6147 Iroquois Trl · Mentor, OH 44060

$139,900

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 110 Days on market

Built 1926 4,599 sqft lot $132/sqft · 25% below area Est $186k · 25% 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +7.3/10.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity Knocks! Ranch with Great Bones in a Prime Mentor Location Bring your vision and unlock the potential in this solid 2-bedroom, 1-bath ranch nestled on a quiet Mentor street! Structurally sound and full of upside, this home offers a fantastic opportunity for investors, flippers, or owner-occupants looking to build instant equity with cosmetic updates. Major improvements were completed just a few years ago, including newer vinyl siding, hot water tank, front porch, insulation, updated electrical, and vinyl windows—giving you peace of mind on the big-ticket items. Now it simply needs the finishing touches: paint, carpet, trim, interior doors, and some drywall work to make it shine again. Inside, you’ll find a surprisingly spacious layout featuring a massive 28-foot living room, a generously sized eat-in kitchen, and a 17-foot primary bedroom. The functional ranch design offers convenient one-floor living and a great canvas to customize to your taste. With its strong mechanicals, solid structure, and desirable Mentor location close to shopping, parks, and Lake Erie amenities, this home is a rare chance to create value quickly.

Key facts

• Updated electrical
• Vinyl windows
• Newer vinyl siding

Tags

• PRIME MENTOR LOCATION
• NEWER VINYL SIDING
• UPDATED ELECTRICAL
• VINYL WINDOWS
• ONE-FLOOR LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.7% in Mentor — 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 84/100 on livability (#53 in OH, #739 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, cost of living A+; Watch: amenities D, commute F.
• Mentor Exempted Village (suburban): math 58% / reading 70% proficiency, ranked #201 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.5%/yr); 264 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $967 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 + 5.5% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.23% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.20%
• DSCR: 1.45
• GRM: 6.8

CMA / ARV

• ARV (median comp): $185,917
• List price: $139,900
• Delta: -24.75%
• 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
766 Cherokee Trl	0.24mi	3/1.5	1,080 (+2%)	3mo	$100,000	$93	81
635 Tioga Trl	0.12mi	4/1.0 (+1)	1,000 (-5%)	1mo	$100,000	$100	80
7275 Eric Dr	0.44mi	3/1.5	1,056 (0%)	11mo	$230,000	$218	68
6399 Seminole Trl	0.47mi	3/1.0	1,010 (-4%)	4mo	$135,000	$134	67
908 Peach Blvd	0.63mi	3/1.0	1,024 (-3%)	2mo	$196,000	$191	64
6426 Southgrove Rd	0.61mi	3/1.0	1,008 (-4%)	1mo	$216,000	$214	63
700 Cherokee Trl	0.17mi	2/1.0 (-1)	1,192 (+13%)	7mo	$159,000	$133	60
6247 Seneca Trl	0.20mi	3/1.0	912 (-14%)	12mo	$120,220	$132	58
596 Tioga Trl	0.13mi	3/2.0	1,200 (+14%)	12mo	$195,000	$163	57
6432 Ambrose Dr	0.57mi	3/1.0	961 (-9%)	2mo	$220,000	$229	57
1053 Eaglewood Dr	0.73mi	2/1.0 (-1)	1,060 (+0%)	8mo	$116,000	$109	54
908 Hayes Ave	0.73mi	3/1.0	1,007 (-5%)	9mo	$140,000	$139	50

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 · 5.54% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $3,132
• Equity at exit: $20,860

10-year hold

• IRR: 14.1%
• Equity multiple: 2.27×
• Total profit: $49,856
• Equity at exit: $12,096

Cash invested: $39,172 (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 44060

• Rents YoY: 5.5%
• Active inventory: 264
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,726 high
• Mortgage (P&I): −$734
• Tax from tax record: −$238 /mo · $2,858/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $333

Break-even live

Break-even rent $1,304

Max offer price $139,900

Occupancy floor 76%

Sensitivity live

Price	-10% $412	-5% $373	+0% $333	+5% $294	+10% $254
Rent	-10% $197	-5% $265	+0% $333	+5% $401	+10% $469
Rate	-1.0pp $404	-0.5pp $369	base $333	+0.5pp $297	+1.0pp $260

