114	33

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: 39.1%
• Equity multiple: 2.77×
• Total profit: $26,970
• Equity at exit: $8,126

10-year hold

• IRR: 47.5%
• Equity multiple: 6.50×
• Total profit: $83,976
• Equity at exit: $4,712

Cash invested: $15,260 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,161 high
• Mortgage (P&I): −$286
• Tax from tax record: −$119 /mo · $1,423/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $490

Break-even live

Break-even rent $541

Max offer price $54,500

Occupancy floor 53%

Sensitivity live

Price	-10% $521	-5% $506	+0% $490	+5% $475	+10% $459
Rent	-10% $398	-5% $444	+0% $490	+5% $536	+10% $582
Rate	-1.0pp $518	-0.5pp $504	base $490	+0.5pp $476	+1.0pp $462

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: $13,625
• Closing costs: $1,635
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	5d	1	0.47mi
100 Rush St Elyria, OH	3.0	1.0	1248	$1,099	$0.88	8d	1	0.48mi
116 Water St Elyria, OH	2.0	1.0	888	$1,100	$1.24	24d	1	0.63mi
944 Walnut St Elyria, OH	2.0	1.0	1064	$1,200	$1.13	18d	1	0.94mi
1780 Lorain Blvd Elyria, OH	2.0–3.0	1.0–2.0	916	$1,100	$1.20	2d	1	1.32mi

Listing history 3 events

1. 2026-05-14
   status Pending
2. 2026-05-08
   listed $54,500 Active
3. 1988-04-29
   soldstatus $9,900

ⓘ 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: $1,423 · $119/mo
• Projected year-2 tax: $1,423 · $119/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: $13,933
• − Mortgage interest: −$3,053
• − Property taxes: −$1,423
• − Insurance: −$272
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$1,585
• Taxable income: $5,370
• Est. tax owed @ 24.0%: −$1,289
• After-tax cash flow: $4,593/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

+450.5% since first listed

3 events — show timeline

• 2026-05-14 Pending — MLSNOW
• 2026-05-08 Listed $54,500 MLSNOW
• 1988-04-29 Sold (Public Records) $9,900 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,423 · +1.4% YoY. Source: county tax records.