35319 Downing Ave · North Ridgeville, OH 44039

$299,900

3 bd · 2.0 ba · 2,108 sqft · SingleFamily public records · 7 Days on market

Built 1977 0.32 ac lot $142/sqft · 6% above area Est $364k · 18% 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).

• ARV discount +15.0/15.0
• Cash flow +9.5/30.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• 1% rule +2.8/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic Home On Park Like Yard. Newer Kitchen W/ Appliances, Main Bth, Landscaping W/ Grnd Lighting, Gar Dr Opener, Pool Covers & Accessories. Lg Fam Rm W/ Full Wall Gas Fireplace & Wood Ceiling. Play Rm Or Den Off Fam Rm. Out Bldg W/ Electric. Spacious Covered Deck. Play Area W/ Wood Play Station.

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1977

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-206 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (21.9% below list).
• Recommended offer: $234k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.3% in North Ridgeville — 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 74/100 on livability (#305 in OH, #4,924 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• North Ridgeville City (suburban): math 49% / reading 61% proficiency, ranked #339 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 30y 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 $170k; list at $300k implies a 77% gain — meaningful room to come down on a strong offer.

Recommended offer $234,128 (21.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.78% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.95%
• DSCR: 0.87
• GRM: 10.7

CMA / ARV

• ARV (median comp): $364,447
• List price: $299,900
• Delta: -17.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35177 Schoolhouse Ln	0.22mi	3/2.5	2,125 (+1%)	8mo	$421,000	$198	80
5249 Manchester Cir	0.16mi	3/2.0	2,264 (+7%)	7mo	$310,000	$137	75
35748 Mills Rd	0.31mi	3/2.5	2,203 (+4%)	11mo	$455,000	$207	67
5216 Dana Pl	0.23mi	3/2.5	1,880 (-11%)	7mo	$321,000	$171	63
35271 Downing Ave	0.09mi	4/2.5 (+1)	1,892 (-10%)	10mo	$273,000	$144	63
35217 Nikki Ave	0.15mi	3/2.0	1,860 (-12%)	12mo	$318,000	$171	63
5020 Avon Belden Rd	0.36mi	4/2.5 (+1)	2,008 (-5%)	9mo	$285,900	$142	61
35191 Schoolhouse Ln	0.20mi	4/3.0 (+1)	2,284 (+8%)	10mo	$388,000	$170	59
5327 Jaycox Rd	0.41mi	4/2.5 (+1)	2,034 (-4%)	12mo	$577,000	$284	58
35835 Baldauf Xing	0.56mi	4/2.5 (+1)	2,227 (+6%)	2mo	$600,414	$270	56
5528 Robert Ct	0.59mi	4/2.5 (+1)	2,218 (+5%)	7mo	$380,000	$171	51
36351 Mills Rd	0.72mi	3/2.0	1,834 (-13%)	8mo	$480,000	$262	38

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: -21.2%
• Equity multiple: 0.27×
• Total profit: $-61,699
• Equity at exit: $44,716

10-year hold

• IRR: -14.7%
• Equity multiple: 0.16×
• Total profit: $-70,529
• Equity at exit: $25,930

Cash invested: $83,972 (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 44039

• Active inventory: 206
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,341 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$358 /mo · $4,297/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-206

Break-even live

Break-even rent $2,602

Max offer price $263,488

Occupancy floor —

Sensitivity live

Price	-10% $-36	-5% $-121	+0% $-206	+5% $-291	+10% $-376
Rent	-10% $-391	-5% $-299	+0% $-206	+5% $-114	+10% $-21
Rate	-1.0pp $-55	-0.5pp $-130	base $-206	+0.5pp $-284	+1.0pp $-363

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4710 Jaycox Rd Avon, OH	3.0	2.0	1476	$2,299	$1.56	2d	1	0.56mi
5922 Albert Ave North Ridgeville, OH	3.0	1.5	1588	$2,125	$1.34	2d	1	0.82mi

