182 E Hamilton St · Oberlin, OH 44074

$115,000

4 bd · 2.0 ba · 1,874 sqft · SingleFamily public records · 211 Days on market

Built 1951 0.48 ac 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 +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This spacious four-bedroom home presents an excellent opportunity for buyers seeking a property with renovation potential. While the house currently requires significant repairs and updates, its generous layout and prime location make it a worthwhile investment for those willing to put in the work. Whether you plan to live in it, rent it out, or resell after renovations, this home is a promising canvas for your ideas. Serious buyers only.

Key facts

• Generous layout
• Prime location
• 0.48 acre lot

Tags

• GENEROUS LAYOUT
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 4.0% in Oberlin — 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 83/100 on livability (#62 in OH, #923 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, amenities A; Watch: employment D+, commute F.
• Oberlin City Schools (town): math 41% / reading 56% proficiency, ranked #447 of 656 in OH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 31% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $115k implies a 304% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.66% ✓
• Cap rate: 13.05%
• Cash-on-cash: 24.12%
• DSCR: 2.07
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $236,124
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14409 State Route 58	0.41mi	4/2.0	2,049 (+9%)	0mo	$253,000	$123	65
365 S Pleasant St	0.23mi	3/2.0 (-1)	1,953 (+4%)	22mo	$169,000	$87	59
83 S Pleasant St	0.68mi	5/2.0 (+1)	1,832 (-2%)	3mo	$170,000	$93	57
62 Locust St	0.51mi	3/2.5 (-1)	1,800 (-4%)	8mo	$265,000	$147	56
110 Shipherd Cir	0.70mi	3/2.5 (-1)	1,898 (+1%)	5mo	$239,000	$126	54
45295 Parsons Rd	0.48mi	3/2.5 (-1)	1,766 (-6%)	21mo	$270,000	$153	44
55 Spring St	0.72mi	5/2.0 (+1)	1,944 (+4%)	20mo	$279,275	$144	38

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: 17.4%
• Equity multiple: 1.70×
• Total profit: $22,651
• Equity at exit: $17,147

10-year hold

• IRR: 25.9%
• Equity multiple: 3.27×
• Total profit: $73,078
• Equity at exit: $9,943

Cash invested: $32,200 (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 44074

• Home prices YoY: -25.8%
• Active inventory: 38
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,908 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$210 /mo · $2,514/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $647

Break-even live

Break-even rent $1,089

Max offer price $115,000

Occupancy floor 61%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-09
   status Pending
2. 2025-11-13
   price $115,000
3. 2025-09-08
   listed $140,000 Active
4. 1986-10-31
   soldstatus $28,500

ⓘ 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: $2,514 · $210/mo
• Projected year-2 tax: $2,514 · $210/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 ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,901
• − Mortgage interest: −$6,442
• − Property taxes: −$2,514
• − Insurance: −$575
• − Repairs & maintenance: −$1,832
• − Management: −$1,832
• − Depreciation: −$3,345
• Taxable income: $6,360
• Est. tax owed @ 24.0%: −$1,526
• After-tax cash flow: $6,239/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: Oberlin City Schools
• NCES district ID: 3904459
• Math proficiency: 41% ▼ -21.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $54,514
• Composite: 41.92/100
• National rank: #3362
• State rank: #447 of 656 in OH

Livability — Oberlin

• Score: 83/100
• State rank: #62
• US rank: #923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oberlin, OH
• County: Lorain · 305,041 people
• City population: 11,684
• Metro: Cleveland, OH
• Population (ZIP): 11,684
• Household income: $73,697
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 7.1

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 (75%)
• Race & ethnicity: White 75% Two or more races 11% Black 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -72.36%
• Current HPI: 208.1653
• 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

+303.5% since first listed

4 events — show timeline

• 2026-04-09 Pending — MLSNOW
• 2025-11-13 Price Changed $115,000 MLSNOW
• 2025-09-08 Listed $140,000 MLSNOW
• 1986-10-31 Sold (Public Records) $28,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,514 · -4.1% YoY. Source: county tax records.