7407 Hawk Ave · Mentor, OH 44060

$230,000

3 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 8 Days on market

Built 1953 0.51 ac lot $181/sqft · 16% below area Est $273k · 16% under

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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).

• ARV discount +14.7/15.0
• Cash flow +12.7/30.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WELCOME to 7407 Hawk Avenue in beautiful Mentor, Ohio! This finely renovated 3-bedroom, 1.5-bath ranch situated on a spacious half-acre lot in the heart of Mentor has everything you want in a home. This move-in-ready home features an updated chef’s kitchen, refreshed bathrooms, bright living spaces, and a detached 2-car garage. Conveniently located near shopping, schools, parks, and major highways, offering the perfect blend of comfort, style, and accessibility. A must-see opportunity! PROPERTY IS BACK ON THE MARKET AFTER MINOR UPDATES WERE DONE!

Key facts

• Renovated ranch
• Refreshed bathrooms
• 0.51 acre lot

Tags

• RENOVATED RANCH
• UPDATED CHEFS KITCHEN
• REFRESHED BATHROOMS
• DETACHED 2-CAR GARAGE
• SPACIOUS HALF-ACRE LOT

Property features AI

Exterior

• Parking: Two-car garage; Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story home; Above-grade finished area approximately 1,272
• Construction: Built per public records; Asphalt/fiberglass roof
• Exterior features: Vinyl siding; Lot just over half an acre

Interior

• Bedrooms: Three main-level bedrooms
• Bathrooms: One full bathroom; One half bathroom; Two main-level bathrooms
• Heating & cooling: Forced air heating
• Interior features: Updated/remodeled condition; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-25 ($-296/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (18.8% below list).
• Recommended offer: $187k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 448 units permitted in Lake County in 2024 (0 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 $7k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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 $132k; list at $230k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $186,676 (18.8% 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 1953 — 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. 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: 0.81% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 10.3

CMA / ARV

• ARV (median comp): $273,484
• List price: $230,000
• Delta: -14.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7427 Hawk Ave	0.04mi	3/2.0	1,313 (+3%)	10mo	$289,900	$221	80
7391 Truman Ct	0.20mi	3/1.5	1,234 (-3%)	17mo	$270,000	$219	69
7509 Texas Ave	0.21mi	4/2.0 (+1)	1,244 (-2%)	15mo	$205,000	$165	65
7180 Reynolds Rd	0.38mi	3/1.0	1,428 (+12%)	8mo	$211,000	$148	55
7651 Ohio St	0.53mi	4/1.5 (+1)	1,204 (-5%)	8mo	$316,000	$262	52
7624 Newton Dr	0.50mi	3/2.0	1,294 (+2%)	21mo	$275,000	$213	52
7476 Jeremy Ave	0.70mi	3/2.0	1,334 (+5%)	6mo	$285,000	$214	50
7592 Kennedy Ct	0.41mi	3/2.0	1,208 (-5%)	23mo	$320,000	$265	49
7619 Buchanan Ct	0.54mi	3/2.5	1,228 (-4%)	24mo	$316,600	$258	44
7248 Welland Dr	0.62mi	3/2.0	1,204 (-5%)	20mo	$276,500	$230	41
7251 Olde Farm Ln	0.60mi	3/2.0	1,460 (+15%)	15mo	$283,000	$194	31

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 · 5.54% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.47×
• Total profit: $-33,977
• Equity at exit: $34,294

10-year hold

• IRR: -2.2%
• Equity multiple: 0.84×
• Total profit: $-10,574
• Equity at exit: $19,886

Cash invested: $64,400 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,867 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$197 /mo · $2,369/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-25

Break-even live

Break-even rent $1,898

Max offer price $225,642

Occupancy floor 96%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38360 Tamarac Blvd Willoughby, OH	1.0–2.0	1.0–2.0	950	$1,835	$1.93	1d	29	1.42mi
6247 Seneca Rd Mentor, OH	3.0	1.0	912	$1,750	$1.92	1d	1	1.46mi

Listing history 15 events

1. 2026-06-18
   days on market $230,000 Active 8 DOM
2. 2026-06-17
   days on market $230,000 Active 7 DOM
3. 2026-06-16
   days on market $230,000 Active 6 DOM
4. 2026-06-15
   days on market $230,000 Active 5 DOM
5. 2026-06-13
   remarks 552-char remark
6. 2026-06-13
   pricestatusdays on marketlisting id $230,000 Active 3 DOM
7. 2026-05-08
   price $235,000 504-char remark
8. 2026-05-03
   listed $210,000 Active 504-char remark
9. 2026-04-12
   historical $2,000
10. 2025-12-02
    historical
11. 2025-11-05
    listed $2,000
12. 2025-09-26
    price $259,900
13. 2025-09-11
    listed $279,000 Active
14. 2025-04-14
    soldstatus $132,500
15. 2008-02-07
    soldstatus $71,000

ⓘ 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: $2,369 · $197/mo
• Projected year-2 tax: $2,979 · $248/mo
• Expected delta: +$609/yr (+$51/mo · 25.7%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,401
• − Mortgage interest: −$12,884
• − Property taxes: −$2,369
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − Depreciation: −$6,691
• Taxable loss: −$4,277
• Est. tax savings @ 24.0%: +$1,026
• After-tax cash flow: $730/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

+223.9% since first listed

11 events — show timeline

• 2026-06-10 Listed $230,000 MLSNOW
• 2026-05-22 Listing Removed — MLSNOW
• 2026-05-08 Price Changed $235,000 MLSNOW
• 2026-05-03 Listed $210,000 MLSNOW
• 2026-04-12 Rental Removed $2,000 APPFOLIO
• 2025-12-02 Listing Removed — MLSNOW
• 2025-11-05 Listed for Rent $2,000 APPFOLIO
• 2025-09-26 Price Changed $259,900 MLSNOW
• 2025-09-11 Listed $279,000 MLSNOW
• 2025-04-14 Sold (Public Records) $132,500 Public Records
• 2008-02-07 Sold (Public Records) $71,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $2,369 · +2.4% YoY. Source: county tax records.