99 Ellenwood Ave · Bedford, OH 44146

$240,000

5 bd · 2.0 ba · 2,494 sqft · MultiFamily public records · 59 Days on market

Built 1922 7,000 sqft lot $96/sqft · 15% above area Est $209k · 15% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Welcome to this fully occupied triplex in the Bedford neighborhood featuring 5 bedrooms, 3 bathrooms in total with a nice 3-car garage! The exterior has a wide driveway, vinyl windows, vinyl siding, a large front porch, new storm doors and more. The front unit (1/1) is rented for $875/month through 1/31/2026, The back (1/1) at $550/month through 2/28/2026 and the top (3/1) at $1,050/month on a month to month lease. The mechanicals in the basement are in great shape including a recent new furnace. Come check out 99 Ellenwood in Bedford today!

Key facts

• Vinyl windows
• Large front porch
• Bedford neighborhood

Tags

• TRIPLEX
• BEDFORD NEIGHBORHOOD
• WIDE DRIVEWAY
• VINYL WINDOWS
• VINYL SIDING
• LARGE FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/2.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $717/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 5.4% in Bedford — 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 73/100 on livability (#324 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Bedford City (suburban): math 19% / reading 32% proficiency, ranked #597 of 656 in OH (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.8%/yr); 105 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $5,000/mo this rent would consume 109% of the median local household income ($55k/yr) (locally 1314% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Cuyahoga County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $67k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $198k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.08% ✓
• Cap rate: 17.05%
• Cash-on-cash: 38.41%
• DSCR: 2.71
• GRM: 4.0

CMA / ARV

• ARV (median comp): $209,155
• List price: $240,000
• Delta: 14.75%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Ellenwood Ave	0.15mi	6/2.0 (+1)	2,442 (-2%)	12mo	$150,000	$61	74
162 Grand Blvd	0.39mi	4/2.0 (-1)	2,436 (-2%)	16mo	$190,000	$78	59
679-681 Washington St	0.56mi	6/2.5 (+1)	2,330 (-7%)	11mo	$218,000	$94	46
317 Center Rd	0.25mi	4/4.0 (-1)	2,256 (-10%)	24mo	$235,000	$104	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.83% rent growth · sell at horizon

5-year hold

• IRR: 37.9%
• Equity multiple: 2.68×
• Total profit: $112,923
• Equity at exit: $35,785

10-year hold

• IRR: 45.8%
• Equity multiple: 6.05×
• Total profit: $339,081
• Equity at exit: $20,751

Cash invested: $67,200 (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 44146

• Rents YoY: 5.8%
• Active inventory: 105
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $5,000 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$440 /mo · $5,282/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $2,151

Break-even live

Break-even rent $2,277

Max offer price $240,000

Occupancy floor 52%

Sensitivity live

Price	-10% $2,287	-5% $2,219	+0% $2,151	+5% $2,083	+10% $2,015
Rent	-10% $1,756	-5% $1,954	+0% $2,151	+5% $2,349	+10% $2,546
Rate	-1.0pp $2,272	-0.5pp $2,212	base $2,151	+0.5pp $2,089	+1.0pp $2,026

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	2	$5,001
Total (3 units)			$5,000

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20609 Hillgrove Ave Maple Heights, OH	4.0	2.0	1776	$1,497	$0.84	16d	1	1.43mi

Listing history 13 events

1. 2026-06-01
   days on market $240,000 Active 59 DOM
2. 2026-05-31
   days on market $240,000 Active 58 DOM
3. 2026-04-25
   status Active 547-char remark

   Show marketing remark (547 chars)

   Welcome to this fully occupied triplex in the Bedford neighborhood featuring 5 bedrooms, 3 bathrooms in total with a nice 3-car garage! The exterior has a wide driveway, vinyl windows, vinyl siding, a large front porch, new storm doors and more. The front unit (1/1) is rented for $875/month through 1/31/2026, The back (1/1) at $550/month through 2/28/2026 and the top (3/1) at $1,050/month on a month to month lease. The mechanicals in the basement are in great shape including a recent new furnace. Come check out 99 Ellenwood in Bedford today!

4. 2026-01-06
   listed $240,000 Active 547-char remark

   Show marketing remark (547 chars)

   Welcome to this fully occupied triplex in the Bedford neighborhood featuring 5 bedrooms, 3 bathrooms in total with a nice 3-car garage! The exterior has a wide driveway, vinyl windows, vinyl siding, a large front porch, new storm doors and more. The front unit (1/1) is rented for $875/month through 1/31/2026, The back (1/1) at $550/month through 2/28/2026 and the top (3/1) at $1,050/month on a month to month lease. The mechanicals in the basement are in great shape including a recent new furnace. Come check out 99 Ellenwood in Bedford today!

5. 2022-06-30
   soldstatus $197,500 Closed 860-char remark

   Show marketing remark (860 chars)

   Rare Bedford Triplex located right across the street from the Ellenwood Recreation Center with two large porches overlooking the park! Updates to the property include new roof in 2019, new downspouts, gutters and drainage in 2019, new furnace in 2020, new hot water tank in 2020, new washer and dryer for tenants to use in 2020, new fridge in top unit in 2020, and a new garage roof in 2021. The bottom left unit is completely renovated, new kitchen with tile backsplash and butcher block countertops, updated bathroom with new vanity, toilet, and shower, new vinyl flooring through out the unit, new trim, freshly painted, and all new appliances done this year. The other two units are in good condition, but can definitely be updated to increase value, both units have long term tenants. Attic could also be completed into a potential fourth bedroom or unit.

