11850 Edgewater Dr #722 · Lakewood, OH 44107

$75,000

1 bd · 1.0 ba · 704 sqft · Condo public records · 15 Days on market

Built 1959 $620/mo HOA · 50% 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Cash flow +4.9/30.0
• Livability +4.4/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

POOL IS OPEN! Enjoy this Lakewood Goldcoast Condominium with a great pool, picnic area with grills, awesome roof-top deck, gym, party room, bike room, car-wash bay and many more amenities. This 1 bedroom, 1 bath unit is located on a high floor with great city views. It features hard flooring through-out, updated kitchen cabinets with dishwasher and microwave, tub surround, updated electrical panel and much more. This would make a great primary residence, vacation home or even a great income property. Included in the sale is a deeded garage space (#39). Be a part of the vibrant city of Lakewood and so close to Lakewood Park, Edgewater Park and Downtown. Don't miss this opportunity, schedule your showing today.

Key facts

• $620 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association (Lakehouse Condominium Owners Assoc.); Monthly association fee covers electricity, heat, water, sewer, trash and utilities; Community amenities include fitness center, pool and access to the lake; Public transportation access

Exterior

• Parking: Assigned parking; Heated garage with garage door opener (1-car); Paved parking; Electricity available at parking; Outside parking available
• Utilities: Public water; Public sewer
• Home design: Condominium, single-story; Entry level 7; Rubber roof; Brick construction
• Construction: Built (year from public records); Brick exterior; Rubber roof
• Exterior features: Patio; Lake Erie frontage / lakefront view; Private in-ground community pool; Has view

Interior

• Bedrooms: 1 main-level bedroom
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced-air gas heating
• Interior features: Elevator; Common basement
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $43k (42.6% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $43k (42.6% below list) — sets the bar for cash-flow.
• Cap rate 3.4% vs local median 2.6% in Lakewood — 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 88/100 on livability (#29 in OH, #249 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Lakewood City (suburban): math 60% / reading 71% proficiency, ranked #213 of 656 in OH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Emerson Elementary School (math 67% / reading 62%, grade B, #522 of 1,584 statewide, top 36%, 335 students, 38% FRL); Garfield Middle School (math 55% / reading 62%, grade B, #287 of 654 statewide, top 45%, 454 students, 45% FRL); Lakewood High School (math 32% / reading 64%, grade D, #429 of 781 statewide, top 55%, 1,382 students, 30% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 204 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 15 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 11 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.

Risks & watch-outs

• Watch-outs: HOA is 50% of rent; built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,033 (42.6% 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 1959 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.66% ✓
• Cap rate: 3.40%
• Cash-on-cash: -10.34%
• DSCR: 0.54
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.39% rent growth · sell at horizon

5-year hold

• IRR: -27.1%
• Equity multiple: 0.04×
• Total profit: $-20,192
• Equity at exit: $11,183

10-year hold

• IRR: -11.0%
• Equity multiple: 0.17×
• Total profit: $-17,500
• Equity at exit: $6,485

Cash invested: $21,000 (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 44107

• Rents YoY: 5.4%
• Active inventory: 204
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,247 high
• Mortgage (P&I): −$393
• Tax from tax record: −$121 /mo · $1,458/yr
• Insurance: −$31
• HOA: −$620
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-181

Break-even live

Break-even rent $1,476

Max offer price $43,033

Occupancy floor —

Sensitivity live

Price	-10% $-139	-5% $-160	+0% $-181	+5% $-202	+10% $-223
Rent	-10% $-279	-5% $-230	+0% $-181	+5% $-132	+10% $-82
Rate	-1.0pp $-143	-0.5pp $-162	base $-181	+0.5pp $-200	+1.0pp $-220

