6623 Monroe Ln · North Ridgeville, OH 44039

$185,000

3 bd · 2.5 ba · 1,566 sqft · SingleFamily public records · 3 Days on market

Built 1999 0.25 ac lot Est $271k · 32% 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +6.0/10.0
• 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

This is not your run-of-the-mill split level inside and out. Tri-level design. This 1566 square foot home offers an open concept. Three bedrooms, 2 1/2 baths. Large kitchen. Raised deck overlooking large fenced back yard. Master bedroom with full bath. Lower-level has family room with gas fireplace and utility room with washer and dryer. All appliances stay. Located close to Shopping, Medical, Restaurants and only minutes from I-480 and turnpike. Location and value, what could be better than that. Easy to view.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1999

Tags

• EXTRA LARGE FENCED IN LOT
• LOW TRAFFIC DEADEND STREET
• DINING ROOM OPENS TO DECK
• DECK OVERLOOKING THE YARD

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Garage has electricity and garage door opener; Paved driveway; Water available at garage
• Utilities: Public water; Public sewer
• Home design: Three-story home; Faces west
• Construction: Vinyl siding; Asphalt/fiberglass roof; Built per public records
• Exterior features: Deck; Privacy fencing (vinyl and wood); Corner and irregular lot with approximate dimensions 106 x 80

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Three bedrooms located on the second level
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (gas); Central air conditioning; Fireplace contributes to heating
• Interior features: Gas fireplace (1); Finished lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 7.9% 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: 202 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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.

Recommended offer $185,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.10% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $270,918
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33989 Lincoln Ave	0.15mi	3/2.0	1,620 (+3%)	6mo	$306,000	$189	81
6600 Nicoll Dr	0.32mi	3/2.0	1,536 (-2%)	4mo	$265,000	$173	77
6974 Wil Lou Ln	0.43mi	3/1.5	1,552 (-1%)	1mo	$300,150	$193	74
6396 Olive Ave	0.44mi	3/2.0	1,680 (+7%)	0mo	$258,000	$154	65
34128 Gina Dr	0.21mi	3/2.0	1,748 (+12%)	7mo	$250,000	$143	63
5909 Main Ave	0.72mi	3/2.5	1,539 (-2%)	4mo	$258,500	$168	60
34186 Gail Dr	0.29mi	3/1.5	1,768 (+13%)	2mo	$200,000	$113	60
6538 Pitts Blvd	0.35mi	4/1.5 (+1)	1,652 (+6%)	8mo	$252,000	$153	59
7044 Pitts Blvd	0.59mi	3/2.5	1,716 (+10%)	2mo	$297,500	$173	55
5889 Cornell Ave	0.72mi	3/2.0	1,605 (+2%)	8mo	$200,000	$125	54
33531 Dickens Cir	0.43mi	3/2.5	1,792 (+14%)	6mo	$315,000	$176	51
4761 James Rd	0.66mi	4/1.5 (+1)	1,472 (-6%)	1mo	$275,000	$187	49

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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-14,495
• Equity at exit: $27,584

10-year hold

• IRR: 2.0%
• Equity multiple: 1.15×
• Total profit: $7,557
• Equity at exit: $15,995

Cash invested: $51,800 (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 44039

• Active inventory: 202
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$970
• Tax from tax record: −$323 /mo · $3,875/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $242

Break-even live

Break-even rent $1,734

Max offer price $185,000

Occupancy floor 83%

Sensitivity live

Price	-10% $346	-5% $294	+0% $242	+5% $189	+10% $137
Rent	-10% $81	-5% $161	+0% $242	+5% $322	+10% $403
Rate	-1.0pp $335	-0.5pp $289	base $242	+0.5pp $194	+1.0pp $145

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	44d	1	0.33mi
6401 Forest Park Dr North Ridgeville, OH	2.0	2.0	1180	$1,900	$1.61	8d	1	0.81mi
35143 Bainbridge Rd North Ridgeville, OH	3.0	1.0	1096	$1,979	$1.81	5d	1	1.07mi
5922 Albert Ave North Ridgeville, OH	3.0	1.5	1588	$2,125	$1.34	2d	1	1.11mi
6528 Rosebelle Ave North Ridgeville, OH	3.0	1.0	1200	$2,275	$1.90	21d	1	1.12mi
5498 Broad Blvd North Ridgeville, OH	3.0	1.5	1300	$1,895	$1.46	44d	1	1.14mi
27380 Cook Rd Olmsted Twp, OH	2.0	2.0	1123	$2,145	$1.91	2d	2	1.29mi

Listing history 14 events

1. 2026-05-07
   status Pending
2. 2026-05-04
   listed $185,000 Active
3. 2026-04-09
   soldstatus $215,100
4. 2021-06-02
   soldstatus $187,000
5. 2021-05-28
   soldstatus $187,000 Closed 520-char remark

   Show marketing remark (520 chars)

   This is not your run-of-the-mill split level inside and out. Tri-level design. This 1566 square foot home offers an open concept. Three bedrooms, 2 1/2 baths. Large kitchen. Raised deck overlooking large fenced back yard. Master bedroom with full bath. Lower-level has family room with gas fireplace and utility room with washer and dryer. All appliances stay. Located close to Shopping, Medical, Restaurants and only minutes from I-480 and turnpike. Location and value, what could be better than that. Easy to view.

