235 Cedar Brook Dr · Elyria, OH 44035

$44,900

3 bd · 2.0 ba · 924 sqft · SingleFamily · 76 Days on market

Built 2021 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Key facts

• Built 2021
• Listed 76 days

Property features AI

Finance

• Other: Above-grade finished area reported at 924 (owner source)
• Financial info: Property has a land lease of $500

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer
• Home design: Single-story home; Vinyl siding exterior; Asphalt/fiberglass roof
• Construction: Built by owner (year built source: Owner)
• Exterior features: Parking lot

Interior

• Kitchen: Main-level kitchen
• Bedrooms: Three main-level bedrooms
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Electric forced-air heating
• Interior features: First-floor living with main-level bedrooms; Main-level laundry
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.5% 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: Westwood Elementary School (math 17% / reading 32%, grade F, #1,217 of 1,584 statewide, top 78%, 489 students, 77% FRL); Westwood Middle School (math 19% / reading 33%, grade F, #587 of 654 statewide, top 90%, 489 students, 76% FRL); Elyria High School (math 20% / reading 47%, grade F, #598 of 781 statewide, top 77%, 1,639 students, 62% FRL).
• Market conditions: Rents rising fast (+6.7%/yr); 359 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 3804% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $42,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.48% ✓
• Cap rate: 21.50%
• Cash-on-cash: 54.31%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $28,644
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Cedar Brook Dr	0.02mi	3/2.0	924 (0%)	1mo	$47,500	$51	99
110 Larkstone Pl	0.06mi	3/2.0	924 (0%)	4mo	$39,900	$43	94
155 Cedar Brook Dr	0.21mi	3/2.0	924 (0%)	3mo	$35,000	$38	88
135 Fox Chase	0.12mi	2/1.0 (-1)	952 (+3%)	9mo	$10,000	$11	72
135 Cedar Brook Dr	0.19mi	2/2.0 (-1)	810 (-12%)	7mo	$21,000	$26	60
131 Hickory Cir	0.43mi	2/1.0 (-1)	952 (+3%)	8mo	$24,000	$25	59
116 Hickory Cir	0.39mi	2/1.0 (-1)	980 (+6%)	8mo	$29,900	$31	56
335 Ashwood Dr	0.39mi	2/2.0 (-1)	975 (+6%)	18mo	$17,000	$17	53

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: 56.7%
• Equity multiple: 3.65×
• Total profit: $33,325
• Equity at exit: $6,695

10-year hold

• IRR: 63.0%
• Equity multiple: 8.56×
• Total profit: $95,010
• Equity at exit: $3,882

Cash invested: $12,572 (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 44035

• Rents YoY: 6.7%
• Active inventory: 359
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,113 high
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $569

Break-even live

Break-even rent $393

Max offer price $44,900

Occupancy floor 44%

Sensitivity live

Price	-10% $600	-5% $584	+0% $569	+5% $553	+10% $538
Rent	-10% $481	-5% $525	+0% $569	+5% $613	+10% $657
Rate	-1.0pp $592	-0.5pp $580	base $569	+0.5pp $557	+1.0pp $546

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 Cedar Brook Dr Elyria, OH	3.0	2.0	924	$1,150	$1.24	3d	1	0.03mi
1891 Turner Blvd Elyria, OH	2.0	1.0	700	$875	$1.25	5d	1	0.65mi
1891 Turner Blvd Unit H Elyria, OH	2.0	1.0	700	$875	$1.25	9d	1	0.65mi
1875 Turner Blvd Unit D Elyria, OH	2.0	1.0	700	$850	$1.21	45d	1	0.67mi
1875 Turner Blvd Elyria, OH	2.0	1.0	700	$840	$1.20	3d	1	0.67mi
1877 Turner Blvd Elyria, OH	2.0	1.0	700	$850	$1.21	3d	1	0.69mi

Listing history 10 events

1. 2026-06-09
   days on market $44,900 Active 76 DOM
2. 2026-06-08
   days on market $44,900 Active 75 DOM
3. 2026-06-07
   days on market $44,900 Active 74 DOM
4. 2026-06-03
   days on market $44,900 Active 70 DOM
5. 2026-06-02
   days on market $44,900 Active 69 DOM
6. 2026-06-01
   days on market $44,900 Active 68 DOM
7. 2026-05-31
   days on market $44,900 Active 67 DOM
8. 2026-05-22
   historical $1,150
9. 2026-03-26
   listed $1,150
10. 2026-03-25
    listed $44,900 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,356
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$224
• − Repairs & maintenance: −$1,068
• − Management: −$1,068
• − Depreciation: −$1,306
• Taxable income: $6,500
• Est. tax owed @ 24.0%: −$1,560
• After-tax cash flow: $5,268/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 · 9 photos

Good 80/100 Cosmetic rehab

This single-family home is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minimal repairs or maintenance. The highest-ROI updates that would raise its value are painting the exterior siding and landscaping improvements.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Both Adding a small patio or deck — Can increase both resale and rental value by adding outdoor living space.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Adding a small patio or deck — Can increase both resale and rental value by adding outdoor living space. ↑

ⓘ 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

-97.4% since first listed

3 events — show timeline

• 2026-05-22 Rental Removed $1,150 YESMLS
• 2026-03-26 Listed for Rent $1,150 YESMLS
• 2026-03-25 Listed $44,900 MLSNOW