267 Milan Ave · Amherst, OH 44001

$219,900

3 bd · 1.5 ba · 1,537 sqft · SingleFamily public records · 13 Days on market

Built 1870 0.38 ac lot Est $249k · 12% under

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Why this score? — see what drove the D+ 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).

• ARV discount +12.8/15.0
• Cash flow +12.4/30.0
• Schools +5.9/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is knocking at 267 Milan Ave in Amherst, and the sellers are motivated to get this one sold! If you've been waiting for the right combination of space, garage capacity, and value this is it. This 3-bedroom home offers generously sized bedrooms, with two located upstairs along with a spacious 15' x 8' landing that's perfect for a play area, office, or flex space. All appliances stay. Most windows are vinyl double-pane, plus the home features central air, a new thermostat, and a full basement ideal for storage. The real showstopper. The massive 32' x 24' detached garage. Whether you're a mechanic, contractor, car enthusiast, or just need serious workspace, this garage is hard to find and a huge value add. Sitting on approximately 1/3 of an acre, there's room to spread out both inside and out. Yes, the home needs some TLC, but it is priced accordingly and offers strong upside potential for the next owner. With motivated sellers and pricing designed to attract attention, don't wait. Homes with garages like this do not last long.

Key facts

• Spacious landing
• Full basement
• Central air

Tags

• DETACHED GARAGE
• SPACIOUS LANDING
• FULL BASEMENT
• VINYL DOUBLE-PANE WINDOWS
• CENTRAL AIR

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-37 ($-438/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (21.6% below list).
• Recommended offer: $172k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.9% in Amherst — 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 81/100 on livability (#100 in OH, #1,523 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Amherst Exempted Village (suburban): math 66% / reading 69% proficiency, ranked #160 of 656 in OH (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 116 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 8y 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.
• Current owner paid $175k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,400 (21.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1870 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $248,994
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
515 Milan Ave	0.24mi	3/2.0	1,544 (+0%)	11mo	$272,500	$176	77
484 N Main St	0.42mi	3/2.5	1,464 (-5%)	5mo	$207,500	$142	65
136 Lincoln St	0.34mi	3/1.5	1,438 (-6%)	11mo	$125,000	$87	64
751 West Martin Ave	0.58mi	3/2.0	1,548 (+1%)	10mo	$227,000	$147	62
811 Tarry Ln	0.52mi	3/2.5	1,620 (+5%)	2mo	$290,000	$179	61
780 Minerva St	0.64mi	3/1.0	1,473 (-4%)	10mo	$179,000	$122	53
321 S Lake St	0.44mi	3/2.0	1,367 (-11%)	10mo	$136,500	$100	51
2182 Myla Way	0.49mi	2/2.0 (-1)	1,628 (+6%)	13mo	$364,610	$224	50
472 Sunset Dr	0.51mi	3/2.5	1,733 (+13%)	3mo	$285,000	$164	49
644 Mill Ave	0.62mi	4/1.5 (+1)	1,624 (+6%)	12mo	$231,500	$143	46
2404 Merriment Dr	0.49mi	2/2.0 (-1)	1,678 (+9%)	14mo	$430,444	$257	43
661 Tenney Ave	0.64mi	4/2.5 (+1)	1,767 (+15%)	4mo	$287,000	$162	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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-38,007
• Equity at exit: $32,788

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-36,286
• Equity at exit: $19,013

Cash invested: $61,572 (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 44001

• Active inventory: 116
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,724 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$154 /mo · $1,844/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-37

Break-even live

Break-even rent $1,770

Max offer price $213,451

Occupancy floor 97%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
275 Cornell Ave Amherst, OH	3.0	1.5	1201	$1,873	$1.56	7d	1	0.42mi
566 Jackson St Amherst, OH	3.0	2.0	1303	$1,595	$1.22	1d	1	0.83mi
7500 Quarry Rd Unit C Amherst, OH	3.0	2.0	1876	$1,500	$0.80	1d	1	1.28mi

Listing history 17 events

1. 2026-04-22
   soldstatus $175,000 Closed 1052-char remark

   Show marketing remark (1052 chars)

