1 Bed 1 Bath Single Section Plan · North Ridgeville, OH 44039

$62,900

1 bd · 1.0 ba · 560 sqft · Manufactured · 90 Days on market

Fair condition

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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 +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Northridge Cove, where your dream lifestyle begins! Our community boasts proximity to popular restaurants, shops, and entertainment hubs. Your children will excel in the esteemed North Ridgeville City School District, including North Ridgeville High School. Nature enthusiasts will love being just 5 minutes from Bradley Woods Reservation and a short drive from Bunns Lake Wildlife Area. With easy access to U. S. Highway 20 and Interstates 480 and 80, the world is at your doorstep. Plus, you're a mere 20 minutes from the tranquil shores of Huntington Beach on Lake Erie. Elevate your lifestyle with a barbecue area, a pet-friendly atmosphere, and a fun-filled playground for the kids. Northridge Cove is dedicated to your well-being. Benefit from on-site management, maintenance services, an easy home-buying process at our sales office, beautifully landscaped grounds, and well-lit streets for added security. If you seek a quiet community with top-notch amenities, look no further than Northridge Cove. Contact us today to schedule a private tour and make Northridge Cove your new home!

Key facts

• Barbecue area
• Playground
• Listed 89 days

Tags

• BRADLEY WOODS RESERVATION
• BUNNS LAKE WILDLIFE AREA
• BARBECUE AREA
• PET FRIENDLY ATMOSPHERE
• PLAYGROUND

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $63k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $59k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent is only 15% of the median local income ($96k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $435 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Recommended offer $59,126 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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 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: 1.94% ✓
• Cap rate: 16.38%
• Cash-on-cash: 36.03%
• DSCR: 2.60
• GRM: 4.3

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: 31.8%
• Equity multiple: 2.33×
• Total profit: $23,504
• Equity at exit: $9,379

10-year hold

• IRR: 38.9%
• Equity multiple: 4.63×
• Total profit: $63,907
• Equity at exit: $5,438

Cash invested: $17,612 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$330
• Tax est. 1.5%: −$79 /mo · $944/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $529

Break-even live

Break-even rent $550

Max offer price $62,900

Occupancy floor 52%

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: $15,725
• Closing costs: $1,887
• Reserves months: —
• Total cash needed: —

Rent comps 1 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

Listing history 3 events

1. 2026-06-01
   days on market $62,900 Active 90 DOM
2. 2026-05-31
   days on market $62,900 Active 89 DOM
3. 2026-03-03
   listed $62,900 Active 1102-char remark

   Show marketing remark (1102 chars)

   Welcome to Northridge Cove, where your dream lifestyle begins! Our community boasts proximity to popular restaurants, shops, and entertainment hubs. Your children will excel in the esteemed North Ridgeville City School District, including North Ridgeville High School. Nature enthusiasts will love being just 5 minutes from Bradley Woods Reservation and a short drive from Bunns Lake Wildlife Area. With easy access to U. S. Highway 20 and Interstates 480 and 80, the world is at your doorstep. Plus, you're a mere 20 minutes from the tranquil shores of Huntington Beach on Lake Erie. Elevate your lifestyle with a barbecue area, a pet-friendly atmosphere, and a fun-filled playground for the kids. Northridge Cove is dedicated to your well-being. Benefit from on-site management, maintenance services, an easy home-buying process at our sales office, beautifully landscaped grounds, and well-lit streets for added security. If you seek a quiet community with top-notch amenities, look no further than Northridge Cove. Contact us today to schedule a private tour and make Northridge Cove your new home!

ⓘ 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: $14,635
• − Mortgage interest: −$3,523
• − Property taxes: −$944
• − Insurance: −$314
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$1,830
• Taxable income: $5,682
• Est. tax owed @ 24.0%: −$1,364
• After-tax cash flow: $4,982/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.

Condition & rehab AI · 1 photo

Fair 45/100 Cosmetic rehab

This manufactured home in North Ridgeville, OH, is in fair condition with cosmetic repairs needed. It offers a good location and potential for value increase with updates.

Repairs flagged

• Minor exterior siding — Siding appears slightly worn
• Minor roof inspection — No visible damage, but may need inspection
• Moderate flooring replacement — Flooring looks worn and may need replacement
• Minor interior paint touch-up — Interior walls may need touch-up

Value-add opportunities

• Both exterior paint — Fresh paint can improve curb appeal and value
• Both interior paint — Fresh paint can improve interior appearance and value
• Both flooring replacement — New flooring can improve comfort and value
• Both HVAC system maintenance — A clean and efficient HVAC system improves comfort and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Siding appears slightly worn	Minor	$500–3,000
roof inspection · No visible damage, but may need inspection	Minor	$500–3,000
flooring replacement · Flooring looks worn and may need replacement	Moderate	$3,000–15,000
interior paint touch-up · Interior walls may need touch-up	Minor	$500–3,000
Total estimated repair cost · 4 items		$4,500–24,000

Value-add ROI direction

• Both exterior paint — Fresh paint can improve curb appeal and value ↑
• Both interior paint — Fresh paint can improve interior appearance and value ↑
• Both flooring replacement — New flooring can improve comfort and value ↑
• Both HVAC system maintenance — A clean and efficient HVAC system improves comfort and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-03-03 Listed $62,900 Zillow