4818 Cornell St · Northridge, OH 45503

$185,000

2 bd · 2.0 ba · 1,124 sqft · Condo public records · 5 Days on market

Built 2006 $140/mo HOA · 8% 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 +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• 1% rule +4.2/10.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in and enjoy low maintenance living in this well maintained 2 bedroom, 2 bathroom condo located in the desirable Westmont Gardens community in Northridge. Situated on a spacious corner lot, this thoughtfully updated home offers the perfect combination of comfort, convenience, and major recent updates. Buy with confidence knowing the furnace, air conditioner, and water heater were all replaced in April 2025, while the HOA completed a new roof in May 2024. Fresh interior paint throughout, updated black kitchen cabinets with white trim, and luxury vinyl plank flooring in the kitchen, dining area, and laundry room create a clean, modern feel. The functional floor plan features two bedrooms, two full bathrooms, abundant natural light, and easy one level living. Enjoy your morning coffee on the welcoming front porch, relax on the private rear patio, or take advantage of the attached 2 car garage with plenty of storage space. Located in the sought after Northridge area, Westmont Gardens offers a convenient lifestyle close to shopping, dining, healthcare, and everyday amenities. If you're looking for an updated, move-in ready home with major mechanical improvements already completed, this is one you won't want to miss.

Key facts

• Major recent updates
• Fresh interior paint
• New roof

Tags

• WELL MAINTAINED CONDO
• THOUGHTFULLY UPDATED HOME
• MAJOR RECENT UPDATES
• NEW ROOF
• FRESH INTERIOR PAINT
• UPDATED BLACK KITCHEN CABINETS

Property features AI

Finance

• HOA & community: Homeowners association with a $140 monthly fee; HOA fee includes insurance and trash

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Condominium; One story; Built in 2006
• Construction: Slab foundation
• Exterior features: Patio; One common wall (attached unit)

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Living area approximately 1,124

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-4 ($-45/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (8.4% below list).
• Recommended offer: $170k (8.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#730 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Northeastern Local (suburban): math 49% / reading 60% proficiency, ranked #365 of 656 in OH (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Northridge Middle School (math 47% / reading 55%, grade C, #405 of 654 statewide, top 63%, 445 students, 0% FRL) — zoned schools average 0% FRL vs 27% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 147 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Clark County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Recommended offer $169,500 (8.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.92% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 9.1

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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-30,151
• Equity at exit: $27,584

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-26,297
• Equity at exit: $15,995

Cash invested: $51,800 (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 45503

• Active inventory: 147
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,695 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$77
• HOA: −$140
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $-4

Break-even live

Break-even rent $1,700

Max offer price $184,340

Occupancy floor 95%

Sensitivity live

Price	-10% $101	-5% $49	+0% $-4	+5% $-56	+10% $-108
Rent	-10% $-138	-5% $-71	+0% $-4	+5% $63	+10% $130
Rate	-1.0pp $89	-0.5pp $43	base $-4	+0.5pp $-52	+1.0pp $-100

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4815 Cornell St Springfield, OH	3.0	1.5	1448	$1,695	$1.17	13d	1	0.06mi

HOA detail condo

• Monthly dues: $140 · $1,680/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-17
   status $185,000 Pending 5 DOM
2. 2026-06-16
   days on market $185,000 Active 5 DOM
3. 2026-06-15
   days on market $185,000 Active 4 DOM
4. 2026-06-13
   days on market $185,000 Active 2 DOM
5. 2026-06-12
   remarks 699-char remark
6. 2026-06-12
   listed $185,000 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: $1,867 · $156/mo
• Projected year-2 tax: $2,376 · $198/mo
• Expected delta: +$510/yr (+$42/mo · 27.3%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,340
• − Mortgage interest: −$10,363
• − Property taxes: −$1,867
• − Insurance: −$925
• − Repairs & maintenance: −$1,627
• − Management: −$1,627
• − HOA: −$1,680
• − Depreciation: −$5,382
• Taxable loss: −$3,131
• Est. tax savings @ 24.0%: +$751
• After-tax cash flow: $707/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: Northeastern Local
• NCES district ID: 3904625
• Math proficiency: 49% ▼ -16.00%
• Reading proficiency: 60% ▼ -7.00%
• Median HH income: $55,340
• Composite: 46.99/100
• National rank: #2350
• State rank: #365 of 656 in OH

Livability — Northridge

• Score: 65/100
• State rank: #730
• US rank: #13221

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Northridge, OH
• County: Clark · 134,280 people
• Metro: Springfield, OH
• Population (ZIP): 32,673
• Household income: $54,561
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 4.7

Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.92%
• Current HPI: 257.5694
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-11 Listed $185,000 CBRMLS
• 2026-06-11 Listed $185,000 Dayton MLS
• 2026-06-11 Listed $185,000 WRIST

Property tax history

+4.4%/yr

Latest (2025): $1,867 · +18.1% YoY. Source: county tax records.