   Opportunity is knocking at 267 Milan Ave in Amherst, and the sellers are motivated to get this one sold! If you've been waiting for the right combination of space, garage capacity, and value this is it. This 3-bedroom home offers generously sized bedrooms, with two located upstairs along with a spacious 15' x 8' landing that's perfect for a play area, office, or flex space. All appliances stay. Most windows are vinyl double-pane, plus the home features central air, a new thermostat, and a full basement ideal for storage. The real showstopper. The massive 32' x 24' detached garage. Whether you're a mechanic, contractor, car enthusiast, or just need serious workspace, this garage is hard to find and a huge value add. Sitting on approximately 1/3 of an acre, there's room to spread out both inside and out. Yes, the home needs some TLC, but it is priced accordingly and offers strong upside potential for the next owner. With motivated sellers and pricing designed to attract attention, don't wait. Homes with garages like this do not last long.

2. 2026-04-22
   soldstatus $175,000

   Show marketing remark (1052 chars)

   Opportunity is knocking at 267 Milan Ave in Amherst, and the sellers are motivated to get this one sold! If you've been waiting for the right combination of space, garage capacity, and value this is it. This 3-bedroom home offers generously sized bedrooms, with two located upstairs along with a spacious 15' x 8' landing that's perfect for a play area, office, or flex space. All appliances stay. Most windows are vinyl double-pane, plus the home features central air, a new thermostat, and a full basement ideal for storage. The real showstopper. The massive 32' x 24' detached garage. Whether you're a mechanic, contractor, car enthusiast, or just need serious workspace, this garage is hard to find and a huge value add. Sitting on approximately 1/3 of an acre, there's room to spread out both inside and out. Yes, the home needs some TLC, but it is priced accordingly and offers strong upside potential for the next owner. With motivated sellers and pricing designed to attract attention, don't wait. Homes with garages like this do not last long.

3. 2026-03-16
   status Pending

   Show marketing remark (1052 chars)

   Opportunity is knocking at 267 Milan Ave in Amherst, and the sellers are motivated to get this one sold! If you've been waiting for the right combination of space, garage capacity, and value this is it. This 3-bedroom home offers generously sized bedrooms, with two located upstairs along with a spacious 15' x 8' landing that's perfect for a play area, office, or flex space. All appliances stay. Most windows are vinyl double-pane, plus the home features central air, a new thermostat, and a full basement ideal for storage. The real showstopper. The massive 32' x 24' detached garage. Whether you're a mechanic, contractor, car enthusiast, or just need serious workspace, this garage is hard to find and a huge value add. Sitting on approximately 1/3 of an acre, there's room to spread out both inside and out. Yes, the home needs some TLC, but it is priced accordingly and offers strong upside potential for the next owner. With motivated sellers and pricing designed to attract attention, don't wait. Homes with garages like this do not last long.

4. 2026-03-16
   status Pending 1052-char remark

   Show marketing remark (1052 chars)

   Opportunity is knocking at 267 Milan Ave in Amherst, and the sellers are motivated to get this one sold! If you've been waiting for the right combination of space, garage capacity, and value this is it. This 3-bedroom home offers generously sized bedrooms, with two located upstairs along with a spacious 15' x 8' landing that's perfect for a play area, office, or flex space. All appliances stay. Most windows are vinyl double-pane, plus the home features central air, a new thermostat, and a full basement ideal for storage. The real showstopper. The massive 32' x 24' detached garage. Whether you're a mechanic, contractor, car enthusiast, or just need serious workspace, this garage is hard to find and a huge value add. Sitting on approximately 1/3 of an acre, there's room to spread out both inside and out. Yes, the home needs some TLC, but it is priced accordingly and offers strong upside potential for the next owner. With motivated sellers and pricing designed to attract attention, don't wait. Homes with garages like this do not last long.

