11 Meadowlawn Dr #1 · Mentor, OH 44060

$185,000

3 bd · 2.5 ba · 1,428 sqft · Condo public records · 5 Days on market

Built 1963 $251/mo HOA · 15% of rent

---

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 +10.1/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Rent growth +3.9/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This elegant 3 bdrm, 2.5 bath property has exceptional location, pond views, and lots of natural light. Enter into a two-story foyer with a gorgeous curved wooden staircase. Sun-filled living room boasts a wood burning fireplace and expansive bay window (installed in 2021). A formal dining room, powder/laundry room, and a large kitchen with cherry cabinetry, double wall oven, extra lighting, and lovely ceramic tile, complete the first floor. Upstairs you'll find 3 charming bedrooms with hardwood floors. Master bedroom includes an in suite bathroom with double-sink vanity and a secret (!) sizable storage room. NEW master bathtub shower, enclosure, sinks. Climate control in pretty much every room. Wall AC in bedrooms, with cold air naturally reaching the first floor. Facing East, it doesn't get overheated in Summer. Numerous NEW thermostats including full bathrooms. Lots of closets and storage options. NEW light fixtures on the 1st floor. Highly desirable wooden floors, including stairs and handrails were restored in Dec 2021. The driveway is shared with just 1 neighbor. Entire condo has been freshly painted, and is ready for you to move in. Meadowlawn condominiums offer care-free living, with many amenities including summer pool, bonfire, playground, a basketball field, pond, walking trails, and are pet friendly. Walking distance to shopping and restaurants, 15 min drive to a famous Headlands Beach. (All property information is provided by the owner and not guaranteed).

Key facts

• Bonfire area
• In ground pool
• Pet friendly

Tags

• IN GROUND POOL
• PLAYGROUND
• BONFIRE AREA
• HALF BASKETBALL COURT
• WALKING TRAILS
• PET FRIENDLY

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (10.4% below list).
• Recommended offer: $166k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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); 266 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 $1k of loan paydown is wiped out by about $6k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 28y 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 $148k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $165,706 (10.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• GRM: 9.3

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: -17.3%
• Equity multiple: 0.37×
• Total profit: $-32,450
• Equity at exit: $27,584

10-year hold

• IRR: -4.7%
• Equity multiple: 0.65×
• Total profit: $-17,953
• Equity at exit: $15,995

Cash invested: $51,800 (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 44060

• Rents YoY: 5.5%
• Active inventory: 266
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$120 /mo · $1,435/yr
• Insurance: −$77
• HOA: −$251
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-109

Break-even live

Break-even rent $1,795

Max offer price $165,794

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-56	+0% $-109	+5% $-161	+10% $-213
Rent	-10% $-240	-5% $-174	+0% $-109	+5% $-43	+10% $22
Rate	-1.0pp $-16	-0.5pp $-62	base $-109	+0.5pp $-157	+1.0pp $-205

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: $46,250
• Closing costs: $5,550
• 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	0.09mi
7155 Hart St Mentor, OH	2.0–3.0	1.5	1150	$1,550	$1.35	2d	2	0.75mi

HOA detail condo

• Monthly dues: $251 · $3,012/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-04-06
   status Pending
2. 2026-04-01
   listed $185,000 Active
3. 2022-03-22
   soldstatus $148,500
4. 2022-03-18
   soldstatus $148,500 Closed 1493-char remark

   Show marketing remark (1493 chars)

   This elegant 3 bdrm, 2.5 bath property has exceptional location, pond views, and lots of natural light. Enter into a two-story foyer with a gorgeous curved wooden staircase. Sun-filled living room boasts a wood burning fireplace and expansive bay window (installed in 2021). A formal dining room, powder/laundry room, and a large kitchen with cherry cabinetry, double wall oven, extra lighting, and lovely ceramic tile, complete the first floor. Upstairs you'll find 3 charming bedrooms with hardwood floors. Master bedroom includes an in suite bathroom with double-sink vanity and a secret (!) sizable storage room. NEW master bathtub shower, enclosure, sinks. Climate control in pretty much every room. Wall AC in bedrooms, with cold air naturally reaching the first floor. Facing East, it doesn't get overheated in Summer. Numerous NEW thermostats including full bathrooms. Lots of closets and storage options. NEW light fixtures on the 1st floor. Highly desirable wooden floors, including stairs and handrails were restored in Dec 2021. The driveway is shared with just 1 neighbor. Entire condo has been freshly painted, and is ready for you to move in. Meadowlawn condominiums offer care-free living, with many amenities including summer pool, bonfire, playground, a basketball field, pond, walking trails, and are pet friendly. Walking distance to shopping and restaurants, 15 min drive to a famous Headlands Beach. (All property information is provided by the owner and not guaranteed).

5. 2022-02-14
   status Pending 1493-char remark

   Show marketing remark (1493 chars)

   This elegant 3 bdrm, 2.5 bath property has exceptional location, pond views, and lots of natural light. Enter into a two-story foyer with a gorgeous curved wooden staircase. Sun-filled living room boasts a wood burning fireplace and expansive bay window (installed in 2021). A formal dining room, powder/laundry room, and a large kitchen with cherry cabinetry, double wall oven, extra lighting, and lovely ceramic tile, complete the first floor. Upstairs you'll find 3 charming bedrooms with hardwood floors. Master bedroom includes an in suite bathroom with double-sink vanity and a secret (!) sizable storage room. NEW master bathtub shower, enclosure, sinks. Climate control in pretty much every room. Wall AC in bedrooms, with cold air naturally reaching the first floor. Facing East, it doesn't get overheated in Summer. Numerous NEW thermostats including full bathrooms. Lots of closets and storage options. NEW light fixtures on the 1st floor. Highly desirable wooden floors, including stairs and handrails were restored in Dec 2021. The driveway is shared with just 1 neighbor. Entire condo has been freshly painted, and is ready for you to move in. Meadowlawn condominiums offer care-free living, with many amenities including summer pool, bonfire, playground, a basketball field, pond, walking trails, and are pet friendly. Walking distance to shopping and restaurants, 15 min drive to a famous Headlands Beach. (All property information is provided by the owner and not guaranteed).

