199 E Parkway Dr · Madison, OH 44057

$225,000

3 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 21 Days on market

Built 1992 0.27 ac lot

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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 +13.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

Key facts

• Updated appliances
• Enclosed back porch
• Vaulted ceiling

Tags

• VAULTED CEILING
• LVP FLOORING
• FIREPLACE
• ENCLOSED BACK PORCH
• UPDATED APPLIANCES
• AMPLE CABINET SPACE

Property features AI

Finance

• Financial info: Annual taxes reported

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story home; 1,260 above-grade finished area
• Construction: Built (per public records); Aluminum and vinyl siding; Asphalt shingle roof
• Exterior features: Public water; Public sewer

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Baseboard heating
• Interior features: Fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $3 ($34/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (15.0% below list).
• Recommended offer: $191k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#250 in OH, #3,982 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D, amenities F, commute F.
• Madison Local (suburban): math 58% / reading 59% proficiency, ranked #308 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Elementary School (math 65% / reading 58%, grade B, #646 of 1,584 statewide, top 41%, 564 students, 34% FRL); Madison Middle School (math 52% / reading 58%, grade B-, #335 of 654 statewide, top 52%, 609 students, 36% FRL); Madison High School (math 52% / reading 62%, grade C, #275 of 781 statewide, top 37%, 860 students, 32% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 97 active listings in the ZIP; 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($70k/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.
• 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 21 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $118k; list at $225k implies a 90% gain — meaningful room to come down on a strong offer.

Recommended offer $191,265 (15.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-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?
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.05%
• DSCR: 1.00
• GRM: 9.8

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: -16.2%
• Equity multiple: 0.42×
• Total profit: $-36,280
• Equity at exit: $33,548

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-31,360
• 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 44057

• Active inventory: 97
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,913 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$234 /mo · $2,814/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $3

Break-even live

Break-even rent $1,909

Max offer price $225,000

Occupancy floor 95%

Sensitivity live

Price	-10% $130	-5% $67	+0% $3	+5% $-61	+10% $-125
Rent	-10% $-148	-5% $-73	+0% $3	+5% $78	+10% $154
Rate	-1.0pp $116	-0.5pp $60	base $3	+0.5pp $-55	+1.0pp $-115

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: —

Listing history 12 events

1. 2026-05-08
   listed $225,000 Active
2. 2015-12-31
   soldstatus $118,500 Sold 370-char remark

   Show marketing remark (370 chars)

   Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

3. 2015-12-31
   soldstatus $118,500

   Show marketing remark (370 chars)

   Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

4. 2015-12-28
   status Pending 370-char remark

   Show marketing remark (370 chars)

   Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

5. 2015-10-27
   historical Contingent 370-char remark

   Show marketing remark (370 chars)

   Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

6. 2015-10-21
   price $99,900 370-char remark

   Show marketing remark (370 chars)

   Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

7. 2015-09-09
   price $109,900 370-char remark

   Show marketing remark (370 chars)

   Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

8. 2015-08-04
   price $117,500 370-char remark

   Show marketing remark (370 chars)

   Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

9. 2015-07-13
   listed $121,500 Active 370-char remark

   Show marketing remark (370 chars)

   Well Kept, one owner Ranch in popular Parkway Estates/ Spacious great room boasting a vaulted ceiling & gas fireplace/Step-Saver Kitchen opens to dining room/ Master bath features a step-in shower/Enjoy the outdoors on your screened in patio overlooking your partially fenced yard/All appliances stay/Convenient to School, shopping, & restaurants and Rt. 90.

10. 1992-02-18
    soldstatus $74,900
11. 1992-02-18
    soldstatus $74,900
12. 1990-01-26
    soldstatus $150,000

ⓘ 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: $2,814 · $234/mo
• Projected year-2 tax: $3,162 · $263/mo
• Expected delta: +$348/yr (+$29/mo · 12.4%)

ⓘ 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 ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,952
• − Mortgage interest: −$12,603
• − Property taxes: −$2,814
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$6,545
• Taxable loss: −$3,808
• Est. tax savings @ 24.0%: +$914
• After-tax cash flow: $948/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: Madison Local
• NCES district ID: 3904788
• Math proficiency: 58% ▼ -7.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $51,608
• Composite: 49.99/100
• National rank: #1924
• State rank: #308 of 656 in OH

Livability — Madison

• Score: 75/100
• State rank: #250
• US rank: #3982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, OH
• County: Lake · 224,932 people
• City population: 19,491
• Metro: Cleveland, OH
• Population (ZIP): 19,491
• Household income: $70,212
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 8.5

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Scotch-Irish 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -241.42%
• Current HPI: 187.8978
• Rent YoY: —
• Metro: —
• 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

+50.0% since first listed

12 events — show timeline

• 2026-05-08 Listed $225,000 MLSNOW
• 2015-12-31 Sold (Public Records) $118,500 Public Records
• 2015-12-31 Sold (MLS) $118,500 MLSNOW
• 2015-12-28 Pending — MLSNOW
• 2015-10-27 Contingent — MLSNOW
• 2015-10-21 Price Changed $99,900 MLSNOW
• 2015-09-09 Price Changed $109,900 MLSNOW
• 2015-08-04 Price Changed $117,500 MLSNOW
• 2015-07-13 Listed $121,500 MLSNOW
• 1992-02-18 Sold (Public Records) $74,900 Public Records
• 1992-02-18 Sold (Public Records) $74,900 Public Records
• 1990-01-26 Sold (Public Records) $150,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,814 · -2.1% YoY. Source: county tax records.