45 1st Ave · Bedford, OH 44146

$219,000

4 bd · 2.0 ba · 1,932 sqft · MultiFamily public records · 48 Days on market

Built 1904 7,501 sqft lot $113/sqft · 11% above area Est $198k · 11% over

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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 +21.3/30.0
• DSCR +6.8/10.0
• 1% rule +6.2/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• 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

Welcome to 45 1st Ave, a classic brick side-by-side duplex nestled in the heart of Bedford. Blending timeless character with strong income potential, this well-maintained property is a standout opportunity for both seasoned investors and those looking to start building their portfolio. Each unit offers 2 spacious bedrooms and 1 full bath, complete with separate entrances and utilities—ideal for tenant privacy and simplified management. The property is already tenant-occupied, providing immediate and consistent cash flow from day one. With approximately 1,932 sq ft of total living space, this duplex delivers comfortable layouts and enduring construction. Recent updates—including

Key facts

• Immediate cash flow
• Newer water heaters
• Separate entrances

Tags

• BRICK SIDE BY SIDE DUPLEX
• STRONG INCOME POTENTIAL
• SEPARATE ENTRANCES
• TENANT PRIVACY
• IMMEDIATE CASH FLOW
• NEWER WATER HEATERS

Property features AI

Finance

• Financial info: Gross monthly income reported as $2,022; Owner pays water, sewer and trash collection; tenants pay electricity and gas; Two rented units with actual rents listed approximately $983 and $1,039

Exterior

• Parking: Detached 2-car garage; Private paved driveway and parking lot
• Utilities: Public water; Public sewer
• Home design: Two-story building; 1 building
• Construction: Aluminum siding and brick exterior; Asphalt/fiberglass flat roof; Built according to public records
• Exterior features: Concrete and paved driveway; Detached garage and private parking lot; Parking includes driveway, detached garage, paved areas and private parking

Interior

• Kitchen: Range included
• Bedrooms: Two 2-bedroom units (each unit is 2 bedrooms)
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Common unfinished basement with interior entry and storage space; 10 total rooms
• Laundry & utility: Washer and dryer provided in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $219k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive. Per door: $161/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 5.4% in Bedford — 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 73/100 on livability (#324 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Bedford City (suburban): math 19% / reading 32% proficiency, ranked #597 of 656 in OH (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.8%/yr); 105 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,462/mo this rent would consume 54% of the median local household income ($55k/yr) (locally 1314% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $61k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y 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 $127k; list at $219k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.12% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 7.4

CMA / ARV

• ARV (median comp): $198,014
• List price: $219,000
• Delta: 10.60%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
80 Egbert Rd	0.13mi	4/2.0	1,818 (-6%)	5mo	$80,000	$44	80
25 Taylor Rd	0.42mi	4/2.0	2,162 (+12%)	12mo	$230,000	$106	51
16 Brown Ln	0.63mi	4/2.0	1,697 (-12%)	10mo	$167,500	$99	42

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 · 5.83% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.87×
• Total profit: $-7,706
• Equity at exit: $32,654

10-year hold

• IRR: 9.6%
• Equity multiple: 1.84×
• Total profit: $51,421
• Equity at exit: $18,935

Cash invested: $61,320 (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 44146

• Rents YoY: 5.8%
• Active inventory: 105
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,462 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$384 /mo · $4,607/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $321

Break-even live

Break-even rent $2,055

Max offer price $219,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,462
Total (2 units)			$2,462

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 Paul St Bedford, OH	3.0	2.0	1891	$1,600	$0.85	10d	1	0.60mi
7287 Wright Ave Bedford, OH	3.0	1.0	1752	$1,795	$1.02	43d	1	0.97mi
14 Elm St Bedford, OH	3.0	2.0	2184	$1,600	$0.73	2d	1	1.15mi
286 W Grace St Bedford, OH	3.0	1.0	1254	$1,500	$1.20	16d	1	1.25mi

Listing history 27 events

1. 2026-06-18
   days on market $219,000 Active 48 DOM
2. 2026-06-17
   days on market $219,000 Active 47 DOM
3. 2026-06-16
   days on market $219,000 Active 46 DOM
4. 2026-06-15
   days on market $219,000 Active 45 DOM
5. 2026-06-13
   days on market $219,000 Active 43 DOM
6. 2026-06-09
   days on market $219,000 Active 39 DOM
7. 2026-06-08
   days on market $219,000 Active 38 DOM
8. 2026-06-07
   days on market $219,000 Active 37 DOM
9. 2026-06-05
   days on market $219,000 Active 34 DOM
10. 2026-06-03
    days on market $219,000 Active 33 DOM
11. 2026-06-02
    days on market $219,000 Active 32 DOM
12. 2026-06-01
    days on market $219,000 Active 31 DOM
13. 2026-05-31
    days on market $219,000 Active 30 DOM
14. 2026-05-01
    listed $219,000 Active 1361-char remark
15. 2026-04-30
    historical
16. 2026-02-24
    price $224,900
17. 2025-11-06
    listed $229,000 Active
18. 2023-06-16
    historical
19. 2023-03-22
    price $184,900
20. 2023-02-23
    price $189,000
21. 2022-08-15
    listed $199,000 Active
22. 2004-03-31
    soldstatus $127,000
23. 2000-04-28
    soldstatus $67,500
24. 1999-12-10
    listed $62,400
25. 1996-08-01
    soldstatus $88,000
26. 1978-03-01
    soldstatus $37,000
27. 1978-03-01
    soldstatus $37,000

ⓘ 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: $4,607 · $384/mo
• Projected year-2 tax: $4,607 · $384/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
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,544
• − Mortgage interest: −$12,267
• − Property taxes: −$4,607
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,364
• − Management: −$2,364
• − Depreciation: −$6,371
• Taxable income: $477
• Est. tax owed @ 24.0%: −$114
• After-tax cash flow: $3,742/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: Bedford City
• NCES district ID: 3910017
• Math proficiency: 19% ▼ -23.00%
• Reading proficiency: 32% ▼ -16.00%
• Median HH income: $42,353
• Composite: 21.69/100
• National rank: #8273
• State rank: #597 of 656 in OH

Livability — Bedford

• Score: 73/100
• State rank: #324
• US rank: #5334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 29,349
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 29,349
• Household income: $54,925
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 1314.0

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: Majority Black (59%)
• Race & ethnicity: Black 59% White 33% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Serbian 1% Armenian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 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: ▼ -114.08%
• Current HPI: 172.9421
• Rent YoY: ▲ 5.83%
• 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

+491.9% since first listed

14 events — show timeline

• 2026-05-01 Listed $219,000 MLSNOW
• 2026-04-30 Listing Removed — MLSNOW
• 2026-02-24 Price Changed $224,900 MLSNOW
• 2025-11-06 Listed $229,000 MLSNOW
• 2023-06-16 Listing Removed — MLSNOW
• 2023-03-22 Price Changed $184,900 MLSNOW
• 2023-02-23 Price Changed $189,000 MLSNOW
• 2022-08-15 Listed $199,000 MLSNOW
• 2004-03-31 Sold (Public Records) $127,000 Public Records
• 2000-04-28 Sold (MLS) $67,500 MLSNOW
• 1999-12-10 Listed $62,400 MLSNOW
• 1996-08-01 Sold (Public Records) $88,000 Public Records
• 1978-03-01 Sold (Public Records) $37,000 Public Records
• 1978-03-01 Sold (Public Records) $37,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $4,607 · +1.8% YoY. Source: county tax records.