980 E 347th St · Eastlake, OH 44095

$219,900

4 bd · 1.5 ba · 1,352 sqft · SingleFamily public records · 9 Days on market

Built 1970 5,662 sqft lot Est $218k · at est.

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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 +14.3/30.0
• ARV discount +7.0/15.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• 1% rule +4.0/10.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready 4 bedroom 1.5 bath Colonial with rare fireplace and granite countertops in kitchen. Updated kitchen and full bath also has fully fenced in back yard. This home is conveniently located near North High School & Longfellow Elementary. Per the city it is POS compliant.

Key facts

• Brand new roof
• Fenced in backyard
• Privacy fence

Tags

• GRANITE COUNTERTOPS
• FENCED IN BACKYARD
• PRIVACY FENCE
• 2 1/2 CAR GARAGE
• WOOD BURNING FIREPLACE
• BRAND NEW ROOF

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2 stories; Slab foundation
• Construction: Aluminum siding; Asbestos shingle roof; Built per public records
• Exterior features: Privacy wood fencing; Lot faces east

Interior

• Kitchen: Range; Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: Total rooms: 9
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Wood-burning fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $38 ($460/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 $197k (10.2% below list).
• Recommended offer: $197k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.7% in Eastlake — 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 68/100 on livability (#550 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment D+, amenities F, commute F.
• Willoughby-Eastlake City (suburban): math 42% / reading 58% proficiency, ranked #434 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Longfellow Elementary School (math 42% / reading 47%, grade F, #991 of 1,584 statewide, top 64%, 450 students, 52% FRL); Willowick Middle School (math 35% / reading 57%, grade D+, #464 of 654 statewide, top 71%, 455 students, 48% FRL); North High School (math 19% / reading 67%, grade F, #494 of 781 statewide, top 63%, 1,216 students, 38% FRL) — zoned schools average 46% FRL vs 30% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($72k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 32y 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 $165k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $197,378 (10.2% below list)

Questions for the listing agent

1. Built in 1970 — 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. Schools are B-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?
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: 0.90% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.75%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $217,672
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
988 E 348th St	0.05mi	4/1.5	1,352 (0%)	5mo	$205,000	$152	94
1259 E 351 St	0.49mi	3/2.0 (-1)	1,332 (-2%)	1mo	$145,000	$109	67
1284 E 348th St	0.50mi	3/1.5 (-1)	1,300 (-4%)	1mo	$243,000	$187	65
33661 Kenilworth Rd	0.70mi	4/2.0	1,339 (-1%)	1mo	$215,000	$161	63
35477 Hobbie Dr	0.34mi	3/2.5 (-1)	1,270 (-6%)	3mo	$207,500	$163	63
1297 E 351st St	0.55mi	3/1.5 (-1)	1,424 (+5%)	2mo	$225,000	$158	59
959 E 332nd St	0.73mi	3/1.5 (-1)	1,325 (-2%)	4mo	$180,000	$136	55
34046 Sylvia Dr	0.72mi	3/2.0 (-1)	1,240 (-8%)	1mo	$169,900	$137	45
36001 Freed Ct	0.53mi	3/2.5 (-1)	1,192 (-12%)	3mo	$265,000	$222	44
847 Audrey Dr	0.51mi	3/2.0 (-1)	1,170 (-14%)	3mo	$262,650	$224	44
1313 Waverly Rd	0.68mi	3/1.0 (-1)	1,500 (+11%)	2mo	$179,900	$120	41
1295 E 357th St	0.68mi	4/3.0	1,517 (+12%)	2mo	$270,000	$178	40

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 · 4.81% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.52×
• Total profit: $-29,501
• Equity at exit: $32,788

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-6,837
• Equity at exit: $19,013

Cash invested: $61,572 (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 44095

• Rents YoY: 4.8%
• Active inventory: 132
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,974 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$276 /mo · $3,314/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $38

