521 Tollis Pkwy #288 · Broadview Heights, OH 44147

$114,000

1 bd · 1.0 ba · 706 sqft · Condo public records · 39 Days on market

Built 1969 $161/sqft · 6% above area Est $108k · 6% over $247/mo HOA · 21% 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 +10.7/30.0
• Schools +7.5/10.0
• 1% rule +5.6/10.0
• ARV discount +4.9/15.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience the ultimate in maintenance-free, one-floor living. This beautifully updated one bedroom one bath condo offers a fresh and modern atmosphere, boasting brand-new LVT flooring and a crisp coat of paint throughout. The open, airy layout provides a spacious retreat, while the building itself adds a layer of effortless convenience with a welcoming lobby, secure first-floor mailroom, and an elevator for easy access. Life here extends beyond your front door; the second floor features a community party room and shared laundry facilities. Beyond the unit, you are perfectly situated to enjoy everything Broadview Heights offers, from its top-rated community center and lush local parks to premier shopping and dining. Located just off Broadview Road, you are only minutes from major freeway access, putting the vibrant energy of Downtown Cleveland within easy reach. Enjoy a quick commute to world-class dining, professional sports, and the theater district while still coming home to the quiet, suburban comfort of a community known for its safety and local charm.

Key facts

• Updated condo
• One-floor living
• Welcoming lobby

Tags

• ONE-FLOOR LIVING
• UPDATED CONDO
• BRAND-NEW LVT FLOORING
• WELCOMING LOBBY
• SECURE FIRST-FLOOR MAILROOM
• ELEVATOR FOR EASY ACCESS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $-55 ($-658/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (8.5% below list).
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $104k (8.5% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 2.6% in Broadview Heights — 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 79/100 on livability (#150 in OH, #2,291 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Brecksville-Broadview Heights City (suburban): math 85% / reading 85% proficiency, ranked #23 of 656 in OH (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Brecksville-Broadview Heights Middle School (math 86% / reading 86%, grade A+, #13 of 654 statewide, top 2%, 796 students, 10% FRL); Brecksville-Broadview Heights High School (math 76% / reading 83%, grade A-, #35 of 781 statewide, top 6%, 1,232 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: 106 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent is only 14% of the median local income ($103k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k 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 39 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y 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 $45k; list at $114k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $104,319 (8.5% 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. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.06% ✓
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• GRM: 7.9

CMA / ARV

• ARV (median comp): $107,685
• List price: $114,000
• Delta: 5.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.5%
• Equity multiple: 0.32×
• Total profit: $-21,811
• Equity at exit: $16,998

10-year hold

• IRR: -12.0%
• Equity multiple: 0.28×
• Total profit: $-22,868
• Equity at exit: $9,857

Cash invested: $31,920 (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 44147

• Home prices YoY: -33.4%
• Active inventory: 106
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$114 /mo · $1,365/yr
• Insurance: −$48
• HOA: −$247
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $-55

Break-even live

Break-even rent $1,273

Max offer price $104,319

Occupancy floor 100%

Sensitivity live

Price	-10% $10	-5% $-23	+0% $-55	+5% $-87	+10% $-119
Rent	-10% $-150	-5% $-102	+0% $-55	+5% $-7	+10% $40
Rate	-1.0pp $3	-0.5pp $-26	base $-55	+0.5pp $-84	+1.0pp $-114

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1501 Summit Blvd Cleveland, OH	2.0–3.0	1.0–2.0	1040	$895	$0.86	0d	1	0.92mi
1550 W Royalton Rd Broadview Heights, OH	1.0–2.0	1.0	630	$935	$1.48	0d	45	1.00mi

HOA detail condo

• Monthly dues: $247 · $2,964/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $114,000 Active 39 DOM
2. 2026-06-18
   days on market $114,000 Active 36 DOM
3. 2026-06-17
   days on market $114,000 Active 35 DOM
4. 2026-06-16
   days on market $114,000 Active 34 DOM
5. 2026-06-15
   days on market $114,000 Active 33 DOM
6. 2026-06-13
   days on market $114,000 Active 31 DOM
7. 2026-06-09
   days on market $114,000 Active 27 DOM
8. 2026-06-08
   days on market $114,000 Active 26 DOM
9. 2026-06-07
   days on market $114,000 Active 25 DOM
10. 2026-06-05
    days on market $114,000 Active 22 DOM
11. 2026-06-03
    days on market $114,000 Active 21 DOM
12. 2026-06-02
    days on market $114,000 Active 20 DOM
13. 2026-06-01
    days on market $114,000 Active 19 DOM
14. 2026-05-31
    days on market $114,000 Active 18 DOM
15. 2026-05-13
    listed $114,000 Active 1073-char remark

    Show marketing remark (1073 chars)

    Experience the ultimate in maintenance-free, one-floor living. This beautifully updated one bedroom one bath condo offers a fresh and modern atmosphere, boasting brand-new LVT flooring and a crisp coat of paint throughout. The open, airy layout provides a spacious retreat, while the building itself adds a layer of effortless convenience with a welcoming lobby, secure first-floor mailroom, and an elevator for easy access. Life here extends beyond your front door; the second floor features a community party room and shared laundry facilities. Beyond the unit, you are perfectly situated to enjoy everything Broadview Heights offers, from its top-rated community center and lush local parks to premier shopping and dining. Located just off Broadview Road, you are only minutes from major freeway access, putting the vibrant energy of Downtown Cleveland within easy reach. Enjoy a quick commute to world-class dining, professional sports, and the theater district while still coming home to the quiet, suburban comfort of a community known for its safety and local charm.

