284 Clay · Conneaut, OH 44030

$35,000

3 bd · 2.0 ba · 1,575 sqft · SingleFamily public records · 9 Days on market

Built 1910 8,276 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investment opportunity! 3 bedrooms, could possibly be 4. Large eat-in-kitchen, with cabinets replaced 3 years ago. Wood French doors leading into the formal dining room. First floor laundry room. Large office. Family room with wood French doors. Entryway features stained glass windows Furnace , Hot water tank and carpet 3 years old.

Key facts

• Fenced yard
• Large eat-in-kitchen
• 8,276 sq ft lot

Tags

• FENCED YARD
• LARGE EAT-IN-KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 28.2% vs local median 4.6% in Conneaut — 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 63/100 on livability (#808 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, health & safety D.
• Conneaut Area City (town): math 35% / reading 50% proficiency, ranked #527 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ashtabula County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 3.25% ✓
• Cap rate: 28.20%
• Cash-on-cash: 78.26%
• DSCR: 4.48
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $110,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
284 Clay	0.00mi	3/1.0	1,575 (0%)	1mo	$32,500	$21	95
178 Marshall St	0.17mi	3/2.0	1,660 (+5%)	4mo	$159,500	$96	80
366 Old Main Rd	0.44mi	3/2.0	1,573 (-0%)	1mo	$165,000	$105	79
386 Washington St	0.22mi	3/2.0	1,404 (-11%)	2mo	$35,340	$25	70
281 Depot St	0.34mi	3/2.0	1,478 (-6%)	8mo	$130,000	$88	67
143 Evergreen St	0.04mi	3/1.0	1,344 (-15%)	4mo	$90,000	$67	66
404 Viaduct St	0.52mi	3/1.5	1,500 (-5%)	4mo	$126,660	$84	63
475 State St	0.65mi	3/2.0	1,652 (+5%)	1mo	$115,000	$70	61
381 Bliss Ave	0.53mi	3/1.5	1,440 (-9%)	8mo	$85,000	$59	52
462 Monroe St	0.62mi	4/1.0 (+1)	1,538 (-2%)	9mo	$108,000	$70	51
555 Wrights Ave	0.59mi	3/1.5	1,380 (-12%)	4mo	$95,000	$69	47
527 State St	0.74mi	4/1.5 (+1)	1,504 (-4%)	7mo	$46,901	$31	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: 78.3%
• Equity multiple: 4.58×
• Total profit: $35,061
• Equity at exit: $5,219

10-year hold

• IRR: 81.9%
• Equity multiple: 9.48×
• Total profit: $83,058
• Equity at exit: $3,026

Cash invested: $9,800 (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 44030

• Home prices YoY: -10.8%
• Active inventory: 59
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$61 /mo · $735/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $639

Break-even live

Break-even rent $328

Max offer price $35,000

Occupancy floor 39%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-20
   status Pending
2. 2026-04-10
   listed $35,000 Active
3. 2019-05-14
   soldstatus $46,500 Sold 346-char remark

   Show marketing remark (346 chars)

   Excellent investment opportunity! 3 bedrooms, could possibly be 4. Large eat-in-kitchen, with cabinets replaced 3 years ago. Wood French doors leading into the formal dining room. First floor laundry room. Large office. Family room with wood French doors. Entryway features stained glass windows Furnace , Hot water tank and carpet 3 years old.

4. 2019-05-14
   soldstatus $46,500

   Show marketing remark (346 chars)

   Excellent investment opportunity! 3 bedrooms, could possibly be 4. Large eat-in-kitchen, with cabinets replaced 3 years ago. Wood French doors leading into the formal dining room. First floor laundry room. Large office. Family room with wood French doors. Entryway features stained glass windows Furnace , Hot water tank and carpet 3 years old.

