2885 Pease Dr #103 · Rocky River, OH 44116

$114,900

1 bd · 1.0 ba · 693 sqft · Condo public records · 25 Days on market

Built 1964 $166/sqft · 10% below area Est $127k · 10% under $284/mo HOA · 25% of rent

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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).

• ARV discount +11.8/15.0
• Cash flow +7.5/30.0
• Schools +7.4/10.0
• 1% rule +5.0/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this beautifully updated first floor access condo in the heart of Rocky River, with easy access to I-90 and tons of shopping! This ranch concept condo has a gorgeous eat in kitchen with freshly painted kitchen cabinets and new hard wood flooring. Enter into the living room to enjoy your fireplace and new hard wood flooring, which is ready for when its time to cozy right in. Then head down the hall to the carpeted bedroom with a large walk in closet for all your additional bedroom storage. Storage unit also comes with condo for any additional storage that is needed. Laundry facilities are directly across the hall from your unit. Pole garage for inside parking and Laundry, all accessible from first floor as well. You will also find an exercise room on the first floor, beautiful in ground pool and community room for you to be able to have and enjoy your very own group get together events. This home is cheaper than renting, and very low maintenance. This is a great opportunity to make this property yours! Call and schedule your private showing today!

Key facts

• Functional design
• Courtyard setting
• Community amenities

Tags

• COZY FIREPLACE
• LVP FLOORING
• FUNCTIONAL DESIGN
• COMMUNITY AMENITIES
• COURTYARD SETTING
• FITNESS AREA

Property features AI

Finance

• Financial info: Pets: Cats allowed
• HOA & community: Monthly association fee of $284; Association covers management, gas, heat, insurance, grounds and structure maintenance, parking, reserve fund, snow removal, trash and water; Community amenities include fitness center, laundry facilities, and pool

Exterior

• Parking: Assigned garage and outside parking; One garage space
• Utilities: Public water; Public sewer
• Home design: One-story unit in a three-story building; Entry level: 1
• Construction: Brick construction; Asphalt/fiberglass roof; Built per public records
• Exterior features: Private in-ground pool (association / community access); Property is attached; Faces west; Slab foundation

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: One main-level bedroom
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating; Gas heating; Fireplace(s) heat source
• Interior features: Gas fireplace in the living room (one fireplace)
• Laundry & utility: Common area laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (21.6% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $90k (21.6% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 2.1% in Rocky River — 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 89/100 on livability (#9 in OH, #112 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Rocky River City (suburban): math 84% / reading 89% proficiency, ranked #26 of 656 in OH (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Kensington Intermediate Elementary School (math 88% / reading 88%, grade A+, #34 of 1,584 statewide, top 2%, 596 students, 13% FRL); Rocky River Middle School (math 81% / reading 89%, grade A+, #17 of 654 statewide, top 3%, 575 students, 10% FRL); Rocky River High School (math 82% / reading 91%, grade A, #8 of 781 statewide, top 1%, 855 students, 13% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: 116 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent is only 15% of the median local income ($94k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $90,056 (21.6% 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 1964 — 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: 1.00% ✓
• Cap rate: 4.82%
• Cash-on-cash: -5.25%
• DSCR: 0.77
• GRM: 8.3

CMA / ARV

• ARV (median comp): $127,192
• List price: $114,900
• Delta: -9.66%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -25.0%
• Equity multiple: 0.15×
• Total profit: $-27,401
• Equity at exit: $17,132

10-year hold

• IRR: -20.3%
• Equity multiple: -0.08×
• Total profit: $-34,686
• Equity at exit: $9,934

Cash invested: $32,172 (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 44116

• Active inventory: 116
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,150 high
• Mortgage (P&I): −$603
• Tax from tax record: −$115 /mo · $1,381/yr
• Insurance: −$48
• HOA: −$284
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-141

Break-even live

Break-even rent $1,328

Max offer price $90,056

Occupancy floor —

Sensitivity live

Price	-10% $-76	-5% $-108	+0% $-141	+5% $-173	+10% $-206
Rent	-10% $-232	-5% $-186	+0% $-141	+5% $-95	+10% $-50
Rate	-1.0pp $-83	-0.5pp $-111	base $-141	+0.5pp $-170	+1.0pp $-201