Listing history 10 events

1. 2026-05-12
   status Pending 748-char remark
2. 2026-05-11
   status Active 748-char remark
3. 2026-05-04
   status Pending 748-char remark
4. 2026-05-02
   listed $299,900 Active 748-char remark
5. 2003-07-25
   soldstatus $169,500 313-char remark

   Show marketing remark (313 chars)

   Fantastic Home On Park Like Yard. Newer Kitchen W/ Appliances, Main Bth, Landscaping W/ Grnd Lighting, Gar Dr Opener, Pool Covers & Accessories. Lg Fam Rm W/ Full Wall Gas Fireplace & Wood Ceiling. Play Rm Or Den Off Fam Rm. Out Bldg W/ Electric. Spacious Covered Deck. Play Area W/ Wood Play Station.

6. 2003-07-25
   soldstatus $169,500

   Show marketing remark (313 chars)

   Fantastic Home On Park Like Yard. Newer Kitchen W/ Appliances, Main Bth, Landscaping W/ Grnd Lighting, Gar Dr Opener, Pool Covers & Accessories. Lg Fam Rm W/ Full Wall Gas Fireplace & Wood Ceiling. Play Rm Or Den Off Fam Rm. Out Bldg W/ Electric. Spacious Covered Deck. Play Area W/ Wood Play Station.

7. 2003-05-19
   listed $166,500 313-char remark

   Show marketing remark (313 chars)

   Fantastic Home On Park Like Yard. Newer Kitchen W/ Appliances, Main Bth, Landscaping W/ Grnd Lighting, Gar Dr Opener, Pool Covers & Accessories. Lg Fam Rm W/ Full Wall Gas Fireplace & Wood Ceiling. Play Rm Or Den Off Fam Rm. Out Bldg W/ Electric. Spacious Covered Deck. Play Area W/ Wood Play Station.

8. 1997-05-19
   historical
9. 1997-02-19
   soldstatus $127,000
10. 1996-11-19
    listed $129,900

ⓘ 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: $4,297 · $358/mo
• Projected year-2 tax: $4,488 · $374/mo
• Expected delta: +$191/yr (+$16/mo · 4.4%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,095
• − Mortgage interest: −$16,799
• − Property taxes: −$4,297
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,248
• − Management: −$2,248
• − Depreciation: −$8,724
• Taxable loss: −$7,720
• Est. tax savings @ 24.0%: +$1,853
• After-tax cash flow: $-621/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: North Ridgeville City
• NCES district ID: 3904453
• Math proficiency: 49% ▼ -21.00%
• Reading proficiency: 61% ▼ -11.00%
• Median HH income: $66,437
• Composite: 48.46/100
• National rank: #2130
• State rank: #339 of 656 in OH

Livability — North Ridgeville

• Score: 74/100
• State rank: #305
• US rank: #4924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Ridgeville, OH
• County: Lorain County · 219,437 people
• City population: 36,780
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 36,780
• Household income: $96,485
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 207.0

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: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

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: ▼ -160.14%
• Current HPI: 210.6074
• 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

+130.9% since first listed

12 events — show timeline

• 2026-05-25 Pending — MLSNOW
• 2026-05-21 Relisted — MLSNOW
• 2026-05-12 Pending — MLSNOW
• 2026-05-11 Relisted — MLSNOW
• 2026-05-04 Pending — MLSNOW
• 2026-05-02 Listed $299,900 MLSNOW
• 2003-07-25 Sold (Public Records) $169,500 Public Records
• 2003-07-25 Sold (MLS) $169,500 MLSNOW
• 2003-05-19 Listed $166,500 MLSNOW
• 1997-05-19 Listing Removed — MLSNOW
• 1997-02-19 Sold (Public Records) $127,000 Public Records
• 1996-11-19 Listed $129,900 MLSNOW

Property tax history

+5.1%/yr

Latest (2025): $4,297 · -4.3% YoY. Source: county tax records.