127 Charles Ct · Elyria, OH 44035

$120,000

3 bd · 3.0 ba · 1,532 sqft · Other public records · 198 Days on market

Built 1900 4,356 sqft lot

---

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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.4/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a HomePath property. Purchase this property for as little as 3% down! This property is eligible for HomePath Renovation Mortgage. Please see website for information. Large home with plenty of room! Add your finishing touches to this home nestled along the river. Close to schools, shopping and more. Full basement with plenty of storage. Lots of potential. Full bathroom upstairs with large half bath on first floor - could be made into full bath. Wood floors in bedrooms, large kitchen. Some repairs needed. Seller mandates only offers from owner occupants or public entities (and their designated partners) will be considered within the first 15 days of it being on the market. All other offers will be considered AFTER midnight on the 16th day. Buyer responsible for own due diligence, inquiry and verification of all property information, condition and parcel data, any violations.

Key facts

• Waterfront backyard
• Scenic black river
• 4,356 sq ft lot

Tags

• WATERFRONT BACKYARD
• SCENIC BLACK RIVER
• PRIME ELYRIA NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.0% in Elyria — 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 75/100 on livability (#243 in OH, #3,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, employment D, commute F.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.7%/yr); 360 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $120k implies a 757% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.14% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.64%
• DSCR: 1.34
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.74% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-437
• Equity at exit: $17,892

10-year hold

• IRR: 13.0%
• Equity multiple: 2.22×
• Total profit: $41,014
• Equity at exit: $10,375

Cash invested: $33,600 (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 44035

• Rents YoY: 6.7%
• Active inventory: 360
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,368 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$188 /mo · $2,251/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $214

Break-even live

Break-even rent $1,097

Max offer price $120,000

Occupancy floor 79%

Sensitivity live

Price	-10% $282	-5% $248	+0% $214	+5% $180	+10% $146
Rent	-10% $106	-5% $160	+0% $214	+5% $268	+10% $322
Rate	-1.0pp $274	-0.5pp $244	base $214	+0.5pp $183	+1.0pp $151

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Georgia Ave Elyria, OH	3.0	2.5	1850	$1,750	$0.95	3d	1	0.72mi
518 Lake Ave Unit 100 Rush Elyria, OH	3.0	1.0	1248	$1,099	$0.88	5d	1	1.28mi
100 Rush St Elyria, OH	3.0	1.0	1248	$1,099	$0.88	8d	1	1.28mi

Listing history 21 events

1. 2026-06-21
   days on market $120,000 Active 198 DOM
2. 2026-06-18
   days on market $120,000 Active 195 DOM
3. 2026-06-17
   days on market $120,000 Active 194 DOM
4. 2026-06-16
   days on market $120,000 Active 193 DOM
5. 2026-06-15
   days on market $120,000 Active 192 DOM
6. 2026-06-13
   days on market $120,000 Active 190 DOM
7. 2026-06-13
   days on market $120,000 Active 189 DOM
8. 2026-06-09
   days on market $120,000 Active 186 DOM
9. 2026-06-08
   days on market $120,000 Active 185 DOM
10. 2026-06-07
    days on market $120,000 Active 184 DOM
11. 2026-06-03
    days on market $120,000 Active 180 DOM
12. 2026-06-02
    days on market $120,000 Active 179 DOM
13. 2026-06-01
    days on market $120,000 Active 178 DOM
14. 2026-05-31
    days on market $120,000 Active 177 DOM
15. 2026-04-30
    price $120,000
16. 2026-02-25
    price $125,000
17. 2025-12-05
    listed $130,000 Active
18. 2012-10-26
    soldstatus $14,000 893-char remark

    Show marketing remark (893 chars)

    This is a HomePath property. Purchase this property for as little as 3% down! This property is eligible for HomePath Renovation Mortgage. Please see website for information. Large home with plenty of room! Add your finishing touches to this home nestled along the river. Close to schools, shopping and more. Full basement with plenty of storage. Lots of potential. Full bathroom upstairs with large half bath on first floor - could be made into full bath. Wood floors in bedrooms, large kitchen. Some repairs needed. Seller mandates only offers from owner occupants or public entities (and their designated partners) will be considered within the first 15 days of it being on the market. All other offers will be considered AFTER midnight on the 16th day. Buyer responsible for own due diligence, inquiry and verification of all property information, condition and parcel data, any violations.

19. 2012-09-13
    listed $14,900 893-char remark

    Show marketing remark (893 chars)

    This is a HomePath property. Purchase this property for as little as 3% down! This property is eligible for HomePath Renovation Mortgage. Please see website for information. Large home with plenty of room! Add your finishing touches to this home nestled along the river. Close to schools, shopping and more. Full basement with plenty of storage. Lots of potential. Full bathroom upstairs with large half bath on first floor - could be made into full bath. Wood floors in bedrooms, large kitchen. Some repairs needed. Seller mandates only offers from owner occupants or public entities (and their designated partners) will be considered within the first 15 days of it being on the market. All other offers will be considered AFTER midnight on the 16th day. Buyer responsible for own due diligence, inquiry and verification of all property information, condition and parcel data, any violations.

20. 2006-12-05
    soldstatus $67,000
21. 1989-04-28
    soldstatus $31,000

ⓘ 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: $2,251 · $188/mo
• Projected year-2 tax: $2,251 · $188/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥98°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: $16,417
• − Mortgage interest: −$6,722
• − Property taxes: −$2,251
• − Insurance: −$600
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$3,491
• Taxable income: $726
• Est. tax owed @ 24.0%: −$174
• After-tax cash flow: $2,392/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: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 of 656 in OH

Livability — Elyria

• Score: 75/100
• State rank: #243
• US rank: #3869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elyria, OH
• County: Lorain County · 219,437 people
• City population: 62,179
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 62,179
• Household income: $56,408
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2229.0

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 (70%)
• Race & ethnicity: White 70% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 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: ▼ -139.09%
• Current HPI: 199.7354
• Rent YoY: ▲ 6.74%
• 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

+287.1% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $120,000 MLSNOW
• 2026-02-25 Price Changed $125,000 MLSNOW
• 2025-12-05 Listed $130,000 MLSNOW
• 2012-10-26 Sold (MLS) $14,000 MLSNOW
• 2012-09-13 Listed $14,900 MLSNOW
• 2006-12-05 Sold (Public Records) $67,000 Public Records
• 1989-04-28 Sold (Public Records) $31,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $2,251 · +0.9% YoY. Source: county tax records.