5. 2026-03-12
   status Active
6. 2026-03-10
   historical Contingent
7. 2026-03-09
   listed Active Under Contract 1052-char remark

   Show marketing remark (1052 chars)

   Opportunity is knocking at 267 Milan Ave in Amherst, and the sellers are motivated to get this one sold! If you've been waiting for the right combination of space, garage capacity, and value this is it. This 3-bedroom home offers generously sized bedrooms, with two located upstairs along with a spacious 15' x 8' landing that's perfect for a play area, office, or flex space. All appliances stay. Most windows are vinyl double-pane, plus the home features central air, a new thermostat, and a full basement ideal for storage. The real showstopper. The massive 32' x 24' detached garage. Whether you're a mechanic, contractor, car enthusiast, or just need serious workspace, this garage is hard to find and a huge value add. Sitting on approximately 1/3 of an acre, there's room to spread out both inside and out. Yes, the home needs some TLC, but it is priced accordingly and offers strong upside potential for the next owner. With motivated sellers and pricing designed to attract attention, don't wait. Homes with garages like this do not last long.

8. 2026-03-03
   listed $219,900 Active
9. 2026-03-02
   listed $219,900 1052-char remark

   Show marketing remark (1052 chars)

   Opportunity is knocking at 267 Milan Ave in Amherst, and the sellers are motivated to get this one sold! If you've been waiting for the right combination of space, garage capacity, and value this is it. This 3-bedroom home offers generously sized bedrooms, with two located upstairs along with a spacious 15' x 8' landing that's perfect for a play area, office, or flex space. All appliances stay. Most windows are vinyl double-pane, plus the home features central air, a new thermostat, and a full basement ideal for storage. The real showstopper. The massive 32' x 24' detached garage. Whether you're a mechanic, contractor, car enthusiast, or just need serious workspace, this garage is hard to find and a huge value add. Sitting on approximately 1/3 of an acre, there's room to spread out both inside and out. Yes, the home needs some TLC, but it is priced accordingly and offers strong upside potential for the next owner. With motivated sellers and pricing designed to attract attention, don't wait. Homes with garages like this do not last long.

10. 2018-10-23
    soldstatus $93,000 Sold 589-char remark

    Show marketing remark (589 chars)

    There is a listing shortage in Amherst in this price range, so be quick! Charming older bungalow style with a darling front porch near town! Attached 3 CAR garage! No rear neighbors (parcel of rear open land owned by east neighbor). Large living/dining room combo, wide base trim throughout. First floor bathroom and a first floor laundry room, also a main level bedroom! Kitchen is nicely sized and well configured with a corner sink with two windows. Two large dormer style bedrooms up. Basement has a bathroom. So much potential for you to make this old charmer shine! Priced to sell!

11. 2018-10-23
    soldstatus $93,000

    Show marketing remark (589 chars)

    There is a listing shortage in Amherst in this price range, so be quick! Charming older bungalow style with a darling front porch near town! Attached 3 CAR garage! No rear neighbors (parcel of rear open land owned by east neighbor). Large living/dining room combo, wide base trim throughout. First floor bathroom and a first floor laundry room, also a main level bedroom! Kitchen is nicely sized and well configured with a corner sink with two windows. Two large dormer style bedrooms up. Basement has a bathroom. So much potential for you to make this old charmer shine! Priced to sell!

12. 2018-10-02
    status Pending 589-char remark

    Show marketing remark (589 chars)

    There is a listing shortage in Amherst in this price range, so be quick! Charming older bungalow style with a darling front porch near town! Attached 3 CAR garage! No rear neighbors (parcel of rear open land owned by east neighbor). Large living/dining room combo, wide base trim throughout. First floor bathroom and a first floor laundry room, also a main level bedroom! Kitchen is nicely sized and well configured with a corner sink with two windows. Two large dormer style bedrooms up. Basement has a bathroom. So much potential for you to make this old charmer shine! Priced to sell!

13. 2018-09-24
    historical Contingent 589-char remark

    Show marketing remark (589 chars)

    There is a listing shortage in Amherst in this price range, so be quick! Charming older bungalow style with a darling front porch near town! Attached 3 CAR garage! No rear neighbors (parcel of rear open land owned by east neighbor). Large living/dining room combo, wide base trim throughout. First floor bathroom and a first floor laundry room, also a main level bedroom! Kitchen is nicely sized and well configured with a corner sink with two windows. Two large dormer style bedrooms up. Basement has a bathroom. So much potential for you to make this old charmer shine! Priced to sell!

