1470 E 332nd · Eastlake, OH 44095

$135,000

3 bd · 1.0 ba · 1,046 sqft · SingleFamily public records · 34 Days on market

Built 1930 0.28 ac lot $129/sqft · 23% below area Est $176k · 23% under

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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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +7.6/10.0
• Schools +4.3/10.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Check out this affordable 3-bedroom, 1-bath ranch in Eastlake, Ohio. The interior has been freshly painted, giving it a clean look. Replacement windows help with energy efficiency, and the vinyl siding makes the exterior easy to maintain. The kitchen and bathroom have both been updated. This move-in ready home offers a practical option for comfortable living.

Key facts

• 0.28 acre lot
• Parking
• Built 1930

Property features AI

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer; Has heating (forced air)
• Home design: Single-story home; Vinyl siding exterior; Asphalt roof
• Construction: Vinyl siding construction; Asphalt roof; Year built according to public records
• Exterior features: Driveway; Lot approximately 0.2755 acres

Interior

• Kitchen: Eat-in kitchen (on the first floor)
• Bedrooms: Three main-level bedrooms (all on the first floor)
• Bathrooms: One full main-level bathroom
• Heating & cooling: Forced air heating
• Interior features: Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 4.8% in Eastlake — 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 (#550 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment D+, amenities F, commute F.
• Willoughby-Eastlake City (suburban): math 42% / reading 58% proficiency, ranked #434 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 129 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 33y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1930 — 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 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?
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: 1.26% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.73%
• DSCR: 1.43
• GRM: 6.6

CMA / ARV

• ARV (median comp): $176,262
• List price: $135,000
• Delta: -23.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1470 E 332nd	0.00mi	3/1.0	1,046 (0%)	1mo	$135,000	$129	100
32222 Densmore Rd	0.17mi	3/2.0	1,064 (+2%)	0mo	$225,000	$211	85
483 E 330th St	0.36mi	3/1.0	1,047 (+0%)	0mo	$179,000	$171	82
32118 Pendley Rd	0.23mi	3/1.0	983 (-6%)	3mo	$191,000	$194	77
484 E 328th St	0.31mi	3/1.0	1,003 (-4%)	4mo	$170,000	$169	76
1262 E 346th St	0.66mi	3/1.5	1,056 (+1%)	3mo	$171,900	$163	63
287 E 330th St	0.75mi	3/1.0	1,030 (-2%)	1mo	$205,000	$199	61
1270 E 348th St	0.70mi	3/1.0	1,020 (-2%)	4mo	$160,000	$157	60
1301 E 346th St	0.65mi	3/1.5	1,080 (+3%)	3mo	$75,000	$69	59
280 E 328th St	0.71mi	3/1.0	1,100 (+5%)	2mo	$215,000	$195	57
845 Charles St	0.73mi	3/1.0	1,102 (+5%)	3mo	$253,400	$230	55
325 E 327th St	0.62mi	4/2.0 (+1)	1,163 (+11%)	3mo	$225,000	$193	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 · 4.81% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $882
• Equity at exit: $20,129

10-year hold

• IRR: 12.2%
• Equity multiple: 2.05×
• Total profit: $39,674
• Equity at exit: $11,672

Cash invested: $37,800 (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 44095

• Rents YoY: 4.8%
• Active inventory: 129
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,699 high
• Mortgage (P&I): −$708
• Tax from tax record: −$271 /mo · $3,255/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $306

Break-even live

Break-even rent $1,311

Max offer price $135,000

Occupancy floor 77%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 E 326th St Willowick, OH	2.0	2.0	1053	$1,447	$1.37	2d	1	0.53mi
679 Dickerson Rd Willowick, OH	4.0	2.0	806	$1,649	$2.05	1d	1	0.56mi
31621 N Marginal Dr Unit B Willowick, OH	3.0	1.5	1200	$1,550	$1.29	2d	1	1.01mi
1323 E 360th St Eastlake, OH	3.0	1.0	1036	$1,599	$1.54	16d	1	1.15mi
30620 Euclid Ave Wickliffe, OH	2.0	1.0	1500	$1,500	$1.00	2d	1	1.40mi
459 Clarmont Rd Willowick, OH	4.0	2.0	1488	$1,875	$1.26	43d	1	1.41mi
29210 Green Dr Willowick, OH	3.0	1.0	1002	$1,700	$1.70	1d	1	1.49mi

