7024 Buckhurst Pl · Mentor, OH 44060

$175,000

3 bd · 1.5 ba · 1,531 sqft · Condo public records · 22 Days on market

Built 1979 $296/mo HOA · 17% 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).

• Cash flow +10.4/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large Townhouse W/ 2 Dining Areas, Dining Rm Overlooks Sliding Glass Door W/ View To Patio, Eat-in Kitchen W/ Room For Table To Enjoy View From Large Kitchen Window, Master Bdrm W/ Adjoining Full Bath, Neutral Decor, Carpet Recently Cleaned, 2 Car Garage, C/A, 1 Year Warranty, Subject To Probate Approval.

Key facts

• Laundry room
• Walk-in closet
• Private patio

Tags

• PRIVATE PATIO
• OPEN KITCHEN
• LAUNDRY ROOM
• GUEST HALF-BATH
• WALK-IN CLOSET

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association: The Villages; Monthly association fee; Association fee covers management, common area maintenance, insurance, grounds maintenance, structure maintenance, and snow removal

Exterior

• Parking: Attached garage with direct access; 2 garage spaces; Garage door opener; Garage has electricity
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: 2-story home; Entry level is 1; Property is attached
• Construction: Built (year per public records); Wood siding; Asphalt/fiberglass roof
• Exterior features: Private yard; Patio; Wooded lot; Has a view

Interior

• Kitchen: Dishwasher; Garbage disposal; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Central air conditioning; Forced-air gas heating
• Interior features: Pantry; Storage
• Laundry & utility: Washer hookup in unit on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (9.5% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $158k (9.5% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.7% in Mentor — 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 84/100 on livability (#53 in OH, #739 nationally) — a professional / high-income tenant draw. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, commute F.
• Mentor Exempted Village (suburban): math 58% / reading 70% proficiency, ranked #201 of 656 in OH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Memorial Middle School (math 62% / reading 70%, grade A-, #179 of 654 statewide, top 28%, 897 students, 21% FRL); Mentor High School (math 48% / reading 76%, grade B-, #202 of 781 statewide, top 29%, 2,405 students, 20% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 267 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lake 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 22 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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 $120k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $158,417 (9.5% 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 1979 — 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: 1.02% ✓
• Cap rate: 5.65%
• Cash-on-cash: -2.30%
• DSCR: 0.90
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.40×
• Total profit: $-29,474
• Equity at exit: $26,093

10-year hold

• IRR: -3.3%
• Equity multiple: 0.75×
• Total profit: $-12,398
• Equity at exit: $15,131

Cash invested: $49,000 (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 44060

• Rents YoY: 5.5%
• Active inventory: 267
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,778 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$212 /mo · $2,538/yr
• Insurance: −$73
• HOA: −$296
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-94

Break-even live

Break-even rent $1,896

Max offer price $158,417

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-44	+0% $-94	+5% $-143	+10% $-193
Rent	-10% $-234	-5% $-164	+0% $-94	+5% $-24	+10% $47
Rate	-1.0pp $-6	-0.5pp $-49	base $-94	+0.5pp $-139	+1.0pp $-185

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9880 Old Johnnycake Ridge Rd Concord Township, OH	2.0	1.5	1100	$1,550	$1.41	23d	1	0.39mi
9765 Johnnycake Ridge Rd Unit 1 Mentor, OH	3.0	1.5	1800	$1,475	$0.82	3d	1	0.69mi
7746 Skylineview Dr Concord Township, OH	4.0	2.5	1966	$2,729	$1.39	9d	1	1.38mi

HOA detail condo

• Monthly dues: $296 · $3,552/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $175,000 Active 22 DOM
2. 2026-06-18
   days on market $175,000 Active 19 DOM
3. 2026-06-17
   days on market $175,000 Active 18 DOM
4. 2026-06-16
   days on market $175,000 Active 17 DOM
5. 2026-06-15
   days on market $175,000 Active 16 DOM
6. 2026-06-13
   days on market $175,000 Active 14 DOM
7. 2026-06-09
   days on market $175,000 Active 10 DOM
8. 2026-06-08
   days on market $175,000 Active 9 DOM
9. 2026-06-07
   days on market $175,000 Active 8 DOM
10. 2026-06-05
    days on market $175,000 Active 5 DOM
11. 2026-06-03
    days on market $175,000 Active 4 DOM
12. 2026-06-02
    days on market $175,000 Active 3 DOM
13. 2026-06-01
    days on market $175,000 Active 2 DOM
14. 2026-05-31
    remarks 689-char remark
15. 2026-05-31
    listed $175,000 Active 1 DOM

ⓘ 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: $2,538 · $212/mo
• Projected year-2 tax: $2,634 · $220/mo
• Expected delta: +$96/yr (+$8/mo · 3.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,331
• − Mortgage interest: −$9,803
• − Property taxes: −$2,538
• − Insurance: −$875
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − HOA: −$3,552
• − Depreciation: −$5,091
• Taxable loss: −$3,941
• Est. tax savings @ 24.0%: +$946
• After-tax cash flow: $-181/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: Mentor Exempted Village
• NCES district ID: 3904549
• Math proficiency: 58% ▼ -17.00%
• Reading proficiency: 70% ▼ -9.00%
• Median HH income: $64,267
• Composite: 55.71/100
• National rank: #1221
• State rank: #201 of 656 in OH

Livability — Mentor

• Score: 84/100
• State rank: #53
• US rank: #739

Category grades

Amenities D 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

• County: Lake County · 204,927 people
• City population: 60,779
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 60,779
• Household income: $87,599
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 883.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 7% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 93% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.36%
• Current HPI: 188.9887
• Rent YoY: ▲ 5.54%
• 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

+212.5% since first listed

6 events — show timeline

• 2026-05-30 Listed $175,000 MLSNOW
• 2005-05-18 Sold (MLS) $120,000 MLSNOW
• 2005-05-12 Sold (Public Records) $120,000 Public Records
• 2004-12-15 Listed $129,900 MLSNOW
• 1987-09-14 Sold (Public Records) $63,000 Public Records
• 1984-08-08 Sold (Public Records) $56,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,538 · -2.2% YoY. Source: county tax records.