517 Dewitt St · Lorain, OH 44055

$20,900

5 bd · 2.0 ba · 1,389 sqft · SingleFamily public records · 17 Days on market

Built 1900 5,227 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to buy this one and a half story fixer upper located in Lorain, OH and siting on a 40x130 lot. The interior has 1389 sq. ft. with 5 bedrooms and 2 bathrooms plus a partial basement.

Key facts

• 5,227 sq ft lot
• Built 1900
• Listed 17 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family property; Shingle roof; Vinyl siding
• Construction: Built (year source: appraiser)
• Exterior features: Lot approximately 0.12 acres

Interior

• Bedrooms: 4 main-level bedrooms
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air heating; Heating present
• Interior features: Partially finished basement; Has basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $21k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $21k).
• Recommended offer: $21k (1.5% below list) — sets the bar for market timing.
• Cap rate 73.3% vs local median 5.9% in Lorain — 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 67/100 on livability (#595 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities D, health & safety D.
• Clearview Local (suburban): math 21% / reading 44% proficiency, ranked #574 of 656 in OH (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• At $1,661/mo this rent would consume 49% of the median local household income ($41k/yr) (locally 1140% of renters already pay >50% of income on rent) — 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 $144 of loan paydown is wiped out by about $627 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($21k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $20,586 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 7.95% ✓
• Cap rate: 73.33%
• Cash-on-cash: 239.41%
• DSCR: 11.65
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $129,177
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 E 35th St	0.41mi	4/2.0 (-1)	1,404 (+1%)	1mo	$95,000	$68	73
230 W 39th St	0.31mi	4/1.0 (-1)	1,480 (+7%)	1mo	$190,000	$128	65
3625 Toledo Ave	0.23mi	4/1.5 (-1)	1,272 (-8%)	15mo	$118,000	$93	56
3645 Clifton Ave	0.26mi	4/1.5 (-1)	1,476 (+6%)	19mo	$86,000	$58	55
813 E 34th St	0.47mi	4/1.5 (-1)	1,300 (-6%)	23mo	$167,800	$129	41

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: —
• Equity multiple: 13.13×
• Total profit: $70,998
• Equity at exit: $3,116

10-year hold

• IRR: —
• Equity multiple: 27.94×
• Total profit: $157,676
• Equity at exit: $1,807

Cash invested: $5,852 (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 44055

• Home prices YoY: -30.5%
• Active inventory: 81
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$110
• Tax est. 1.5%: −$26 /mo · $314/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $1,168

Break-even live

Break-even rent $183

Max offer price $20,900

Occupancy floor 25%

Sensitivity live

Price	-10% $1,182	-5% $1,175	+0% $1,168	+5% $1,160	+10% $1,153
Rent	-10% $1,036	-5% $1,102	+0% $1,168	+5% $1,233	+10% $1,299
Rate	-1.0pp $1,178	-0.5pp $1,173	base $1,168	+0.5pp $1,162	+1.0pp $1,157

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: $5,225
• Closing costs: $627
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 E 31st St Lorain, OH	5.0	2.0	1562	$1,550	$0.99	2d	1	0.66mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	24d	1	1.44mi
1813 E 30th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	44d	1	1.45mi

Listing history 7 events

1. 2026-06-07
   pricedays on market $20,900 Active 17 DOM
2. 2026-06-05
   days on market $21,100 Active 14 DOM
3. 2026-06-03
   days on market $21,100 Active 13 DOM
4. 2026-06-02
   days on market $21,100 Active 12 DOM
5. 2026-06-01
   days on market $21,100 Active 11 DOM
6. 2026-05-31
   days on market $21,100 Active 10 DOM
7. 2026-05-21
   listed $21,100 Active

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,928
• − Mortgage interest: −$1,171
• − Property taxes: −$314
• − Insurance: −$104
• − Repairs & maintenance: −$1,594
• − Management: −$1,594
• − Depreciation: −$608
• Taxable income: $14,543
• Est. tax owed @ 24.0%: −$3,490
• After-tax cash flow: $10,520/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: Clearview Local
• NCES district ID: 3904813
• Math proficiency: 21% ▼ -29.00%
• Reading proficiency: 44% ▼ -13.00%
• Median HH income: $31,733
• Composite: 26.44/100
• National rank: #7219
• State rank: #574 of 656 in OH

Livability — Lorain

• Score: 67/100
• State rank: #595
• US rank: #10183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 20,043
• Household income: $40,636
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1140.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 24% Black 14%
• Hispanic origin (detail): Mexican 7% Puerto Rican 27%
• Common ancestry: Romanian 5% Slovak 1%
• Foreign-born: 4% · Canada, Guatemala
• Languages at home: 75% English-only · Spanish 23%

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: ▼ -79.26%
• Current HPI: 180.9309
• 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

• 2026-05-21 Listed $21,100 MLSNOW

Property tax history

+5.6%/yr

Latest (2025): $2,203 · +0.5% YoY. Source: county tax records.