Break-even live

Break-even rent $1,925

Max offer price $219,900

Occupancy floor 93%

Sensitivity live

Price	-10% $163	-5% $101	+0% $38	+5% $-24	+10% $-86
Rent	-10% $-118	-5% $-40	+0% $38	+5% $116	+10% $194
Rate	-1.0pp $149	-0.5pp $94	base $38	+0.5pp $-19	+1.0pp $-77

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1323 E 360th St Eastlake, OH	3.0	1.0	1036	$1,599	$1.54	18d	1	0.76mi

Listing history 7 events

1. 2026-06-21
   days on market $219,900 Active 9 DOM
2. 2026-06-18
   days on market $219,900 Active 6 DOM
3. 2026-06-17
   days on market $219,900 Active 5 DOM
4. 2026-06-16
   days on market $219,900 Active 4 DOM
5. 2026-06-15
   days on market $219,900 Active 3 DOM
6. 2026-06-13
   remarks 691-char remark
7. 2026-06-13
   listed $219,900 Active 1 DOM

ⓘ 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: $3,314 · $276/mo
• Projected year-2 tax: $3,372 · $281/mo
• Expected delta: +$58/yr (+$5/mo · 1.8%)

ⓘ 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 ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,685
• − Mortgage interest: −$12,318
• − Property taxes: −$3,314
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$6,397
• Taxable loss: −$3,232
• Est. tax savings @ 24.0%: +$776
• After-tax cash flow: $1,236/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: Willoughby-Eastlake City
• NCES district ID: 3904510
• Math proficiency: 42% ▼ -21.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $52,500
• Composite: 42.96/100
• National rank: #3110
• State rank: #434 of 656 in OH

Livability — Eastlake

• Score: 68/100
• State rank: #550
• US rank: #9388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastlake, OH
• County: Lake County · 204,927 people
• City population: 32,363
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 32,363
• Household income: $71,543
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 590.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Russian/Polish/Slavic 3% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.78%
• Current HPI: 171.8121
• Rent YoY: ▲ 4.81%
• 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

+292.7% since first listed

28 events — show timeline

• 2026-06-12 Listed $219,900 MLSNOW
• 2022-12-15 Sold (MLS) $165,000 MLSNOW
• 2022-12-01 Pending — MLSNOW
• 2022-11-18 Contingent — MLSNOW
• 2022-11-10 Price Changed $164,500 MLSNOW
• 2022-10-14 Price Changed $165,000 MLSNOW
• 2022-09-23 Price Changed $170,000 MLSNOW
• 2022-09-08 Price Changed $174,000 MLSNOW
• 2022-08-18 Listed $179,000 MLSNOW
• 2018-07-17 Pending — MLSNOW
• 2018-07-17 Sold (Public Records) $121,000 Public Records
• 2018-07-17 Sold (MLS) $121,000 MLSNOW
• 2018-06-10 Contingent — MLSNOW
• 2018-06-05 Price Changed $117,500 MLSNOW
• 2018-05-22 Listed $125,000 MLSNOW
• 2015-03-20 Sold (MLS) $59,900 MLSNOW
• 2015-02-04 Listing Removed — MLSNOW
• 2014-08-13 Listed $59,900 MLSNOW
• 2013-05-31 Listing Removed — MLSNOW
• 2012-12-01 Listed $100,000 MLSNOW
• 2012-11-18 Listing Removed — MLSNOW
• 2011-11-19 Listed $100,000 MLSNOW
• 1994-12-13 Sold (Public Records) $87,500 Public Records
• 1994-12-13 Sold (Public Records) $87,500 Public Records
• 1994-12-13 Sold (MLS) $87,500 MLSNOW
• 1994-08-08 Listed $87,900 MLSNOW
• 1985-11-14 Sold (Public Records) $56,000 Public Records
• 1985-11-14 Sold (Public Records) $56,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $3,314 · +0.3% YoY. Source: county tax records.