115 S Rocky River Dr · Berea, OH 44017

$114,900

2 bd · 1.0 ba · 846 sqft · Condo · 34 Days on market

Built 1977 Poor condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.7/30.0
• 1% rule +5.2/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this beautifully updated 1-bedroom, 1-bath condo in the heart of Berea, Ohio, offering a blend of modern comfort and convenient location! The unit features luxury vinyl plank flooring throughout, providing durability and a sleek aesthetic! The kitchen impresses with beautiful countertops and an elegant backsplash, equipped with a microwave, stove, and refrigerator—ideal for easy meal preparation! The spacious bedroom offers ample room for relaxation, while the full bathroom boasts a stunning marble tub surround that adds a touch of sophistication! This condo is located in a well-maintained building with low HOA fees, making it an affordable and easy-to-own property! Coin laundry facilities are conveniently located just down the hall, adding to the ease of living! It’s perfect for investors seeking a turnkey rental or first-time homebuyers looking for move-in-ready comfort! With Baldwin Wallace University nearby, it also presents an excellent opportunity for student housing! Enjoy proximity to Coe Lake and the Berea Falls Scenic Overlook, perfect for peaceful walks and scenic views! The Cuyahoga County Fairgrounds hosts popular annual events like the National Rib Cookoff and Oktoberfest, providing year-round entertainment! For dining and socializing, Cornerstone Brewing Company and Grindstone Tap House are local favorites offering craft beers and great atmospheres! Outdoor enthusiasts will appreciate the nearby Go Ape Zipline & Adventure Park for thrilling adventures! Conveniently located near major highways, this condo offers easy access to downtown Cleveland and surrounding areas! It is also close to Cleveland Hopkins International Airport, ideal for frequent travelers! Full service property management available with dedicated departments for leasing, marketing, tenant communication. Plus rehab and construction services for remote investors! Don’t miss this opportunity to own a stylish condo in a vibrant community—schedule your showing today!

Key facts

• Remodeled bathroom
• Natural light
• Coe lake

Tags

• 6TH-FLOOR CORNER UNIT
• REMODELED BATHROOM
• TILED SHOWER SURROUND
• NATURAL LIGHT
• METROPARKS TRAILS
• COE LAKE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-235 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 3.8% vs local median 4.9% in Berea — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 80/100 on livability (#136 in OH, #1,955 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, commute F.
• Berea City (suburban): math 47% / reading 56% proficiency, ranked #414 of 656 in OH (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grindstone Elementary School (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 642 students, 27% FRL); Berea-Midpark Middle School (math 43% / reading 52%, grade C-, #444 of 654 statewide, top 69%, 1,556 students, 0% FRL); Berea-Midpark High School (math 28% / reading 60%, grade F, #489 of 781 statewide, top 63%, 1,850 students, 29% FRL).
• Market conditions: 61 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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).

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 34 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 24y ago; this cycle's ask is 18% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $94k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $111,453 (3.0% 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. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.02% ✓
• Cap rate: 3.84%
• Cash-on-cash: -8.77%
• DSCR: 0.61
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -31.5%
• Equity multiple: -0.04×
• Total profit: $-33,346
• Equity at exit: $17,132

10-year hold

• IRR: -33.6%
• Equity multiple: -0.47×
• Total profit: $-47,329
• 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 44017

• Active inventory: 61
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA est. from 6 same-building comps: −$365
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $-235

Break-even live

Break-even rent $1,467

Max offer price $80,892

Occupancy floor —

Sensitivity live

Price	-10% $-156	-5% $-195	+0% $-235	+5% $-275	+10% $-314
Rent	-10% $-327	-5% $-281	+0% $-235	+5% $-189	+10% $-143
Rate	-1.0pp $-177	-0.5pp $-206	base $-235	+0.5pp $-265	+1.0pp $-295

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Barrett Rd Berea, OH	3.0	1.0–2.0	798	$1,273	$1.60	12d	1	0.95mi
670 Prospect Rd Berea, OH	1.0–3.0	1.0	852	$1,218	$1.43	0d	18	0.95mi
439 Front St Unit Lower Berea, OH	1.0	1.0	660	$840	$1.27	19d	1	0.99mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-15
   days on market $114,900 Active 34 DOM
2. 2026-06-13
   days on market $114,900 Active 32 DOM
3. 2026-06-13
   days on market $114,900 Active 31 DOM
4. 2026-06-09
   days on market $114,900 Active 28 DOM
5. 2026-06-08
   days on market $114,900 Active 27 DOM
6. 2026-06-07
   days on market $114,900 Active 26 DOM
7. 2026-06-03
   days on market $114,900 Active 22 DOM
8. 2026-06-02
   days on market $114,900 Active 21 DOM
9. 2026-06-01
   days on market $114,900 Active 20 DOM
10. 2026-05-31
    days on market $114,900 Active 19 DOM
11. 2026-05-12
    listed $114,900 Active 612-char remark
12. 2025-09-19
    soldstatus $93,500 Closed 2017-char remark

    Show marketing remark (2017 chars)

