1689 Walnut Ln #5 · Rocky River, OH 44116

$264,900

3 bd · 2.5 ba · 1,756 sqft · Condo · 113 Days on market

Built 1975 Good condition $151/sqft · 11% below area Est $297k · 11% under $275/mo HOA · 10% of rent ↓ 7% since listing

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Why this score? — see what drove the C- 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 +12.7/30.0
• ARV discount +12.3/15.0
• Schools +7.4/10.0
• 1% rule +4.9/10.0
• Livability +4.5/5.0
• DSCR +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home!! Rare Opportunity to Own this Beautiful 3 Bedroom 2.5 Bath Condo in the Heart of Rocky River! Over 1,700 Square Feet of Maintenance Free Living! This Condo has Great Curb Appeal, with New Vinyl Siding and Gutters Installed in 2025. Enter Front Door into Large Double Story Foyer, Featuring Generous Coat Closet, Ceramic Flooring and Half Bath for Guests. Continue into Open Concept Layout with Dining Room, Living Room and Kitchen. Living Room has Abundance of Natural Light and Spacious Enough to Fit all of your Favorite Furniture and Electronics. Kitchen includes Plenty of Cabinetry and Counter Space (Appliances Remain). Upstairs Features 3 Spacious Bedrooms, Including Owners Suite w/ Private Full Bath. Laundry Room and 2nd Full Bath Complete Upper Level. Entire Condo has Brazilian Cherry Hardwood Flooring that adds Class and Elegance in each Room. Sliding Doors in LR lead to Private Patio w/ Privacy Fence. Perfect for Entertaining Guests or Private BBQ. Attached 1 Car Garage w/ Plenty of Storage Space. Furnace/AC/Hot Water Tank all Installed in 2022. Easy Access to Everything Rocky River is known for; Public Parks, Vibrant Downtown Area, First Class Restaurants, Shopping, All Major Highways and Top-Rated Schools!! Owner Providing One Year Home Warranty for your Peace of Mind. Do Not Miss Viewing this Beautiful Condo.

Key facts

• Private patio
• New vinyl siding
• Plenty of cabinetry

Tags

• NEW VINYL SIDING
• PRIVATE PATIO
• OPEN CONCEPT LAYOUT
• GENEROUS COAT CLOSET
• ABUNDANCE OF NATURAL LIGHT
• PLENTY OF CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-31 ($-373/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (0.9% below list).
• Recommended offer: $241k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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: schools A+, crime A+, amenities 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.
• Market conditions: 112 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 34% of the median local income ($94k/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 $8k 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 113 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.

Recommended offer $241,059 (9.0% 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 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
10. 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.
11. 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: 0.99% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 8.4

CMA / ARV

• ARV (median comp): $296,632
• List price: $264,900
• Delta: -10.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-44,699
• Equity at exit: $39,497

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-40,628
• Equity at exit: $22,904

Cash invested: $74,172 (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: 112
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,626 medium
• Mortgage (P&I): −$1,389
• Tax est. 1.5%: −$331 /mo · $3,974/yr
• Insurance: −$110
• HOA: −$275
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $-31

Break-even live

Break-even rent $2,665

Max offer price $260,396

Occupancy floor 96%

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2761 Forestview Ave Rocky River, OH	3.0	1.5	1684	$2,295	$1.36	43d	1	0.55mi
1449 Northview Rd Unit NA Rocky River, OH	3.0	1.0	1508	$2,350	$1.56	43d	1	0.62mi
22603 Center Ridge Rd Rocky River, OH	1.0–3.0	1.0–2.5	2190	$6,295	$2.87	1d	23	1.19mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $264,900 Active 113 DOM
2. 2026-06-17
   days on market $264,900 Active 112 DOM
3. 2026-06-16
   days on market $264,900 Active 111 DOM
4. 2026-06-15
   days on market $264,900 Active 110 DOM
5. 2026-06-13
   days on market $264,900 Active 108 DOM
6. 2026-06-13
   days on market $264,900 Active 107 DOM
7. 2026-06-09
   days on market $264,900 Active 104 DOM
8. 2026-06-08
   pricedays on market $264,900 Active 103 DOM
9. 2026-06-07
   days on market $274,900 Active 102 DOM
10. 2026-06-05
    days on market $274,900 Active 99 DOM
11. 2026-06-03
    days on market $274,900 Active 98 DOM
12. 2026-06-02
    days on market $274,900 Active 97 DOM
13. 2026-06-01
    days on market $274,900 Active 96 DOM
14. 2026-05-31
    days on market $274,900 Active 95 DOM
15. 2026-04-14
    price $274,900 1350-char remark