6. 2022-06-30
   soldstatus $200,000

   Show marketing remark (860 chars)

   Rare Bedford Triplex located right across the street from the Ellenwood Recreation Center with two large porches overlooking the park! Updates to the property include new roof in 2019, new downspouts, gutters and drainage in 2019, new furnace in 2020, new hot water tank in 2020, new washer and dryer for tenants to use in 2020, new fridge in top unit in 2020, and a new garage roof in 2021. The bottom left unit is completely renovated, new kitchen with tile backsplash and butcher block countertops, updated bathroom with new vanity, toilet, and shower, new vinyl flooring through out the unit, new trim, freshly painted, and all new appliances done this year. The other two units are in good condition, but can definitely be updated to increase value, both units have long term tenants. Attic could also be completed into a potential fourth bedroom or unit.

7. 2022-04-28
   status Pending 860-char remark

   Show marketing remark (860 chars)

   Rare Bedford Triplex located right across the street from the Ellenwood Recreation Center with two large porches overlooking the park! Updates to the property include new roof in 2019, new downspouts, gutters and drainage in 2019, new furnace in 2020, new hot water tank in 2020, new washer and dryer for tenants to use in 2020, new fridge in top unit in 2020, and a new garage roof in 2021. The bottom left unit is completely renovated, new kitchen with tile backsplash and butcher block countertops, updated bathroom with new vanity, toilet, and shower, new vinyl flooring through out the unit, new trim, freshly painted, and all new appliances done this year. The other two units are in good condition, but can definitely be updated to increase value, both units have long term tenants. Attic could also be completed into a potential fourth bedroom or unit.

8. 2022-04-22
   listed $195,000 Active 860-char remark

   Show marketing remark (860 chars)

   Rare Bedford Triplex located right across the street from the Ellenwood Recreation Center with two large porches overlooking the park! Updates to the property include new roof in 2019, new downspouts, gutters and drainage in 2019, new furnace in 2020, new hot water tank in 2020, new washer and dryer for tenants to use in 2020, new fridge in top unit in 2020, and a new garage roof in 2021. The bottom left unit is completely renovated, new kitchen with tile backsplash and butcher block countertops, updated bathroom with new vanity, toilet, and shower, new vinyl flooring through out the unit, new trim, freshly painted, and all new appliances done this year. The other two units are in good condition, but can definitely be updated to increase value, both units have long term tenants. Attic could also be completed into a potential fourth bedroom or unit.

9. 2020-01-31
   soldstatus $65,335 Closed
10. 2020-01-31
    soldstatus $65,335
11. 2019-12-10
    status Pending
12. 2019-11-23
    listed $92,900 Active
13. 1976-05-01
    soldstatus $45,000

ⓘ 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: $5,282 · $440/mo
• Projected year-2 tax: $5,282 · $440/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 ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,000
• − Mortgage interest: −$13,444
• − Property taxes: −$5,282
• − Insurance: −$1,200
• − Repairs & maintenance: −$4,800
• − Management: −$4,800
• − Depreciation: −$6,982
• Taxable income: $23,492
• Est. tax owed @ 24.0%: −$5,638
• After-tax cash flow: $20,176/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: Bedford City
• NCES district ID: 3910017
• Math proficiency: 19% ▼ -23.00%
• Reading proficiency: 32% ▼ -16.00%
• Median HH income: $42,353
• Composite: 21.69/100
• National rank: #8273
• State rank: #597 of 656 in OH

Livability — Bedford

• Score: 73/100
• State rank: #324
• US rank: #5334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 29,349
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 29,349
• Household income: $54,925
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 1314.0

Population outlook (Cuyahoga County) Hauer SSP2

• Today (2025): 1,244,621 people
• By 2030: 1,230,093 · -1.2%
• By 2040: 1,189,108 · -4.5%
• By 2050: 1,145,706 · -7.9%
• By 2075: 1,076,557 · -13.5%
• By 2100: 978,987 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (59%)
• Race & ethnicity: Black 59% White 33% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Serbian 1% Armenian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Cuyahoga

• 2024 margin: Solid D (+31.5) · D 65.4% · R 33.9%
• 2008→2024 swing: -7.4pp toward R · 2008: 38.9pp · 2024: 31.5pp
• All cycles: 2024: D+31.5 2020: D+34.1 2016: D+35.0 2012: D+38.7 2008: D+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.08%
• Current HPI: 172.9421
• Rent YoY: ▲ 5.83%
• 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

+433.3% since first listed

11 events — show timeline

• 2026-04-25 Relisted — MLSNOW
• 2026-01-06 Listed $240,000 MLSNOW
• 2022-06-30 Sold (Public Records) $200,000 Public Records
• 2022-06-30 Sold (MLS) $197,500 MLSNOW
• 2022-04-28 Pending — MLSNOW
• 2022-04-22 Listed $195,000 MLSNOW
• 2020-01-31 Sold (Public Records) $65,335 Public Records
• 2020-01-31 Sold (MLS) $65,335 MLSNOW
• 2019-12-10 Pending — MLSNOW
• 2019-11-23 Listed $92,900 MLSNOW
• 1976-05-01 Sold (Public Records) $45,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $5,282 · +2.6% YoY. Source: county tax records.