5. 2019-05-04
   status Pending 346-char remark

   Show marketing remark (346 chars)

   Excellent investment opportunity! 3 bedrooms, could possibly be 4. Large eat-in-kitchen, with cabinets replaced 3 years ago. Wood French doors leading into the formal dining room. First floor laundry room. Large office. Family room with wood French doors. Entryway features stained glass windows Furnace , Hot water tank and carpet 3 years old.

6. 2019-04-07
   historical Contingent 346-char remark

   Show marketing remark (346 chars)

   Excellent investment opportunity! 3 bedrooms, could possibly be 4. Large eat-in-kitchen, with cabinets replaced 3 years ago. Wood French doors leading into the formal dining room. First floor laundry room. Large office. Family room with wood French doors. Entryway features stained glass windows Furnace , Hot water tank and carpet 3 years old.

7. 2019-02-16
   listed $48,000 Active 346-char remark

   Show marketing remark (346 chars)

   Excellent investment opportunity! 3 bedrooms, could possibly be 4. Large eat-in-kitchen, with cabinets replaced 3 years ago. Wood French doors leading into the formal dining room. First floor laundry room. Large office. Family room with wood French doors. Entryway features stained glass windows Furnace , Hot water tank and carpet 3 years old.

8. 2016-06-03
   historical
9. 2016-05-25
   price $59,500
10. 2016-05-03
    listed $61,500 Active
11. 2001-02-21
    historical
12. 2000-08-21
    listed $42,500
13. 1995-05-02
    soldstatus $25,000

ⓘ 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: $735 · $61/mo
• Projected year-2 tax: $735 · $61/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 2/10 Low 7 d/yr ≥93°F today · 17 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: $13,647
• − Mortgage interest: −$1,961
• − Property taxes: −$735
• − Insurance: −$175
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$1,018
• Taxable income: $7,575
• Est. tax owed @ 24.0%: −$1,818
• After-tax cash flow: $5,851/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: Conneaut Area City
• NCES district ID: 3904381
• Math proficiency: 35% ▼ -18.00%
• Reading proficiency: 50% ▼ -12.00%
• Median HH income: $38,064
• Composite: 35.37/100
• National rank: #4953
• State rank: #527 of 656 in OH

Livability — Conneaut

• Score: 63/100
• State rank: #808
• US rank: #14907

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D- Housing A+ Health & safety D User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Conneaut, OH
• County: Ashtabula · 97,617 people
• City population: 16,317
• Metro: Cleveland, OH
• Population (ZIP): 16,317
• Household income: $57,264
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 11.2

Population outlook (Ashtabula County) Hauer SSP2

• Today (2025): 92,950 people
• By 2030: 89,146 · -4.1%
• By 2040: 80,715 · -13.2%
• By 2050: 72,270 · -22.2%
• By 2075: 55,780 · -40.0%
• By 2100: 40,928 · -56.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ashtabula

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.8%
• 2008→2024 swing: -41.9pp toward R · 2008: 13.5pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+23.5 2016: R+19.0 2012: D+12.1 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.21%
• Current HPI: 265.5019
• Rent YoY: —
• Metro: —
• 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

+40.0% since first listed

13 events — show timeline

• 2026-04-20 Pending — MLSNOW
• 2026-04-10 Listed $35,000 MLSNOW
• 2019-05-14 Sold (Public Records) $46,500 Public Records
• 2019-05-14 Sold (MLS) $46,500 MLSNOW
• 2019-05-04 Pending — MLSNOW
• 2019-04-07 Contingent — MLSNOW
• 2019-02-16 Listed $48,000 MLSNOW
• 2016-06-03 Listing Removed — MLSNOW
• 2016-05-25 Price Changed $59,500 MLSNOW
• 2016-05-03 Listed $61,500 MLSNOW
• 2001-02-21 Listing Removed — MLSNOW
• 2000-08-21 Listed $42,500 MLSNOW
• 1995-05-02 Sold (Public Records) $25,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $735 · -31.8% YoY. Source: county tax records.