6. 2022-01-24
   historical Contingent 1493-char remark

   Show marketing remark (1493 chars)

   This elegant 3 bdrm, 2.5 bath property has exceptional location, pond views, and lots of natural light. Enter into a two-story foyer with a gorgeous curved wooden staircase. Sun-filled living room boasts a wood burning fireplace and expansive bay window (installed in 2021). A formal dining room, powder/laundry room, and a large kitchen with cherry cabinetry, double wall oven, extra lighting, and lovely ceramic tile, complete the first floor. Upstairs you'll find 3 charming bedrooms with hardwood floors. Master bedroom includes an in suite bathroom with double-sink vanity and a secret (!) sizable storage room. NEW master bathtub shower, enclosure, sinks. Climate control in pretty much every room. Wall AC in bedrooms, with cold air naturally reaching the first floor. Facing East, it doesn't get overheated in Summer. Numerous NEW thermostats including full bathrooms. Lots of closets and storage options. NEW light fixtures on the 1st floor. Highly desirable wooden floors, including stairs and handrails were restored in Dec 2021. The driveway is shared with just 1 neighbor. Entire condo has been freshly painted, and is ready for you to move in. Meadowlawn condominiums offer care-free living, with many amenities including summer pool, bonfire, playground, a basketball field, pond, walking trails, and are pet friendly. Walking distance to shopping and restaurants, 15 min drive to a famous Headlands Beach. (All property information is provided by the owner and not guaranteed).

7. 2022-01-17
   listed $150,000 Active 1493-char remark

   Show marketing remark (1493 chars)

   This elegant 3 bdrm, 2.5 bath property has exceptional location, pond views, and lots of natural light. Enter into a two-story foyer with a gorgeous curved wooden staircase. Sun-filled living room boasts a wood burning fireplace and expansive bay window (installed in 2021). A formal dining room, powder/laundry room, and a large kitchen with cherry cabinetry, double wall oven, extra lighting, and lovely ceramic tile, complete the first floor. Upstairs you'll find 3 charming bedrooms with hardwood floors. Master bedroom includes an in suite bathroom with double-sink vanity and a secret (!) sizable storage room. NEW master bathtub shower, enclosure, sinks. Climate control in pretty much every room. Wall AC in bedrooms, with cold air naturally reaching the first floor. Facing East, it doesn't get overheated in Summer. Numerous NEW thermostats including full bathrooms. Lots of closets and storage options. NEW light fixtures on the 1st floor. Highly desirable wooden floors, including stairs and handrails were restored in Dec 2021. The driveway is shared with just 1 neighbor. Entire condo has been freshly painted, and is ready for you to move in. Meadowlawn condominiums offer care-free living, with many amenities including summer pool, bonfire, playground, a basketball field, pond, walking trails, and are pet friendly. Walking distance to shopping and restaurants, 15 min drive to a famous Headlands Beach. (All property information is provided by the owner and not guaranteed).

8. 2002-06-14
   soldstatus $105,000
9. 1999-01-08
   soldstatus $86,000
10. 1998-12-31
    historical
11. 1998-09-15
    listed $87,900
12. 1998-09-04
    historical
13. 1998-05-04
    listed $92,500
14. 1991-10-18
    soldstatus $75,000
15. 1986-09-17
    soldstatus $52,000

ⓘ 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: $1,435 · $120/mo
• Projected year-2 tax: $2,160 · $180/mo
• Expected delta: +$726/yr (+$60/mo · 50.6%)

ⓘ 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 ≥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: $19,885
• − Mortgage interest: −$10,363
• − Property taxes: −$1,435
• − Insurance: −$925
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − HOA: −$3,012
• − Depreciation: −$5,382
• Taxable loss: −$4,413
• Est. tax savings @ 24.0%: +$1,059
• After-tax cash flow: $-245/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

+255.8% since first listed

15 events — show timeline

• 2026-04-06 Pending — MLSNOW
• 2026-04-01 Listed $185,000 MLSNOW
• 2022-03-22 Sold (Public Records) $148,500 Public Records
• 2022-03-18 Sold (MLS) $148,500 MLSNOW
• 2022-02-14 Pending — MLSNOW
• 2022-01-24 Contingent — MLSNOW
• 2022-01-17 Listed $150,000 MLSNOW
• 2002-06-14 Sold (Public Records) $105,000 Public Records
• 1999-01-08 Sold (MLS) $86,000 MLSNOW
• 1998-12-31 Listing Removed — MLSNOW
• 1998-09-15 Listed $87,900 MLSNOW
• 1998-09-04 Listing Removed — MLSNOW
• 1998-05-04 Listed $92,500 MLSNOW
• 1991-10-18 Sold (Public Records) $75,000 Public Records
• 1986-09-17 Sold (Public Records) $52,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $1,435 · -2.5% YoY. Source: county tax records.