3773 Globe Ave · Lorain, OH 44055

$50,000

3 bd · 1.5 ba · 1,379 sqft · SingleFamily public records · 5 Days on market

Built 1947 3,484 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Country living in the city! Tucked away in an incredibly secluded setting, this property offers peace and tranquility while still being conveniently located close to everything. Surrounded by mature trees on all sides this is a rare opportunity to enjoy space and privacy within city limits. The property includes approximately 1 acre of land spanning 5 lots total, providing endless possibilities for outdoor enjoyment, gardening, expansion, or additional recreation space. Inside, you'll find plenty of storage throughout the home. Major improvements include a roof installed in 2019, updated electrical in 2004, and a rebuilt basement completed in 2004 for added peace of mind.

Key facts

• Plenty of storage
• 5 lots total
• Secluded setting

Tags

• SECLUDED SETTING
• MATURE TREES
• 1 ACRE OF LAND
• 5 LOTS TOTAL
• PLENTY OF STORAGE
• ROOF INSTALLED IN 2019

Property features AI

Exterior

• Parking: Garage (2 spaces)
• Utilities: Public water; Public sewer
• Home design: Frame construction; Asphalt/fiberglass roof; Fixer condition
• Construction: Built according to public records; Frame construction

Interior

• Kitchen: Kitchen (first level)
• Bedrooms: 3 bedrooms on the main/first level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $596 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 20.6% vs local median 5.7% in Lorain — 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 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: 84 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 36% 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 $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $40k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.44% ✓
• Cap rate: 20.59%
• Cash-on-cash: 51.06%
• DSCR: 3.27
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $147,553
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3530 Pearl Ave	0.27mi	3/1.5	1,368 (-1%)	0mo	$160,000	$117	86
3956 Fulton Rd	0.23mi	3/2.0	1,494 (+8%)	10mo	$151,000	$101	65
1810 E 34th St	0.34mi	3/1.5	1,248 (-10%)	5mo	$135,000	$108	64
1727 E 33rd St	0.33mi	2/2.0 (-1)	1,420 (+3%)	14mo	$103,700	$73	61
1963 Homewood Dr	0.62mi	3/1.5	1,440 (+4%)	9mo	$142,500	$99	56
1717 E 33rd St	0.32mi	3/1.0	1,570 (+14%)	7mo	$105,000	$67	54
1774 E 31st St	0.47mi	4/1.0 (+1)	1,480 (+7%)	6mo	$86,000	$58	53
1960 E 33rd St	0.69mi	3/2.5	1,440 (+4%)	8mo	$209,500	$145	50
1859 E 33rd St	0.49mi	4/3.0 (+1)	1,272 (-8%)	7mo	$190,000	$149	47
4400 Dunton Rd	0.57mi	3/1.0	1,192 (-14%)	2mo	$220,000	$185	47
3242 Eagle Ave	0.54mi	3/2.0	1,256 (-9%)	14mo	$135,000	$107	46
3908 Clinton Ave	0.69mi	3/1.0	1,181 (-14%)	10mo	$125,000	$106	33

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: 48.9%
• Equity multiple: 3.13×
• Total profit: $29,873
• Equity at exit: $7,455

10-year hold

• IRR: 54.5%
• Equity multiple: 6.36×
• Total profit: $74,997
• Equity at exit: $4,323

Cash invested: $14,000 (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: 84
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$262
• Tax from tax record: −$83 /mo · $999/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $596

Break-even live

Break-even rent $464

Max offer price $50,000

Occupancy floor 46%

Sensitivity live

Price	-10% $624	-5% $610	+0% $596	+5% $582	+10% $567
Rent	-10% $500	-5% $548	+0% $596	+5% $644	+10% $692
Rate	-1.0pp $621	-0.5pp $608	base $596	+0.5pp $583	+1.0pp $570

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1850 E 33rd St Lorain, OH	2.0	1.0	1344	$995	$0.74	2d	1	0.49mi
1639 E 31st St Unit 1637 Lorain, OH	3.0	1.0	1500	$1,200	$0.80	44d	1	0.54mi
1730 E 30th St Unit 1730 Lorain, OH	3.0	1.0	1120	$1,250	$1.12	44d	1	0.57mi
1911 E 34th St Lorain, OH	2.0	1.0	900	$1,100	$1.22	2d	1	0.58mi
1813 E 30th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	44d	1	0.65mi
1637 E 29th St Lorain, OH	2.0	1.0	1200	$979	$0.82	15d	1	0.69mi
1818 E 29th St Unit 1816 Lorain, OH	3.0	1.0	1098	$1,195	$1.09	44d	1	0.70mi
4850 Oneil Blvd Lorain, OH	2.0–3.0	1.0–1.5	981	$915	$0.93	2d	1	0.96mi
612 E 33rd St Lorain, OH	3.0	1.0	960	$995	$1.04	44d	1	0.99mi
2909 Denver Ave Lorain, OH	3.0	1.0	1597	$1,400	$0.88	44d	1	1.14mi
3132 Elyria Ave Lorain, OH	3.0	1.5	1109	$1,250	$1.13	44d	1	1.18mi
3237 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	22d	1	1.18mi
3235 Grove Ave Unit 3235 Lorain, OH	3.0	1.0	1080	$950	$0.88	22d	1	1.19mi
3979 Gary Ave Unit 3979 2 Lorain, OH	2.0	1.0	896	$1,025	$1.14	44d	1	1.24mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	44d	1	1.38mi
117 W 30th St Lorain, OH	2.0	1.0	1344	$925	$0.69	44d	1	1.39mi
2484 E 38th St Lorain, OH	3.0	1.5	1101	$1,295	$1.18	44d	1	1.47mi

Listing history 4 events

1. 2026-06-01
   status $50,000 Pending 5 DOM
2. 2026-05-31
   days on market $50,000 Active 5 DOM
3. 2026-05-26
   listed $50,000 Active
4. 2026-04-09
   soldstatus $40,200

ⓘ 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: $999 · $83/mo
• Projected year-2 tax: $999 · $83/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 2/10 Low 7 d/yr ≥99°F today · 15 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: $14,613
• − Mortgage interest: −$2,801
• − Property taxes: −$999
• − Insurance: −$250
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$1,455
• Taxable income: $6,771
• Est. tax owed @ 24.0%: −$1,625
• After-tax cash flow: $5,524/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

• Census place: Lorain, OH
• 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

+24.4% since first listed

2 events — show timeline

• 2026-05-26 Listed $50,000 MLSNOW
• 2026-04-09 Sold (Public Records) $40,200 Public Records

Property tax history

+12.4%/yr

Latest (2025): $999 · -29.7% YoY. Source: county tax records.