1361 Cleveland Rd W Unit C · Huron, OH 44839

$199,900

3 bd · 1.5 ba · 1,380 sqft · Condo public records · 158 Days on market

Built 1975 $247/mo HOA · 12% of rent ↓ 11% since listing

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Why this score? — see what drove the C- 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 +18.3/30.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• DSCR +5.7/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1361 Cleveland Rd #C – A Well-Kept Townhouse Just Steps from Lake Erie! Located in a quiet, beautifully maintained development, this move-in-ready home offers comfortable living, modern updates, and unbeatable access to the lake — all just minutes from the highway, Huron’s town center, marinas, and local amenities. Step inside to a welcoming foyer that opens into a bright and spacious living room filled with natural light. Toward the back of the home, the open-concept kitchen and dining area create a warm, functional space perfect for everyday living and entertaining. The dining room features updated LVP flooring and sliding doors that lead to a private, cozy co

Key facts

• Cozy courtyard
• Private balcony
• Open-concept kitchen

Tags

• LAKE ACCESS
• PRIVATE BALCONY
• SHARED PATIO
• COZY COURTYARD
• UPDATED FULL BATHROOM
• OPEN-CONCEPT KITCHEN

Property features AI

Finance

• HOA & community: Homeowners association (Oakshire Estates Condominiums) with a monthly fee of $247

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: 2-story home; Entry level: 1361
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Lot of approximately 2.4 acres

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Heat pump with forced air heating; Central air conditioning
• Interior features: 6 total rooms; Main-level laundry
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.9% in Huron — 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 79/100 on livability (#137 in OH, #2,149 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities D-, commute F.
• Huron City Schools (town): math 60% / reading 76% proficiency, ranked #164 of 656 in OH (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 active listings in the ZIP; solid renter incomes; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).
• This rent runs 33% of the median local income ($77k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Erie County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.06% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.63×
• Total profit: $-20,722
• Equity at exit: $29,806

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,729
• Equity at exit: $17,284

Cash invested: $55,972 (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 44839

• Active inventory: 92
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,126 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$120 /mo · $1,436/yr
• Insurance: −$83
• HOA: −$247
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $182

Break-even live

Break-even rent $1,896

Max offer price $199,900

Occupancy floor 86%

Sensitivity live

Price	-10% $295	-5% $238	+0% $182	+5% $125	+10% $68
Rent	-10% $14	-5% $98	+0% $182	+5% $266	+10% $350
Rate	-1.0pp $282	-0.5pp $232	base $182	+0.5pp $130	+1.0pp $77

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $247 · $2,964/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-18
   status Pending
2. 2026-04-27
   price $199,900
3. 2026-03-17
   price $215,000
4. 2025-12-11
   listed $225,000 Active

ⓘ 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: $1,436 · $120/mo
• Projected year-2 tax: $2,277 · $190/mo
• Expected delta: +$841/yr (+$70/mo · 58.6%)

ⓘ 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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,516
• − Mortgage interest: −$11,198
• − Property taxes: −$1,436
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,041
• − Management: −$2,041
• − HOA: −$2,964
• − Depreciation: −$5,815
• Taxable loss: −$978
• Est. tax savings @ 24.0%: +$235
• After-tax cash flow: $2,414/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: Huron City Schools
• NCES district ID: 3904413
• Math proficiency: 60% ▼ -18.00%
• Reading proficiency: 76% ▼ -7.00%
• Median HH income: $56,995
• Composite: 58.32/100
• National rank: #1013
• State rank: #164 of 656 in OH

Livability — Huron

• Score: 79/100
• State rank: #137
• US rank: #2149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huron, OH
• County: Erie · 78,232 people
• City population: 12,702
• Metro: Sandusky, OH
• Population (ZIP): 12,702
• Household income: $77,377
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 4.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 73,204 people
• By 2030: 71,341 · -2.5%
• By 2040: 66,771 · -8.8%
• By 2050: 62,512 · -14.6%
• By 2075: 56,154 · -23.3%
• By 2100: 49,045 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Lithuanian 4% Romanian 3% Iranian 3%
• Foreign-born: 2% · Canada, South Korea, Jamaica
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% Korean 1%

Political lean MEDSL · Erie

• 2024 margin: R (+14.1) · D 42.5% · R 56.6%
• 2008→2024 swing: -28.0pp toward R · 2008: 13.9pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.6 2016: R+9.8 2012: D+11.3 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.15%
• Current HPI: 200.6889
• 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

-11.2% since first listed

4 events — show timeline

• 2026-05-18 Pending — MLSNOW
• 2026-04-27 Price Changed $199,900 MLSNOW
• 2026-03-17 Price Changed $215,000 MLSNOW
• 2025-12-11 Listed $225,000 MLSNOW

Property tax history

+0.7%/yr

Latest (2025): $1,436 · -22.4% YoY. Source: county tax records.