22701 Center Ridge Rd #212 · Rocky River, OH 44116

$189,000

2 bd · 2.0 ba · 1,140 sqft · Condo public records · 47 Days on market

Built 1969 $166/sqft · 14% below area Est $220k · 14% under $277/mo HOA · 14% of rent

---

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 +13.9/30.0
• ARV discount +13.9/15.0
• Schools +7.4/10.0
• 1% rule +5.9/10.0
• Livability +4.5/5.0
• DSCR +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely second floor unit is spacious and has a fresh and light decor * The Living Room has a beautiful fireplace and is open to the formal Dining Room and a comfortable outdoor balcony overlooking private wooded area * Eat-in Kitchen * Large private master bedroom with oversize closets & private bath with roomy walk in shower * Many recent updates including furnace, updated electrical breaker box, windows, and more * Home is in move in condition * Convenient in-suite laundry with newer Washer and Dryer * All appliances stay * Plenty of in-suite storage space plus storage locker in lower level * Secure indoor heated garage parking * Building has elevator * Pets allowed (with restrictions) * Beautiful self managed building with lovely lobby area and a self-managed home owners association * Enjoy this wonderful Riviera West condominium in a prime location that's close to everything!

Key facts

• Outdoor balcony
• In-suite laundry
• Elevator

Tags

• OUTDOOR BALCONY
• EAT-IN KITCHEN
• IN-SUITE LAUNDRY
• IN-SUITE STORAGE SPACE
• STORAGE LOCKER
• ELEVATOR

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Riviera West Condo HOA; Monthly association fee of $277; HOA covers association management, insurance, reserves, sewer, snow removal, trash and water

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Condo unit in a 3-story building; Entry level: 212
• Construction: Brick construction; Asphalt/fiberglass roof
• Exterior features: Public water; Public sewer

Interior

• Kitchen: Cooktop; Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Living room; Dining room; One fireplace
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $21 ($248/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 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 $6k 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 47 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $74k; list at $189k implies a 154% gain — meaningful room to come down on a strong offer.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. 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: 1.08% ✓
• Cap rate: 6.42%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 7.7

CMA / ARV

• ARV (median comp): $220,454
• List price: $189,000
• Delta: -14.27%
• 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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-29,100
• Equity at exit: $28,181

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-22,788
• Equity at exit: $16,341

Cash invested: $52,920 (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: 7.7×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$991
• Tax from tax record: −$252 /mo · $3,030/yr
• Insurance: −$79
• HOA: −$277
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $21

Break-even live

Break-even rent $2,025

Max offer price $189,000

Occupancy floor 94%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22603 Center Ridge Rd Rocky River, OH	1.0–3.0	1.0–2.5	2190	$4,095	$1.87	1d	23	0.04mi
22081 River Oaks Dr Rocky River, OH	1.0	1.0	726	$1,198	$1.65	17d	2	0.42mi
22081 River Oaks Dr Unit B8 Rocky River, OH	1.0	1.0	726	$1,245	$1.71	4d	1	0.43mi
23246 Alexander Rd North Olmsted, OH	2.0	1.0	750	$1,100	$1.47	43d	1	0.94mi
22445 Lorain Rd Fairview Park, OH	1.0–2.0	1.0	732	$1,599	$2.18	1d	1	1.21mi
21045 Southbend Cir Unit 9 Rocky River, OH	2.0	1.0	800	$1,500	$1.88	21d	1	1.26mi
21045 Southbend Cir Apt 8 Rocky River, OH	2.0	1.0	800	$1,500	$1.88	43d	1	1.26mi
21045 Southbend Cir Apt 2 Rocky River, OH	1.0	1.0	800	$1,300	$1.62	43d	1	1.26mi
20588 Lorain Rd Unit 17 Fairview Park, OH	3.0	1.0	1066	$1,295	$1.21	23d	1	1.30mi
20586 Lorain Rd Fairview Park, OH	3.0	1.0	1066	$1,295	$1.21	43d	1	1.31mi
3303 Linden Rd Rocky River, OH	2.0	1.0–1.5	645	$1,739	$2.70	1d	17	1.31mi
20580 Lorain Rd Cleveland, OH	3.0	1.0	1066	$1,345	$1.26	7d	4	1.32mi
20586 Lorain Rd Unit 11 Fairview Park, OH	3.0	1.0	1066	$1,395	$1.31	7d	1	1.33mi
20582 Lorain Rd Unit 28 Fairview Park, OH	3.0	1.0	1066	$1,295	$1.21	43d	1	1.33mi
1930 King James Pkwy Westlake, OH	1.0	2.0	903	$1,150	$1.27	12d	1	1.46mi
4566 W 226th St Cleveland, OH	3.0	1.0	1488	$1,895	$1.27	43d	1	1.48mi

