Real Estate Investing in Painesville, Ohio (44045)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 44045 (Painesville, OH)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Painesville, OH (44045)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 44045 Painesville
ZIP 44045 inside Lake County looks affordable on the surface — median value of $225K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 44045 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 44045 among OH's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 44045 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 44045 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Painesville:
Market Trends
Home Value History (with trend line)
📊 How Does 44045 Compare?
| Metric | 44045 | Painesville | Cleveland-Elyria, OH | Ohio |
|---|---|---|---|---|
| Home Value | $225,351 | $243,912 | N/A | $237,530 |
| 5-Year CAGR | 5.4% | 5.5% | N/A | 7.4% |
| Avg Rent | $1,026 | $1,212 | N/A | - |
| Cap Rate | 3.6% | 3.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 44045 (Painesville, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $225,351 |
| Monthly Rent | $1,026 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +8.8% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 44045
Population: 564
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Investor Insight: With 2,179 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Painesville, OH?
Homes in Painesville, OH typically sell near $225K. Prices have moved at a 0.0% 5-year CAGR, which predictable long-term demand.
Does house hacking work in Painesville, OH?
House hacking works a challenging in Painesville, OH. Rents of $1,026/mo against $225K acquisition make the strategy solid for owner-occupants.
What is the typical renter like in Painesville, OH?
Painesville, OH offers a measured renter base at the $1,026/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is rental property easy to operate in Painesville, OH?
The landlord environment in Painesville, OH is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How much rent can I charge in Painesville, OH?
Rents in Painesville, OH run near $1,026/mo. Compared with median home prices of $225K that produces solid gross yields for typical rentals.
You know 44045 now. You don’t know where it ranks.
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How 44045 ranks in Cleveland-Elyria, OH
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