6610 Lear Nagle Rd #33 · North Ridgeville, OH 44039

$54,900

3 bd · 2.0 ba · 1,176 sqft · Manufactured · 100 Days on market

Built 2003 $47/sqft · 78% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover spacious, comfortable living in this 3-bedroom, 2-bath home located in Northridge Cove. Built in 2003 and offering 1,176 sq ft of convenient one-floor living, this manufactured home features an inviting open layout and great natural light throughout. Inside, the spacious living room flows seamlessly into the eat-in kitchen, which features a charming bay window. The primary suite includes a large closet and private full bath, while two additional bedrooms and a second full bath with a tub provide flexibility for guests, family, or a home office. A convenient first-floor laundry closet located just off the kitchen adds to the home’s functionality. Outside, enjoy your morning coffee on the front deck. Two exterior storage sheds provide excellent additional space for tools, bikes, or hobbies. Residents of Northridge Cove in North Ridgeville enjoy a quiet, well-maintained community with tree-lined streets, a playground, and convenient access to nearby shopping, restaurants, and major highways.

Key facts

• Front deck
• Natural light
• Open layout

Tags

• OPEN LAYOUT
• NATURAL LIGHT
• BAY WINDOW
• FIRST-FLOOR LAUNDRY
• FRONT DECK
• EXTERIOR STORAGE SHEDS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Cap rate 31.2% vs local median 3.3% in North Ridgeville — 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 74/100 on livability (#305 in OH, #4,924 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• North Ridgeville City (suburban): math 49% / reading 61% proficiency, ranked #339 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 206 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 $380 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $10k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $49,959 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 3.50% ✓
• Cap rate: 31.21%
• Cash-on-cash: 88.99%
• DSCR: 4.96
• GRM: 2.4

CMA / ARV

• ARV (median comp): $253,605
• List price: $54,900
• Delta: -78.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 89.6%
• Equity multiple: 5.15×
• Total profit: $63,741
• Equity at exit: $8,186

10-year hold

• IRR: 92.6%
• Equity multiple: 10.70×
• Total profit: $149,117
• Equity at exit: $4,747

Cash invested: $15,372 (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 44039

• Active inventory: 206
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,923 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $1,140

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 36%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6610 Lear Nagle Rd #157 North Ridgeville, OH	3.0	2.0	1344	$1,549	$1.15	43d	1	0.10mi
27380 Cook Rd Olmsted Twp, OH	2.0	2.0	1123	$2,145	$1.91	1d	2	0.90mi
5498 Broad Blvd North Ridgeville, OH	3.0	1.5	1300	$1,895	$1.46	43d	1	1.19mi
6401 Forest Park Dr North Ridgeville, OH	2.0	2.0	1180	$1,900	$1.61	7d	1	1.23mi
35143 Bainbridge Rd North Ridgeville, OH	3.0	1.0	1096	$1,979	$1.81	4d	1	1.40mi
8300 Ira Dr North Ridgeville, OH	2.0	2.0	1210	$2,134	$1.76	1d	7	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $54,900 Active 100 DOM
2. 2026-06-17
   days on market $54,900 Active 99 DOM
3. 2026-06-16
   days on market $54,900 Active 98 DOM
4. 2026-06-15
   days on market $54,900 Active 97 DOM
5. 2026-06-13
   days on market $54,900 Active 95 DOM
6. 2026-06-09
   days on market $54,900 Active 91 DOM
7. 2026-06-08
   days on market $54,900 Active 90 DOM
8. 2026-06-07
   pricedays on market $54,900 Active 89 DOM
9. 2026-06-05
   days on market $59,900 Active 86 DOM
10. 2026-06-03
    days on market $59,900 Active 85 DOM
11. 2026-06-02
    days on market $59,900 Active 84 DOM
12. 2026-06-01
    days on market $59,900 Active 83 DOM
13. 2026-05-31
    days on market $59,900 Active 82 DOM
14. 2026-05-13
    price $59,900 1018-char remark

    Show marketing remark (1018 chars)

    Discover spacious, comfortable living in this 3-bedroom, 2-bath home located in Northridge Cove. Built in 2003 and offering 1,176 sq ft of convenient one-floor living, this manufactured home features an inviting open layout and great natural light throughout. Inside, the spacious living room flows seamlessly into the eat-in kitchen, which features a charming bay window. The primary suite includes a large closet and private full bath, while two additional bedrooms and a second full bath with a tub provide flexibility for guests, family, or a home office. A convenient first-floor laundry closet located just off the kitchen adds to the home’s functionality. Outside, enjoy your morning coffee on the front deck. Two exterior storage sheds provide excellent additional space for tools, bikes, or hobbies. Residents of Northridge Cove in North Ridgeville enjoy a quiet, well-maintained community with tree-lined streets, a playground, and convenient access to nearby shopping, restaurants, and major highways.

15. 2026-03-09
    listed $65,000 Active 1018-char remark

    Show marketing remark (1018 chars)

    Discover spacious, comfortable living in this 3-bedroom, 2-bath home located in Northridge Cove. Built in 2003 and offering 1,176 sq ft of convenient one-floor living, this manufactured home features an inviting open layout and great natural light throughout. Inside, the spacious living room flows seamlessly into the eat-in kitchen, which features a charming bay window. The primary suite includes a large closet and private full bath, while two additional bedrooms and a second full bath with a tub provide flexibility for guests, family, or a home office. A convenient first-floor laundry closet located just off the kitchen adds to the home’s functionality. Outside, enjoy your morning coffee on the front deck. Two exterior storage sheds provide excellent additional space for tools, bikes, or hobbies. Residents of Northridge Cove in North Ridgeville enjoy a quiet, well-maintained community with tree-lined streets, a playground, and convenient access to nearby shopping, restaurants, and major highways.

16. 2006-06-02
    historical
17. 2005-09-02
    listed $39,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,080
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − Depreciation: −$1,597
• Taxable income: $13,617
• Est. tax owed @ 24.0%: −$3,268
• After-tax cash flow: $10,412/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: North Ridgeville City
• NCES district ID: 3904453
• Math proficiency: 49% ▼ -21.00%
• Reading proficiency: 61% ▼ -11.00%
• Median HH income: $66,437
• Composite: 48.46/100
• National rank: #2130
• State rank: #339 of 656 in OH

Livability — North Ridgeville

• Score: 74/100
• State rank: #305
• US rank: #4924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Ridgeville, OH
• County: Lorain County · 219,437 people
• City population: 36,780
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 36,780
• Household income: $96,485
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 207.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -160.14%
• Current HPI: 210.6074
• 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

+50.1% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $59,900 MLSNOW
• 2026-03-09 Listed $65,000 MLSNOW
• 2006-06-02 Listing Removed — MLSNOW
• 2005-09-02 Listed $39,900 MLSNOW