4510 Riverside Dr · Lorain, OH 44055

$134,900

3 bd · 1.0 ba · 996 sqft · SingleFamily public records · 30 Days on market

Built 1956 5,662 sqft lot Est $145k · 7% under

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Why this score? — see what drove the D+ 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 +16.7/30.0
• ARV discount +10.8/15.0
• DSCR +5.2/10.0
• 1% rule +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bank Owned * 3 Bedroom Ranch With More Than 950 sq ft * Great Potential * Buyer Will Assume Any/All Expenses For Inspections *

Key facts

• Solid wood cabinetry
• Covered patio
• Updated countertops

Tags

• UPDATED COUNTERTOPS
• SOLID WOOD CABINETRY
• STAINLESS DOUBLE-BASIN SINK
• FENCED BACKYARD
• DETACHED GARAGE
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (10.2% below list).
• Recommended offer: $121k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.7% in Lorain — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: amenities D, health & safety D, crime F.
• 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.
• Zoned schools: New Beginnings (reading 24%, 120 students, 0% FRL) — zoned schools average 0% FRL vs 80% district-wide (80 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 84 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 36% of the median local income ($41k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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.
• Current owner paid $21k; list at $135k implies a 542% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,133 (10.2% below list)

Questions for the listing agent

1. Built in 1956 — 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. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.90% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.70%
• DSCR: 1.12
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $145,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4429 Norfolk Ave	0.04mi	3/1.0	1,104 (+11%)	3mo	$171,000	$155	78
4217 Camden Ave	0.24mi	3/1.0	1,068 (+7%)	2mo	$100,000	$94	75
4651 Camden Ave	0.18mi	3/1.0	912 (-8%)	6mo	$133,000	$146	72
4223 Palm Ave	0.42mi	3/1.0	960 (-4%)	3mo	$108,000	$113	72
4314 Talbot Ln	0.17mi	3/1.0	864 (-13%)	1mo	$169,900	$197	69
3896 Meadow Ln	0.67mi	3/1.0	992 (-0%)	4mo	$150,000	$151	64
4608 Gary Ave	0.52mi	3/1.0	930 (-7%)	2mo	$110,000	$118	63
4215 Meadow Ln	0.47mi	3/2.0	960 (-4%)	8mo	$166,000	$173	61
5115 Bond Ave	0.55mi	3/1.0	1,063 (+7%)	4mo	$64,500	$61	60
4216 Camden Ave	0.25mi	3/1.0	1,136 (+14%)	7mo	$135,000	$119	59
2456 E 37th St	0.66mi	3/1.0	1,113 (+12%)	1mo	$130,000	$117	49
3641 Tacoma Ave	0.61mi	3/1.0	864 (-13%)	3mo	$139,000	$161	47

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: -12.0%
• Equity multiple: 0.56×
• Total profit: $-16,461
• Equity at exit: $20,114

10-year hold

• IRR: -2.9%
• Equity multiple: 0.80×
• Total profit: $-7,434
• Equity at exit: $11,664

Cash invested: $37,772 (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: 84
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,211 high
• Mortgage (P&I): −$707
• Tax from tax record: −$108 /mo · $1,299/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $85

Break-even live

Break-even rent $1,104

Max offer price $134,900

Occupancy floor 88%

Sensitivity live

Price	-10% $161	-5% $123	+0% $85	+5% $47	+10% $9
Rent	-10% $-11	-5% $37	+0% $85	+5% $133	+10% $181
Rate	-1.0pp $153	-0.5pp $119	base $85	+0.5pp $50	+1.0pp $15

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2484 E 38th St Lorain, OH	3.0	1.5	1101	$1,295	$1.18	46d	1	0.56mi
3979 Gary Ave Unit 3979 2 Lorain, OH	2.0	1.0	896	$1,025	$1.14	46d	1	0.65mi
3251 Camden Ave Lorain, OH	3.0	1.0	1090	$995	$0.91	46d	1	0.83mi
3235 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	23d	1	1.05mi
3237 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	23d	1	1.05mi
2056 McKinley Ave Lorain, OH	2.0	1.0	768	$1,195	$1.56	0d	1	1.09mi
1885 E 42nd St Lorain, OH	2.0	1.0	680	$895	$1.32	0d	1	1.37mi
1911 E 34th St Lorain, OH	2.0	1.0	900	$1,100	$1.22	0d	1	1.44mi

Listing history 10 events

1. 2026-05-31
   status $134,900 Pending 30 DOM
2. 2026-03-14
   status Pending
3. 2026-02-13
   listed $134,900 Active
4. 2009-06-30
   soldstatus $21,000 129-char remark

   Show marketing remark (129 chars)

   Bank Owned * 3 Bedroom Ranch With More Than 950 sq ft * Great Potential * Buyer Will Assume Any/All Expenses For Inspections *

5. 2009-06-09
   historical 129-char remark

   Show marketing remark (129 chars)

   Bank Owned * 3 Bedroom Ranch With More Than 950 sq ft * Great Potential * Buyer Will Assume Any/All Expenses For Inspections *

6. 2009-03-31
   historical
7. 2009-03-09
   listed $25,000 129-char remark

   Show marketing remark (129 chars)

   Bank Owned * 3 Bedroom Ranch With More Than 950 sq ft * Great Potential * Buyer Will Assume Any/All Expenses For Inspections *

8. 2009-01-06
   listed $29,900
9. 1995-05-10
   soldstatus $43,500
10. 1988-06-28
    soldstatus $22,000

ⓘ 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: $1,299 · $108/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$403/yr (+$34/mo · 31.0%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,536
• − Mortgage interest: −$7,556
• − Property taxes: −$1,299
• − Insurance: −$674
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$3,924
• Taxable loss: −$1,244
• Est. tax savings @ 24.0%: +$299
• After-tax cash flow: $1,319/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

+513.2% since first listed

9 events — show timeline

• 2026-03-14 Pending — MLSNOW
• 2026-02-13 Listed $134,900 MLSNOW
• 2009-06-30 Sold (MLS) $21,000 MLSNOW
• 2009-06-09 Listing Removed — MLSNOW
• 2009-03-31 Listing Removed — MLSNOW
• 2009-03-09 Listed $25,000 MLSNOW
• 2009-01-06 Listed $29,900 MLSNOW
• 1995-05-10 Sold (Public Records) $43,500 Public Records
• 1988-06-28 Sold (Public Records) $22,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,299 · -4.9% YoY. Source: county tax records.