HOA detail condo

• Monthly dues: $277 · $3,324/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $189,000 Active 47 DOM
2. 2026-06-17
   days on market $189,000 Active 46 DOM
3. 2026-06-16
   days on market $189,000 Active 45 DOM
4. 2026-06-15
   days on market $189,000 Active 44 DOM
5. 2026-06-13
   days on market $189,000 Active 42 DOM
6. 2026-06-13
   days on market $189,000 Active 41 DOM
7. 2026-06-09
   days on market $189,000 Active 38 DOM
8. 2026-06-08
   days on market $189,000 Active 37 DOM
9. 2026-06-07
   days on market $189,000 Active 36 DOM
10. 2026-06-05
    days on market $189,000 Active 33 DOM
11. 2026-06-03
    days on market $189,000 Active 32 DOM
12. 2026-06-02
    days on market $189,000 Active 31 DOM
13. 2026-06-01
    days on market $189,000 Active 30 DOM
14. 2026-05-31
    days on market $189,000 Active 29 DOM
15. 2026-05-11
    price $189,000 830-char remark
16. 2026-05-02
    listed $198,000 Active 830-char remark
17. 2012-01-19
    soldstatus $74,500 898-char remark

    Show marketing remark (898 chars)

    Lovely second floor unit is spacious and has a fresh and light decor * The Living Room has a beautiful fireplace and is open to the formal Dining Room and a comfortable outdoor balcony overlooking private wooded area * Eat-in Kitchen * Large private master bedroom with oversize closets & private bath with roomy walk in shower * Many recent updates including furnace, updated electrical breaker box, windows, and more * Home is in move in condition * Convenient in-suite laundry with newer Washer and Dryer * All appliances stay * Plenty of in-suite storage space plus storage locker in lower level * Secure indoor heated garage parking * Building has elevator * Pets allowed (with restrictions) * Beautiful self managed building with lovely lobby area and a self-managed home owners association * Enjoy this wonderful Riviera West condominium in a prime location that's close to everything!

18. 2012-01-17
    soldstatus $74,500
19. 2011-10-28
    listed $84,900 898-char remark

    Show marketing remark (898 chars)

    Lovely second floor unit is spacious and has a fresh and light decor * The Living Room has a beautiful fireplace and is open to the formal Dining Room and a comfortable outdoor balcony overlooking private wooded area * Eat-in Kitchen * Large private master bedroom with oversize closets & private bath with roomy walk in shower * Many recent updates including furnace, updated electrical breaker box, windows, and more * Home is in move in condition * Convenient in-suite laundry with newer Washer and Dryer * All appliances stay * Plenty of in-suite storage space plus storage locker in lower level * Secure indoor heated garage parking * Building has elevator * Pets allowed (with restrictions) * Beautiful self managed building with lovely lobby area and a self-managed home owners association * Enjoy this wonderful Riviera West condominium in a prime location that's close to everything!

20. 1992-04-29
    soldstatus $78,500

ⓘ 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: $3,030 · $252/mo
• Projected year-2 tax: $3,030 · $252/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,608
• − Mortgage interest: −$10,587
• − Property taxes: −$3,030
• − Insurance: −$945
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − HOA: −$3,324
• − Depreciation: −$5,498
• Taxable loss: −$2,713
• Est. tax savings @ 24.0%: +$651
• After-tax cash flow: $899/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: 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

+140.8% since first listed

6 events — show timeline

• 2026-05-11 Price Changed $189,000 MLSNOW
• 2026-05-02 Listed $198,000 MLSNOW
• 2012-01-19 Sold (MLS) $74,500 MLSNOW
• 2012-01-17 Sold (Public Records) $74,500 Public Records
• 2011-10-28 Listed $84,900 MLSNOW
• 1992-04-29 Sold (Public Records) $78,500 Public Records

Property tax history

+3.9%/yr

Latest (2025): $3,030 · -0.3% YoY. Source: county tax records.