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6177 Iroquois Trl Mentor, OH	3.0	1.0	1116	$1,700	$1.52	2d	1	0.05mi
6247 Seneca Rd Mentor, OH	3.0	1.0	912	$1,750	$1.92	2d	1	0.21mi
38280 North Ln Unit H-206 Willoughby, OH	3.0	2.0	1100	$1,400	$1.27	44d	1	1.26mi
38280 North Ln Unit J-208 Willoughby, OH	3.0	2.0	1100	$1,400	$1.27	24d	1	1.26mi
7701 Sharon Dr Mentor on the Lake, OH	2.0	1.5	1125	$1,300	$1.16	44d	1	1.40mi
38360 Tamarac Blvd Willoughby, OH	1.0–2.0	1.0–2.0	950	$1,835	$1.93	2d	29	1.44mi
5950 Andrews Rd Mentor on the Lake, OH	2.0	1.0	888	$1,025	$1.15	44d	1	1.46mi
5950 Andrews Rd Unit 8 Mentor-On-The-Lake, OH	2.0	1.0	888	$1,100	$1.24	44d	1	1.46mi

Listing history 43 events

1. 2026-06-18
   days on market $139,900 Active 110 DOM
2. 2026-06-17
   days on market $139,900 Active 109 DOM
3. 2026-06-16
   days on market $139,900 Active 108 DOM
4. 2026-06-15
   days on market $139,900 Active 107 DOM
5. 2026-06-13
   days on market $139,900 Active 105 DOM
6. 2026-06-09
   days on market $139,900 Active 101 DOM
7. 2026-06-08
   days on market $139,900 Active 100 DOM
8. 2026-06-07
   days on market $139,900 Active 99 DOM
9. 2026-06-05
   days on market $139,900 Active 96 DOM
10. 2026-06-03
    days on market $139,900 Active 95 DOM
11. 2026-06-02
    days on market $139,900 Active 94 DOM
12. 2026-06-01
    days on market $139,900 Active 93 DOM
13. 2026-05-31
    days on market $139,900 Active 92 DOM
14. 2026-03-08
    price $139,900 1170-char remark

    Show marketing remark (1170 chars)

    Opportunity Knocks! Ranch with Great Bones in a Prime Mentor Location Bring your vision and unlock the potential in this solid 2-bedroom, 1-bath ranch nestled on a quiet Mentor street! Structurally sound and full of upside, this home offers a fantastic opportunity for investors, flippers, or owner-occupants looking to build instant equity with cosmetic updates. Major improvements were completed just a few years ago, including newer vinyl siding, hot water tank, front porch, insulation, updated electrical, and vinyl windows—giving you peace of mind on the big-ticket items. Now it simply needs the finishing touches: paint, carpet, trim, interior doors, and some drywall work to make it shine again. Inside, you’ll find a surprisingly spacious layout featuring a massive 28-foot living room, a generously sized eat-in kitchen, and a 17-foot primary bedroom. The functional ranch design offers convenient one-floor living and a great canvas to customize to your taste. With its strong mechanicals, solid structure, and desirable Mentor location close to shopping, parks, and Lake Erie amenities, this home is a rare chance to create value quickly.

15. 2026-02-27
    listed $149,900 Active 1170-char remark

    Show marketing remark (1170 chars)

    Opportunity Knocks! Ranch with Great Bones in a Prime Mentor Location Bring your vision and unlock the potential in this solid 2-bedroom, 1-bath ranch nestled on a quiet Mentor street! Structurally sound and full of upside, this home offers a fantastic opportunity for investors, flippers, or owner-occupants looking to build instant equity with cosmetic updates. Major improvements were completed just a few years ago, including newer vinyl siding, hot water tank, front porch, insulation, updated electrical, and vinyl windows—giving you peace of mind on the big-ticket items. Now it simply needs the finishing touches: paint, carpet, trim, interior doors, and some drywall work to make it shine again. Inside, you’ll find a surprisingly spacious layout featuring a massive 28-foot living room, a generously sized eat-in kitchen, and a 17-foot primary bedroom. The functional ranch design offers convenient one-floor living and a great canvas to customize to your taste. With its strong mechanicals, solid structure, and desirable Mentor location close to shopping, parks, and Lake Erie amenities, this home is a rare chance to create value quickly.