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11850 Edgewater Dr Lakewood, OH	1.0–2.0	1.0	784	$1,650	$2.10	9d	3	0.02mi
11900 Edgewater Dr Lakewood, OH	1.0	1.0	750	$1,492	$1.99	45d	1	0.07mi
12030 Lake Ave Lakewood, OH	2.0	1.0–2.0	1050	$1,380	$1.31	18d	1	0.09mi
11800 Edgewater Dr Lakewood, OH	3.0	1.0–2.0	1064	$1,392	$1.31	4d	10	0.11mi
11720 Edgewater Dr #310 Lakewood, OH	—	1.0	381	$1,050	$2.76	18d	1	0.15mi
12530 Lake Ave Lakewood, OH	1.0–2.0	1.0	790	$1,175	$1.49	18d	2	0.18mi
12228 Clifton Blvd Lakewood, OH	1.0	1.0	650	$965	$1.48	5d	1	0.19mi
12231 Clifton Blvd Lakewood, OH	1.0	1.0	579	$1,050	$1.81	18d	1	0.23mi
12231 Clifton Blvd Apt 21 Lakewood, OH	1.0	1.0	579	$1,050	$1.81	25d	1	0.23mi
12540 Edgewater Dr Lakewood, OH	2.0	1.0–2.0	929	$1,502	$1.62	5d	11	0.26mi
12511 Clifton Blvd Lakewood, OH	1.0	1.0	598	$1,050	$1.75	23d	3	0.26mi
11821 Detroit Ave Lakewood, OH	1.0	1.0	600	$1,050	$1.75	14d	2	0.51mi
12810 Detroit Ave Unit 10 Lakewood, OH	1.0	1.0	600	$1,100	$1.83	45d	1	0.54mi
1510 Newman Ave Lakewood, OH	1.0–2.0	1.0	660	$925	$1.40	18d	1	0.73mi
1548 Alameda Ave Lakewood, OH	1.0	1.0	650	$825	$1.27	9d	1	0.81mi
1609 Lakewood Ave Unit 4 Lakewood, OH	1.0	1.0	500	$800	$1.60	45d	1	0.89mi
1615 Newman Ave Lakewood, OH	1.0	1.0	550	$985	$1.79	9d	2	0.90mi
1622 Ridgewood Ave Lakewood, OH	2.0	1.0	700	$1,050	$1.50	45d	1	0.92mi
1385 Manor Park Ave Lakewood, OH	1.0	1.0	750	$1,100	$1.47	12d	1	1.12mi
13389 Madison Ave Unit 12 Lakewood, OH	1.0	1.0	600	$825	$1.38	45d	1	1.19mi
14650 Detroit Ave Lakewood, OH	1.0–2.0	1.0	780	$1,550	$1.99	25d	13	1.40mi
14650 Detroit Ave Unit 405 Lakewood, OH	1.0	1.0	745	$1,725	$2.32	25d	1	1.40mi
1685 Lincoln Ave Unit 9 Lakewood, OH	1.0	1.0	600	$1,000	$1.67	25d	1	1.49mi

HOA detail condo

• Monthly dues: $620 · $7,440/yr
• Likely covers: waterelectricpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-05-04
   listed $75,000 Active 994-char remark
2. 2026-05-02
   historical
3. 2026-03-09
   price $79,900
4. 2026-02-09
   price $84,900
5. 2025-11-02
   listed $89,000 Active
6. 2023-07-10
   soldstatus $65,000
7. 2023-07-08
   soldstatus $65,000 Closed

   Show marketing remark (718 chars)

   POOL IS OPEN! Enjoy this Lakewood Goldcoast Condominium with a great pool, picnic area with grills, awesome roof-top deck, gym, party room, bike room, car-wash bay and many more amenities. This 1 bedroom, 1 bath unit is located on a high floor with great city views. It features hard flooring through-out, updated kitchen cabinets with dishwasher and microwave, tub surround, updated electrical panel and much more. This would make a great primary residence, vacation home or even a great income property. Included in the sale is a deeded garage space (#39). Be a part of the vibrant city of Lakewood and so close to Lakewood Park, Edgewater Park and Downtown. Don't miss this opportunity, schedule your showing today.

8. 2023-06-29
   status Pending

   Show marketing remark (718 chars)

   POOL IS OPEN! Enjoy this Lakewood Goldcoast Condominium with a great pool, picnic area with grills, awesome roof-top deck, gym, party room, bike room, car-wash bay and many more amenities. This 1 bedroom, 1 bath unit is located on a high floor with great city views. It features hard flooring through-out, updated kitchen cabinets with dishwasher and microwave, tub surround, updated electrical panel and much more. This would make a great primary residence, vacation home or even a great income property. Included in the sale is a deeded garage space (#39). Be a part of the vibrant city of Lakewood and so close to Lakewood Park, Edgewater Park and Downtown. Don't miss this opportunity, schedule your showing today.

9. 2023-06-14
   historical Contingent

   Show marketing remark (718 chars)

   POOL IS OPEN! Enjoy this Lakewood Goldcoast Condominium with a great pool, picnic area with grills, awesome roof-top deck, gym, party room, bike room, car-wash bay and many more amenities. This 1 bedroom, 1 bath unit is located on a high floor with great city views. It features hard flooring through-out, updated kitchen cabinets with dishwasher and microwave, tub surround, updated electrical panel and much more. This would make a great primary residence, vacation home or even a great income property. Included in the sale is a deeded garage space (#39). Be a part of the vibrant city of Lakewood and so close to Lakewood Park, Edgewater Park and Downtown. Don't miss this opportunity, schedule your showing today.

10. 2023-05-30
    listed $69,900 Active

    Show marketing remark (718 chars)

    POOL IS OPEN! Enjoy this Lakewood Goldcoast Condominium with a great pool, picnic area with grills, awesome roof-top deck, gym, party room, bike room, car-wash bay and many more amenities. This 1 bedroom, 1 bath unit is located on a high floor with great city views. It features hard flooring through-out, updated kitchen cabinets with dishwasher and microwave, tub surround, updated electrical panel and much more. This would make a great primary residence, vacation home or even a great income property. Included in the sale is a deeded garage space (#39). Be a part of the vibrant city of Lakewood and so close to Lakewood Park, Edgewater Park and Downtown. Don't miss this opportunity, schedule your showing today.

