1038 W 11th St · Lorain, OH 44052

$135,000

3 bd · 1.0 ba · 1,172 sqft · SingleFamily public records · 18 Days on market

Built 1900 2,178 sqft lot Est $135k · at est.

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Why this score? — see what drove the C- 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 +21.0/30.0
• ARV discount +7.4/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready 3-bedroom Colonial in Lorain! This charming home blends classic character with modern updates, featuring beautiful original oak woodwork throughout. Enjoy new luxury vinyl plank flooring and fresh carpet that create a clean, updated feel. The updated kitchen offers functionality and style, while the spacious layout provides comfortable everyday living. A walk-up attic adds excellent potential for additional living space or storage, and the large basement offers even more room for storage or hobbies. Outside, you’ll find a generous backyard perfect for relaxing or entertaining. Don’t miss this well-maintained home ready for its next owner!

Key facts

• Large basement
• Updated kitchen
• Walk-up attic

Tags

• ORIGINAL OAK WOODWORK
• LUXURY VINYL PLANK FLOORING
• UPDATED KITCHEN
• WALK-UP ATTIC
• LARGE BASEMENT
• GENEROUS BACKYARD

Property features AI

Exterior

• Parking: Paved parking; no garage
• Utilities: Public water; Public sewer
• Home design: Two-story house; Faces south
• Construction: Aluminum siding and brick exterior; Asphalt/fiberglass roof
• Exterior features: Front porch

Interior

• Kitchen: Range
• Bedrooms: Two bedrooms on the second floor
• Bathrooms: One full bathroom (on second floor)
• Heating & cooling: Forced-air heating (gas)
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (2.9% below list).
• Recommended offer: $131k (2.9% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 5.7% 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: amenities D, health & safety D, crime F.
• Lorain City (suburban): math 13% / reading 26% proficiency, ranked #633 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Admiral King Elementary School (math 17% / reading 27%, grade F, #1,242 of 1,584 statewide, top 80%, 239 students, 0% FRL); General Johnnie Wilson Middle School (math 14% / reading 24%, grade F, #614 of 654 statewide, top 94%, 472 students, 0% FRL); Lorain High School (math 17% / reading 34%, grade F, #638 of 781 statewide, top 82%, 1,722 students, 0% FRL) — zoned schools average 0% FRL vs 80% district-wide (80 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 135 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).
• This rent runs 35% of the median local income ($45k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $73k; list at $135k implies a 85% 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 $131,113 (2.9% 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. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $134,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1038 W 11th St	0.00mi	3/1.0	1,172 (0%)	1mo	$135,000	$115	99
1035 W 12th St	0.09mi	3/1.0	1,152 (-2%)	3mo	$125,000	$109	91
1202 Oberlin Ave	0.24mi	3/1.5	1,157 (-1%)	1mo	$134,500	$116	84
1128 W 11th St	0.13mi	3/1.0	1,258 (+7%)	4mo	$120,700	$96	78
1935 Hamilton Ave	0.49mi	3/1.0	1,160 (-1%)	3mo	$165,000	$142	73
1725 Washington Ave	0.34mi	2/1.0 (-1)	1,127 (-4%)	3mo	$136,900	$121	70
1140 W 5th St	0.43mi	3/1.0	1,121 (-4%)	4mo	$127,000	$113	70
1150 W 10th St	0.19mi	3/2.0	1,312 (+12%)	0mo	$175,000	$133	67
1218 W 9th St	0.29mi	3/1.0	1,316 (+12%)	4mo	$55,000	$42	63
1323 W 20th St	0.64mi	3/1.0	1,199 (+2%)	5mo	$124,000	$103	62
1134 W 19th St	0.46mi	3/1.5	1,068 (-9%)	2mo	$160,000	$150	60
1332 W 18th St	0.51mi	2/1.0 (-1)	1,002 (-14%)	6mo	$108,000	$108	42

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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-8,303
• Equity at exit: $20,129

10-year hold

• IRR: 4.9%
• Equity multiple: 1.38×
• Total profit: $14,379
• Equity at exit: $11,672

Cash invested: $37,800 (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 44052

• Home prices YoY: -28.1%
• Rents YoY: 4.1%
• Active inventory: 135
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,311 high
• Mortgage (P&I): −$708
• Tax from tax record: −$81 /mo · $969/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $191

Break-even live

Break-even rent $1,070

Max offer price $135,000

Occupancy floor 80%

Sensitivity live

Price	-10% $267	-5% $229	+0% $191	+5% $153	+10% $114
Rent	-10% $87	-5% $139	+0% $191	+5% $243	+10% $294
Rate	-1.0pp $259	-0.5pp $225	base $191	+0.5pp $156	+1.0pp $120

