1153 Gulf Rd · Elyria, OH 44035

$149,900

3 bd · 1.0 ba · 1,297 sqft · SingleFamily public records · 22 Days on market

Built 1967 8,712 sqft lot Est $220k · 32% under

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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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.7/10.0
• 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 MLS

Excellent Buy In Spring Valley Area. Immediate Occupancy. Huge Deck In Fenced Back Yard. Newer High Efficiency Furnace, Roof & Windows. Super Insulated. Partially Finished Basement With Rec Room & Bar. Convenient Location To Mall & Interstates.

Key facts

• Shed
• Large covered deck
• Fenced in yard

Tags

• UPDATED EAT-IN KITCHEN
• LARGE COVERED DECK
• FULL UNFINISHED BASEMENT
• FENCED IN YARD
• SHED

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home; Faces west; Entry level: main
• Construction: Vinyl siding; Asphalt/fiberglass roof; Block foundation; Built per assessor records
• Exterior features: Covered porch; Deck; City lot; Lot measures approximately 69 x 130

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Full unfinished basement; 6 total rooms; Fixer condition
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $159 ($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 $146k (2.6% below list).
• Recommended offer: $146k (2.6% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.8% 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); 356 active listings in the ZIP; 4 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).
• This rent runs 31% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 30y 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 $107k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $145,974 (2.6% below list)

Questions for the listing agent

1. Built in 1967 — 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. 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.
4. 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.
5. 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: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $220,490
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
335 Canterbury Ct	0.36mi	3/1.5	1,320 (+2%)	7mo	$225,000	$170	73
129 Whitman Blvd	0.14mi	3/1.5	1,208 (-7%)	10mo	$240,000	$199	72
145 Whitman Blvd	0.17mi	3/1.0	1,160 (-11%)	8mo	$189,000	$163	68
220 Windsor Dr	0.31mi	4/1.5 (+1)	1,384 (+7%)	4mo	$231,000	$167	64
220 Alexander Dr	0.50mi	2/2.0 (-1)	1,380 (+6%)	1mo	$235,000	$170	56
1073 Rosealee Ave	0.65mi	3/2.5	1,395 (+8%)	2mo	$245,000	$176	50
224 Alexander Dr	0.50mi	2/2.0 (-1)	1,380 (+6%)	12mo	$249,900	$181	47
821 Hollywood Dr	0.61mi	3/1.5	1,435 (+11%)	6mo	$220,000	$153	47
201 Alexander Dr	0.50mi	2/2.0 (-1)	1,421 (+10%)	9mo	$245,000	$172	44
205 Alexander Dr	0.50mi	2/2.0 (-1)	1,421 (+10%)	9mo	$239,900	$169	44
842 Hollywood Blvd	0.72mi	3/1.5	1,405 (+8%)	10mo	$209,900	$149	43
771 Finwood Ct	0.70mi	4/1.5 (+1)	1,394 (+8%)	12mo	$223,000	$160	38

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: -5.2%
• Equity multiple: 0.80×
• Total profit: $-8,467
• Equity at exit: $22,351

10-year hold

• IRR: 8.3%
• Equity multiple: 1.74×
• Total profit: $30,914
• Equity at exit: $12,961

Cash invested: $41,972 (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: 356
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,460 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$146 /mo · $1,748/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $159

Break-even live

Break-even rent $1,258

Max offer price $149,900

Occupancy floor 84%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
820 Rosewood Dr Elyria, OH	1.0–3.0	1.0–1.5	766	$1,325	$1.73	1d	1	0.79mi
438 Loyola Dr Elyria, OH	3.0	1.5	1722	$1,795	$1.04	43d	1	0.97mi
689 Lucille Dr Elyria, OH	3.0	1.0	1225	$1,425	$1.16	1d	1	1.09mi
327 Beebe Ave Elyria, OH	3.0	1.0	976	$1,650	$1.69	16d	1	1.40mi

