145 Grant St · Conneaut, OH 44030

$169,000

4 bd · 4.0 ba · 1,956 sqft · MultiFamily public records · 4 Days on market

Built 1920 6,098 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Great investment opportunity! This well-maintained triplex features three units, including two one-bedroom units and one two-bedroom unit. Each unit showcases beautiful woodwork and enjoys an abundance of natural light, creating a warm and inviting atmosphere. The walk-out basement is currently used for storage but was previously utilized as a fourth unit, offering potential for additional income or the opportunity to create a shared laundry area for tenants. Outside, there is room for expansion with the potential to add additional parking on the west side of the property beyond the existing shrubs. This property offers both charm and opportunity—perfect for investors looking to grow

Key facts

• Additional parking
• Walk-out basement
• Triplex

Tags

• TRIPLEX
• WALK-OUT BASEMENT
• ROOM FOR EXPANSION
• ADDITIONAL PARKING

Property features AI

Finance

• Financial info: Tenant responsible for all utilities including electricity, gas, hot water, water, and trash collection

Exterior

• Parking: Common parking
• Utilities: Public water; Public sewer
• Home design: Single building on the lot
• Construction: Brick construction; Metal roof; Built per public records
• Exterior features: Corner lot; Faces north

Interior

• Bedrooms: Total of 8 rooms (bedrooms and living spaces combined)
• Bathrooms: 4 full bathrooms
• Heating & cooling: Gas baseboard heating
• Interior features: Full unfinished walk-out basement

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/4.0-bath units multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $404/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Cap rate 14.9% vs local median 4.3% in Conneaut — 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 63/100 on livability (#808 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D, amenities F.
• Conneaut Area City (town): math 35% / reading 50% proficiency, ranked #527 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lakeshore Primary Elementary School (456 students, 65% FRL); Conneaut Middle School (math 34% / reading 46%, grade F, #511 of 654 statewide, top 79%, 372 students, 58% FRL); Conneaut High School (math 32% / reading 72%, grade D+, #343 of 781 statewide, top 47%, 390 students, 53% FRL).
• Market conditions: 61 active listings in the ZIP; 155 units permitted in Ashtabula County in 2024 (0 in 5+ unit buildings).
• At $2,873/mo this rent would consume 60% of the median local household income ($57k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Ashtabula County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.70% ✓
• Cap rate: 14.90%
• Cash-on-cash: 30.75%
• DSCR: 2.37
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.5%
• Equity multiple: 2.05×
• Total profit: $49,808
• Equity at exit: $25,198

10-year hold

• IRR: 33.2%
• Equity multiple: 4.02×
• Total profit: $142,701
• Equity at exit: $14,612

Cash invested: $47,320 (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 44030

• Home prices YoY: -10.8%
• Active inventory: 61
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $2,873 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$101 /mo · $1,207/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $1,212

Break-even live

Break-even rent $1,338

Max offer price $169,000

Occupancy floor 53%

Sensitivity live

Price	-10% $1,308	-5% $1,260	+0% $1,212	+5% $1,165	+10% $1,117
Rent	-10% $985	-5% $1,099	+0% $1,212	+5% $1,326	+10% $1,439
Rate	-1.0pp $1,297	-0.5pp $1,255	base $1,212	+0.5pp $1,169	+1.0pp $1,124

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	4	4	$2,874
Total (3 units)			$2,873

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $169,000 Active 4 DOM
2. 2026-06-21
   days on market $169,000 Active 3 DOM
3. 2026-06-17
   remarks 693-char remark
4. 2026-06-17
   listed $169,000 Active 1 DOM

ⓘ 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: $1,207 · $101/mo
• Projected year-2 tax: $1,922 · $160/mo
• Expected delta: +$715/yr (+$60/mo · 59.2%)

ⓘ 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 ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,476
• − Mortgage interest: −$9,467
• − Property taxes: −$1,207
• − Insurance: −$845
• − Repairs & maintenance: −$2,758
• − Management: −$2,758
• − Depreciation: −$4,916
• Taxable income: $12,524
• Est. tax owed @ 24.0%: −$3,006
• After-tax cash flow: $11,543/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: Conneaut Area City
• NCES district ID: 3904381
• Math proficiency: 35% ▼ -18.00%
• Reading proficiency: 50% ▼ -12.00%
• Median HH income: $38,064
• Composite: 35.37/100
• National rank: #4953
• State rank: #527 of 656 in OH

Livability — Conneaut

• Score: 63/100
• State rank: #808
• US rank: #14907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Conneaut, OH
• County: Ashtabula · 97,617 people
• City population: 16,317
• Metro: Cleveland, OH
• Population (ZIP): 16,317
• Household income: $57,264
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 11.2

Population outlook (Ashtabula County) Hauer SSP2

• Today (2025): 92,950 people
• By 2030: 89,146 · -4.1%
• By 2040: 80,715 · -13.2%
• By 2050: 72,270 · -22.2%
• By 2075: 55,780 · -40.0%
• By 2100: 40,928 · -56.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ashtabula

• 2024 margin: Strong R (+28.4) · D 35.4% · R 63.8%
• 2008→2024 swing: -41.9pp toward R · 2008: 13.5pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+23.5 2016: R+19.0 2012: D+12.1 2008: D+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.21%
• Current HPI: 265.5019
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-16 Listed $169,000 MLSNOW

Property tax history

+0.1%/yr

Latest (2025): $1,207 · -1.0% YoY. Source: county tax records.