196 S Point Dr · Avon Lake, OH 44012

$230,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 51 Days on market

Built 1950 5,227 sqft lot $266/sqft · 28% above area Est $229k · at est.

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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).

• Cash flow +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.2/15.0
• Schools +7.0/10.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 196 S Point Drive, a charming and refreshed Cape Cod offering the ultimate in comfortable living. Perfect for downsizers, this home features a highly desirable first-floor main bedroom, providing the ease of ranch-style living. Upstairs, you'll find fantastic flexible space, ideal for hosting out-of-town guests, setting up a home office, or simply utilizing as extra storage. This move-in ready gem boasts luxury vinyl plank flooring that flows seamlessly into a fully updated kitchen and a sparkling, modern bathroom. Go outside to relax on the back deck—perfect for enjoying your morning coffee—overlooking a private, easy-to-maintain fenced-in backyard. Located just moments from the serene shores of Lake Erie and scenic local parks, this turn-key home offers modern convenience with classic character. Schedule your showing today!

Key facts

• Flexible space
• Back deck
• Modern bathroom

Tags

• FIRST-FLOOR MAIN BEDROOM
• FLEXIBLE SPACE
• FULLY UPDATED KITCHEN
• MODERN BATHROOM
• BACK DECK
• PRIVATE FENCED-IN BACKYARD

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 $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $223k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.2% in Avon Lake — 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 (#52 in OH, #736 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F.
• Avon Lake City (suburban): math 78% / reading 80% proficiency, ranked #48 of 656 in OH (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 178 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 36y ago; this cycle's ask is 11400% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $155k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $223,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 1.12% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.50%
• DSCR: 1.42
• GRM: 7.4

CMA / ARV

• ARV (median comp): $228,679
• List price: $230,000
• Delta: 0.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
195 S Point Dr	0.02mi	2/1.0 (-1)	898 (+4%)	11mo	$168,000	$187	78
184 Lakewood Dr	0.22mi	3/1.0	904 (+5%)	12mo	$220,000	$243	72

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: -2.0%
• Equity multiple: 0.93×
• Total profit: $-4,798
• Equity at exit: $34,294

10-year hold

• IRR: 7.7%
• Equity multiple: 1.58×
• Total profit: $37,634
• 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 44012

• Active inventory: 178
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,576 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$223 /mo · $2,681/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $510

Break-even live

Break-even rent $1,931

Max offer price $230,000

Occupancy floor 75%

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32414 Lake Rd Unit 1496053P Avon Lake, OH	4.0	3.0	850	$16,357	$19.24	21d	1	1.13mi

Listing history 31 events

1. 2026-05-02
   status Pending 865-char remark

   Show marketing remark (865 chars)

   Welcome home to 196 S Point Drive, a charming and refreshed Cape Cod offering the ultimate in comfortable living. Perfect for downsizers, this home features a highly desirable first-floor main bedroom, providing the ease of ranch-style living. Upstairs, you'll find fantastic flexible space, ideal for hosting out-of-town guests, setting up a home office, or simply utilizing as extra storage. This move-in ready gem boasts luxury vinyl plank flooring that flows seamlessly into a fully updated kitchen and a sparkling, modern bathroom. Go outside to relax on the back deck—perfect for enjoying your morning coffee—overlooking a private, easy-to-maintain fenced-in backyard. Located just moments from the serene shores of Lake Erie and scenic local parks, this turn-key home offers modern convenience with classic character. Schedule your showing today!

2. 2026-04-16
   historical $1,800
3. 2026-04-13
   price $230,000 865-char remark

   Show marketing remark (865 chars)

   Welcome home to 196 S Point Drive, a charming and refreshed Cape Cod offering the ultimate in comfortable living. Perfect for downsizers, this home features a highly desirable first-floor main bedroom, providing the ease of ranch-style living. Upstairs, you'll find fantastic flexible space, ideal for hosting out-of-town guests, setting up a home office, or simply utilizing as extra storage. This move-in ready gem boasts luxury vinyl plank flooring that flows seamlessly into a fully updated kitchen and a sparkling, modern bathroom. Go outside to relax on the back deck—perfect for enjoying your morning coffee—overlooking a private, easy-to-maintain fenced-in backyard. Located just moments from the serene shores of Lake Erie and scenic local parks, this turn-key home offers modern convenience with classic character. Schedule your showing today!

