688 Irving Park Blvd · Sheffield Lake, OH 44054

$179,900

4 bd · 1.5 ba · 1,588 sqft · SingleFamily public records · 12 Days on market

Built 1954 7,841 sqft lot Est $232k · 22% under

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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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.6/10.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and newly updated Cape Cod with improvements throughout. Brand new roof (2026) offers peace of mind, along with a tankless hot water system approximately 4 years old. The home has been freshly painted and features new vinyl flooring, new carpet, and updated lighting. The kitchen has been refreshed with new countertops, new upper cabinetry above the sink, a new stainless steel sink, and brand new 2026 stainless steel refrigerator and stove. Stainless steel sink rack located by the refrigerator will remain. Gas grill stays with the property. Heating is hot water baseboard. Washer and dryer included. Move-in ready with thoughtful updates — schedule your showing today.

Key facts

• Wooded lot
• New boiler installed
• Private back yard

Tags

• UPSTAIRS BATHROOMS UPDATED
• DOWNSTAIRS BATH SHOWER
• NEW SEWER LINES
• NEW BOILER INSTALLED
• PRIVATE BACK YARD
• WOODED LOT

Property features AI

Exterior

• Home design: House
• Construction: Living area is 1,588 sq ft
• Exterior features: Lot is 7,841 sq ft

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 8.0% vs local median 4.8% in Sheffield 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 68/100 on livability (#541 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Sheffield-Sheffield Lake City (suburban): math 48% / reading 59% proficiency, ranked #381 of 656 in OH (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 60 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 31% of the median local income ($73k/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 $5k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 35y ago; this cycle's ask has dropped $40k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1954 — 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. Schools are B-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?
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: 1.06% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.16%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $231,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
699 Irving Park Blvd	0.04mi	3/1.5 (-1)	1,508 (-5%)	3mo	$150,000	$99	83
764 Irving Park Blvd	0.14mi	4/1.5	1,732 (+9%)	1mo	$242,581	$140	78
4885 Ivanhoe Ave	0.08mi	3/2.5 (-1)	1,492 (-6%)	4mo	$213,000	$143	74
630 Treadway Blvd	0.25mi	3/1.5 (-1)	1,520 (-4%)	5mo	$244,900	$161	72
565 Irving Park Blvd	0.22mi	4/1.5	1,760 (+11%)	2mo	$252,750	$144	70
530 Maple Ave	0.38mi	3/2.0 (-1)	1,520 (-4%)	2mo	$310,000	$204	66
762 Maplewood Ave	0.54mi	3/2.0 (-1)	1,576 (-1%)	5mo	$230,000	$146	63
781 Lafayette Blvd	0.31mi	3/2.0 (-1)	1,732 (+9%)	4mo	$251,100	$145	60
586 Abbe Rd	0.59mi	3/2.0 (-1)	1,500 (-6%)	1mo	$250,000	$167	55
459 Abbe Rd	0.69mi	3/1.5 (-1)	1,544 (-3%)	7mo	$235,000	$152	52
579 Robinwood Ave	0.48mi	3/1.5 (-1)	1,814 (+14%)	1mo	$230,000	$127	48
580 Alameda Ave	0.69mi	3/2.5 (-1)	1,464 (-8%)	6mo	$260,000	$178	41

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-12,650
• Equity at exit: $26,824

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $10,309
• Equity at exit: $15,554

Cash invested: $50,372 (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 44054

• Active inventory: 60
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,898 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$222 /mo · $2,668/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $259

Break-even live

Break-even rent $1,571

Max offer price $179,900

Occupancy floor 81%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
870 Robinwood Ave Sheffield Lake, OH	3.0	2.0	1520	$1,799	$1.18	23d	1	0.59mi
727 Sheffield Rd Sheffield Lake, OH	3.0	2.0	1711	$2,095	$1.22	23d	1	1.13mi

Listing history 12 events

1. 2026-03-24
   soldstatus $213,000 Closed 688-char remark

   Show marketing remark (688 chars)

   Charming and newly updated Cape Cod with improvements throughout. Brand new roof (2026) offers peace of mind, along with a tankless hot water system approximately 4 years old. The home has been freshly painted and features new vinyl flooring, new carpet, and updated lighting. The kitchen has been refreshed with new countertops, new upper cabinetry above the sink, a new stainless steel sink, and brand new 2026 stainless steel refrigerator and stove. Stainless steel sink rack located by the refrigerator will remain. Gas grill stays with the property. Heating is hot water baseboard. Washer and dryer included. Move-in ready with thoughtful updates — schedule your showing today.

2. 2026-03-24
   soldstatus $852,000

   Show marketing remark (688 chars)

   Charming and newly updated Cape Cod with improvements throughout. Brand new roof (2026) offers peace of mind, along with a tankless hot water system approximately 4 years old. The home has been freshly painted and features new vinyl flooring, new carpet, and updated lighting. The kitchen has been refreshed with new countertops, new upper cabinetry above the sink, a new stainless steel sink, and brand new 2026 stainless steel refrigerator and stove. Stainless steel sink rack located by the refrigerator will remain. Gas grill stays with the property. Heating is hot water baseboard. Washer and dryer included. Move-in ready with thoughtful updates — schedule your showing today.