    Step into this beautifully updated 1-bedroom, 1-bath condo in the heart of Berea, Ohio, offering a blend of modern comfort and convenient location! The unit features luxury vinyl plank flooring throughout, providing durability and a sleek aesthetic! The kitchen impresses with beautiful countertops and an elegant backsplash, equipped with a microwave, stove, and refrigerator—ideal for easy meal preparation! The spacious bedroom offers ample room for relaxation, while the full bathroom boasts a stunning marble tub surround that adds a touch of sophistication! This condo is located in a well-maintained building with low HOA fees, making it an affordable and easy-to-own property! Coin laundry facilities are conveniently located just down the hall, adding to the ease of living! It’s perfect for investors seeking a turnkey rental or first-time homebuyers looking for move-in-ready comfort! With Baldwin Wallace University nearby, it also presents an excellent opportunity for student housing! Enjoy proximity to Coe Lake and the Berea Falls Scenic Overlook, perfect for peaceful walks and scenic views! The Cuyahoga County Fairgrounds hosts popular annual events like the National Rib Cookoff and Oktoberfest, providing year-round entertainment! For dining and socializing, Cornerstone Brewing Company and Grindstone Tap House are local favorites offering craft beers and great atmospheres! Outdoor enthusiasts will appreciate the nearby Go Ape Zipline & Adventure Park for thrilling adventures! Conveniently located near major highways, this condo offers easy access to downtown Cleveland and surrounding areas! It is also close to Cleveland Hopkins International Airport, ideal for frequent travelers! Full service property management available with dedicated departments for leasing, marketing, tenant communication. Plus rehab and construction services for remote investors! Don’t miss this opportunity to own a stylish condo in a vibrant community—schedule your showing today!

13. 2025-08-26
    status Pending 2017-char remark

    Show marketing remark (2017 chars)

    Step into this beautifully updated 1-bedroom, 1-bath condo in the heart of Berea, Ohio, offering a blend of modern comfort and convenient location! The unit features luxury vinyl plank flooring throughout, providing durability and a sleek aesthetic! The kitchen impresses with beautiful countertops and an elegant backsplash, equipped with a microwave, stove, and refrigerator—ideal for easy meal preparation! The spacious bedroom offers ample room for relaxation, while the full bathroom boasts a stunning marble tub surround that adds a touch of sophistication! This condo is located in a well-maintained building with low HOA fees, making it an affordable and easy-to-own property! Coin laundry facilities are conveniently located just down the hall, adding to the ease of living! It’s perfect for investors seeking a turnkey rental or first-time homebuyers looking for move-in-ready comfort! With Baldwin Wallace University nearby, it also presents an excellent opportunity for student housing! Enjoy proximity to Coe Lake and the Berea Falls Scenic Overlook, perfect for peaceful walks and scenic views! The Cuyahoga County Fairgrounds hosts popular annual events like the National Rib Cookoff and Oktoberfest, providing year-round entertainment! For dining and socializing, Cornerstone Brewing Company and Grindstone Tap House are local favorites offering craft beers and great atmospheres! Outdoor enthusiasts will appreciate the nearby Go Ape Zipline & Adventure Park for thrilling adventures! Conveniently located near major highways, this condo offers easy access to downtown Cleveland and surrounding areas! It is also close to Cleveland Hopkins International Airport, ideal for frequent travelers! Full service property management available with dedicated departments for leasing, marketing, tenant communication. Plus rehab and construction services for remote investors! Don’t miss this opportunity to own a stylish condo in a vibrant community—schedule your showing today!

14. 2025-08-12
    listed $97,500 Active 2017-char remark

    Show marketing remark (2017 chars)

    Step into this beautifully updated 1-bedroom, 1-bath condo in the heart of Berea, Ohio, offering a blend of modern comfort and convenient location! The unit features luxury vinyl plank flooring throughout, providing durability and a sleek aesthetic! The kitchen impresses with beautiful countertops and an elegant backsplash, equipped with a microwave, stove, and refrigerator—ideal for easy meal preparation! The spacious bedroom offers ample room for relaxation, while the full bathroom boasts a stunning marble tub surround that adds a touch of sophistication! This condo is located in a well-maintained building with low HOA fees, making it an affordable and easy-to-own property! Coin laundry facilities are conveniently located just down the hall, adding to the ease of living! It’s perfect for investors seeking a turnkey rental or first-time homebuyers looking for move-in-ready comfort! With Baldwin Wallace University nearby, it also presents an excellent opportunity for student housing! Enjoy proximity to Coe Lake and the Berea Falls Scenic Overlook, perfect for peaceful walks and scenic views! The Cuyahoga County Fairgrounds hosts popular annual events like the National Rib Cookoff and Oktoberfest, providing year-round entertainment! For dining and socializing, Cornerstone Brewing Company and Grindstone Tap House are local favorites offering craft beers and great atmospheres! Outdoor enthusiasts will appreciate the nearby Go Ape Zipline & Adventure Park for thrilling adventures! Conveniently located near major highways, this condo offers easy access to downtown Cleveland and surrounding areas! It is also close to Cleveland Hopkins International Airport, ideal for frequent travelers! Full service property management available with dedicated departments for leasing, marketing, tenant communication. Plus rehab and construction services for remote investors! Don’t miss this opportunity to own a stylish condo in a vibrant community—schedule your showing today!