6. 2021-04-28
   status Pending 520-char remark

   Show marketing remark (520 chars)

   This is not your run-of-the-mill split level inside and out. Tri-level design. This 1566 square foot home offers an open concept. Three bedrooms, 2 1/2 baths. Large kitchen. Raised deck overlooking large fenced back yard. Master bedroom with full bath. Lower-level has family room with gas fireplace and utility room with washer and dryer. All appliances stay. Located close to Shopping, Medical, Restaurants and only minutes from I-480 and turnpike. Location and value, what could be better than that. Easy to view.

7. 2021-04-23
   status Active 520-char remark

   Show marketing remark (520 chars)

   This is not your run-of-the-mill split level inside and out. Tri-level design. This 1566 square foot home offers an open concept. Three bedrooms, 2 1/2 baths. Large kitchen. Raised deck overlooking large fenced back yard. Master bedroom with full bath. Lower-level has family room with gas fireplace and utility room with washer and dryer. All appliances stay. Located close to Shopping, Medical, Restaurants and only minutes from I-480 and turnpike. Location and value, what could be better than that. Easy to view.

8. 2021-04-15
   historical Contingent 520-char remark

   Show marketing remark (520 chars)

   This is not your run-of-the-mill split level inside and out. Tri-level design. This 1566 square foot home offers an open concept. Three bedrooms, 2 1/2 baths. Large kitchen. Raised deck overlooking large fenced back yard. Master bedroom with full bath. Lower-level has family room with gas fireplace and utility room with washer and dryer. All appliances stay. Located close to Shopping, Medical, Restaurants and only minutes from I-480 and turnpike. Location and value, what could be better than that. Easy to view.

9. 2021-04-11
   listed $184,900 Active 520-char remark

   Show marketing remark (520 chars)

   This is not your run-of-the-mill split level inside and out. Tri-level design. This 1566 square foot home offers an open concept. Three bedrooms, 2 1/2 baths. Large kitchen. Raised deck overlooking large fenced back yard. Master bedroom with full bath. Lower-level has family room with gas fireplace and utility room with washer and dryer. All appliances stay. Located close to Shopping, Medical, Restaurants and only minutes from I-480 and turnpike. Location and value, what could be better than that. Easy to view.

10. 2012-12-21
    soldstatus $99,500 201-char remark

    Show marketing remark (201 chars)

    Quiet location in North Ridgeville. Cute house on a low traffic street. Great for entertaining. Dining area opens to the deck which leads to the fully fenced back yard. Room for a garden or family fun.

11. 2012-12-21
    soldstatus $97,250

    Show marketing remark (201 chars)

    Quiet location in North Ridgeville. Cute house on a low traffic street. Great for entertaining. Dining area opens to the deck which leads to the fully fenced back yard. Room for a garden or family fun.

12. 2011-08-27
    listed $99,000 201-char remark

    Show marketing remark (201 chars)

    Quiet location in North Ridgeville. Cute house on a low traffic street. Great for entertaining. Dining area opens to the deck which leads to the fully fenced back yard. Room for a garden or family fun.

13. 2000-01-13
    soldstatus $146,700
14. 1998-09-29
    soldstatus $1,575,000

ⓘ 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: $3,875 · $323/mo
• Projected year-2 tax: $3,875 · $323/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $24,484
• − Mortgage interest: −$10,363
• − Property taxes: −$3,875
• − Insurance: −$925
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$5,382
• Taxable income: $22
• Est. tax owed @ 24.0%: −$5
• After-tax cash flow: $2,895/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

-88.3% since first listed

14 events — show timeline

• 2026-05-07 Pending — MLSNOW
• 2026-05-04 Listed $185,000 MLSNOW
• 2026-04-09 Sold (Public Records) $215,100 Public Records
• 2021-06-02 Sold (Public Records) $187,000 Public Records
• 2021-05-28 Sold (MLS) $187,000 MLSNOW
• 2021-04-28 Pending — MLSNOW
• 2021-04-23 Relisted — MLSNOW
• 2021-04-15 Contingent — MLSNOW
• 2021-04-11 Listed $184,900 MLSNOW
• 2012-12-21 Sold (Public Records) $97,250 Public Records
• 2012-12-21 Sold (MLS) $99,500 MLSNOW
• 2011-08-27 Listed $99,000 MLSNOW
• 2000-01-13 Sold (Public Records) $146,700 Public Records
• 1998-09-29 Sold (Public Records) $1,575,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,875 · -2.1% YoY. Source: county tax records.