6800 Lake Rd W #21 · Geneva, OH 44041

$35,000

2 bd · 2.0 ba · 832 sqft · SingleFamily · 72 Days on market

Good condition 8,712 sqft lot $42/sqft · 46% below area Est $64k · 46% under ↓ 30% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a relaxing retreat near the water or an affordable place to enjoy all that Geneva-on-the-Lake has to offer. This charming 2 bed 2 bath home is just moments from the shoreline and local attractions, As well as Arcola creek Reservation located just a few minutes away. Making it ideal for seasonal living or a cozy year-round residence. This home offers a comfortable layout with large rooms and a inviting living space. Along with the added bonus of a rear Covered porch perfect for relaxing evenings, morning coffee, or entertaining guests. Enjoy Close proximity to Lake Erie, Easy access to restaurants, wineries & entertainment, as well as Low-maintenance living. Don't miss your opportunity! Schedule your showing today!

Key facts

• Rear covered porch
• 8,712 sq ft lot
• Parking

Tags

• REAR COVERED PORCH
• CLOSE PROXIMITY TO LAKE ERIE
• EASY ACCESS TO RESTAURANTS
• LOW-MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $35k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.0% vs local median 4.5% in Geneva — 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 (#291 in OH, #4,770 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment F.
• Geneva Area City (town): math 52% / reading 60% proficiency, ranked #362 of 656 in OH (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 88 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ashtabula County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Recommended offer $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.74% ✓
• Cap rate: 23.96%
• Cash-on-cash: 63.11%
• DSCR: 3.81
• GRM: 3.0

CMA / ARV

• ARV (median comp): $64,500
• List price: $35,000
• Delta: -45.74%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4645 East Dr	0.05mi	2/1.0	768 (-8%)	1mo	$64,500	$84	80

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: 62.1%
• Equity multiple: 3.77×
• Total profit: $27,171
• Equity at exit: $5,219

10-year hold

• IRR: 66.7%
• Equity multiple: 7.73×
• Total profit: $65,990
• Equity at exit: $3,026

Cash invested: $9,800 (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 44041

• Home prices YoY: -31.3%
• Active inventory: 88
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $959 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $515

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 41%

Sensitivity live

Price	-10% $540	-5% $528	+0% $515	+5% $503	+10% $491
Rent	-10% $440	-5% $478	+0% $515	+5% $553	+10% $591
Rate	-1.0pp $533	-0.5pp $524	base $515	+0.5pp $506	+1.0pp $497

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $35,000 Active 72 DOM
2. 2026-06-18
   days on market $35,000 Active 70 DOM
3. 2026-06-17
   days on market $35,000 Active 69 DOM
4. 2026-06-16
   days on market $35,000 Active 68 DOM
5. 2026-06-15
   days on market $35,000 Active 67 DOM
6. 2026-06-13
   days on market $35,000 Active 65 DOM
7. 2026-06-12
   days on market $35,000 Active 64 DOM
8. 2026-06-09
   days on market $35,000 Active 61 DOM
9. 2026-06-08
   days on market $35,000 Active 60 DOM
10. 2026-06-08
    days on market $35,000 Active 59 DOM
11. 2026-06-07
    days on market $35,000 Active 58 DOM
12. 2026-06-04
    days on market $35,000 Active 55 DOM
13. 2026-06-02
    days on market $35,000 Active 54 DOM
14. 2026-06-01
    days on market $35,000 Active 53 DOM
15. 2026-05-31
    days on market $35,000 Active 52 DOM
16. 2026-05-14
    price $35,000 741-char remark

    Show marketing remark (741 chars)

    Looking for a relaxing retreat near the water or an affordable place to enjoy all that Geneva-on-the-Lake has to offer. This charming 2 bed 2 bath home is just moments from the shoreline and local attractions, As well as Arcola creek Reservation located just a few minutes away. Making it ideal for seasonal living or a cozy year-round residence. This home offers a comfortable layout with large rooms and a inviting living space. Along with the added bonus of a rear Covered porch perfect for relaxing evenings, morning coffee, or entertaining guests. Enjoy Close proximity to Lake Erie, Easy access to restaurants, wineries & entertainment, as well as Low-maintenance living. Don't miss your opportunity! Schedule your showing today!

17. 2026-04-20
    price $39,900 741-char remark

    Show marketing remark (741 chars)

    Looking for a relaxing retreat near the water or an affordable place to enjoy all that Geneva-on-the-Lake has to offer. This charming 2 bed 2 bath home is just moments from the shoreline and local attractions, As well as Arcola creek Reservation located just a few minutes away. Making it ideal for seasonal living or a cozy year-round residence. This home offers a comfortable layout with large rooms and a inviting living space. Along with the added bonus of a rear Covered porch perfect for relaxing evenings, morning coffee, or entertaining guests. Enjoy Close proximity to Lake Erie, Easy access to restaurants, wineries & entertainment, as well as Low-maintenance living. Don't miss your opportunity! Schedule your showing today!

18. 2026-04-08
    listed $49,900 Active 741-char remark

    Show marketing remark (741 chars)

    Looking for a relaxing retreat near the water or an affordable place to enjoy all that Geneva-on-the-Lake has to offer. This charming 2 bed 2 bath home is just moments from the shoreline and local attractions, As well as Arcola creek Reservation located just a few minutes away. Making it ideal for seasonal living or a cozy year-round residence. This home offers a comfortable layout with large rooms and a inviting living space. Along with the added bonus of a rear Covered porch perfect for relaxing evenings, morning coffee, or entertaining guests. Enjoy Close proximity to Lake Erie, Easy access to restaurants, wineries & entertainment, as well as Low-maintenance living. Don't miss your opportunity! Schedule your showing today!

ⓘ 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 2/10 Low 7 d/yr ≥94°F today · 17 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: $11,503
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$1,018
• Taxable income: $5,984
• Est. tax owed @ 24.0%: −$1,436
• After-tax cash flow: $4,749/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This home is in good condition with recent updates, making it a good investment for both resale and rental. Minor touch-ups and landscaping improvements can further enhance its value.

Value-add opportunities

• Resale Paint touch-ups — Fresh paint enhances curb appeal and home's overall appearance
• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint touch-ups — Fresh paint enhances curb appeal and home's overall appearance ↑
• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Geneva Area City
• NCES district ID: 3904405
• Math proficiency: 52% ▼ -16.00%
• Reading proficiency: 60% ▼ -2.00%
• Median HH income: $43,525
• Composite: 47.12/100
• National rank: #2328
• State rank: #362 of 656 in OH

Livability — Geneva

• Score: 74/100
• State rank: #291
• US rank: #4770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ashtabula · 97,617 people
• Metro: Cleveland, OH
• Population (ZIP): 13,992
• Household income: $58,438
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 12.5

Population outlook (Ashtabula County) Hauer SSP2

• Today (2025): 92,950 people
• By 2030: 89,146 · -4.1%
• By 2040: 80,715 · -13.2%
• By 2050: 72,270 · -22.2%
• By 2075: 55,780 · -40.0%
• By 2100: 40,928 · -56.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 6% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Ashtabula

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.8%
• 2008→2024 swing: -41.9pp toward R · 2008: 13.5pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+23.5 2016: R+19.0 2012: D+12.1 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.04%
• Current HPI: 230.8747
• Rent YoY: —
• Metro: —
• 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

-29.9% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $35,000 MLSNOW
• 2026-04-20 Price Changed $39,900 MLSNOW
• 2026-04-08 Listed $49,900 MLSNOW