4. 2026-03-27
   price $1,800
5. 2026-03-26
   listed $2,000
6. 2026-03-14
   historical $2,000
7. 2026-03-12
   listed $239,900 Active 865-char remark

   Show marketing remark (865 chars)

   Welcome home to 196 S Point Drive, a charming and refreshed Cape Cod offering the ultimate in comfortable living. Perfect for downsizers, this home features a highly desirable first-floor main bedroom, providing the ease of ranch-style living. Upstairs, you'll find fantastic flexible space, ideal for hosting out-of-town guests, setting up a home office, or simply utilizing as extra storage. This move-in ready gem boasts luxury vinyl plank flooring that flows seamlessly into a fully updated kitchen and a sparkling, modern bathroom. Go outside to relax on the back deck—perfect for enjoying your morning coffee—overlooking a private, easy-to-maintain fenced-in backyard. Located just moments from the serene shores of Lake Erie and scenic local parks, this turn-key home offers modern convenience with classic character. Schedule your showing today!

8. 2026-02-19
   listed $2,000
9. 2026-01-16
   historical
10. 2025-12-13
    listed $240,000 Active
11. 2022-12-21
    soldstatus $154,900 Closed
12. 2022-12-20
    soldstatus $155,000
13. 2022-11-22
    status Pending
14. 2022-11-14
    price $154,900
15. 2022-10-27
    listed $159,900 Active
16. 2004-04-30
    soldstatus $118,000
17. 2004-04-30
    soldstatus $118,000
18. 2004-04-10
    historical
19. 2003-10-09
    listed $122,500
20. 1998-11-27
    soldstatus $90,000
21. 1998-11-25
    soldstatus $90,000
22. 1998-10-25
    historical
23. 1998-10-25
    historical
24. 1998-09-25
    listed $98,500
25. 1998-03-25
    listed $98,500
26. 1991-08-06
    soldstatus $75,000
27. 1991-08-06
    soldstatus $75,000
28. 1991-03-19
    historical
29. 1991-03-12
    listed $77,900
30. 1990-09-19
    listed $84,900
31. 1989-02-21
    soldstatus $49,000

ⓘ 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: $2,681 · $223/mo
• Projected year-2 tax: $3,135 · $261/mo
• Expected delta: +$453/yr (+$38/mo · 16.9%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,916
• − Mortgage interest: −$12,884
• − Property taxes: −$2,681
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,473
• − Management: −$2,473
• − Depreciation: −$6,691
• Taxable income: $2,563
• Est. tax owed @ 24.0%: −$615
• After-tax cash flow: $5,503/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: Avon Lake City
• NCES district ID: 3904812
• Math proficiency: 78% ▼ -10.00%
• Reading proficiency: 80% ▼ -6.00%
• Median HH income: $79,608
• Composite: 69.66/100
• National rank: #296
• State rank: #48 of 656 in OH

Livability — Avon Lake

• Score: 84/100
• State rank: #52
• US rank: #736

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Avon Lake, OH
• County: Lorain County · 219,437 people
• City population: 25,752
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 25,752
• Household income: $115,567
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 290.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 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: ▼ -148.16%
• Current HPI: 207.1177
• 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

-96.3% since first listed

31 events — show timeline

• 2026-05-02 Pending — MLSNOW
• 2026-04-16 Rental Removed $1,800 TURBOTENANT
• 2026-04-13 Price Changed $230,000 MLSNOW
• 2026-03-27 Price Changed $1,800 TURBOTENANT
• 2026-03-26 Listed for Rent $2,000 TURBOTENANT
• 2026-03-14 Rental Removed $2,000 TURBOTENANT
• 2026-03-12 Listed $239,900 MLSNOW
• 2026-02-19 Listed for Rent $2,000 TURBOTENANT
• 2026-01-16 Listing Removed — MLSNOW
• 2025-12-13 Listed $240,000 MLSNOW
• 2022-12-21 Sold (MLS) $154,900 MLSNOW
• 2022-12-20 Sold (Public Records) $155,000 Public Records
• 2022-11-22 Pending — MLSNOW
• 2022-11-14 Price Changed $154,900 MLSNOW
• 2022-10-27 Listed $159,900 MLSNOW
• 2004-04-30 Sold (Public Records) $118,000 Public Records
• 2004-04-30 Sold (MLS) $118,000 MLSNOW
• 2004-04-10 Listing Removed — MLSNOW
• 2003-10-09 Listed $122,500 MLSNOW
• 1998-11-27 Sold (MLS) $90,000 MLSNOW
• 1998-11-25 Sold (Public Records) $90,000 Public Records
• 1998-10-25 Listing Removed — MLSNOW
• 1998-10-25 Listing Removed — MLSNOW
• 1998-09-25 Listed $98,500 MLSNOW
• 1998-03-25 Listed $98,500 MLSNOW
• 1991-08-06 Sold (Public Records) $75,000 Public Records
• 1991-08-06 Sold (MLS) $75,000 MLSNOW
• 1991-03-19 Listing Removed — MLSNOW
• 1991-03-12 Listed $77,900 MLSNOW
• 1990-09-19 Listed $84,900 MLSNOW
• 1989-02-21 Sold (Public Records) $49,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,681 · +9.4% YoY. Source: county tax records.