ZIP CODE 44035 // CLEVELAND-ELYRIA, OH // DATA AS OF 2026-09-30
Elyria, OH (44035) Rental Property Cap Rate & Cash Flow Report
Located in Lorain County (Elyria, OH), Zip Code 44035 ranks #20 of 500 within this selected sample (96th percentile) with a Zillow ZHVI typical home-value index of $187,718 (+4.7% YoY) and a ZORI observed market rent of $1,380/mo (+6.1% YoY). Requires at least 22.5% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$30/mo
Annual: -$362/yr
Modeled Cap Rate
5.87%
NOI: $11,028/yr
Cash-on-Cash Return
-0.84%
Cash Needed: $43,175
1% Rule Ratio
0.74%
Gross Yield: 8.82%
Break-Even Rent
$1,415/mo
State Tax: 1.30%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 44035 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (OH Avg 1.30%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$949/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$461/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (44035)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2022 | $156,627 | $1,151/mo | 8.82% |
| 2023 | $160,404 | $1,190/mo | 8.90% |
| 2024 | $173,377 | $1,267/mo | 8.77% |
| 2025 | $179,208 | $1,301/mo | 8.71% |
| 2026 | $187,718 | $1,380/mo | 8.82% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 44060 Mentor, OH | $277,851 | $1,683/mo | 4.52% | -$358/mo |
| 43228 Columbus, OH | $218,961 | $1,277/mo | 4.29% | -$325/mo |
| 43055 Newark, OH | $249,856 | $1,420/mo | 4.13% | -$403/mo |
| 44256 Medina, OH | $381,694 | $1,929/mo | 3.48% | -$824/mo |
| 45011 Hamilton, OH | $370,767 | $1,831/mo | 3.36% | -$838/mo |
| 43123 Grove City, OH | $330,582 | $1,556/mo | 3.11% | -$814/mo |