151 Fay Ave · Avon Lake, OH 44012

$225,000

2 bd · 1.5 ba · 1,126 sqft · SingleFamily public records · 16 Days on market

Built 1900 3,920 sqft lot Est $249k · 10% under $6/mo HOA

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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
• ARV discount +11.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Schools +7.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this adorable ranch home located in the heart of Avon Lake, part of the Vineyard Beach Association with private beach park and lakefront access! A great alternative to a condo, with a low maintenance yard, newer vinyl siding, windows and roof. The home features 2 bedrooms, 1 full bathroom with laundry, and an open kitchen. Both the kitchen and bathroom have heated floors! New carpet in the living room, dining area & master bedroom is on order and will be installed later this month. At the back of the house you will find a large bonus room with a built in bar, perfect for hanging out. There is a fenced in yard with a patio and an oversized 2 + car garage with attic. All the appliances will stay and a Home Warranty from America's Preferred is being offered by the sellers.

Key facts

• Newer vinyl siding
• Newer roof
• Updated full bath

Tags

• PRIVATE BEACH PARK ACCESS
• NEWER VINYL SIDING
• NEWER WINDOWS
• NEWER ROOF
• NEWER MECHANICALS
• UPDATED FULL BATH

Property features AI

Finance

• HOA & community: Member of Vineyard Beach homeowners association; Annual association fee of $70

Exterior

• Parking: Detached garage plus driveway parking; 2-car garage; Garage door opener; Paved and gravel surfaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-story home; Faces east; Updated/remodeled condition
• Construction: Vinyl siding; Asphalt/fiberglass shingle roof; Crawl space foundation; Built according to public records
• Exterior features: Private yard; Front porch; Patio; Back and front yard landscaping; Lake privileges

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Range; Refrigerator; Eat-in kitchen
• Bedrooms: Two main-level bedrooms
• Flooring: Tile in kitchen, foyer and bathroom; Laminate in bonus room; Carpet in bedrooms, living and dining areas
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas heating (hot water/steam); Ceiling fans; Wall cooling unit(s)
• Interior features: Ceiling fans; Entrance foyer; Eat-in kitchen; Open floorplan; Living room fireplace
• Laundry & utility: Washer and dryer included; Laundry on main level (inside, in bathroom)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.2% in Avon Lake — 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 (#52 in OH, #736 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F.
• Avon Lake City (suburban): math 78% / reading 80% proficiency, ranked #48 of 656 in OH (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 178 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 31% of the median local income ($116k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 32y 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 $152k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,625 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.32% ✓
• Cap rate: 10.84%
• Cash-on-cash: 16.22%
• DSCR: 1.72
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $248,846
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
151 Fay Ave	0.00mi	2/1.0	1,126 (0%)	1mo	$220,000	$195	97
204 Fay Ave	0.18mi	2/1.0	1,154 (+2%)	16mo	$255,500	$221	72
242 Fay Ave	0.30mi	2/2.0	1,106 (-2%)	15mo	$330,000	$298	68
213 Fay Ave	0.21mi	3/1.0 (+1)	1,100 (-2%)	14mo	$309,900	$282	68
32591 Lake Rd	0.36mi	3/1.0 (+1)	1,108 (-2%)	11mo	$292,100	$264	65
32445 Lake Rd	0.14mi	3/2.0 (+1)	1,179 (+5%)	19mo	$240,000	$204	63
196 Vineyard Rd	0.15mi	3/1.0 (+1)	960 (-15%)	10mo	$250,500	$261	53
148 Englewood Dr	0.56mi	3/1.0 (+1)	1,204 (+7%)	4mo	$240,000	$199	53
215 Sunset Rd	0.23mi	3/1.5 (+1)	1,288 (+14%)	11mo	$240,000	$186	51
208 Vineyard Rd	0.19mi	3/1.0 (+1)	1,008 (-10%)	20mo	$289,000	$287	50
170 Beck Rd	0.49mi	3/1.0 (+1)	1,240 (+10%)	10mo	$253,000	$204	45
32584 Electric Blvd	0.33mi	3/1.0 (+1)	1,275 (+13%)	19mo	$269,900	$212	40

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: 7.2%
• Equity multiple: 1.28×
• Total profit: $17,786
• Equity at exit: $33,548

10-year hold

• IRR: 16.5%
• Equity multiple: 2.35×
• Total profit: $85,349
• Equity at exit: $19,454

Cash invested: $63,000 (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 44012

• Active inventory: 178
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,962 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$209 /mo · $2,507/yr
• Insurance: −$94
• HOA: −$6
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $852

Break-even live

Break-even rent $1,884

Max offer price $225,000

Occupancy floor 66%

Sensitivity live

Price	-10% $979	-5% $915	+0% $852	+5% $788	+10% $724
Rent	-10% $618	-5% $735	+0% $852	+5% $969	+10% $1,086
Rate	-1.0pp $965	-0.5pp $909	base $852	+0.5pp $793	+1.0pp $734

