93 W 5th Ave · Berea, OH 44017

$225,000

3 bd · 2.0 ba · 1,310 sqft · MultiFamily public records · 11 Days on market

Built 1853 9,844 sqft lot $172/sqft · at area comps Est $221k · at est.

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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).

• Cash flow +13.7/30.0
• ARV discount +6.8/15.0
• Schools +4.4/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

This is a must-see opportunity to invest in a property that is located in a college town! This charming 2 unit property is fully tenanted! This house is located in a great spot near Downtown Berea!

Key facts

• Shed for storage
• Ample natural light
• Durable flooring

Tags

• UPDATED KITCHENS
• DURABLE FLOORING
• AMPLE NATURAL LIGHT
• PARTIALLY FINISHED BASEMENT
• SHED FOR STORAGE
• WITHIN 1.6 MILES OF PARKS

Property features AI

Finance

• Financial info: Owner pays sewer and trash collection; Tenant pays electricity and gas

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer
• Home design: 2-story home; Above-grade finished area approximately 1,310 (source: assessor)
• Construction: Wood siding exterior; Asphalt/fiberglass roof
• Exterior features: City lot

Interior

• Bedrooms: Bedrooms present (number not specified)
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (gas)
• Interior features: Partially finished basement; Total of 8 rooms
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1×2bd/2ba + 1×1bd/1ba units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $16 ($189/yr) — positive. Per door: $8/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (11.7% below list).
• Recommended offer: $199k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.8% in Berea — 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 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.
• Market conditions: 59 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 runs 32% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 34y 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: built in 1853 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $198,600 (11.7% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1853 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (median comp): $221,383
• List price: $225,000
• Delta: 1.63%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
93 W 5th Ave	0.00mi	3/3.0	1,310 (0%)	0mo	$215,000	$164	96

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-35,426
• Equity at exit: $33,548

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-29,438
• Equity at exit: $19,454

Cash invested: $63,000 (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 44017

• Active inventory: 59
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $1,986 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$279 /mo · $3,354/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $16

Break-even live

Break-even rent $1,966

Max offer price $225,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,032
1× unit	1	1	$954
Total (2 units)			$1,986

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Barrett Rd Berea, OH	3.0	1.0–2.0	798	$1,445	$1.81	10d	1	0.41mi
129 Riveredge Pkwy Berea, OH	3.0	1.5	1767	$1,800	$1.02	44d	1	0.85mi
125 Sheldon Rd Berea, OH	1.0–2.0	1.0–1.5	782	$1,815	$2.32	1d	1	0.89mi
287 Edgewood Dr Berea, OH	3.0	1.0	1284	$1,800	$1.40	1d	1	1.05mi
367 S Rocky River Dr Unit 1496132P Berea, OH	4.0	2.0	1765	$5,357	$3.04	7d	1	1.25mi

Listing history 19 events

1. 2026-05-11
   status Pending 759-char remark
2. 2026-04-30
   listed $225,000 Active 759-char remark
3. 2026-03-26
   historical
4. 2026-02-10
   status Active
5. 2026-02-10
   price $249,999
6. 2026-01-29
   historical Contingent
7. 2026-01-14
   listed $260,000 Active
8. 2024-04-05
   historical $900
9. 2024-03-09
   listed $900
10. 2021-05-12
    soldstatus $139,000
11. 2021-05-03
    soldstatus $139,000 Closed

    Show marketing remark (199 chars)

    This is a must-see opportunity to invest in a property that is located in a college town! This charming 2 unit property is fully tenanted! This house is located in a great spot near Downtown Berea!

12. 2021-03-26
    status Pending

    Show marketing remark (199 chars)

    This is a must-see opportunity to invest in a property that is located in a college town! This charming 2 unit property is fully tenanted! This house is located in a great spot near Downtown Berea!

13. 2021-03-17
    listed $139,000 Active

    Show marketing remark (199 chars)

    This is a must-see opportunity to invest in a property that is located in a college town! This charming 2 unit property is fully tenanted! This house is located in a great spot near Downtown Berea!

14. 1992-10-30
    soldstatus $60,000
15. 1992-10-29
    soldstatus $60,000
16. 1992-07-26
    listed $67,900
17. 1992-07-19
    historical
18. 1992-01-19
    listed $67,900
19. 1989-02-28
    soldstatus $36,000

ⓘ 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: $3,354 · $279/mo
• Projected year-2 tax: $3,432 · $286/mo
• Expected delta: +$78/yr (+$7/mo · 2.3%)

ⓘ 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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,832
• − Mortgage interest: −$12,603
• − Property taxes: −$3,354
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$6,545
• Taxable loss: −$3,609
• Est. tax savings @ 24.0%: +$866
• After-tax cash flow: $1,055/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: 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

+497.2% since first listed

20 events — show timeline

• 2026-06-05 Sold (MLS) $215,000 MLSNOW
• 2026-05-11 Pending — MLSNOW
• 2026-04-30 Listed $225,000 MLSNOW
• 2026-03-26 Listing Removed — MLSNOW
• 2026-02-10 Relisted — MLSNOW
• 2026-02-10 Price Changed $249,999 MLSNOW
• 2026-01-29 Contingent — MLSNOW
• 2026-01-14 Listed $260,000 MLSNOW
• 2024-04-05 Rental Removed $900 YESMLS
• 2024-03-09 Listed for Rent $900 YESMLS
• 2021-05-12 Sold (Public Records) $139,000 Public Records
• 2021-05-03 Sold (MLS) $139,000 MLSNOW
• 2021-03-26 Pending — MLSNOW
• 2021-03-17 Listed $139,000 MLSNOW
• 1992-10-30 Sold (MLS) $60,000 MLSNOW
• 1992-10-29 Sold (Public Records) $60,000 Public Records
• 1992-07-26 Listed $67,900 MLSNOW
• 1992-07-19 Listing Removed — MLSNOW
• 1992-01-19 Listed $67,900 MLSNOW
• 1989-02-28 Sold (Public Records) $36,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $3,354 · -0.1% YoY. Source: county tax records.