Listing history 45 events

1. 2026-06-03
   status $135,000 Pending 34 DOM
2. 2026-06-02
   days on market $135,000 Contingent 34 DOM
3. 2026-06-01
   days on market $135,000 Contingent 33 DOM
4. 2026-05-31
   days on market $135,000 Contingent 32 DOM
5. 2026-05-06
   historical Contingent 361-char remark
6. 2026-04-28
   listed $135,000 Active 361-char remark
7. 2025-05-22
   historical
8. 2025-05-21
   historical $1,375
9. 2025-04-30
   price $1,375
10. 2025-04-11
    price $129,900
11. 2025-02-21
    status Active
12. 2025-02-18
    historical Contingent
13. 2025-02-11
    listed $1,500
14. 2025-02-09
    listed $135,000 Active
15. 2024-12-31
    historical $1,550
16. 2024-12-30
    historical
17. 2024-11-07
    price $1,550
18. 2024-10-24
    listed $2,000
19. 2024-09-09
    status Active
20. 2024-08-31
    historical Contingent
21. 2024-08-22
    price $137,500
22. 2024-08-22
    listed $137,900 Active
23. 2024-03-31
    historical
24. 2024-01-10
    listed $137,500 Active
25. 2023-08-06
    historical
26. 2023-07-23
    listed
27. 2023-06-12
    status Pending
28. 2023-06-12
    historical
29. 2023-06-05
    price $119,000
30. 2023-05-18
    listed $120,000 Active
31. 2022-01-10
    soldstatus $75,000
32. 2022-01-07
    soldstatus $75,000 Closed
33. 2022-01-01
    status Pending
34. 2021-12-03
    historical Contingent
35. 2021-11-22
    price $92,000
36. 2021-11-16
    status Active
37. 2021-11-11
    status Pending
38. 2021-11-07
    price $94,900
39. 2021-10-24
    listed $99,900 Active
40. 1994-04-28
    soldstatus $61,900
41. 1994-04-28
    soldstatus $61,900
42. 1994-02-04
    soldstatus $34,400
43. 1994-02-02
    listed $61,900
44. 1993-10-12
    soldstatus $34,400
45. 1993-09-02
    listed $34,400

ⓘ 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: $3,255 · $271/mo
• Projected year-2 tax: $3,255 · $271/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 5/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,384
• − Mortgage interest: −$7,562
• − Property taxes: −$3,255
• − Insurance: −$675
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − Depreciation: −$3,927
• Taxable income: $1,703
• Est. tax owed @ 24.0%: −$409
• After-tax cash flow: $3,269/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: Willoughby-Eastlake City
• NCES district ID: 3904510
• Math proficiency: 42% ▼ -21.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $52,500
• Composite: 42.96/100
• National rank: #3110
• State rank: #434 of 656 in OH

Livability — Eastlake

• Score: 68/100
• State rank: #550
• US rank: #9388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastlake, OH
• County: Lake County · 204,927 people
• City population: 32,363
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 32,363
• Household income: $71,543
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 590.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Russian/Polish/Slavic 3% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.78%
• Current HPI: 171.8121
• Rent YoY: ▲ 4.81%
• 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

+292.8% since first listed

44 events — show timeline

• 2026-06-03 Sold (Public Records) $135,125 Public Records
• 2026-06-03 Sold (MLS) $135,000 MLSNOW
• 2026-06-03 Pending — MLSNOW
• 2026-05-06 Contingent — MLSNOW
• 2026-04-28 Listed $135,000 MLSNOW
• 2025-05-22 Listing Removed — MLSNOW
• 2025-05-21 Rental Removed $1,375 YESMLS
• 2025-04-30 Price Changed $1,375 YESMLS
• 2025-04-11 Price Changed $129,900 MLSNOW
• 2025-02-21 Relisted — MLSNOW
• 2025-02-18 Contingent — MLSNOW
• 2025-02-11 Listed for Rent $1,500 YESMLS
• 2025-02-09 Listed $135,000 MLSNOW
• 2024-12-31 Rental Removed $1,550 YESMLS
• 2024-12-30 Listing Removed — MLSNOW
• 2024-11-07 Price Changed $1,550 YESMLS
• 2024-10-24 Listed for Rent $2,000 YESMLS
• 2024-09-09 Relisted — MLSNOW
• 2024-08-31 Contingent — MLSNOW
• 2024-08-22 Price Changed $137,500 MLSNOW
• 2024-08-22 Listed $137,900 MLSNOW
• 2024-03-31 Listing Removed — MLSNOW
• 2024-01-10 Listed $137,500 MLSNOW
• 2023-08-06 Rental Removed — APPFOLIO
• 2023-07-23 Listed for Rent — APPFOLIO
• 2023-06-12 Pending — MLSNOW
• 2023-06-12 Listing Removed — MLSNOW
• 2023-06-05 Price Changed $119,000 MLSNOW
• 2023-05-18 Listed $120,000 MLSNOW
• 2022-01-10 Sold (Public Records) $75,000 Public Records
• 2022-01-07 Sold (MLS) $75,000 MLSNOW
• 2022-01-01 Pending — MLSNOW
• 2021-12-03 Contingent — MLSNOW
• 2021-11-22 Price Changed $92,000 MLSNOW
• 2021-11-16 Relisted — MLSNOW
• 2021-11-11 Pending — MLSNOW
• 2021-11-07 Price Changed $94,900 MLSNOW
• 2021-10-24 Listed $99,900 MLSNOW
• 1994-04-28 Sold (Public Records) $61,900 Public Records
• 1994-04-28 Sold (MLS) $61,900 MLSNOW
• 1994-02-04 Sold (MLS) $34,400 MLSNOW
• 1994-02-02 Listed $61,900 MLSNOW
• 1993-10-12 Sold (Public Records) $34,400 Public Records
• 1993-09-02 Listed $34,400 MLSNOW

Property tax history

+6.0%/yr

Latest (2025): $3,255 · +10.5% YoY. Source: county tax records.