11. 2020-04-18
    status Pending
12. 2020-04-17
    soldstatus $46,000 Closed
13. 2020-04-17
    soldstatus $46,000
14. 2020-03-17
    historical Contingent
15. 2020-02-19
    price $51,400
16. 2020-02-01
    price $51,900
17. 2020-01-09
    price $52,900
18. 2019-12-05
    price $54,900
19. 2019-12-05
    price $52,900
20. 2019-11-19
    listed $57,900 Active
21. 2014-06-19
    historical
22. 2013-12-18
    listed $28,000
23. 2011-11-23
    historical
24. 2010-11-24
    listed $44,500
25. 2008-09-29
    soldstatus $30,000
26. 2008-08-31
    historical
27. 2008-02-27
    listed $30,000
28. 2006-12-09
    historical
29. 2006-06-09
    listed $54,900
30. 2006-06-08
    historical
31. 2005-12-12
    listed $54,900
32. 2003-03-10
    soldstatus $48,000
33. 2003-03-06
    soldstatus $48,500
34. 2002-12-30
    listed $49,900
35. 1998-12-30
    soldstatus $36,000
36. 1998-12-24
    soldstatus $36,000
37. 1998-08-31
    listed $39,000
38. 1985-04-19
    soldstatus $43,100
39. 1985-04-19
    soldstatus $59,900
40. 1982-04-07
    soldstatus $57,500

ⓘ 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: $1,458 · $121/mo
• Projected year-2 tax: $1,458 · $121/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
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $14,963
• − Mortgage interest: −$4,201
• − Property taxes: −$1,458
• − Insurance: −$375
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − HOA: −$7,440
• − Depreciation: −$2,182
• Taxable loss: −$3,087
• Est. tax savings @ 24.0%: +$741
• After-tax cash flow: $-1,431/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: Lakewood City
• NCES district ID: 3904419
• Math proficiency: 60% ▼ -11.00%
• Reading proficiency: 71% ▼ -3.00%
• Median HH income: $45,181
• Composite: 55.13/100
• National rank: #1282
• State rank: #213 of 656 in OH

Livability — Lakewood

• Score: 88/100
• State rank: #29
• US rank: #249

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakewood, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 50,018
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 50,018
• Household income: $68,970
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 2271.0

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 (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 8% Lithuanian 2% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Arabic 3% Other Indo-European 2% Spanish 2%

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: ▼ -347.35%
• Current HPI: 266.5337
• Rent YoY: ▲ 5.39%
• 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

+17.4% since first listed

42 events — show timeline

• 2026-06-02 Sold (MLS) $67,500 MLSNOW
• 2026-05-19 Pending — MLSNOW
• 2026-05-04 Listed $75,000 MLSNOW
• 2026-05-02 Listing Removed — MLSNOW
• 2026-03-09 Price Changed $79,900 MLSNOW
• 2026-02-09 Price Changed $84,900 MLSNOW
• 2025-11-02 Listed $89,000 MLSNOW
• 2023-07-10 Sold (Public Records) $65,000 Public Records
• 2023-07-08 Sold (MLS) $65,000 MLSNOW
• 2023-06-29 Pending — MLSNOW
• 2023-06-14 Contingent — MLSNOW
• 2023-05-30 Listed $69,900 MLSNOW
• 2020-04-18 Pending — MLSNOW
• 2020-04-17 Sold (Public Records) $46,000 Public Records
• 2020-04-17 Sold (MLS) $46,000 MLSNOW
• 2020-03-17 Contingent — MLSNOW
• 2020-02-19 Price Changed $51,400 MLSNOW
• 2020-02-01 Price Changed $51,900 MLSNOW
• 2020-01-09 Price Changed $52,900 MLSNOW
• 2019-12-05 Price Changed $54,900 MLSNOW
• 2019-12-05 Price Changed $52,900 MLSNOW
• 2019-11-19 Listed $57,900 MLSNOW
• 2014-06-19 Listing Removed — MLSNOW
• 2013-12-18 Listed $28,000 MLSNOW
• 2011-11-23 Listing Removed — MLSNOW
• 2010-11-24 Listed $44,500 MLSNOW
• 2008-09-29 Sold (MLS) $30,000 MLSNOW
• 2008-08-31 Listing Removed — MLSNOW
• 2008-02-27 Listed $30,000 MLSNOW
• 2006-12-09 Listing Removed — MLSNOW
• 2006-06-09 Listed $54,900 MLSNOW
• 2006-06-08 Listing Removed — MLSNOW
• 2005-12-12 Listed $54,900 MLSNOW
• 2003-03-10 Sold (MLS) $48,000 MLSNOW
• 2003-03-06 Sold (Public Records) $48,500 Public Records
• 2002-12-30 Listed $49,900 MLSNOW
• 1998-12-30 Sold (MLS) $36,000 MLSNOW
• 1998-12-24 Sold (Public Records) $36,000 Public Records
• 1998-08-31 Listed $39,000 MLSNOW
• 1985-04-19 Sold (Public Records) $59,900 Public Records
• 1985-04-19 Sold (Public Records) $43,100 Public Records
• 1982-04-07 Sold (Public Records) $57,500 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,458 · -0.2% YoY. Source: county tax records.