    Show marketing remark (1350 chars)

    Welcome Home!! Rare Opportunity to Own this Beautiful 3 Bedroom 2.5 Bath Condo in the Heart of Rocky River! Over 1,700 Square Feet of Maintenance Free Living! This Condo has Great Curb Appeal, with New Vinyl Siding and Gutters Installed in 2025. Enter Front Door into Large Double Story Foyer, Featuring Generous Coat Closet, Ceramic Flooring and Half Bath for Guests. Continue into Open Concept Layout with Dining Room, Living Room and Kitchen. Living Room has Abundance of Natural Light and Spacious Enough to Fit all of your Favorite Furniture and Electronics. Kitchen includes Plenty of Cabinetry and Counter Space (Appliances Remain). Upstairs Features 3 Spacious Bedrooms, Including Owners Suite w/ Private Full Bath. Laundry Room and 2nd Full Bath Complete Upper Level. Entire Condo has Brazilian Cherry Hardwood Flooring that adds Class and Elegance in each Room. Sliding Doors in LR lead to Private Patio w/ Privacy Fence. Perfect for Entertaining Guests or Private BBQ. Attached 1 Car Garage w/ Plenty of Storage Space. Furnace/AC/Hot Water Tank all Installed in 2022. Easy Access to Everything Rocky River is known for; Public Parks, Vibrant Downtown Area, First Class Restaurants, Shopping, All Major Highways and Top-Rated Schools!! Owner Providing One Year Home Warranty for your Peace of Mind. Do Not Miss Viewing this Beautiful Condo.

16. 2026-03-27
    price $282,900 1350-char remark

    Show marketing remark (1350 chars)

    Welcome Home!! Rare Opportunity to Own this Beautiful 3 Bedroom 2.5 Bath Condo in the Heart of Rocky River! Over 1,700 Square Feet of Maintenance Free Living! This Condo has Great Curb Appeal, with New Vinyl Siding and Gutters Installed in 2025. Enter Front Door into Large Double Story Foyer, Featuring Generous Coat Closet, Ceramic Flooring and Half Bath for Guests. Continue into Open Concept Layout with Dining Room, Living Room and Kitchen. Living Room has Abundance of Natural Light and Spacious Enough to Fit all of your Favorite Furniture and Electronics. Kitchen includes Plenty of Cabinetry and Counter Space (Appliances Remain). Upstairs Features 3 Spacious Bedrooms, Including Owners Suite w/ Private Full Bath. Laundry Room and 2nd Full Bath Complete Upper Level. Entire Condo has Brazilian Cherry Hardwood Flooring that adds Class and Elegance in each Room. Sliding Doors in LR lead to Private Patio w/ Privacy Fence. Perfect for Entertaining Guests or Private BBQ. Attached 1 Car Garage w/ Plenty of Storage Space. Furnace/AC/Hot Water Tank all Installed in 2022. Easy Access to Everything Rocky River is known for; Public Parks, Vibrant Downtown Area, First Class Restaurants, Shopping, All Major Highways and Top-Rated Schools!! Owner Providing One Year Home Warranty for your Peace of Mind. Do Not Miss Viewing this Beautiful Condo.

