2069 E 29th St · Lorain, OH 44055

$170,000

4 bd · 2.0 ba · 1,664 sqft · MultiFamily public records · 14 Days on market

Built 1900 7,405 sqft lot Est $135k · 26% over

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Discover a classic 2-story duplex with updated appeal in Lorain. This side-by-side opportunity offers a total of 4 bedrooms and 2 bathrooms across approximately 1,664 sq ft on a manageable lot. The property is in the finishing stages of a thoughtful renovation. Each unit features comfortable living spaces, natural light, and functional layouts. Exterior updates and interior refreshes are in progress, aiming to provide a clean move in opportunity for investors looking to add to their portfolio or someone looking to live on one side and rent out the other.

Key facts

• Natural light
• Classic duplex
• Functional layouts

Tags

• CLASSIC DUPLEX
• UPDATED APPEAL
• THOUGHTFUL RENOVATION
• COMFORTABLE LIVING SPACES
• NATURAL LIGHT
• FUNCTIONAL LAYOUTS

Property features AI

Finance

• Financial info: Annual tax amount listed (2025)

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: 2-story home; Above-grade finished area approximately 1,664
• Construction: Vinyl siding; Asphalt and fiberglass roof; Block foundation; Built per public records
• Exterior features: Lot of approximately 0.17 acres; Public records lot information

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating
• Interior features: Unfinished basement; Total of 8 rooms; One building on the property

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 10.3% vs local median 5.9% in Lorain — 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 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities D, health & safety D.
• Lorain City (suburban): math 13% / reading 26% proficiency, ranked #633 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• At $2,066/mo this rent would consume 61% of the median local household income ($41k/yr) (locally 1140% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $31k; list at $170k implies a 448% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.22% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.14%
• DSCR: 1.63
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $134,784
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1923 E 34th St	0.49mi	4/2.0	1,680 (+1%)	21mo	$145,000	$86	58
2224 E 31st St	0.36mi	3/2.0 (-1)	1,569 (-6%)	18mo	$100,000	$64	54
1877-1879 E 34th St	0.57mi	4/2.0	1,780 (+7%)	11mo	$132,500	$74	52
2323/2325 Homewood Dr	0.71mi	4/2.0	1,792 (+8%)	4mo	$135,000	$75	50
2315/2317 Homewood Dr	0.70mi	4/2.0	1,792 (+8%)	6mo	$125,000	$70	49
2374 E 37th St	0.71mi	4/2.0	1,792 (+8%)	6mo	$145,000	$81	49
3884 Gary Ave	0.74mi	4/2.0	1,792 (+8%)	9mo	$145,000	$81	45
1829-1831 E 34th St	0.66mi	4/2.0	1,440 (-14%)	18mo	$125,000	$87	32

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: 4.4%
• Equity multiple: 1.17×
• Total profit: $8,141
• Equity at exit: $25,348

10-year hold

• IRR: 13.9%
• Equity multiple: 2.11×
• Total profit: $52,954
• Equity at exit: $14,698

Cash invested: $47,600 (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 44055

• Home prices YoY: -30.5%
• Active inventory: 81
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $2,066 high
• Mortgage (P&I): −$891
• Tax from tax record: −$109 /mo · $1,307/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $561

Break-even live

Break-even rent $1,356

Max offer price $170,000

Occupancy floor 68%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,066
Total (2 units)			$2,066

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3237 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	21d	1	0.39mi
3235 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	21d	1	0.40mi
1818 E 29th St Unit 1816 Lorain, OH	3.0	1.0	1098	$1,195	$1.09	43d	1	0.56mi
1813 E 30th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	43d	1	0.57mi
1730 E 30th St Unit 1730 Lorain, OH	3.0	1.0	1120	$1,250	$1.12	43d	1	0.78mi
1763 E 36th St Lorain, OH	5.0	1.5	2000	$1,895	$0.95	1d	1	0.82mi
3251 Camden Ave Lorain, OH	3.0	1.0	1090	$995	$0.91	43d	1	0.87mi
2484 E 38th St Lorain, OH	3.0	1.5	1101	$1,295	$1.18	43d	1	0.89mi
1639 E 31st St Unit 1637 Lorain, OH	3.0	1.0	1500	$1,200	$0.80	43d	1	1.01mi

Listing history 10 events

1. 2026-06-15
   status $170,000 Pending 14 DOM
2. 2026-06-15
   days on market $170,000 Active 14 DOM
3. 2026-06-13
   days on market $170,000 Active 12 DOM
4. 2026-06-13
   days on market $170,000 Active 11 DOM
5. 2026-06-09
   days on market $170,000 Active 8 DOM
6. 2026-06-08
   days on market $170,000 Active 7 DOM
7. 2026-06-07
   days on market $170,000 Active 6 DOM
8. 2026-06-03
   days on market $170,000 Active 2 DOM
9. 2026-06-02
   remarks 560-char remark
10. 2026-06-02
    listed $170,000 Active 1 DOM

ⓘ 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: $1,307 · $109/mo
• Projected year-2 tax: $1,980 · $165/mo
• Expected delta: +$672/yr (+$56/mo · 51.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,792
• − Mortgage interest: −$9,523
• − Property taxes: −$1,307
• − Insurance: −$850
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − Depreciation: −$4,945
• Taxable income: $4,200
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $5,722/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: Lorain City
• NCES district ID: 3904426
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $32,823
• Composite: 15.81/100
• National rank: #9266
• State rank: #633 of 656 in OH

Livability — Lorain

• Score: 67/100
• State rank: #595
• US rank: #10183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lorain, OH
• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 20,043
• Household income: $40,636
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1140.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 24% Black 14%
• Hispanic origin (detail): Mexican 7% Puerto Rican 27%
• Common ancestry: Romanian 5% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala
• Languages at home: 75% English-only · Spanish 23%

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: ▼ -79.26%
• Current HPI: 180.9309
• Rent YoY: —
• 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

+448.4% since first listed

2 events — show timeline

• 2026-06-01 Listed $170,000 MLSNOW
• 1999-07-26 Sold (Public Records) $31,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,307 · -4.9% YoY. Source: county tax records.