16. 2023-10-30
    price $29,900 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

17. 2023-03-28
    price $29,900 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

18. 2023-03-28
    price $29,900 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

19. 2022-04-20
    status Pending
20. 2022-04-20
    soldstatus $142,500
21. 2022-04-19
    soldstatus $130,000 Closed
22. 2022-03-11
    historical Contingent
23. 2022-03-06
    listed $119,900 Active
24. 2021-03-18
    soldstatus $70,000 Closed
25. 2021-03-18
    soldstatus $70,000
26. 2021-03-08
    status Pending
27. 2021-03-05
    listed $78,500 Active
28. 2020-08-25
    price $29,900 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

29. 2020-06-16
    price $29,900 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

30. 2019-06-28
    price $29,900 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

31. 2015-05-16
    price $59,500 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

32. 2013-11-15
    price $29,900 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

33. 2003-05-06
    soldstatus $43,900
34. 2003-03-07
    listed $39,000
35. 2000-08-31
    soldstatus $25,000
36. 2000-08-30
    soldstatus $25,000 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

37. 2000-07-24
    listed $59,500 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

38. 1998-01-30
    price $59,500 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

39. 1998-01-30
    price $59,500 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

40. 1998-01-30
    price $59,500 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

41. 1998-01-30
    price $59,500 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

42. 1998-01-30
    price $59,500 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

43. 1998-01-30
    price $59,500 85-char remark

    Show marketing remark (85 chars)

    Value In Land Only. House Is Not To Be Shown- Call Office Before Walking On Property.

ⓘ 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: $2,858 · $238/mo
• Projected year-2 tax: $2,858 · $238/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 3/10 Moderate 7 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,707
• − Mortgage interest: −$7,837
• − Property taxes: −$2,858
• − Insurance: −$700
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − Depreciation: −$4,070
• Taxable income: $1,930
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $3,534/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: Mentor Exempted Village
• NCES district ID: 3904549
• Math proficiency: 58% ▼ -17.00%
• Reading proficiency: 70% ▼ -9.00%
• Median HH income: $64,267
• Composite: 55.71/100
• National rank: #1221
• State rank: #201 of 656 in OH

Livability — Mentor

• Score: 84/100
• State rank: #53
• US rank: #739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mentor, OH
• County: Lake County · 204,927 people
• City population: 60,779
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 60,779
• Household income: $87,599
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 883.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 7% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 93% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 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: ▼ -203.36%
• Current HPI: 188.9887
• Rent YoY: ▲ 5.54%
• 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

+135.1% since first listed

30 events — show timeline

• 2026-03-08 Price Changed $139,900 MLSNOW
• 2026-02-27 Listed $149,900 MLSNOW
• 2023-10-30 Price Changed $29,900 MLSNOW
• 2023-03-28 Price Changed $29,900 MLSNOW
• 2023-03-28 Price Changed $29,900 MLSNOW
• 2022-04-20 Pending — MLSNOW
• 2022-04-20 Sold (Public Records) $142,500 Public Records
• 2022-04-19 Sold (MLS) $130,000 MLSNOW
• 2022-03-11 Contingent — MLSNOW
• 2022-03-06 Listed $119,900 MLSNOW
• 2021-03-18 Sold (Public Records) $70,000 Public Records
• 2021-03-18 Sold (MLS) $70,000 MLSNOW
• 2021-03-08 Pending — MLSNOW
• 2021-03-05 Listed $78,500 MLSNOW
• 2020-08-25 Price Changed $29,900 MLSNOW
• 2020-06-16 Price Changed $29,900 MLSNOW
• 2019-06-28 Price Changed $29,900 MLSNOW
• 2015-05-16 Price Changed $59,500 MLSNOW
• 2013-11-15 Price Changed $29,900 MLSNOW
• 2003-05-06 Sold (MLS) $43,900 MLSNOW
• 2003-03-07 Listed $39,000 MLSNOW
• 2000-08-31 Sold (Public Records) $25,000 Public Records
• 2000-08-30 Sold (MLS) $25,000 MLSNOW
• 2000-07-24 Listed $59,500 MLSNOW
• 1998-01-30 Price Changed $59,500 MLSNOW
• 1998-01-30 Price Changed $59,500 MLSNOW
• 1998-01-30 Price Changed $59,500 MLSNOW
• 1998-01-30 Price Changed $59,500 MLSNOW
• 1998-01-30 Price Changed $59,500 MLSNOW
• 1998-01-30 Price Changed $59,500 MLSNOW

Property tax history

+9.2%/yr

Latest (2025): $2,858 · +31.8% YoY. Source: county tax records.