15. 2009-03-28
    historical
16. 2008-10-08
    listed $55,000
17. 2006-11-01
    soldstatus $26,000
18. 2006-06-29
    listed $27,900
19. 2006-06-12
    soldstatus $45,000
20. 2006-02-16
    listed $47,900
21. 2005-06-30
    historical
22. 2005-04-29
    soldstatus $30,000
23. 2005-03-23
    historical
24. 2005-02-03
    historical
25. 2005-02-03
    historical
26. 2004-10-24
    listed $58,900
27. 2004-10-19
    soldstatus $41,700
28. 2004-10-19
    soldstatus $41,700
29. 2004-09-23
    listed $34,900
30. 2004-08-03
    listed $46,500
31. 2004-08-03
    listed $46,500
32. 2004-08-03
    listed $46,500
33. 2004-08-03
    listed $46,500
34. 2003-07-29
    soldstatus $31,500
35. 2003-06-15
    historical
36. 2003-06-15
    historical
37. 2003-05-18
    listed $32,500
38. 2002-12-19
    listed $51,900
39. 2002-12-18
    listed $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,036
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − HOA: −$4,380
• − Depreciation: −$3,343
• Taxable loss: −$4,667
• Est. tax savings @ 24.0%: +$1,120
• After-tax cash flow: $-1,700/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to modern standards, significantly impacting its resale and rental value.

Repairs flagged

• Major kitchen appliances — Older and worn
• Major bathroom fixtures — Older and worn
• Major flooring — Worn and outdated
• Major landscaping — Snow-covered and unkempt

Value-add opportunities

• Resale New kitchen appliances — Modernizes the space and improves functionality
• Resale New bathroom fixtures — Modernizes the space and improves functionality
• Resale New flooring — Modernizes the space and improves functionality
• Both Landscaping and snow removal — Enhances curb appeal and makes the property more attractive

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · Older and worn	Major	$15,000–50,000
bathroom fixtures · Older and worn	Major	$15,000–50,000
flooring · Worn and outdated	Major	$15,000–50,000
landscaping · Snow-covered and unkempt	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale New kitchen appliances — Modernizes the space and improves functionality ↑
• Resale New bathroom fixtures — Modernizes the space and improves functionality ↑
• Resale New flooring — Modernizes the space and improves functionality ↑
• Both Landscaping and snow removal — Enhances curb appeal and makes the property more attractive ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Berea City
• NCES district ID: 3904360
• Math proficiency: 47% ▼ -17.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $51,921
• Composite: 44.18/100
• National rank: #2856
• State rank: #414 of 656 in OH

Livability — Berea

• Score: 80/100
• State rank: #136
• US rank: #1955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berea, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 18,279
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 18,279
• Household income: $75,231
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 356.0

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 (79%)
• Race & ethnicity: White 79% Black 8% Two or more races 8% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 11% Slovak 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Chinese 0%

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: ▼ -139.89%
• Current HPI: 208.8113
• 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

+56.1% since first listed

28 events — show timeline

• 2025-09-19 Sold (MLS) $93,500 MLSNOW
• 2025-08-26 Pending — MLSNOW
• 2025-08-12 Listed $97,500 MLSNOW
• 2009-03-28 Listing Removed — MLSNOW
• 2008-10-08 Listed $55,000 MLSNOW
• 2006-11-01 Sold (MLS) $26,000 MLSNOW
• 2006-06-29 Listed $27,900 MLSNOW
• 2006-06-12 Sold (MLS) $45,000 MLSNOW
• 2006-02-16 Listed $47,900 MLSNOW
• 2005-06-30 Listing Removed — MLSNOW
• 2005-04-29 Sold (MLS) $30,000 MLSNOW
• 2005-03-23 Listing Removed — MLSNOW
• 2005-02-03 Listing Removed — MLSNOW
• 2005-02-03 Listing Removed — MLSNOW
• 2004-10-24 Listed $58,900 MLSNOW
• 2004-10-19 Sold (MLS) $41,700 MLSNOW
• 2004-10-19 Sold (MLS) $41,700 MLSNOW
• 2004-09-23 Listed $34,900 MLSNOW
• 2004-08-03 Listed $46,500 MLSNOW
• 2004-08-03 Listed $46,500 MLSNOW
• 2004-08-03 Listed $46,500 MLSNOW
• 2004-08-03 Listed $46,500 MLSNOW
• 2003-07-29 Sold (MLS) $31,500 MLSNOW
• 2003-06-15 Listing Removed — MLSNOW
• 2003-06-15 Listing Removed — MLSNOW
• 2003-05-18 Listed $32,500 MLSNOW
• 2002-12-19 Listed $51,900 MLSNOW
• 2002-12-18 Listed $59,900 MLSNOW