6610 Lear Nagle Rd #224 · North Ridgeville, OH 44039

$20,000

2 bd · 1.0 ba · 900 sqft · SingleFamily · 120 Days on market

Built 1970 $22/sqft · 90% below area ↓ 47% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Looking for a 2-bed 1 bath home in North Ridgeville under $25,000? This welcoming 900 sqft home at 6610 Lear Nagle Rd #224 delivers comfortable living space, private outdoor areas, driveway parking, and quick access to shopping, dining, and highways within 5 minutes. Step into a home that offers practical comfort and everyday ease. With 2 bedrooms and 1 full bath across approximately 900 square feet, this property provides a functional single level layout that feels both cozy and efficient. The living room offers a bright, inviting space to relax or entertain, while the kitchen features ample cabinetry and counter space to keep everything organized. Both bedrooms are well proportioned and flexible for guests, a home office, or personal retreat. Outside, enjoy a covered carport, private driveway parking, a spacious deck perfect for outdoor seating, and a storage shed for added convenience. Located within the North Ridgeville School District and just minutes from shopping, restaurants, and major highway access, this home makes everyday living simple and accessible. If you are looking for a 2-bed mobile home in North Ridgeville priced at $20,000 that combines comfort and convenience, schedule your private showing today.

Key facts

• Driveway parking
• Parking
• Built 1970

Tags

• PRIVATE OUTDOOR AREAS
• DRIVEWAY PARKING
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO DINING
• QUICK ACCESS TO HIGHWAYS
• FUNCTIONAL SINGLE LEVEL LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (9.0% below list) — sets the bar for market timing.
• Cap rate 67.7% 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $18,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 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 1970 — 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. 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?
7. 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.
8. 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.
9. 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: 7.36% ✓
• Cap rate: 67.73%
• Cash-on-cash: 219.42%
• DSCR: 10.76
• GRM: 1.1

CMA / ARV

• ARV (median comp): $200,307
• List price: $20,000
• Delta: -90.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6610 Lear Nagle Rd #154	0.00mi	2/1.0	900 (0%)	4mo	$20,000	$22	97
6610 Lear Nagel Rd #108	0.21mi	2/1.0	784 (-13%)	13mo	$30,000	$38	57
7100 Fairacres Ave	0.62mi	3/1.0 (+1)	984 (+9%)	9mo	$249,500	$254	43
5930 Broad Blvd	0.74mi	3/1.0 (+1)	936 (+4%)	20mo	$179,900	$192	38

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: —
• Equity multiple: 12.07×
• Total profit: $61,997
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 25.65×
• Total profit: $138,053
• Equity at exit: $1,729

Cash invested: $5,600 (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: 1.1×

Monthly cashflow live

• Estimated rent: $1,471 medium
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $1,024

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 25%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6610 Lear Nagle Rd #30 North Ridgeville, OH	1.0	1.0	560	$1,099	$1.96	17d	1	0.02mi
27380 Cook Rd Olmsted Twp, OH	2.0	2.0	1123	$2,145	$1.91	1d	2	1.07mi
35143 Bainbridge Rd North Ridgeville, OH	3.0	1.0	1096	$1,979	$1.81	4d	1	1.22mi

Listing history 18 events

1. 2026-06-18
   days on market $20,000 Active 120 DOM
2. 2026-06-17
   days on market $20,000 Active 119 DOM
3. 2026-06-16
   days on market $20,000 Active 118 DOM
4. 2026-06-15
   days on market $20,000 Active 117 DOM
5. 2026-06-13
   days on market $20,000 Active 115 DOM
6. 2026-06-09
   days on market $20,000 Active 111 DOM
7. 2026-06-08
   days on market $20,000 Active 110 DOM
8. 2026-06-07
   days on market $20,000 Active 109 DOM
9. 2026-06-05
   days on market $20,000 Active 106 DOM
10. 2026-06-03
    days on market $20,000 Active 105 DOM
11. 2026-06-02
    days on market $20,000 Active 104 DOM
12. 2026-06-01
    days on market $20,000 Active 103 DOM
13. 2026-05-31
    days on market $20,000 Active 102 DOM
14. 2026-02-17
    listed $20,000 Active 1249-char remark

    Show marketing remark (1249 chars)

    Looking for a 2-bed 1 bath home in North Ridgeville under $25,000? This welcoming 900 sqft home at 6610 Lear Nagle Rd #224 delivers comfortable living space, private outdoor areas, driveway parking, and quick access to shopping, dining, and highways within 5 minutes. Step into a home that offers practical comfort and everyday ease. With 2 bedrooms and 1 full bath across approximately 900 square feet, this property provides a functional single level layout that feels both cozy and efficient. The living room offers a bright, inviting space to relax or entertain, while the kitchen features ample cabinetry and counter space to keep everything organized. Both bedrooms are well proportioned and flexible for guests, a home office, or personal retreat. Outside, enjoy a covered carport, private driveway parking, a spacious deck perfect for outdoor seating, and a storage shed for added convenience. Located within the North Ridgeville School District and just minutes from shopping, restaurants, and major highway access, this home makes everyday living simple and accessible. If you are looking for a 2-bed mobile home in North Ridgeville priced at $20,000 that combines comfort and convenience, schedule your private showing today.

15. 2026-02-10
    historical
16. 2026-02-02
    price $29,000
17. 2026-01-12
    price $33,000
18. 2025-12-18
    listed $38,000 Active

ⓘ 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: $17,653
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$582
• Taxable income: $12,727
• Est. tax owed @ 24.0%: −$3,054
• After-tax cash flow: $9,233/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

-47.4% since first listed

5 events — show timeline

• 2026-02-17 Listed $20,000 MLSNOW
• 2026-02-10 Listing Removed — MLSNOW
• 2026-02-02 Price Changed $29,000 MLSNOW
• 2026-01-12 Price Changed $33,000 MLSNOW
• 2025-12-18 Listed $38,000 MLSNOW