Listing history 27 events

1. 2026-06-19
   status $149,900 Pending 22 DOM
2. 2026-06-18
   days on market $149,900 Active 22 DOM
3. 2026-06-17
   days on market $149,900 Active 21 DOM
4. 2026-06-16
   days on market $149,900 Active 20 DOM
5. 2026-06-15
   days on market $149,900 Active 19 DOM
6. 2026-06-13
   days on market $149,900 Active 17 DOM
7. 2026-06-13
   days on market $149,900 Active 16 DOM
8. 2026-06-09
   days on market $149,900 Active 13 DOM
9. 2026-06-08
   days on market $149,900 Active 12 DOM
10. 2026-06-07
    days on market $149,900 Active 11 DOM
11. 2026-06-03
    days on market $149,900 Active 7 DOM
12. 2026-06-02
    days on market $149,900 Active 6 DOM
13. 2026-06-01
    days on market $149,900 Active 5 DOM
14. 2026-05-31
    days on market $149,900 Active 4 DOM
15. 2026-05-26
    listed $149,900 Active
16. 2023-08-28
    historical
17. 2023-07-16
    price $189,000
18. 2023-07-09
    listed $199,000 Active
19. 1999-03-18
    soldstatus $107,000 262-char remark

    Show marketing remark (262 chars)

    Excellent Buy In Spring Valley Area. Immediate Occupancy. Huge Deck In Fenced Back Yard. Newer High Efficiency Furnace, Roof & Windows. Super Insulated. Partially Finished Basement With Rec Room & Bar. Convenient Location To Mall & Interstates.

20. 1999-03-18
    soldstatus $107,000

    Show marketing remark (262 chars)

    Excellent Buy In Spring Valley Area. Immediate Occupancy. Huge Deck In Fenced Back Yard. Newer High Efficiency Furnace, Roof & Windows. Super Insulated. Partially Finished Basement With Rec Room & Bar. Convenient Location To Mall & Interstates.

21. 1999-01-04
    listed $109,900 262-char remark

    Show marketing remark (262 chars)

    Excellent Buy In Spring Valley Area. Immediate Occupancy. Huge Deck In Fenced Back Yard. Newer High Efficiency Furnace, Roof & Windows. Super Insulated. Partially Finished Basement With Rec Room & Bar. Convenient Location To Mall & Interstates.

22. 1998-07-28
    historical
23. 1997-07-29
    listed $114,900
24. 1997-07-25
    historical
25. 1997-06-09
    historical
26. 1997-04-24
    listed $122,900
27. 1996-12-19
    listed $124,900

ⓘ 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: $1,748 · $146/mo
• Projected year-2 tax: $2,043 · $170/mo
• Expected delta: +$295/yr (+$25/mo · 16.9%)

ⓘ 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 ≥99°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: $17,517
• − Mortgage interest: −$8,397
• − Property taxes: −$1,748
• − Insurance: −$750
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$4,361
• Taxable loss: −$540
• Est. tax savings @ 24.0%: +$130
• After-tax cash flow: $2,038/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

+20.0% since first listed

13 events — show timeline

• 2026-05-26 Listed $149,900 MLSNOW
• 2023-08-28 Listing Removed — MLSNOW
• 2023-07-16 Price Changed $189,000 MLSNOW
• 2023-07-09 Listed $199,000 MLSNOW
• 1999-03-18 Sold (Public Records) $107,000 Public Records
• 1999-03-18 Sold (MLS) $107,000 MLSNOW
• 1999-01-04 Listed $109,900 MLSNOW
• 1998-07-28 Listing Removed — MLSNOW
• 1997-07-29 Listed $114,900 MLSNOW
• 1997-07-25 Listing Removed — MLSNOW
• 1997-06-09 Listing Removed — MLSNOW
• 1997-04-24 Listed $122,900 MLSNOW
• 1996-12-19 Listed $124,900 MLSNOW

Property tax history

-0.4%/yr

Latest (2025): $1,748 · -23.2% YoY. Source: county tax records.