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
173 Forest Blvd Avon Lake, OH	3.0	2.0	1214	$2,199	$1.81	2d	1	1.16mi
126 Beachwood Ave Unit 1496069P Avon Lake, OH	3.0	1.5	1140	$6,089	$5.34	8d	1	1.26mi
165 Moorewood Ave Avon Lake, OH	3.0	2.0	1144	$1,745	$1.53	44d	1	1.36mi

HOA detail

• Monthly dues: $6 · $72/yr

Listing history 12 events

1. 2026-05-01
   status Pending
2. 2026-04-23
   historical Contingent
3. 2026-04-15
   listed $225,000 Active
4. 2021-12-21
   soldstatus $152,500 Closed 797-char remark

   Show marketing remark (797 chars)

   Welcome to this adorable ranch home located in the heart of Avon Lake, part of the Vineyard Beach Association with private beach park and lakefront access! A great alternative to a condo, with a low maintenance yard, newer vinyl siding, windows and roof. The home features 2 bedrooms, 1 full bathroom with laundry, and an open kitchen. Both the kitchen and bathroom have heated floors! New carpet in the living room, dining area & master bedroom is on order and will be installed later this month. At the back of the house you will find a large bonus room with a built in bar, perfect for hanging out. There is a fenced in yard with a patio and an oversized 2 + car garage with attic. All the appliances will stay and a Home Warranty from America's Preferred is being offered by the sellers.

5. 2021-11-19
   status Pending 797-char remark

   Show marketing remark (797 chars)

   Welcome to this adorable ranch home located in the heart of Avon Lake, part of the Vineyard Beach Association with private beach park and lakefront access! A great alternative to a condo, with a low maintenance yard, newer vinyl siding, windows and roof. The home features 2 bedrooms, 1 full bathroom with laundry, and an open kitchen. Both the kitchen and bathroom have heated floors! New carpet in the living room, dining area & master bedroom is on order and will be installed later this month. At the back of the house you will find a large bonus room with a built in bar, perfect for hanging out. There is a fenced in yard with a patio and an oversized 2 + car garage with attic. All the appliances will stay and a Home Warranty from America's Preferred is being offered by the sellers.

6. 2021-11-17
   listed $152,500 Active 797-char remark

   Show marketing remark (797 chars)

   Welcome to this adorable ranch home located in the heart of Avon Lake, part of the Vineyard Beach Association with private beach park and lakefront access! A great alternative to a condo, with a low maintenance yard, newer vinyl siding, windows and roof. The home features 2 bedrooms, 1 full bathroom with laundry, and an open kitchen. Both the kitchen and bathroom have heated floors! New carpet in the living room, dining area & master bedroom is on order and will be installed later this month. At the back of the house you will find a large bonus room with a built in bar, perfect for hanging out. There is a fenced in yard with a patio and an oversized 2 + car garage with attic. All the appliances will stay and a Home Warranty from America's Preferred is being offered by the sellers.

7. 2017-09-29
   soldstatus $115,000
8. 2001-05-23
   soldstatus $100,000
9. 1994-09-15
   soldstatus $75,000
10. 1994-06-30
    soldstatus $75,000
11. 1994-03-17
    listed $82,000
12. 1993-12-03
    soldstatus $52,000

ⓘ 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: $2,507 · $209/mo
• Projected year-2 tax: $3,009 · $251/mo
• Expected delta: +$501/yr (+$42/mo · 20.0%)

ⓘ 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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,548
• − Mortgage interest: −$12,603
• − Property taxes: −$2,507
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,844
• − Management: −$2,844
• − HOA: −$72
• − Depreciation: −$6,545
• Taxable income: $7,007
• Est. tax owed @ 24.0%: −$1,682
• After-tax cash flow: $8,538/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: Avon Lake City
• NCES district ID: 3904812
• Math proficiency: 78% ▼ -10.00%
• Reading proficiency: 80% ▼ -6.00%
• Median HH income: $79,608
• Composite: 69.66/100
• National rank: #296
• State rank: #48 of 656 in OH

Livability — Avon Lake

• Score: 84/100
• State rank: #52
• US rank: #736

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Avon Lake, OH
• County: Lorain County · 219,437 people
• City population: 25,752
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 25,752
• Household income: $115,567
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 290.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 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: ▼ -148.16%
• Current HPI: 207.1177
• 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

+332.7% since first listed

12 events — show timeline

• 2026-05-01 Pending — MLSNOW
• 2026-04-23 Contingent — MLSNOW
• 2026-04-15 Listed $225,000 MLSNOW
• 2021-12-21 Sold (MLS) $152,500 MLSNOW
• 2021-11-19 Pending — MLSNOW
• 2021-11-17 Listed $152,500 MLSNOW
• 2017-09-29 Sold (Public Records) $115,000 Public Records
• 2001-05-23 Sold (Public Records) $100,000 Public Records
• 1994-09-15 Sold (MLS) $75,000 MLSNOW
• 1994-06-30 Sold (Public Records) $75,000 Public Records
• 1994-03-17 Listed $82,000 MLSNOW
• 1993-12-03 Sold (Public Records) $52,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,507 · +9.4% YoY. Source: county tax records.