1361 Leavitt Rd · Lorain, OH 44052

$60,000

3 bd · 2.0 ba · 1,392 sqft · SingleFamily public records · 4 Days on market

Built 1953 5,227 sqft lot ↓ 14% since listing

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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
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Aluminum Sided Comfortable Cape - All Appliances Stay * Hardwood Floors * Upper Has 1/2 Bath, 2 Nice Closets, Nicely Finished * Added 1st Floor Multi Use Room * Garage Workshop * 1st Floor Newer Vinyl Windows & Storm Door * Bath In Bsmt * Minutes To Lakeview Beach, Tennis, Lake & Rte 2 * Priced Below Market Value

Key facts

• Rental investment
• Renovation project
• Detached garage

Tags

• DETACHED GARAGE
• CENTRAL AIR CONDITIONING
• LAKEVIEW PARK
• RENOVATION PROJECT
• RENTAL INVESTMENT

Property features AI

Finance

• Financial info: Annual tax amount available

Exterior

• Parking: Driveway; Detached garage; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Aluminum siding; Above-grade finished area approximately 1,392
• Construction: Built (year per public records); Asphalt/fiberglass roof
• Exterior features: 0.12-acre lot

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom; 2 half bathrooms; 1 main-level bathroom
• Heating & cooling: Hot water heating; Steam heating; Central air conditioning
• Interior features: Full, unfinished basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 17.7% vs local median 5.7% 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: Rents rising fast (+4.1%/yr); 135 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 36% of the median local income ($45k/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 $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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: property tax is 3.4% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.28% ✓
• Cap rate: 17.68%
• Cash-on-cash: 40.68%
• DSCR: 2.81
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $203,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1457 Madison Ave	0.13mi	3/2.0	1,429 (+3%)	11mo	$175,000	$122	80
2220 W 13th St	0.10mi	3/1.5	1,338 (-4%)	12mo	$187,500	$140	76
2017 W Erie Ave	0.35mi	3/1.0	1,364 (-2%)	5mo	$177,000	$130	72
1347 Hawthorne Ave	0.13mi	3/1.0	1,248 (-10%)	2mo	$193,000	$155	71
215 N Leavitt Rd	0.18mi	3/2.0	1,236 (-11%)	6mo	$195,000	$158	68
2214 W 14th St	0.07mi	3/1.0	1,264 (-9%)	12mo	$185,000	$146	67
2327 Stonepath St	0.11mi	4/3.0 (+1)	1,568 (+13%)	0mo	$255,000	$163	64
2015 Wallace Ln	0.44mi	3/2.0	1,200 (-14%)	1mo	$200,000	$167	56
1317 W 11th St	0.73mi	3/2.0	1,332 (-4%)	6mo	$83,700	$63	54
742 Allison Ave	0.73mi	3/1.5	1,434 (+3%)	8mo	$234,000	$163	52
1011 Allison Ave	0.68mi	3/1.0	1,531 (+10%)	1mo	$172,500	$113	47
1604 W 21st St	0.62mi	3/1.5	1,243 (-11%)	8mo	$176,000	$142	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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: 38.6%
• Equity multiple: 2.68×
• Total profit: $28,147
• Equity at exit: $8,946

10-year hold

• IRR: 45.6%
• Equity multiple: 5.64×
• Total profit: $77,902
• Equity at exit: $5,188

Cash invested: $16,800 (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 44052

• Home prices YoY: -28.1%
• Rents YoY: 4.1%
• Active inventory: 135
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,367 high
• Mortgage (P&I): −$315
• Tax from tax record: −$171 /mo · $2,053/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $570

Break-even live

Break-even rent $646

Max offer price $60,000

Occupancy floor 53%

Sensitivity live

Price	-10% $603	-5% $587	+0% $570	+5% $553	+10% $536
Rent	-10% $462	-5% $516	+0% $570	+5% $624	+10% $678
Rate	-1.0pp $600	-0.5pp $585	base $570	+0.5pp $554	+1.0pp $538

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1906 N Leavitt Rd Unit 1496120P Lorain, OH	3.0	2.0	1517	$5,246	$3.46	4d	1	0.19mi
2809 W Erie Ave Lorain, OH	1.0–2.0	1.0	800	$1,049	$1.31	2d	1	0.21mi
1712 W 12th St Lorain, OH	3.0	1.0	996	$1,295	$1.30	24d	1	0.45mi
1413 W 12th St Lorain, OH	4.0	1.5	1725	$1,700	$0.99	44d	1	0.61mi
1322 Brownell Ave Lorain, OH	4.0	1.0	1571	$1,570	$1.00	44d	1	0.76mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	24d	1	0.85mi
1239 W 5th St Unit 1 Lorain, OH	3.0	1.0	1200	$1,100	$0.92	24d	1	0.99mi
1223 W 5th St Lorain, OH	3.0	2.0	1152	$1,150	$1.00	13d	1	1.02mi
1055 W 12th St Lorain, OH	4.0	1.0	1206	$1,750	$1.45	24d	1	1.06mi
1220 W Erie Ave Lorain, OH	2.0	2.0	1458	$1,050	$0.72	3d	1	1.11mi
1037 Washington Ave Lorain, OH	4.0	2.0	1567	$1,600	$1.02	18d	1	1.23mi
1053 Washington Ave Unit 4 Lorain, OH	3.0	1.0	1000	$899	$0.90	44d	1	1.23mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	44d	1	1.24mi
1028 W 5th St Lorain, OH	3.0	2.0	1250	$1,650	$1.32	44d	1	1.26mi
939 W 22nd St Lorain, OH	3.0	1.0	950	$1,295	$1.36	44d	1	1.28mi
220 Hamilton Ave Lorain, OH	2.0	1.0	1848	$950	$0.51	22d	1	1.29mi
2307 Washington Ave Lorain, OH	1.0–3.0	1.0	880	$1,499	$1.70	2d	1	1.32mi
944 S Central Dr Lorain, OH	3.0	1.0	950	$1,250	$1.32	24d	1	1.43mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	5d	1	1.45mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	24d	1	1.49mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	4d	1	1.49mi
521 W 14th St Lorain, OH	3.0	1.0	968	$950	$0.98	44d	1	1.50mi

Listing history 3 events

1. 2026-06-21
   days on market $60,000 Active 4 DOM
2. 2026-06-18
   remarks 590-char remark
3. 2026-06-18
   listed $60,000 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: $2,053 · $171/mo
• Projected year-2 tax: $2,053 · $171/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 ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,409
• − Mortgage interest: −$3,361
• − Property taxes: −$2,053
• − Insurance: −$300
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$1,745
• Taxable income: $6,324
• Est. tax owed @ 24.0%: −$1,518
• After-tax cash flow: $5,317/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): 28,282
• Household income: $45,023
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1423.0

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 0.66)
• Race & ethnicity: White 49% Hispanic / Latino 24% Black 21% Two or more races 16%
• Hispanic origin (detail): Mexican 5% Puerto Rican 17%
• Common ancestry: Romanian 6% Lithuanian 1% Iranian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14%

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: ▼ -73.23%
• Current HPI: 186.9657
• Rent YoY: ▲ 4.09%
• 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

-14.0% since first listed

5 events — show timeline

• 2026-06-17 Listed $60,000 MLSNOW
• 2008-11-26 Sold (MLS) $65,000 MLSNOW
• 2008-11-24 Sold (Public Records) $65,000 Public Records
• 2008-11-24 Listing Removed — MLSNOW
• 2008-05-24 Listed $69,730 MLSNOW

Property tax history

+1.7%/yr

Latest (2025): $2,053 · -4.9% YoY. Source: county tax records.