9151 Mentor Ave Unit C1 · Mentor, OH 44060

$19,500

2 bd · 1.0 ba · 400 sqft · SingleFamily · 64 Days on market

Built 1979 435 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Easy Living! Freshly painted, newer flooring, and walk in shower. Rembrandt Manufactured home. Convenient location close to bus line, and shopping. Lot rent $550, water $35, Sewer $35, Trash $12, Admin Fee $7 Non refundable $45 Application fee

Key facts

• Convenient location
• Close to shopping
• Walk in shower

Tags

• WALK IN SHOWER
• CONVENIENT LOCATION
• CLOSE TO BUS LINE
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $800 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (6.0% below list) — sets the bar for market timing.
• Cap rate 55.5% vs local median 3.7% in Mentor — 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 84/100 on livability (#53 in OH, #739 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, cost of living A+; Watch: amenities D, commute F.
• Mentor Exempted Village (suburban): math 58% / reading 70% proficiency, ranked #201 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.5%/yr); 264 active listings in the ZIP; solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($88k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $135 of loan paydown is wiped out by about $585 of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $6k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $20k implies a 95% gain — meaningful room to come down on a strong offer.

Recommended offer $18,330 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. 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?
7. 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.
8. 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.
9. 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: 6.07% ✓
• Cap rate: 55.52%
• Cash-on-cash: 175.80%
• DSCR: 8.82
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.32×
• Total profit: $50,905
• Equity at exit: $2,908

10-year hold

• IRR: —
• Equity multiple: 23.60×
• Total profit: $123,403
• Equity at exit: $1,686

Cash invested: $5,460 (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 44060

• Rents YoY: 5.5%
• Active inventory: 264
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,183 medium
• Mortgage (P&I): −$102
• Tax est. 1.5%: −$24 /mo · $292/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $800

Break-even live

Break-even rent $171

Max offer price $19,500

Occupancy floor 27%

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: $4,875
• Closing costs: $585
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $19,500 Active 64 DOM
2. 2026-06-17
   days on market $19,500 Active 63 DOM
3. 2026-06-16
   days on market $19,500 Active 62 DOM
4. 2026-06-15
   days on market $19,500 Active 61 DOM
5. 2026-06-13
   days on market $19,500 Active 59 DOM
6. 2026-06-09
   days on market $19,500 Active 55 DOM
7. 2026-06-08
   days on market $19,500 Active 54 DOM
8. 2026-06-07
   days on market $19,500 Active 53 DOM
9. 2026-06-05
   days on market $19,500 Active 50 DOM
10. 2026-06-03
    days on market $19,500 Active 49 DOM
11. 2026-06-02
    days on market $19,500 Active 48 DOM
12. 2026-06-01
    days on market $19,500 Active 47 DOM
13. 2026-05-31
    days on market $19,500 Active 46 DOM
14. 2026-04-14
    listed $25,000 Active 245-char remark

    Show marketing remark (245 chars)

    Easy Living! Freshly painted, newer flooring, and walk in shower. Rembrandt Manufactured home. Convenient location close to bus line, and shopping. Lot rent $550, water $35, Sewer $35, Trash $12, Admin Fee $7 Non refundable $45 Application fee

15. 2022-12-29
    status Pending 639-char remark

    Show marketing remark (639 chars)

    Owner wants it sold QUICKLY! Great opportunity to put your personal touches on this manufactured home to make it your own. 2 Bedroom 400 sq. ft. , 1979 Rembrandt manufactured home with updated Bathroom that has a WALK-IN SHOWER! Conveniently located on main bus line and close to grocery store, pet store and restaurants. The total cost to the park of $455.44 includes lot rent of $400, water $19.57, sewer $22.32 and trash $8.55! There is a $45 application fee for background and credit check. Yes, pets/dogs/indoor cats are permitted for pet fee of $25 per month per pet. No restricted breeds unless service animals/emotional support.

16. 2022-12-22
    soldstatus $10,000 Closed 639-char remark

    Show marketing remark (639 chars)

    Owner wants it sold QUICKLY! Great opportunity to put your personal touches on this manufactured home to make it your own. 2 Bedroom 400 sq. ft. , 1979 Rembrandt manufactured home with updated Bathroom that has a WALK-IN SHOWER! Conveniently located on main bus line and close to grocery store, pet store and restaurants. The total cost to the park of $455.44 includes lot rent of $400, water $19.57, sewer $22.32 and trash $8.55! There is a $45 application fee for background and credit check. Yes, pets/dogs/indoor cats are permitted for pet fee of $25 per month per pet. No restricted breeds unless service animals/emotional support.

17. 2022-12-03
    historical Contingent 639-char remark

    Show marketing remark (639 chars)

    Owner wants it sold QUICKLY! Great opportunity to put your personal touches on this manufactured home to make it your own. 2 Bedroom 400 sq. ft. , 1979 Rembrandt manufactured home with updated Bathroom that has a WALK-IN SHOWER! Conveniently located on main bus line and close to grocery store, pet store and restaurants. The total cost to the park of $455.44 includes lot rent of $400, water $19.57, sewer $22.32 and trash $8.55! There is a $45 application fee for background and credit check. Yes, pets/dogs/indoor cats are permitted for pet fee of $25 per month per pet. No restricted breeds unless service animals/emotional support.

18. 2022-10-26
    listed $12,500 Active 639-char remark

    Show marketing remark (639 chars)

    Owner wants it sold QUICKLY! Great opportunity to put your personal touches on this manufactured home to make it your own. 2 Bedroom 400 sq. ft. , 1979 Rembrandt manufactured home with updated Bathroom that has a WALK-IN SHOWER! Conveniently located on main bus line and close to grocery store, pet store and restaurants. The total cost to the park of $455.44 includes lot rent of $400, water $19.57, sewer $22.32 and trash $8.55! There is a $45 application fee for background and credit check. Yes, pets/dogs/indoor cats are permitted for pet fee of $25 per month per pet. No restricted breeds unless service animals/emotional support.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,197
• − Mortgage interest: −$1,092
• − Property taxes: −$292
• − Insurance: −$98
• − Repairs & maintenance: −$1,136
• − Management: −$1,136
• − Depreciation: −$567
• Taxable income: $9,876
• Est. tax owed @ 24.0%: −$2,370
• After-tax cash flow: $7,229/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: Mentor Exempted Village
• NCES district ID: 3904549
• Math proficiency: 58% ▼ -17.00%
• Reading proficiency: 70% ▼ -9.00%
• Median HH income: $64,267
• Composite: 55.71/100
• National rank: #1221
• State rank: #201 of 656 in OH

Livability — Mentor

• Score: 84/100
• State rank: #53
• US rank: #739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mentor, OH
• County: Lake County · 204,927 people
• City population: 60,779
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 60,779
• Household income: $87,599
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 883.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 7% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 93% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.36%
• Current HPI: 188.9887
• Rent YoY: ▲ 5.54%
• 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

+100.0% since first listed

5 events — show timeline

• 2026-04-14 Listed $25,000 MLSNOW
• 2022-12-29 Pending — MLSNOW
• 2022-12-22 Sold (MLS) $10,000 MLSNOW
• 2022-12-03 Contingent — MLSNOW
• 2022-10-26 Listed $12,500 MLSNOW