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22081 River Oaks Dr Unit B8 Rocky River, OH	1.0	1.0	726	$1,245	$1.71	6d	1	0.38mi
22081 River Oaks Dr Rocky River, OH	1.0	1.0	726	$1,198	$1.65	19d	2	0.40mi
3303 Linden Rd Rocky River, OH	2.0	1.0–1.5	645	$1,374	$2.13	3d	17	0.57mi
22603 Center Ridge Rd Rocky River, OH	1.0–3.0	1.0–2.5	2190	$1,895	$0.87	3d	23	0.77mi
19875 Center Ridge Rd Rocky River, OH	1.0	1.0	678	$1,772	$2.61	3d	9	0.77mi
20602 Lorain Rd Unit B8 Fairview Park, OH	1.0	1.0	500	$795	$1.59	45d	1	1.04mi
20602 Lorain Rd Fairview Park, OH	1.0	1.0	500	$750	$1.50	14d	1	1.04mi
20602 Lorain Rd Fairview Park, OH	1.0	1.0	500	$750	$1.50	16d	1	1.04mi
20600 Lorain Rd Cleveland, OH	1.0	1.0	500	$750	$1.50	6d	3	1.06mi
20550 Detroit Rd Apt 6 Rocky River, OH	1.0	1.0	725	$1,025	$1.41	5d	1	1.09mi
20550 Detroit Rd Unit 8 Rocky River, OH	1.0	1.0	725	$1,080	$1.49	23d	1	1.09mi
20123 Lorain Rd Cleveland, OH	1.0–2.0	1.0–2.0	820	$920	$1.12	3d	1	1.16mi
19740 Lorain Rd Fairview Park, OH	1.0–2.0	1.0	800	$1,099	$1.37	18d	2	1.17mi
18963 Hilliard Blvd Unit 2 Rocky River, OH	1.0	1.0	750	$1,150	$1.53	22d	1	1.42mi
680 Smith Ct Rocky River, OH	1.0–2.0	1.0	640	$1,000	$1.56	9d	6	1.49mi

HOA detail condo

• Monthly dues: $284 · $3,408/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $114,900 Active 25 DOM
2. 2026-06-18
   days on market $114,900 Active 22 DOM
3. 2026-06-17
   days on market $114,900 Active 21 DOM
4. 2026-06-16
   days on market $114,900 Active 20 DOM
5. 2026-06-15
   days on market $114,900 Active 19 DOM
6. 2026-06-13
   days on market $114,900 Active 17 DOM
7. 2026-06-13
   days on market $114,900 Active 16 DOM
8. 2026-06-09
   days on market $114,900 Active 13 DOM
9. 2026-06-08
   days on market $114,900 Active 12 DOM
10. 2026-06-07
    days on market $114,900 Active 11 DOM
11. 2026-06-05
    days on market $114,900 Active 8 DOM
12. 2026-06-03
    days on market $114,900 Active 7 DOM
13. 2026-06-02
    days on market $114,900 Active 6 DOM
14. 2026-06-01
    days on market $114,900 Active 5 DOM
15. 2026-05-31
    days on market $114,900 Active 4 DOM
16. 2026-04-30
    listed $114,900 Active 1268-char remark
17. 2025-02-19
    soldstatus $108,000
18. 2020-03-27
    soldstatus $51,000 Closed 1072-char remark

    Show marketing remark (1072 chars)

    Check out this beautifully updated first floor access condo in the heart of Rocky River, with easy access to I-90 and tons of shopping! This ranch concept condo has a gorgeous eat in kitchen with freshly painted kitchen cabinets and new hard wood flooring. Enter into the living room to enjoy your fireplace and new hard wood flooring, which is ready for when its time to cozy right in. Then head down the hall to the carpeted bedroom with a large walk in closet for all your additional bedroom storage. Storage unit also comes with condo for any additional storage that is needed. Laundry facilities are directly across the hall from your unit. Pole garage for inside parking and Laundry, all accessible from first floor as well. You will also find an exercise room on the first floor, beautiful in ground pool and community room for you to be able to have and enjoy your very own group get together events. This home is cheaper than renting, and very low maintenance. This is a great opportunity to make this property yours! Call and schedule your private showing today!