17. 2026-03-06
    price $284,900 1350-char remark

    Show marketing remark (1350 chars)

    Welcome Home!! Rare Opportunity to Own this Beautiful 3 Bedroom 2.5 Bath Condo in the Heart of Rocky River! Over 1,700 Square Feet of Maintenance Free Living! This Condo has Great Curb Appeal, with New Vinyl Siding and Gutters Installed in 2025. Enter Front Door into Large Double Story Foyer, Featuring Generous Coat Closet, Ceramic Flooring and Half Bath for Guests. Continue into Open Concept Layout with Dining Room, Living Room and Kitchen. Living Room has Abundance of Natural Light and Spacious Enough to Fit all of your Favorite Furniture and Electronics. Kitchen includes Plenty of Cabinetry and Counter Space (Appliances Remain). Upstairs Features 3 Spacious Bedrooms, Including Owners Suite w/ Private Full Bath. Laundry Room and 2nd Full Bath Complete Upper Level. Entire Condo has Brazilian Cherry Hardwood Flooring that adds Class and Elegance in each Room. Sliding Doors in LR lead to Private Patio w/ Privacy Fence. Perfect for Entertaining Guests or Private BBQ. Attached 1 Car Garage w/ Plenty of Storage Space. Furnace/AC/Hot Water Tank all Installed in 2022. Easy Access to Everything Rocky River is known for; Public Parks, Vibrant Downtown Area, First Class Restaurants, Shopping, All Major Highways and Top-Rated Schools!! Owner Providing One Year Home Warranty for your Peace of Mind. Do Not Miss Viewing this Beautiful Condo.

18. 2026-02-23
    listed $294,900 Active 1350-char remark

    Show marketing remark (1350 chars)

    Welcome Home!! Rare Opportunity to Own this Beautiful 3 Bedroom 2.5 Bath Condo in the Heart of Rocky River! Over 1,700 Square Feet of Maintenance Free Living! This Condo has Great Curb Appeal, with New Vinyl Siding and Gutters Installed in 2025. Enter Front Door into Large Double Story Foyer, Featuring Generous Coat Closet, Ceramic Flooring and Half Bath for Guests. Continue into Open Concept Layout with Dining Room, Living Room and Kitchen. Living Room has Abundance of Natural Light and Spacious Enough to Fit all of your Favorite Furniture and Electronics. Kitchen includes Plenty of Cabinetry and Counter Space (Appliances Remain). Upstairs Features 3 Spacious Bedrooms, Including Owners Suite w/ Private Full Bath. Laundry Room and 2nd Full Bath Complete Upper Level. Entire Condo has Brazilian Cherry Hardwood Flooring that adds Class and Elegance in each Room. Sliding Doors in LR lead to Private Patio w/ Privacy Fence. Perfect for Entertaining Guests or Private BBQ. Attached 1 Car Garage w/ Plenty of Storage Space. Furnace/AC/Hot Water Tank all Installed in 2022. Easy Access to Everything Rocky River is known for; Public Parks, Vibrant Downtown Area, First Class Restaurants, Shopping, All Major Highways and Top-Rated Schools!! Owner Providing One Year Home Warranty for your Peace of Mind. Do Not Miss Viewing this Beautiful Condo.

ⓘ 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: $31,512
• − Mortgage interest: −$14,839
• − Property taxes: −$3,974
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,521
• − Management: −$2,521
• − HOA: −$3,300
• − Depreciation: −$7,706
• Taxable loss: −$4,673
• Est. tax savings @ 24.0%: +$1,121
• After-tax cash flow: $748/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 · 12 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2.5-bath condo in Rocky River is in good condition with recent exterior updates. It offers a good investment opportunity with potential for value enhancement through minor cosmetic updates.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and property value
• Resale Clean gutters — Improves property value and reduces maintenance costs
• Both Replace old appliances — Modernizes kitchen and improves rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal and property value ↑
• Resale Clean gutters — Improves property value and reduces maintenance costs ↑
• Both Replace old appliances — Modernizes kitchen and improves rental appeal ↑

ⓘ 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: 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

-6.8% since first listed

4 events — show timeline

• 2026-04-14 Price Changed $274,900 MLSNOW
• 2026-03-27 Price Changed $282,900 MLSNOW
• 2026-03-06 Price Changed $284,900 MLSNOW
• 2026-02-23 Listed $294,900 MLSNOW