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1055 W 12th St Lorain, OH	4.0	1.0	1206	$1,750	$1.45	25d	1	0.09mi
1053 Washington Ave Unit 4 Lorain, OH	3.0	1.0	1000	$899	$0.90	45d	1	0.12mi
1031 W 9th St Lorain, OH	2.0	1.0	854	$895	$1.05	25d	1	0.12mi
420 W 12th St Lorain, OH	3.0	1.0	1204	$1,650	$1.37	5d	1	0.35mi
930 W 18th St Lorain, OH	4.0	1.0	1344	$1,450	$1.08	45d	1	0.37mi
1421 Long Ave Lorain, OH	2.0	1.0	719	$1,140	$1.59	45d	1	0.41mi
521 W 14th St Lorain, OH	3.0	1.0	968	$950	$0.98	45d	1	0.44mi
1028 W 5th St Lorain, OH	3.0	2.0	1250	$1,650	$1.32	45d	1	0.45mi
1223 W 5th St Lorain, OH	3.0	2.0	1152	$1,150	$1.00	14d	1	0.47mi
1703 Oakdale Ave Lorain, OH	3.0	1.0	1237	$1,300	$1.05	4d	1	0.49mi
1220 W 19th St Lorain, OH	4.0	1.0	1492	$1,550	$1.04	25d	1	0.49mi
1239 W 5th St Unit 1 Lorain, OH	3.0	1.0	1200	$1,100	$0.92	25d	1	0.50mi
1724 Lexington Ave Lorain, OH	3.0	1.0	1150	$1,215	$1.06	25d	1	0.58mi
1220 W Erie Ave Lorain, OH	2.0	2.0	1458	$1,050	$0.72	3d	1	0.59mi
704 W 21st St Lorain, OH	4.0	1.0	1410	$1,450	$1.03	25d	1	0.66mi
939 W 22nd St Lorain, OH	3.0	1.0	950	$1,295	$1.36	45d	1	0.66mi
1712 W 12th St Lorain, OH	3.0	1.0	996	$1,295	$1.30	25d	1	0.67mi
2307 Washington Ave Lorain, OH	1.0–3.0	1.0	880	$1,499	$1.70	3d	1	0.76mi
944 S Central Dr Lorain, OH	3.0	1.0	950	$1,250	$1.32	25d	1	0.88mi
942 S Central Dr Lorain, OH	2.0	1.0	850	$1,000	$1.18	25d	1	0.88mi
938 S Central Dr Lorain, OH	2.0	1.0	850	$950	$1.12	45d	1	0.89mi
128 W 22nd St Lorain, OH	3.0	1.0	1402	$1,470	$1.05	45d	1	0.91mi
509 W 24th St Lorain, OH	2.0	1.0	1036	$1,400	$1.35	45d	1	0.92mi
860 Colorado Ave Lorain, OH	2.0	1.0	825	$1,225	$1.48	45d	1	1.07mi
2349 Elyria Ave Unit 2 Lorain, OH	2.0	1.0	800	$925	$1.16	45d	1	1.19mi
336 W 29th St Lorain, OH	3.0	1.0	1440	$1,350	$0.94	45d	1	1.20mi
810 E Erie Ave #4 Lorain, OH	2.0	1.0	1200	$895	$0.75	45d	1	1.23mi
2550 Elyria Ave Unit 2 Lorain, OH	3.0	1.0	765	$1,200	$1.57	9d	1	1.28mi
2715 Apple Ave Lorain, OH	3.0	1.0	1240	$1,311	$1.06	45d	1	1.29mi
2809 W Erie Ave Lorain, OH	1.0–2.0	1.0	800	$1,049	$1.31	3d	1	1.31mi
117 W 30th St Lorain, OH	2.0	1.0	1344	$925	$0.69	45d	1	1.36mi

Listing history 9 events

1. 2026-04-23
   status Pending
2. 2026-04-22
   price $135,000
3. 2026-04-09
   status Active
4. 2026-04-02
   listed $140,000 Active
5. 2023-09-15
   soldstatus $73,000
6. 2012-11-15
   historical
7. 2011-11-15
   listed $35,000
8. 1986-10-01
   soldstatus $34,000
9. 1986-10-01
   soldstatus $38,000

ⓘ 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: $969 · $81/mo
• Projected year-2 tax: $1,538 · $128/mo
• Expected delta: +$568/yr (+$47/mo · 58.6%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,734
• − Mortgage interest: −$7,562
• − Property taxes: −$969
• − Insurance: −$675
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$3,927
• Taxable income: $83
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $2,270/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: Lorain City
• NCES district ID: 3904426
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $32,823
• Composite: 15.81/100
• National rank: #9266
• State rank: #633 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

• Census place: Lorain, OH
• County: Lorain County · 219,437 people
• City population: 69,409
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 28,282
• Household income: $45,023
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1423.0

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 0.66)
• Race & ethnicity: White 49% Hispanic / Latino 24% Black 21% Two or more races 16%
• Hispanic origin (detail): Mexican 5% Puerto Rican 17%
• Common ancestry: Romanian 6% Lithuanian 1% Iranian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14%

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: ▼ -73.23%
• Current HPI: 186.9657
• Rent YoY: ▲ 4.09%
• 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

+297.1% since first listed

9 events — show timeline

• 2026-04-23 Pending — MLSNOW
• 2026-04-22 Price Changed $135,000 MLSNOW
• 2026-04-09 Relisted — MLSNOW
• 2026-04-02 Listed $140,000 MLSNOW
• 2023-09-15 Sold (Public Records) $73,000 Public Records
• 2012-11-15 Listing Removed — MLSNOW
• 2011-11-15 Listed $35,000 MLSNOW
• 1986-10-01 Sold (Public Records) $38,000 Public Records
• 1986-10-01 Sold (Public Records) $34,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $969 · -4.9% YoY. Source: county tax records.