318 11th St · Elyria, OH 44035

$53,000

3 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 94 Days on market

Built 1900 5,662 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
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Fix-and-Flip Opportunity! This 3-bedroom, 1-bath home at 318 11th St in Elyria offers 1,164 sq ft and excellent value-add potential. Featuring a traditional layout with a spacious living area, dining space, and three nicely sized bedrooms, this property is ready for updates and improvements. Ideal for investors looking to renovate and build equity. Convenient location with easy access to Cleveland, Lake Erie, shopping, and major roadways. Property sold as-is. Cash or rehab financing recommended

Key facts

• Spacious living area
• Value-add potential
• Dining space

Tags

• SPACIOUS LIVING AREA
• DINING SPACE
• VALUE-ADD POTENTIAL
• EASY ACCESS TO CLEVELAND
• EASY ACCESS TO LAKE ERIE
• EASY ACCESS TO SHOPPING

Property features AI

Exterior

• Parking: Garage with 1 car space; Alley access; Unpaved parking
• Home design: 2-story house; Asphalt/composition/fiberglass roof
• Construction: Built per public records; Aluminum siding construction
• Exterior features: Front porch; Aluminum siding

Interior

• Bathrooms: 1 full bathroom
• Interior features: Full basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $48k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 4.0% in Elyria — 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 75/100 on livability (#243 in OH, #3,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, employment D, commute F.
• Elyria City Schools (urban): math 21% / reading 37% proficiency, ranked #586 of 656 in OH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.7%/yr); 360 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 31y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $53k implies a 291% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $48,230 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 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 1900 — 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. 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 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: 1.90% ✓
• Cap rate: 15.22%
• Cash-on-cash: 31.89%
• DSCR: 2.42
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $133,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1307 West Ave	0.20mi	3/1.5	1,192 (+2%)	7mo	$137,500	$115	78
426 11th St	0.18mi	4/1.5 (+1)	1,147 (-2%)	6mo	$152,000	$133	77
210 E 15th St	0.27mi	3/1.5	1,117 (-4%)	2mo	$130,000	$116	77
334 16th St	0.29mi	2/1.0 (-1)	1,216 (+4%)	2mo	$89,000	$73	72
241 8th St	0.31mi	2/1.0 (-1)	1,104 (-5%)	2mo	$90,000	$82	71
227 7th St	0.37mi	3/1.0	1,202 (+3%)	9mo	$71,500	$59	69
1101 West Ave	0.13mi	3/2.0	1,306 (+12%)	2mo	$168,000	$129	68
238 George St	0.13mi	3/1.0	1,311 (+13%)	7mo	$135,000	$103	67
480 10th St	0.32mi	3/1.0	1,087 (-7%)	9mo	$129,900	$120	66
508 12th St	0.25mi	3/1.5	1,291 (+11%)	3mo	$134,050	$104	66
325 15th St	0.20mi	3/1.0	1,012 (-13%)	7mo	$133,000	$131	63
614 Mussey Ave	0.59mi	2/1.0 (-1)	1,032 (-11%)	3mo	$42,500	$41	46

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 · 6.74% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 2.38×
• Total profit: $20,506
• Equity at exit: $7,902

10-year hold

• IRR: 40.5%
• Equity multiple: 5.57×
• Total profit: $67,798
• Equity at exit: $4,582

Cash invested: $14,840 (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 44035

• Rents YoY: 6.7%
• Active inventory: 360
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,008 high
• Mortgage (P&I): −$278
• Tax from tax record: −$102 /mo · $1,222/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $394

Break-even live

Break-even rent $509

Max offer price $53,000

Occupancy floor 56%

Sensitivity live

Price	-10% $424	-5% $409	+0% $394	+5% $379	+10% $364
Rent	-10% $315	-5% $355	+0% $394	+5% $434	+10% $474
Rate	-1.0pp $421	-0.5pp $408	base $394	+0.5pp $381	+1.0pp $367