19. 2020-03-27
    soldstatus $51,000

    Show marketing remark (1072 chars)

    Check out this beautifully updated first floor access condo in the heart of Rocky River, with easy access to I-90 and tons of shopping! This ranch concept condo has a gorgeous eat in kitchen with freshly painted kitchen cabinets and new hard wood flooring. Enter into the living room to enjoy your fireplace and new hard wood flooring, which is ready for when its time to cozy right in. Then head down the hall to the carpeted bedroom with a large walk in closet for all your additional bedroom storage. Storage unit also comes with condo for any additional storage that is needed. Laundry facilities are directly across the hall from your unit. Pole garage for inside parking and Laundry, all accessible from first floor as well. You will also find an exercise room on the first floor, beautiful in ground pool and community room for you to be able to have and enjoy your very own group get together events. This home is cheaper than renting, and very low maintenance. This is a great opportunity to make this property yours! Call and schedule your private showing today!

20. 2020-03-12
    status Pending 1072-char remark

    Show marketing remark (1072 chars)

    Check out this beautifully updated first floor access condo in the heart of Rocky River, with easy access to I-90 and tons of shopping! This ranch concept condo has a gorgeous eat in kitchen with freshly painted kitchen cabinets and new hard wood flooring. Enter into the living room to enjoy your fireplace and new hard wood flooring, which is ready for when its time to cozy right in. Then head down the hall to the carpeted bedroom with a large walk in closet for all your additional bedroom storage. Storage unit also comes with condo for any additional storage that is needed. Laundry facilities are directly across the hall from your unit. Pole garage for inside parking and Laundry, all accessible from first floor as well. You will also find an exercise room on the first floor, beautiful in ground pool and community room for you to be able to have and enjoy your very own group get together events. This home is cheaper than renting, and very low maintenance. This is a great opportunity to make this property yours! Call and schedule your private showing today!

21. 2020-03-10
    listed $49,900 Active 1072-char remark

    Show marketing remark (1072 chars)

    Check out this beautifully updated first floor access condo in the heart of Rocky River, with easy access to I-90 and tons of shopping! This ranch concept condo has a gorgeous eat in kitchen with freshly painted kitchen cabinets and new hard wood flooring. Enter into the living room to enjoy your fireplace and new hard wood flooring, which is ready for when its time to cozy right in. Then head down the hall to the carpeted bedroom with a large walk in closet for all your additional bedroom storage. Storage unit also comes with condo for any additional storage that is needed. Laundry facilities are directly across the hall from your unit. Pole garage for inside parking and Laundry, all accessible from first floor as well. You will also find an exercise room on the first floor, beautiful in ground pool and community room for you to be able to have and enjoy your very own group get together events. This home is cheaper than renting, and very low maintenance. This is a great opportunity to make this property yours! Call and schedule your private showing today!

22. 1987-01-28
    soldstatus $35,000

ⓘ 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: $1,381 · $115/mo
• Projected year-2 tax: $1,587 · $132/mo
• Expected delta: +$206/yr (+$17/mo · 14.9%)

ⓘ 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
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $13,805
• − Mortgage interest: −$6,436
• − Property taxes: −$1,381
• − Insurance: −$574
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − HOA: −$3,408
• − Depreciation: −$3,343
• Taxable loss: −$3,545
• Est. tax savings @ 24.0%: +$851
• After-tax cash flow: $-837/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: Rocky River City
• NCES district ID: 3904470
• Math proficiency: 84% ▼ -8.00%
• Reading proficiency: 89% ▼ -2.00%
• Median HH income: $64,592
• Composite: 74.43/100
• National rank: #159
• State rank: #26 of 656 in OH

Livability — Rocky River

• Score: 89/100
• State rank: #9
• US rank: #112

Category grades

Amenities A+ 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: Rocky River, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 21,532
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 21,532
• Household income: $93,799
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 795.0

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: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Asian 2% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 6% Lithuanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Other Indo-European 5% Arabic 3% Russian/Polish/Slavic 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: ▼ -180.15%
• Current HPI: 228.2256
• Rent YoY: —
• 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

+228.3% since first listed

9 events — show timeline

• 2026-05-27 Listed $114,900 MLSNOW
• 2026-05-20 Listing Removed — MLSNOW
• 2026-04-30 Listed $114,900 MLSNOW
• 2025-02-19 Sold (Public Records) $108,000 Public Records
• 2020-03-27 Sold (Public Records) $51,000 Public Records
• 2020-03-27 Sold (MLS) $51,000 MLSNOW
• 2020-03-12 Pending — MLSNOW
• 2020-03-10 Listed $49,900 MLSNOW
• 1987-01-28 Sold (Public Records) $35,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,381 · -0.3% YoY. Source: county tax records.