194 E Bridge St · Berea, OH 44017

$224,900

3 bd · 2.0 ba · 1,060 sqft · MultiFamily public records · 43 Days on market

Built 1850 6,599 sqft lot Est $265k · 15% under

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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 +14.6/30.0
• ARV discount +14.4/15.0
• DSCR +4.5/10.0
• Schools +4.4/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

A place to call home OR Turnkey investment opportunity in the heart of Berea! This 4-bedroom, 2 full bathroom home is zoned a 2-family, a rare find on this street, the property provides excellent versatility for continued single-family use or conversion to a duplex. A spacious two-story deck (2021) with separate exterior access enhances the property’s potential for private entry or dual-use living. Major capital improvements have already been completed, including windows (2021), central air (2021), furnace (2022), and driveway (2021). The interior features updated kitchen, bathrooms, and flooring, creating a move-in ready experience. All appliances convey. Excellent walkable location in Berea just minutes from Baldwin Wallace University, Coe Lake, and the shops and dining at Berea Commons. Easy access to highways and Cleveland Hopkins International Airport makes this a convenient and highly desirable setting. Whether you're looking for an investment property or a place to call home, this property offers excellent versatility. Also available: 212 East Bridge St. , located just two doors down (MLS# 5195246) seller is willing to sell properties individually or as a package. Schedule your private showing today!

Key facts

• Zoned a 2-family
• Updated bathrooms
• Updated kitchen

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• ZONED A 2-FAMILY
• SPACIOUS TWO-STORY DECK
• MAJOR CAPITAL IMPROVEMENTS
• UPDATED KITCHEN
• UPDATED BATHROOMS

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $54 ($643/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 $210k (6.8% below list).
• Recommended offer: $210k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.8% in Berea — 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 80/100 on livability (#136 in OH, #1,955 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, commute F.
• Berea City (suburban): math 47% / reading 56% proficiency, ranked #414 of 656 in OH (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 61 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 33% of the median local income ($75k/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.
• 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 43 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $190k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $209,700 (6.8% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 8.9

CMA / ARV

• ARV (median comp): $265,314
• List price: $224,900
• Delta: -15.23%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-32,968
• Equity at exit: $33,533

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-24,062
• Equity at exit: $19,445

Cash invested: $62,972 (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 44017

• Active inventory: 61
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $2,097 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$330 /mo · $3,959/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $54

Break-even live

Break-even rent $2,029

Max offer price $224,900

Occupancy floor 92%

Sensitivity live

Price	-10% $181	-5% $117	+0% $54	+5% $-10	+10% $-74
Rent	-10% $-112	-5% $-29	+0% $54	+5% $136	+10% $219
Rate	-1.0pp $167	-0.5pp $111	base $54	+0.5pp $-5	+1.0pp $-64

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,098
Total (2 units)			$2,097

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Barrett Rd Berea, OH	3.0	1.0–2.0	798	$1,445	$1.81	11d	1	1.05mi
287 Edgewood Dr Berea, OH	3.0	1.0	1284	$1,800	$1.40	2d	1	1.23mi
670 Prospect Rd Berea, OH	1.0–3.0	1.0	852	$1,686	$1.98	2d	16	1.27mi

Listing history 16 events

1. 2026-04-10
   listed $224,900 Active 1232-char remark

   Show marketing remark (1232 chars)

   A place to call home OR Turnkey investment opportunity in the heart of Berea! This 4-bedroom, 2 full bathroom home is zoned a 2-family, a rare find on this street, the property provides excellent versatility for continued single-family use or conversion to a duplex. A spacious two-story deck (2021) with separate exterior access enhances the property’s potential for private entry or dual-use living. Major capital improvements have already been completed, including windows (2021), central air (2021), furnace (2022), and driveway (2021). The interior features updated kitchen, bathrooms, and flooring, creating a move-in ready experience. All appliances convey. Excellent walkable location in Berea just minutes from Baldwin Wallace University, Coe Lake, and the shops and dining at Berea Commons. Easy access to highways and Cleveland Hopkins International Airport makes this a convenient and highly desirable setting. Whether you're looking for an investment property or a place to call home, this property offers excellent versatility. Also available: 212 East Bridge St. , located just two doors down (MLS# 5195246) seller is willing to sell properties individually or as a package. Schedule your private showing today!