16. 2021-03-16
    soldstatus $45,000
17. 2021-03-16
    soldstatus $45,000
18. 2021-03-04
    soldstatus $45,000 Closed 553-char remark

    Show marketing remark (553 chars)

    Welcome to unit 288. Here you find a meticulously maintained one bedroom 1 bathroom ranch style condo located on the 2nd floor of a secured condo building. This unit has newer carpet, a fresh and clean coat of paint, and an updated kitchen. The building offers a welcoming lobby with a first-floor mailroom and an elevator for ease of living. Located on the second floor are a community party room and shared laundry facilities. Located on the RTA bus line, this condo offers many conveniences such as access to shopping, hospitals, and community parks.

19. 2021-02-28
    status Pending 553-char remark

    Show marketing remark (553 chars)

    Welcome to unit 288. Here you find a meticulously maintained one bedroom 1 bathroom ranch style condo located on the 2nd floor of a secured condo building. This unit has newer carpet, a fresh and clean coat of paint, and an updated kitchen. The building offers a welcoming lobby with a first-floor mailroom and an elevator for ease of living. Located on the second floor are a community party room and shared laundry facilities. Located on the RTA bus line, this condo offers many conveniences such as access to shopping, hospitals, and community parks.

20. 2021-02-19
    historical Contingent 553-char remark

    Show marketing remark (553 chars)

    Welcome to unit 288. Here you find a meticulously maintained one bedroom 1 bathroom ranch style condo located on the 2nd floor of a secured condo building. This unit has newer carpet, a fresh and clean coat of paint, and an updated kitchen. The building offers a welcoming lobby with a first-floor mailroom and an elevator for ease of living. Located on the second floor are a community party room and shared laundry facilities. Located on the RTA bus line, this condo offers many conveniences such as access to shopping, hospitals, and community parks.

21. 2021-02-11
    listed $49,900 Active 553-char remark

    Show marketing remark (553 chars)

    Welcome to unit 288. Here you find a meticulously maintained one bedroom 1 bathroom ranch style condo located on the 2nd floor of a secured condo building. This unit has newer carpet, a fresh and clean coat of paint, and an updated kitchen. The building offers a welcoming lobby with a first-floor mailroom and an elevator for ease of living. Located on the second floor are a community party room and shared laundry facilities. Located on the RTA bus line, this condo offers many conveniences such as access to shopping, hospitals, and community parks.

22. 2002-08-29
    soldstatus $49,000
23. 2002-08-29
    soldstatus $49,000
24. 2002-05-28
    listed $50,000
25. 2000-07-28
    soldstatus $50,000
26. 2000-07-27
    historical
27. 2000-01-27
    listed $52,900
28. 1981-04-07
    soldstatus $32,000

ⓘ 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: $1,365 · $114/mo
• Projected year-2 tax: $1,572 · $131/mo
• Expected delta: +$207/yr (+$17/mo · 15.2%)

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

Taxation est. · year 1

• Rental income: $14,450
• − Mortgage interest: −$6,386
• − Property taxes: −$1,365
• − Insurance: −$570
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − HOA: −$2,964
• − Depreciation: −$3,316
• Taxable loss: −$2,463
• Est. tax savings @ 24.0%: +$591
• After-tax cash flow: $-66/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: Brecksville-Broadview Heights City
• NCES district ID: 3904364
• Math proficiency: 85% ▼ -7.00%
• Reading proficiency: 85% ▼ -4.00%
• Median HH income: $81,033
• Composite: 74.78/100
• National rank: #149
• State rank: #23 of 656 in OH

Livability — Broadview Heights

• Score: 79/100
• State rank: #150
• US rank: #2291

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broadview Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 19,771
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 19,771
• Household income: $103,125
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 186.0

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 (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 12% Subsaharan African 3% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Russian/Polish/Slavic 3% Other Indo-European 2% Spanish 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: ▼ -97.09%
• Current HPI: 193.3693
• 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

+256.2% since first listed

14 events — show timeline

• 2026-05-13 Listed $114,000 MLSNOW
• 2021-03-16 Sold (Public Records) $45,000 Public Records
• 2021-03-16 Sold (Public Records) $45,000 Public Records
• 2021-03-04 Sold (MLS) $45,000 MLSNOW
• 2021-02-28 Pending — MLSNOW
• 2021-02-19 Contingent — MLSNOW
• 2021-02-11 Listed $49,900 MLSNOW
• 2002-08-29 Sold (Public Records) $49,000 Public Records
• 2002-08-29 Sold (MLS) $49,000 MLSNOW
• 2002-05-28 Listed $50,000 MLSNOW
• 2000-07-28 Sold (MLS) $50,000 MLSNOW
• 2000-07-27 Listing Removed — MLSNOW
• 2000-01-27 Listed $52,900 MLSNOW
• 1981-04-07 Sold (Public Records) $32,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,365 · +0.0% YoY. Source: county tax records.