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1309 Middle Ave Elyria, OH	2.0	1.0	1000	$795	$0.80	44d	1	0.17mi
116 Water St Elyria, OH	2.0	1.0	888	$1,100	$1.24	24d	1	0.84mi
334 Washington Ave Unit 102F Elyria, OH	2.0	1.0	750	$895	$1.19	22d	1	1.18mi
10425 Middle Ave Elyria, OH	3.0–4.0	2.0	1424	$1,209	$0.85	2d	1	1.19mi
138 Mendel Ct #1 Elyria, OH	2.0	1.0	700	$750	$1.07	15d	1	1.41mi
780 Oberlin Elyria Rd Apt 4 Elyria, OH	2.0	1.0	850	$975	$1.15	2d	1	1.46mi
129 Park Meadow Ln Elyria, OH	1.0–2.0	1.0	729	$1,179	$1.62	2d	1	1.48mi

Listing history 27 events

1. 2026-06-21
   days on market $53,000 Active 94 DOM
2. 2026-06-18
   days on market $53,000 Active 91 DOM
3. 2026-06-17
   days on market $53,000 Active 90 DOM
4. 2026-06-16
   days on market $53,000 Active 89 DOM
5. 2026-06-15
   days on market $53,000 Active 88 DOM
6. 2026-06-13
   days on market $53,000 Active 86 DOM
7. 2026-06-13
   days on market $53,000 Active 85 DOM
8. 2026-06-09
   days on market $53,000 Active 82 DOM
9. 2026-06-08
   days on market $53,000 Active 81 DOM
10. 2026-06-07
    days on market $53,000 Active 80 DOM
11. 2026-06-03
    days on market $53,000 Active 76 DOM
12. 2026-06-02
    days on market $53,000 Active 75 DOM
13. 2026-06-01
    days on market $53,000 Active 74 DOM
14. 2026-05-31
    days on market $53,000 Active 73 DOM
15. 2026-04-13
    price $53,000
16. 2026-03-18
    listed $57,700 Active
17. 2026-02-27
    historical
18. 2026-02-17
    price $58,500
19. 2026-01-19
    price $65,000
20. 2026-01-15
    status Active
21. 2025-12-04
    status Pending
22. 2025-10-29
    listed $68,500 Active
23. 2000-10-25
    historical
24. 2000-04-25
    listed $55,000
25. 1996-03-03
    historical
26. 1995-10-03
    listed $55,000
27. 1988-05-11
    soldstatus $13,550

ⓘ 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: $1,222 · $102/mo
• Projected year-2 tax: $1,222 · $102/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 ≥98°F today · 16 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: $12,096
• − Mortgage interest: −$2,969
• − Property taxes: −$1,222
• − Insurance: −$265
• − Repairs & maintenance: −$968
• − Management: −$968
• − Depreciation: −$1,542
• Taxable income: $4,163
• Est. tax owed @ 24.0%: −$999
• After-tax cash flow: $3,734/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: Elyria City Schools
• NCES district ID: 3904394
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 37% ▼ -15.00%
• Median HH income: $40,992
• Composite: 24.45/100
• National rank: #7670
• State rank: #586 of 656 in OH

Livability — Elyria

• Score: 75/100
• State rank: #243
• US rank: #3869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elyria, OH
• County: Lorain County · 219,437 people
• City population: 62,179
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 62,179
• Household income: $56,408
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 2229.0

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 (70%)
• Race & ethnicity: White 70% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 94% English-only · Spanish 4% Chinese 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: ▼ -139.09%
• Current HPI: 199.7354
• Rent YoY: ▲ 6.74%
• 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

+291.1% since first listed

13 events — show timeline

• 2026-04-13 Price Changed $53,000 MLSNOW
• 2026-03-18 Listed $57,700 MLSNOW
• 2026-02-27 Listing Removed — MLSNOW
• 2026-02-17 Price Changed $58,500 MLSNOW
• 2026-01-19 Price Changed $65,000 MLSNOW
• 2026-01-15 Relisted — MLSNOW
• 2025-12-04 Pending — MLSNOW
• 2025-10-29 Listed $68,500 MLSNOW
• 2000-10-25 Listing Removed — MLSNOW
• 2000-04-25 Listed $55,000 MLSNOW
• 1996-03-03 Listing Removed — MLSNOW
• 1995-10-03 Listed $55,000 MLSNOW
• 1988-05-11 Sold (Public Records) $13,550 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,222 · +2.0% YoY. Source: county tax records.