67 Landings Way · Avon Lake, OH 44012

$189,900

3 bd · 1.5 ba · 1,287 sqft · Condo public records · 30 Days on market

Built 1977 $148/sqft · at area comps Est $196k · at est. $562/mo HOA · 18% of rent

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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 +28.2/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.0/15.0
• 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

Be first or be sorry! Easy to show! Immediate possession. Nicely updated three bedroom, two full bathroom Townhouse with basement and garage. Nicely updated! Eat-in kitchen with breakfast bar, granite countertops, stainless steel sink and all appliances staying. Open & airy! Great room has a slider leading to a private patio. Big owner suite has a tandem full bathroom. Second bedroom has custom built-in trophy cases. Basement has recreation room, laundry room, full bathroom, mechanical area and storage. Nice storage throughout. Maintenance free, economical living in Avon Lake! Best Townhouse for the buck in the city! Abuts the Metroparks. Close to restaurants, schools, shopping and Lake Erie. Plenty of close extra guest parking spaces. Kitchen 2022. Washer & dryer 2020. Pool and clubhouse renovation 2018. Siding, gutters & downspouts, windows, bathroom and garage door 2015. Roof 2013. Includes one year home warranty!

Key facts

• Stainless steel sink
• Private patio
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• BREAKFAST BAR
• GRANITE COUNTERTOPS
• STAINLESS STEEL SINK
• PRIVATE PATIO
• CUSTOM BUILT-IN TROPHY CASES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 33% 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 $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $69k; list at $190k implies a 175% gain — meaningful room to come down on a strong offer.

Recommended offer $187,051 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.55%
• DSCR: 1.60
• GRM: 5.0

CMA / ARV

• ARV (median comp): $196,386
• List price: $189,900
• Delta: -3.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $7,866
• Equity at exit: $28,315

10-year hold

• IRR: 13.5%
• Equity multiple: 2.09×
• Total profit: $57,700
• Equity at exit: $16,419

Cash invested: $53,172 (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 44012

• Active inventory: 182
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,138 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$242 /mo · $2,900/yr
• Insurance: −$79
• HOA: −$562
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $600

Break-even live

Break-even rent $2,378

Max offer price $189,900

Occupancy floor 76%

Sensitivity live

Price	-10% $708	-5% $654	+0% $600	+5% $547	+10% $493
Rent	-10% $353	-5% $476	+0% $600	+5% $724	+10% $848
Rate	-1.0pp $696	-0.5pp $649	base $600	+0.5pp $551	+1.0pp $501

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
165 Moorewood Ave Avon Lake, OH	3.0	2.0	1144	$1,745	$1.53	44d	1	1.02mi
126 Beachwood Ave Unit 1496069P Avon Lake, OH	3.0	1.5	1140	$6,089	$5.34	8d	1	1.09mi
145 Beck Rd Avon Lake, OH	4.0	1.0	1332	$2,250	$1.69	44d	1	1.48mi

HOA detail condo

• Monthly dues: $562 · $6,744/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-23
   price $189,900 948-char remark

   Show marketing remark (948 chars)

   Be first or be sorry! Easy to show! Immediate possession. Nicely updated three bedroom, two full bathroom Townhouse with basement and garage. Nicely updated! Eat-in kitchen with breakfast bar, granite countertops, stainless steel sink and all appliances staying. Open & airy! Great room has a slider leading to a private patio. Big owner suite has a tandem full bathroom. Second bedroom has custom built-in trophy cases. Basement has recreation room, laundry room, full bathroom, mechanical area and storage. Nice storage throughout. Maintenance free, economical living in Avon Lake! Best Townhouse for the buck in the city! Abuts the Metroparks. Close to restaurants, schools, shopping and Lake Erie. Plenty of close extra guest parking spaces. Kitchen 2022. Washer & dryer 2020. Pool and clubhouse renovation 2018. Siding, gutters & downspouts, windows, bathroom and garage door 2015. Roof 2013. Includes one year home warranty!

2. 2026-04-17
   listed $199,900 Active 948-char remark

   Show marketing remark (948 chars)

   Be first or be sorry! Easy to show! Immediate possession. Nicely updated three bedroom, two full bathroom Townhouse with basement and garage. Nicely updated! Eat-in kitchen with breakfast bar, granite countertops, stainless steel sink and all appliances staying. Open & airy! Great room has a slider leading to a private patio. Big owner suite has a tandem full bathroom. Second bedroom has custom built-in trophy cases. Basement has recreation room, laundry room, full bathroom, mechanical area and storage. Nice storage throughout. Maintenance free, economical living in Avon Lake! Best Townhouse for the buck in the city! Abuts the Metroparks. Close to restaurants, schools, shopping and Lake Erie. Plenty of close extra guest parking spaces. Kitchen 2022. Washer & dryer 2020. Pool and clubhouse renovation 2018. Siding, gutters & downspouts, windows, bathroom and garage door 2015. Roof 2013. Includes one year home warranty!

3. 2015-05-21
   soldstatus $69,000
4. 1999-12-10
   soldstatus $98,000
5. 1994-07-20
   soldstatus $86,500

ⓘ 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: $2,900 · $242/mo
• Projected year-2 tax: $2,931 · $244/mo
• Expected delta: +$31/yr (+$3/mo · 1.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $37,657
• − Mortgage interest: −$10,637
• − Property taxes: −$2,900
• − Insurance: −$950
• − Repairs & maintenance: −$3,013
• − Management: −$3,013
• − HOA: −$6,744
• − Depreciation: −$5,524
• Taxable income: $4,877
• Est. tax owed @ 24.0%: −$1,170
• After-tax cash flow: $6,035/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

+119.5% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $189,900 MLSNOW
• 2026-04-17 Listed $199,900 MLSNOW
• 2015-05-21 Sold (Public Records) $69,000 Public Records
• 1999-12-10 Sold (Public Records) $98,000 Public Records
• 1994-07-20 Sold (Public Records) $86,500 Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,900 · +7.0% YoY. Source: county tax records.