7294 Foxmill Rd Unit 19D · Mentor, OH 44060

$120,000

2 bd · 1.0 ba · 920 sqft · Condo public records · 3 Days on market

Built 1972 $260/mo HOA · 18% of rent

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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 +20.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +6.4/10.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sharp, move in ready townhome condo * Spacious living room with newer carpeting, a large bay window and lots of natural lighting * Dining room with newer carpeting * Kitchen with breakfast bar * 2 generously sized bedrooms with new carpet (2025) * Conveniently located laundry includes washer and dryer * Oversized garage with extra storage and ample visitor parking adjacent to unit * Low maintenance fee includes water * Private entrance into this centrally located quiet community * Super convenient location to shopping, dining, schools, medical, parks and entertainment * Schedule a showing today!

Key facts

• Open dining area
• Large living room
• Private entry

Tags

• PRIVATE ENTRY
• LARGE LIVING ROOM
• COZY WINDOW SEAT
• OPEN DINING AREA
• FULLY EQUIPPED KITCHEN
• NEW DISHWASHER

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Monthly association fee of $260; Association covers management, insurance, ground and structure maintenance, snow removal, and trash

Exterior

• Parking: 1-car garage; Garage faces front; Garage door opener
• Utilities: Public water; Public sewer
• Home design: 2-story building; Entry level is 1
• Construction: Aluminum siding; Asphalt/fiberglass roof; Block and slab foundation; Built (year source: public records)
• Exterior features: Property is attached

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (gas)
• Interior features: Ceiling fan(s); Open floor plan
• Laundry & utility: Washer; Dryer; Laundry located inside (in bathroom on upper level)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 7.8% vs local median 3.7% in Mentor — 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 84/100 on livability (#53 in OH, #739 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, cost of living A+; Watch: amenities D, commute F.
• Mentor Exempted Village (suburban): math 58% / reading 70% proficiency, ranked #201 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.5%/yr); 264 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.46%
• DSCR: 1.24
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-5,842
• Equity at exit: $17,892

10-year hold

• IRR: 8.3%
• Equity multiple: 1.72×
• Total profit: $24,125
• Equity at exit: $10,375

Cash invested: $33,600 (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 44060

• Rents YoY: 5.5%
• Active inventory: 264
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,431 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$50
• HOA: −$260
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $153

Break-even live

Break-even rent $1,237

Max offer price $120,000

Occupancy floor 84%

Sensitivity live

Price	-10% $221	-5% $187	+0% $153	+5% $119	+10% $85
Rent	-10% $40	-5% $96	+0% $153	+5% $209	+10% $266
Rate	-1.0pp $213	-0.5pp $183	base $153	+0.5pp $122	+1.0pp $90

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Meadowlawn Dr #11 Mentor, OH	2.0	1.0	1100	$1,350	$1.23	2d	1	0.13mi
7155 Hart St Mentor, OH	2.0–3.0	1.5	1150	$1,325	$1.15	2d	2	0.86mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-08
   statusdays on market $120,000 Pending 3 DOM
2. 2026-06-07
   remarks 699-char remark
3. 2026-06-07
   listed $120,000 Active 2 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: $460 · $38/mo
• Projected year-2 tax: $1,166 · $97/mo
• Expected delta: +$706/yr (+$59/mo · 153.7%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,173
• − Mortgage interest: −$6,722
• − Property taxes: −$460
• − Insurance: −$600
• − Repairs & maintenance: −$1,374
• − Management: −$1,374
• − HOA: −$3,120
• − Depreciation: −$3,491
• Taxable income: $33
• Est. tax owed @ 24.0%: −$8
• After-tax cash flow: $1,827/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: Mentor Exempted Village
• NCES district ID: 3904549
• Math proficiency: 58% ▼ -17.00%
• Reading proficiency: 70% ▼ -9.00%
• Median HH income: $64,267
• Composite: 55.71/100
• National rank: #1221
• State rank: #201 of 656 in OH

Livability — Mentor

• Score: 84/100
• State rank: #53
• US rank: #739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mentor, OH
• County: Lake County · 204,927 people
• City population: 60,779
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 60,779
• Household income: $87,599
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 883.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 7% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 93% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 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: ▼ -203.36%
• Current HPI: 188.9887
• Rent YoY: ▲ 5.54%
• 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

+93.5% since first listed

8 events — show timeline

• 2026-06-04 Listed $120,000 MLSNOW
• 2025-04-30 Pending — MLSNOW
• 2025-04-30 Sold (MLS) $112,900 MLSNOW
• 2025-04-15 Sold (Public Records) $112,900 Public Records
• 2025-03-12 Contingent — MLSNOW
• 2025-03-04 Price Changed $112,900 MLSNOW
• 2025-02-07 Listed $119,900 MLSNOW
• 1996-07-12 Sold (Public Records) $62,000 Public Records

Property tax history

-7.2%/yr

Latest (2025): $460 · -49.9% YoY. Source: county tax records.