3. 2026-03-16
   status Pending 688-char remark

   Show marketing remark (688 chars)

   Charming and newly updated Cape Cod with improvements throughout. Brand new roof (2026) offers peace of mind, along with a tankless hot water system approximately 4 years old. The home has been freshly painted and features new vinyl flooring, new carpet, and updated lighting. The kitchen has been refreshed with new countertops, new upper cabinetry above the sink, a new stainless steel sink, and brand new 2026 stainless steel refrigerator and stove. Stainless steel sink rack located by the refrigerator will remain. Gas grill stays with the property. Heating is hot water baseboard. Washer and dryer included. Move-in ready with thoughtful updates — schedule your showing today.

4. 2026-02-27
   listed $220,000 Active 688-char remark

   Show marketing remark (688 chars)

   Charming and newly updated Cape Cod with improvements throughout. Brand new roof (2026) offers peace of mind, along with a tankless hot water system approximately 4 years old. The home has been freshly painted and features new vinyl flooring, new carpet, and updated lighting. The kitchen has been refreshed with new countertops, new upper cabinetry above the sink, a new stainless steel sink, and brand new 2026 stainless steel refrigerator and stove. Stainless steel sink rack located by the refrigerator will remain. Gas grill stays with the property. Heating is hot water baseboard. Washer and dryer included. Move-in ready with thoughtful updates — schedule your showing today.

5. 2025-12-04
   soldstatus $165,000
6. 2025-11-12
   historical Under Contract
7. 2025-10-31
   listed $179,900 Active
8. 1991-11-07
   soldstatus $63,000 175-char remark

   Show marketing remark (175 chars)

   Neat Clean Cape Cod On Beautiful Lot * Newly Redecorated Kitchen * 2 Bedroom W/ Half Bath Upstairs * Master Bedroom And Second Bath On First Floor * If No Answer Call Lister *

9. 1991-11-07
   soldstatus $63,000

   Show marketing remark (175 chars)

   Neat Clean Cape Cod On Beautiful Lot * Newly Redecorated Kitchen * 2 Bedroom W/ Half Bath Upstairs * Master Bedroom And Second Bath On First Floor * If No Answer Call Lister *

10. 1991-10-24
    historical 175-char remark

    Show marketing remark (175 chars)

    Neat Clean Cape Cod On Beautiful Lot * Newly Redecorated Kitchen * 2 Bedroom W/ Half Bath Upstairs * Master Bedroom And Second Bath On First Floor * If No Answer Call Lister *

11. 1991-07-25
    listed $69,900 175-char remark

    Show marketing remark (175 chars)

    Neat Clean Cape Cod On Beautiful Lot * Newly Redecorated Kitchen * 2 Bedroom W/ Half Bath Upstairs * Master Bedroom And Second Bath On First Floor * If No Answer Call Lister *

12. 1988-09-28
    soldstatus $44,500

ⓘ 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: $2,668 · $222/mo
• Projected year-2 tax: $2,737 · $228/mo
• Expected delta: +$69/yr (+$6/mo · 2.6%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,776
• − Mortgage interest: −$10,077
• − Property taxes: −$2,668
• − Insurance: −$900
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − Depreciation: −$5,233
• Taxable income: $253
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $3,043/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: Sheffield-Sheffield Lake City
• NCES district ID: 3904476
• Math proficiency: 48% ▼ -23.00%
• Reading proficiency: 59% ▼ -12.00%
• Median HH income: $55,551
• Composite: 46.18/100
• National rank: #2496
• State rank: #381 of 656 in OH

Livability — Sheffield Lake

• Score: 68/100
• State rank: #541
• US rank: #9106

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheffield Lake, OH
• County: Lorain · 305,041 people
• Metro: Cleveland, OH
• Population (ZIP): 12,733
• Household income: $73,151
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 5.7

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 6% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 8% Slovak 3% Italian 1%
• Foreign-born: 3% · Vietnam
• Languages at home: 93% English-only · Spanish 2% German/W. Germanic 1% Other Indo-European 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: ▼ -155.49%
• Current HPI: 211.5612
• 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

+1814.6% since first listed

12 events — show timeline

• 2026-03-24 Sold (Public Records) $852,000 Public Records
• 2026-03-24 Sold (MLS) $213,000 MLSNOW
• 2026-03-16 Pending — MLSNOW
• 2026-02-27 Listed $220,000 MLSNOW
• 2025-12-04 Sold (Public Records) $165,000 Public Records
• 2025-11-12 Contingent — ForSaleByOwner.com
• 2025-10-31 Listed $179,900 ForSaleByOwner.com
• 1991-11-07 Sold (Public Records) $63,000 Public Records
• 1991-11-07 Sold (MLS) $63,000 MLSNOW
• 1991-10-24 Listing Removed — MLSNOW
• 1991-07-25 Listed $69,900 MLSNOW
• 1988-09-28 Sold (Public Records) $44,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,668 · -2.5% YoY. Source: county tax records.