2. 2021-05-13
   status Pending 1012-char remark

   Show marketing remark (1012 chars)

   Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

3. 2021-05-07
   soldstatus $190,000 Closed 1012-char remark

   Show marketing remark (1012 chars)

   Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

4. 2021-04-08
   historical Contingent 1012-char remark

   Show marketing remark (1012 chars)

   Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

5. 2021-02-19
   price $220,000 1012-char remark

   Show marketing remark (1012 chars)

   Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

6. 2021-02-18
   status Active 1012-char remark

   Show marketing remark (1012 chars)

   Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

7. 2020-12-07
   historical Contingent 1012-char remark

   Show marketing remark (1012 chars)

   Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

8. 2020-09-09
   status Active 1012-char remark

   Show marketing remark (1012 chars)

   Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

9. 2020-07-15
   status Pending 1012-char remark

   Show marketing remark (1012 chars)

   Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

10. 2020-06-30
    listed $142,500 Active 1012-char remark

    Show marketing remark (1012 chars)

    Charming quintessential home providing a unique opportunity as a multi-fam investment property located in the ideal campus neighborhood of Baldwin Wallace. Completely renovated from top-to-bottom—all bedrooms, hallways, floors, light fixtures and more. Brand new upstairs and downstairs full bathrooms, entire kitchen renovation (floors, cabinetry, backsplashes, countertops) and upstairs second floor laundry room. Layout for this investment property includes multiple bedrooms upstairs. Downstairs includes kitchen, dining, full-size living room and full basement for storage. Located just footsteps away from the Baldwin Wallace college campus. Property allows you to park all cars/tenants with additional space to spare. This investment property will not last—and can be sold or bundled as part of a larger portfolio package. Perfect location close to highways and Cleveland Metroparks. Super clean, well maintained and turn key make this property a true must see! Super convenient to downtown Be

11. 2008-04-02
    soldstatus $125,000
12. 2008-02-28
    historical
13. 2007-11-14
    listed $129,900
14. 1988-03-24
    soldstatus $21,575
15. 1986-06-27
    soldstatus $64,500
16. 1986-06-27
    soldstatus $64,500

ⓘ 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: $3,959 · $330/mo
• Projected year-2 tax: $3,959 · $330/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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,164
• − Mortgage interest: −$12,598
• − Property taxes: −$3,959
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,013
• − Management: −$2,013
• − Depreciation: −$6,543
• Taxable loss: −$3,086
• Est. tax savings @ 24.0%: +$741
• After-tax cash flow: $1,384/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: Berea City
• NCES district ID: 3904360
• Math proficiency: 47% ▼ -17.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $51,921
• Composite: 44.18/100
• National rank: #2856
• State rank: #414 of 656 in OH

Livability — Berea

• Score: 80/100
• State rank: #136
• US rank: #1955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berea, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 18,279
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 18,279
• Household income: $75,231
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 356.0

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 (79%)
• Race & ethnicity: White 79% Black 8% Two or more races 8% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 11% Slovak 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Chinese 0%

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: ▼ -139.89%
• Current HPI: 208.8113
• 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

+248.7% since first listed

16 events — show timeline

• 2026-04-10 Listed $224,900 MLSNOW
• 2021-05-13 Pending — MLSNOW
• 2021-05-07 Sold (MLS) $190,000 MLSNOW
• 2021-04-08 Contingent — MLSNOW
• 2021-02-19 Price Changed $220,000 MLSNOW
• 2021-02-18 Relisted — MLSNOW
• 2020-12-07 Contingent — MLSNOW
• 2020-09-09 Relisted — MLSNOW
• 2020-07-15 Pending — MLSNOW
• 2020-06-30 Listed $142,500 MLSNOW
• 2008-04-02 Sold (Public Records) $125,000 Public Records
• 2008-02-28 Listing Removed — MLSNOW
• 2007-11-14 Listed $129,900 MLSNOW
• 1988-03-24 Sold (Public Records) $21,575 Public Records
• 1986-06-27 Sold (Public Records) $64,500 Public Records
• 1986-06-27 Sold (Public Records) $64,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $3,959 · +0.2% YoY. Source: county tax records.