14. 2018-08-31
    price $104,900 589-char remark

    Show marketing remark (589 chars)

    There is a listing shortage in Amherst in this price range, so be quick! Charming older bungalow style with a darling front porch near town! Attached 3 CAR garage! No rear neighbors (parcel of rear open land owned by east neighbor). Large living/dining room combo, wide base trim throughout. First floor bathroom and a first floor laundry room, also a main level bedroom! Kitchen is nicely sized and well configured with a corner sink with two windows. Two large dormer style bedrooms up. Basement has a bathroom. So much potential for you to make this old charmer shine! Priced to sell!

15. 2018-07-17
    price $109,900 589-char remark

    Show marketing remark (589 chars)

    There is a listing shortage in Amherst in this price range, so be quick! Charming older bungalow style with a darling front porch near town! Attached 3 CAR garage! No rear neighbors (parcel of rear open land owned by east neighbor). Large living/dining room combo, wide base trim throughout. First floor bathroom and a first floor laundry room, also a main level bedroom! Kitchen is nicely sized and well configured with a corner sink with two windows. Two large dormer style bedrooms up. Basement has a bathroom. So much potential for you to make this old charmer shine! Priced to sell!

16. 2018-06-13
    listed $114,500 Active 589-char remark

    Show marketing remark (589 chars)

    There is a listing shortage in Amherst in this price range, so be quick! Charming older bungalow style with a darling front porch near town! Attached 3 CAR garage! No rear neighbors (parcel of rear open land owned by east neighbor). Large living/dining room combo, wide base trim throughout. First floor bathroom and a first floor laundry room, also a main level bedroom! Kitchen is nicely sized and well configured with a corner sink with two windows. Two large dormer style bedrooms up. Basement has a bathroom. So much potential for you to make this old charmer shine! Priced to sell!

17. 1994-08-26
    soldstatus $70,000

ⓘ 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: $1,844 · $154/mo
• Projected year-2 tax: $2,637 · $220/mo
• Expected delta: +$793/yr (+$66/mo · 43.0%)

ⓘ 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 · 17 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: $20,688
• − Mortgage interest: −$12,318
• − Property taxes: −$1,844
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$6,397
• Taxable loss: −$4,280
• Est. tax savings @ 24.0%: +$1,027
• After-tax cash flow: $589/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: Amherst Exempted Village
• NCES district ID: 3904519
• Math proficiency: 66% ▼ -15.00%
• Reading proficiency: 69% ▼ -11.00%
• Median HH income: $63,459
• Composite: 58.58/100
• National rank: #988
• State rank: #160 of 656 in OH

Livability — Amherst

• Score: 81/100
• State rank: #100
• US rank: #1523

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amherst, OH
• County: Lorain · 305,041 people
• Metro: Cleveland, OH
• Population (ZIP): 21,123
• Household income: $91,050
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 11.6

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 6% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 10% Slovak 3% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 1% Chinese 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: ▼ -113.43%
• Current HPI: 194.6753
• 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

+150.0% since first listed

17 events — show timeline

• 2026-04-22 Sold (Public Records) $175,000 Public Records
• 2026-04-22 Sold (MLS) $175,000 FAOR
• 2026-03-16 Pending — MLSNOW
• 2026-03-16 Pending — FAOR
• 2026-03-12 Relisted — MLSNOW
• 2026-03-10 Contingent — MLSNOW
• 2026-03-09 Listed — FAOR
• 2026-03-03 Listed $219,900 MLSNOW
• 2026-03-02 Listed $219,900 FAOR
• 2018-10-23 Sold (Public Records) $93,000 Public Records
• 2018-10-23 Sold (MLS) $93,000 MLSNOW
• 2018-10-02 Pending — MLSNOW
• 2018-09-24 Contingent — MLSNOW
• 2018-08-31 Price Changed $104,900 MLSNOW
• 2018-07-17 Price Changed $109,900 MLSNOW
• 2018-06-13 Listed $114,500 MLSNOW
• 1994-08-26 Sold (Public Records) $70,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $1,844 · -18.4% YoY. Source: county tax records.