182 Norman Ave · Avon Lake, OH 44012

$209,000

3 bd · 1.0 ba · 1,083 sqft · SingleFamily public records · 19 Days on market

Built 1947 0.27 ac lot $193/sqft · 9% below area Est $229k · 9% 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 +30.0/30.0
• ARV discount +11.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Cute bungalow in Avon Lake. 100' wide lot! Great charm and original hardwood floors in most of the rooms. Has two bedrooms and a full bathroom on the first floor. Kitchen with dinette area overlooks the spacious backyard. Second floor includes the third bedroom as well as a nice walk-in closet for storage. The second bathroom is located in the basement and includes a step-in shower. This basement provides lots of options for storage. The roof was installed in approximately 2012. Furnace and A/C are approx. 10 years old; Hot Water tank is approximately 1 year. old. Storage barn has electricity. The one car garage is drywalled and has electricity as well. Great location only minutes to Giant Eagle Grocery Store as well as all the additional shopping venues at Learwood Square Shopping Center. .

Key facts

• Spacious backyard
• Walk-in closet
• Storage barn

Tags

• BUNGALOW
• HARDWOOD FLOORS
• SPACIOUS BACKYARD
• WALK-IN CLOSET
• STEP-IN SHOWER
• STORAGE BARN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $209k).
• Recommended offer: $206k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% 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: 182 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 36% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $209k implies a 248% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,865 (1.5% below list)

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.67% ✓
• Cap rate: 13.78%
• Cash-on-cash: 26.74%
• DSCR: 2.19
• GRM: 5.0

CMA / ARV

• ARV (median comp): $229,177
• List price: $209,000
• Delta: -8.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
182 Norman Ave	0.00mi	3/2.0	1,083 (0%)	0mo	$190,000	$175	96
196 S Point Dr	0.33mi	3/1.0	1,100 (+2%)	0mo	$215,000	$195	82
187 Lakewood Dr	0.12mi	3/1.0	1,056 (-2%)	13mo	$247,000	$234	79
239 Lear Rd	0.08mi	3/2.0	1,100 (+2%)	15mo	$245,000	$223	77
110 Oakwood Dr	0.37mi	3/2.0	1,100 (+2%)	7mo	$277,500	$252	70
128 Oakwood Dr	0.30mi	4/2.0 (+1)	999 (-8%)	2mo	$280,000	$280	62
107 Forest Blvd	0.39mi	3/2.0	1,101 (+2%)	19mo	$280,000	$254	59
170 Beck Rd	0.63mi	3/1.0	1,240 (+14%)	10mo	$253,000	$204	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: 20.6%
• Equity multiple: 1.84×
• Total profit: $49,252
• Equity at exit: $31,163

10-year hold

• IRR: 28.8%
• Equity multiple: 3.56×
• Total profit: $150,092
• Equity at exit: $18,071

Cash invested: $58,520 (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: 182
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$278 /mo · $3,332/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $1,304

Break-even live

Break-even rent $1,849

Max offer price $209,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,422	-5% $1,363	+0% $1,304	+5% $1,245	+10% $1,186
Rent	-10% $1,028	-5% $1,166	+0% $1,304	+5% $1,442	+10% $1,581
Rate	-1.0pp $1,409	-0.5pp $1,357	base $1,304	+0.5pp $1,250	+1.0pp $1,195

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: $52,250
• Closing costs: $6,270
• 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	3d	1	0.23mi
145 Beck Rd Avon Lake, OH	4.0	1.0	1332	$2,250	$1.69	45d	1	0.67mi
32414 Lake Rd Unit 1496053P Avon Lake, OH	4.0	3.0	850	$16,357	$19.24	22d	1	1.14mi

Listing history 5 events

1. 2026-05-11
   status Pending 804-char remark

   Show marketing remark (804 chars)

   Cute bungalow in Avon Lake. 100' wide lot! Great charm and original hardwood floors in most of the rooms. Has two bedrooms and a full bathroom on the first floor. Kitchen with dinette area overlooks the spacious backyard. Second floor includes the third bedroom as well as a nice walk-in closet for storage. The second bathroom is located in the basement and includes a step-in shower. This basement provides lots of options for storage. The roof was installed in approximately 2012. Furnace and A/C are approx. 10 years old; Hot Water tank is approximately 1 year. old. Storage barn has electricity. The one car garage is drywalled and has electricity as well. Great location only minutes to Giant Eagle Grocery Store as well as all the additional shopping venues at Learwood Square Shopping Center. .

2. 2026-05-07
   price $209,000 804-char remark

   Show marketing remark (804 chars)

   Cute bungalow in Avon Lake. 100' wide lot! Great charm and original hardwood floors in most of the rooms. Has two bedrooms and a full bathroom on the first floor. Kitchen with dinette area overlooks the spacious backyard. Second floor includes the third bedroom as well as a nice walk-in closet for storage. The second bathroom is located in the basement and includes a step-in shower. This basement provides lots of options for storage. The roof was installed in approximately 2012. Furnace and A/C are approx. 10 years old; Hot Water tank is approximately 1 year. old. Storage barn has electricity. The one car garage is drywalled and has electricity as well. Great location only minutes to Giant Eagle Grocery Store as well as all the additional shopping venues at Learwood Square Shopping Center. .

3. 2026-04-20
   listed $229,900 Active 804-char remark

   Show marketing remark (804 chars)

   Cute bungalow in Avon Lake. 100' wide lot! Great charm and original hardwood floors in most of the rooms. Has two bedrooms and a full bathroom on the first floor. Kitchen with dinette area overlooks the spacious backyard. Second floor includes the third bedroom as well as a nice walk-in closet for storage. The second bathroom is located in the basement and includes a step-in shower. This basement provides lots of options for storage. The roof was installed in approximately 2012. Furnace and A/C are approx. 10 years old; Hot Water tank is approximately 1 year. old. Storage barn has electricity. The one car garage is drywalled and has electricity as well. Great location only minutes to Giant Eagle Grocery Store as well as all the additional shopping venues at Learwood Square Shopping Center. .

4. 1999-06-21
   soldstatus $60,000
5. 1994-05-31
   soldstatus $60,000

ⓘ 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: $3,332 · $278/mo
• Projected year-2 tax: $3,332 · $278/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 ≥96°F today · 17 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: $41,998
• − Mortgage interest: −$11,707
• − Property taxes: −$3,332
• − Insurance: −$1,045
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$6,080
• Taxable income: $13,114
• Est. tax owed @ 24.0%: −$3,147
• After-tax cash flow: $12,501/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

+248.3% since first listed

5 events — show timeline

• 2026-05-11 Pending — MLSNOW
• 2026-05-07 Price Changed $209,000 MLSNOW
• 2026-04-20 Listed $229,900 MLSNOW
• 1999-06-21 Sold (Public Records) $60,000 Public Records
• 1994-05-31 Sold (Public Records) $60,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $3,332 · +9.4% YoY. Source: county tax records.