723 Trotter Ln · Berea, OH 44017

$192,000

4 bd · 1.5 ba · 1,592 sqft · SingleFamily public records · 14 Days on market

Built 1962 9,583 sqft lot $121/sqft · 11% below area Est $245k · 22% under $33/mo HOA · 2% of rent ↓ 8% since listing

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.6/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into the potential of this sprawling slab ranch designed with comfort, accessibility, and everyday practicality in mind. A true fixer-upper ready for updating, this home was clearly cared for by a long-time owner who valued efficiency, insulation, and solid maintenance throughout the years. A gentle slope from the attached 2-car garage provides easy access into the home, while extra-wide hallways and doorways, based on 1970s-era accessibility guidelines, allow for easier movement throughout. Inside, a generous living room is centered around a woodburning fireplace with raised brick hearth and built-in bookshelves. A separate family room adds additional gathering space, while the bright

Key facts

• Bright sun room
• Fenced yard
• Sprawling slab ranch

Tags

• SPRAWLING SLAB RANCH
• WOODBURNING FIREPLACE
• BUILT-IN BOOKSHELVES
• SEPARATE FAMILY ROOM
• BRIGHT SUN ROOM
• FENCED YARD

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Homeowners association: Blue Grass; Annual association fee of $390 covering common area maintenance and pool(s); Community amenities include playground, park, restaurant, shopping and pool

Exterior

• Parking: Attached garage with 2 spaces; Driveway; Garage faces front and includes garage door opener and drain
• Utilities: Public water; Public sewer
• Home design: Single-story home; Faces northwest; Slab foundation
• Construction: Built by Bob Schmitt; Aluminum siding; Asphalt/fiberglass roof; Year built per public records
• Exterior features: Back and front yard; Chain link and wood fencing; Shed(s) on the property; In-ground community pool (private pool listed)

Interior

• Kitchen: Laminate counters
• Bedrooms: Three main-level bedrooms
• Flooring: Tile flooring throughout main living areas and rooms
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air gas heating; Central air conditioning
• Interior features: Bookcases and built-in features in the living room; Ceiling fans; Laminate countertops; Aluminum, wood and storm window frames; Accessible full bath, bedroom, closets, central living area and hallways; Living room fireplace (wood-burning)
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry closet in hall

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $192k).
• Cap rate 7.5% 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: 59 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 32% 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 $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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $192,000

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.06% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 7.9

CMA / ARV

• ARV (median comp): $244,800
• List price: $192,000
• Delta: -21.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23155 Wainwright Ter	0.17mi	3/2.5 (-1)	1,595 (+0%)	1mo	$251,000	$157	82
22295 Jonathan Dr	0.71mi	4/1.5	1,600 (+0%)	1mo	$351,500	$220	65
148 Meadow Cir	0.57mi	4/2.0	1,600 (+0%)	6mo	$250,000	$156	65
549 Wyleswood Dr	0.46mi	3/2.0 (-1)	1,630 (+2%)	4mo	$419,000	$257	65
9852 Colfax Dr	0.72mi	4/2.0	1,576 (-1%)	4mo	$253,000	$161	60
147 Best Dr	0.59mi	4/1.5	1,737 (+9%)	4mo	$272,000	$157	54
380 Adrian Dr	0.68mi	3/1.0 (-1)	1,528 (-4%)	2mo	$180,000	$118	53
10209 Bryant Ave	0.74mi	3/2.0 (-1)	1,540 (-3%)	1mo	$315,000	$205	52
516 Fair St	0.71mi	3/2.0 (-1)	1,520 (-4%)	3mo	$285,026	$188	50
22419 Jonathan Dr	0.67mi	4/2.5	1,764 (+11%)	0mo	$335,000	$190	46
104 Whitehall Dr	0.73mi	3/2.0 (-1)	1,445 (-9%)	6mo	$205,000	$142	38
112 Meadow Dr	0.70mi	3/1.5 (-1)	1,364 (-14%)	1mo	$223,000	$163	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-18,897
• Equity at exit: $28,628

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-497
• Equity at exit: $16,601

Cash invested: $53,760 (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: 59
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,028 high
• Mortgage (P&I): −$1,007
• Tax from tax record: −$292 /mo · $3,503/yr
• Insurance: −$80
• HOA: −$33
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $190

Break-even live

Break-even rent $1,787

Max offer price $192,000

Occupancy floor 86%

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: $48,000
• Closing costs: $5,760
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9745 Douglas Ln Olmsted Falls, OH	1.0–3.0	1.0	1000	$1,686	$1.69	2d	2	0.15mi
480 Haverhill Cir Berea, OH	3.0	2.0	1864	$1,945	$1.04	2d	1	0.63mi
287 Edgewood Dr Berea, OH	3.0	1.0	1284	$1,800	$1.40	2d	1	0.86mi
670 Prospect Rd Berea, OH	1.0–3.0	1.0	852	$1,686	$1.98	2d	16	0.91mi
22410 Rock Creek Cir Strongsville, OH	3.0	2.0	2103	$2,400	$1.14	2d	1	1.08mi
367 S Rocky River Dr Unit 1496132P Berea, OH	4.0	2.0	1765	$5,357	$3.04	8d	1	1.38mi

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 5 events

1. 2026-06-02
   statusdays on market $192,000 Pending 14 DOM
2. 2026-06-01
   days on market $192,000 Contingent 13 DOM
3. 2026-05-31
   days on market $192,000 Contingent 12 DOM
4. 2026-05-16
   status Pending 1921-char remark
5. 2026-05-13
   listed $208,000 Active 1921-char remark

ⓘ 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: $3,503 · $292/mo
• Projected year-2 tax: $3,503 · $292/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: $24,338
• − Mortgage interest: −$10,755
• − Property taxes: −$3,503
• − Insurance: −$960
• − Repairs & maintenance: −$1,947
• − Management: −$1,947
• − HOA: −$396
• − Depreciation: −$5,585
• Taxable loss: −$755
• Est. tax savings @ 24.0%: +$181
• After-tax cash flow: $2,467/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

-7.7% since first listed

6 events — show timeline

• 2026-06-02 Pending — MLSNOW
• 2026-05-26 Contingent — MLSNOW
• 2026-05-22 Relisted — MLSNOW
• 2026-05-22 Price Changed $192,000 MLSNOW
• 2026-05-16 Pending — MLSNOW
• 2026-05-13 Listed $208,000 MLSNOW

Property tax history

+3.2%/yr

Latest (2025): $3,503 · -0.2% YoY. Source: county tax records.