1693 Elfleda St · Lorain, OH 44055

$189,900

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 207 Days on market

Built 1950 0.33 ac lot $147/sqft · 32% above area Est $217k · 13% under

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Why this score? — see what drove the F 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 +13.1/15.0
• Cash flow +7.6/30.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled on a generous 0.33-acre lot, this unique property offers a blend of comfort and opportunity with its versatile living arrangements and modern amenities. The primary residence features a charming 3-bedroom, 1-bath layout in the front, ideal for family living, complemented by a separate 1-bedroom, 1-bath unit in the rear, perfect for extended family, guests, or potential rental income. Adding to its allure, the property boasts a substantial 864 sq ft two-car garage equipped with electricity, including a 220 outlet and plumbing for a kitchen and bath. This space presents a myriad of possibilities, from an additional living area to an income-generating rental unit. Recent upgrades in 2024 enhance the home's appeal, including a new roof, siding, HVAC system, and exterior doors. Septic newer (2022) The new porch at the back entrance provides a welcoming touch, and with three driveways, there's ample parking for residents and visitors alike. This property is a rare find, offering flexibility, modern convenience, and potential for future growth. Schedule your showing today!

Key facts

• New siding
• Separate unit
• 0.33-acre lot

Tags

• 0.33-ACRE LOT
• SEPARATE UNIT
• TWO-CAR GARAGE
• NEW ROOF
• NEW SIDING
• NEW HVAC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (21.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (39.7% below list).
• Recommended offer: $115k (39.7% below list) — sets the bar for 1% rule.

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.
• Clearview Local (suburban): math 21% / reading 44% proficiency, ranked #574 of 656 in OH (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 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 34% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,501 (39.7% 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. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.60% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.23%
• DSCR: 0.77
• GRM: 13.8

CMA / ARV

• ARV (median comp): $217,033
• List price: $189,900
• Delta: -12.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5023 Hecock Ave	0.29mi	3/1.5	1,344 (+4%)	14mo	$185,000	$138	66
42048 Wilbur St	0.27mi	2/1.0 (-1)	1,200 (-7%)	19mo	$52,500	$44	54
5405 Hecock Ave	0.14mi	4/2.0 (+1)	1,477 (+14%)	9mo	$190,000	$129	53
41663 Rosewood St	0.69mi	3/2.0	1,320 (+2%)	12mo	$200,000	$152	50
41651 Northwood St	0.66mi	2/2.0 (-1)	1,204 (-7%)	1mo	$165,000	$137	47
4341 Laurel Rd	0.47mi	3/1.0	1,140 (-12%)	19mo	$167,700	$147	42
41629 Northwood St	0.69mi	3/2.0	1,456 (+12%)	2mo	$128,000	$88	42
4248 Laurel Rd	0.50mi	3/1.5	1,168 (-10%)	21mo	$169,900	$145	41
41631 Rosewood St	0.73mi	2/1.0 (-1)	1,429 (+10%)	10mo	$169,900	$119	36

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: -25.3%
• Equity multiple: 0.14×
• Total profit: $-45,613
• Equity at exit: $28,315

10-year hold

• IRR: -21.6%
• Equity multiple: -0.11×
• Total profit: $-59,082
• Equity at exit: $16,419

Cash invested: $53,172 (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: 81
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $1,145 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $-232

Break-even live

Break-even rent $1,438

Max offer price $148,989

Occupancy floor —

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4850 Oneil Blvd Lorain, OH	2.0–3.0	1.0–1.5	981	$915	$0.93	1d	1	0.68mi
1850 E 33rd St Lorain, OH	2.0	1.0	1344	$995	$0.74	1d	1	1.41mi
1911 E 34th St Lorain, OH	2.0	1.0	900	$1,100	$1.22	1d	1	1.41mi

Listing history 4 events

1. 2026-03-05
   price $189,900 1090-char remark

   Show marketing remark (1090 chars)

   Nestled on a generous 0.33-acre lot, this unique property offers a blend of comfort and opportunity with its versatile living arrangements and modern amenities. The primary residence features a charming 3-bedroom, 1-bath layout in the front, ideal for family living, complemented by a separate 1-bedroom, 1-bath unit in the rear, perfect for extended family, guests, or potential rental income. Adding to its allure, the property boasts a substantial 864 sq ft two-car garage equipped with electricity, including a 220 outlet and plumbing for a kitchen and bath. This space presents a myriad of possibilities, from an additional living area to an income-generating rental unit. Recent upgrades in 2024 enhance the home's appeal, including a new roof, siding, HVAC system, and exterior doors. Septic newer (2022) The new porch at the back entrance provides a welcoming touch, and with three driveways, there's ample parking for residents and visitors alike. This property is a rare find, offering flexibility, modern convenience, and potential for future growth. Schedule your showing today!

2. 2025-10-28
   listed $199,900 Active 1090-char remark

   Show marketing remark (1090 chars)

   Nestled on a generous 0.33-acre lot, this unique property offers a blend of comfort and opportunity with its versatile living arrangements and modern amenities. The primary residence features a charming 3-bedroom, 1-bath layout in the front, ideal for family living, complemented by a separate 1-bedroom, 1-bath unit in the rear, perfect for extended family, guests, or potential rental income. Adding to its allure, the property boasts a substantial 864 sq ft two-car garage equipped with electricity, including a 220 outlet and plumbing for a kitchen and bath. This space presents a myriad of possibilities, from an additional living area to an income-generating rental unit. Recent upgrades in 2024 enhance the home's appeal, including a new roof, siding, HVAC system, and exterior doors. Septic newer (2022) The new porch at the back entrance provides a welcoming touch, and with three driveways, there's ample parking for residents and visitors alike. This property is a rare find, offering flexibility, modern convenience, and potential for future growth. Schedule your showing today!

3. 2003-01-07
   historical
4. 2002-10-07
   listed $155,000

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $1,848 · $154/mo
• Expected delta: +$1,114/yr (+$93/mo · 151.8%)

ⓘ 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: $13,740
• − Mortgage interest: −$10,637
• − Property taxes: −$734
• − Insurance: −$950
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$5,524
• Taxable loss: −$6,304
• Est. tax savings @ 24.0%: +$1,513
• After-tax cash flow: $-1,266/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: Clearview Local
• NCES district ID: 3904813
• Math proficiency: 21% ▼ -29.00%
• Reading proficiency: 44% ▼ -13.00%
• Median HH income: $31,733
• Composite: 26.44/100
• National rank: #7219
• State rank: #574 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

• 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

+22.5% since first listed

4 events — show timeline

• 2026-03-05 Price Changed $189,900 MLSNOW
• 2025-10-28 Listed $199,900 MLSNOW
• 2003-01-07 Listing Removed — MLSNOW
• 2002-10-07 Listed $155,000 MLSNOW

Property tax history

-2.2%/yr

Latest (2025): $734 · -38.8% YoY. Source: county tax records.