556 Greenside Dr · Painesville, OH 44077

$125,000

3 bd · 2.0 ba · 1,532 sqft · SingleFamily public records · 3 Days on market

Built 1995 0.25 ac lot

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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 +24.4/30.0
• DSCR +7.9/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

Key facts

• Wooded lot
• Large living room
• Separate family room

Tags

• LARGE LIVING ROOM
• SEPARATE FAMILY ROOM
• DEDICATED DINING AREA
• EAT-IN KITCHEN LAYOUT
• FIRST-FLOOR LAUNDRY
• WOODED LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 8.7% vs local median 3.4% in Painesville — 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 72/100 on livability (#360 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.
• Riverside Local (suburban): math 58% / reading 67% proficiency, ranked #217 of 656 in OH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.7%/yr); 273 active listings in the ZIP; 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 $864 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.
• 7 sale attempts since 31y 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; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.

Recommended offer $125,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.28% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.67%
• DSCR: 1.39
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,940
• Equity at exit: $18,638

10-year hold

• IRR: 8.4%
• Equity multiple: 1.66×
• Total profit: $23,200
• Equity at exit: $10,808

Cash invested: $35,000 (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 44077

• Rents YoY: 3.7%
• Active inventory: 273
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,594 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$299 /mo · $3,585/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $253

Break-even live

Break-even rent $1,274

Max offer price $125,000

Occupancy floor 79%

Sensitivity live

Price	-10% $324	-5% $288	+0% $253	+5% $217	+10% $182
Rent	-10% $127	-5% $190	+0% $253	+5% $316	+10% $379
Rate	-1.0pp $316	-0.5pp $285	base $253	+0.5pp $220	+1.0pp $188

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-04-24
   status Pending
2. 2026-04-21
   listed $125,000 Active
3. 2024-05-22
   status Pending
4. 2024-05-22
   historical
5. 2024-05-16
   status Active
6. 2024-05-16
   price $129,400
7. 2024-02-17
   status Pending
8. 2024-02-14
   listed $110,000 Active
9. 2016-11-22
   soldstatus $107,000 Sold 344-char remark

   Show marketing remark (344 chars)

   THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

10. 2016-09-19
    status Pending 344-char remark

    Show marketing remark (344 chars)

    THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

11. 2016-09-13
    historical Contingent 344-char remark

    Show marketing remark (344 chars)

    THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

12. 2016-08-31
    price $109,000 344-char remark

    Show marketing remark (344 chars)

    THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

13. 2016-08-29
    status Active 344-char remark

    Show marketing remark (344 chars)

    THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

14. 2016-08-26
    status Pending 344-char remark

    Show marketing remark (344 chars)

    THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

15. 2016-08-16
    historical Contingent 344-char remark

    Show marketing remark (344 chars)

    THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

16. 2016-07-18
    price $124,500 344-char remark

    Show marketing remark (344 chars)

    THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

17. 2016-06-21
    listed $132,500 Active 344-char remark

    Show marketing remark (344 chars)

    THIS IS A FANNIE MAE HOMEPATH PROPERTY. NEWLY UPDATED SPLIT RANCH. THREE BEDROOMS AND TWO FULL BATHROOMS, ATTACHED TWO CAR GARAGE, GENEROUS ROOM SIZES, OPEN KITCHEN WITH OAK CABINETS, NEWER CARPETING AND INTERIOR PAINT, SLIDER LEADS TO DECK WHICH OVERLOOKS THE WOODED BACKYARD. VAULTED CEILING WITH SKYLIGHTS MAKE THIS A BRIGHT AND OPEN DESIGN.

18. 2008-04-17
    soldstatus $135,500
19. 2008-04-15
    soldstatus $135,500
20. 2008-01-28
    listed $144,900
21. 1995-06-07
    soldstatus $107,719
22. 1995-02-24
    listed $103,700

ⓘ 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: $3,585 · $299/mo
• Projected year-2 tax: $3,585 · $299/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,128
• − Mortgage interest: −$7,002
• − Property taxes: −$3,585
• − Insurance: −$625
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − Depreciation: −$3,636
• Taxable income: $1,219
• Est. tax owed @ 24.0%: −$292
• After-tax cash flow: $2,742/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: Riverside Local
• NCES district ID: 3910014
• Math proficiency: 58% ▼ -15.00%
• Reading proficiency: 67% ▼ -7.00%
• Median HH income: $69,717
• Composite: 55.0/100
• National rank: #1297
• State rank: #217 of 656 in OH

Livability — Painesville

• Score: 72/100
• State rank: #360
• US rank: #5785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 204,927 people
• City population: 57,325
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 57,325
• Household income: $85,056
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1333.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 7% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -183.05%
• Current HPI: 181.2976
• Rent YoY: ▲ 3.68%
• 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

+20.5% since first listed

22 events — show timeline

• 2026-04-24 Pending — MLSNOW
• 2026-04-21 Listed $125,000 MLSNOW
• 2024-05-22 Pending — MLSNOW
• 2024-05-22 Listing Removed — MLSNOW
• 2024-05-16 Relisted — MLSNOW
• 2024-05-16 Price Changed $129,400 MLSNOW
• 2024-02-17 Pending — MLSNOW
• 2024-02-14 Listed $110,000 MLSNOW
• 2016-11-22 Sold (MLS) $107,000 MLSNOW
• 2016-09-19 Pending — MLSNOW
• 2016-09-13 Contingent — MLSNOW
• 2016-08-31 Price Changed $109,000 MLSNOW
• 2016-08-29 Relisted — MLSNOW
• 2016-08-26 Pending — MLSNOW
• 2016-08-16 Contingent — MLSNOW
• 2016-07-18 Price Changed $124,500 MLSNOW
• 2016-06-21 Listed $132,500 MLSNOW
• 2008-04-17 Sold (MLS) $135,500 MLSNOW
• 2008-04-15 Sold (Public Records) $135,500 Public Records
• 2008-01-28 Listed $144,900 MLSNOW
• 1995-06-07 Sold (MLS) $107,719 MLSNOW
• 1995-02-24 Listed $103,700 MLSNOW

Property tax history

+4.3%/yr

Latest (2025): $3,585 · +30.0% YoY. Source: county tax records.