22011 River Oaks Dr Unit A3 · Rocky River, OH 44116

$74,900

1 bd · 1.0 ba · 968 sqft · Condo public records · 44 Days on market

Built 1964 $77/sqft · 39% below area Est $92k · 18% under $341/mo HOA · 27% of rent

---

Why this score? — see what drove the B- 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 +20.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Schools +7.4/10.0
• DSCR +6.3/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking to invest, or to own, nice 1 bedroom, updated with new high quality flooring, freshly painted. located in highly desired area of Rocky River, walking distance to shopping plaza, Cinema, restaurants.

Key facts

• Open layout
• Corner unit
• New light fixtures

Tags

• CORNER UNIT
• OPEN LAYOUT
• FRESHLY PAINTED KITCHEN
• NEW LIGHT FIXTURES
• DURABLE LVP FLOORING
• MULTIPLE CLOSETS

Property features AI

Finance

• HOA & community: Kare Condo homeowners association; Monthly association fee of $341.95; HOA covers common area maintenance, heat, HVAC, insurance, grounds & structure maintenance, parking, sewer, snow removal, trash and water

Exterior

• Parking: Assigned detached garage (1 car)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-story; Entry on first level
• Construction: Brick construction; Asphalt/fiberglass shingle roof; Year built per public records
• Exterior features: Public records lot information

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Tile (bathroom)
• Bathrooms: One full main-level bathroom
• Heating & cooling: Forced air heating; Central air; Ceiling fans
• Interior features: Blinds; Smoke detector(s)
• Laundry & utility: Laundry room in common area / in hall

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: 115 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent is only 16% of the median local income ($94k/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 $518 of loan paydown is wiped out by about $2k 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 44 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $65k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1964 — 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: 1.66% ✓
• Cap rate: 7.77%
• Cash-on-cash: 5.27%
• DSCR: 1.23
• GRM: 5.0

CMA / ARV

• ARV (median comp): $91,615
• List price: $74,900
• Delta: -18.25%
• 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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-6,026
• Equity at exit: $11,168

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $3,309
• Equity at exit: $6,476

Cash invested: $20,972 (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 44116

• Active inventory: 115
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$393
• Tax from tax record: −$126 /mo · $1,508/yr
• Insurance: −$31
• HOA: −$341
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $92

Break-even live

Break-even rent $1,127

Max offer price $74,900

Occupancy floor 88%

Sensitivity live

Price	-10% $134	-5% $113	+0% $92	+5% $71	+10% $50
Rent	-10% $-6	-5% $43	+0% $92	+5% $141	+10% $190
Rate	-1.0pp $130	-0.5pp $111	base $92	+0.5pp $73	+1.0pp $53

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22081 River Oaks Dr Unit B8 Rocky River, OH	1.0	1.0	726	$1,245	$1.71	5d	1	0.07mi
22081 River Oaks Dr Rocky River, OH	1.0	1.0	726	$1,198	$1.65	18d	2	0.08mi
22603 Center Ridge Rd Rocky River, OH	1.0–3.0	1.0–2.5	2190	$1,895	$0.87	3d	23	0.47mi
21045 Southbend Cir Unit 9 Rocky River, OH	2.0	1.0	800	$1,500	$1.88	22d	1	0.79mi
21045 Southbend Cir Apt 8 Rocky River, OH	2.0	1.0	800	$1,500	$1.88	45d	1	0.79mi
21045 Southbend Cir Apt 2 Rocky River, OH	1.0	1.0	800	$1,300	$1.62	45d	1	0.79mi
3303 Linden Rd Rocky River, OH	2.0	1.0–1.5	645	$1,374	$2.13	3d	17	0.87mi
19875 Center Ridge Rd Rocky River, OH	1.0	1.0	678	$1,772	$2.61	3d	9	1.09mi
3400 Wooster Rd Rocky River, OH	1.0	1.0	780	$1,500	$1.92	25d	1	1.11mi
20550 Detroit Rd Unit 8 Rocky River, OH	1.0	1.0	725	$1,080	$1.49	22d	1	1.30mi
20550 Detroit Rd Apt 6 Rocky River, OH	1.0	1.0	725	$1,025	$1.41	4d	1	1.30mi
20123 Lorain Rd Cleveland, OH	1.0–2.0	1.0–2.0	820	$920	$1.12	3d	1	1.34mi
20333 Detroit Rd Unit 213 Rocky River, OH	2.0	1.5	800	$1,400	$1.75	45d	1	1.38mi
23246 Alexander Rd North Olmsted, OH	2.0	1.0	750	$1,100	$1.47	45d	1	1.39mi
19740 Lorain Rd Fairview Park, OH	1.0–2.0	1.0	800	$1,099	$1.37	17d	2	1.40mi

HOA detail condo

• Monthly dues: $341 · $4,092/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $74,900 Active 44 DOM
2. 2026-06-18
   days on market $74,900 Active 41 DOM
3. 2026-06-17
   days on market $74,900 Active 40 DOM
4. 2026-06-16
   days on market $74,900 Active 39 DOM
5. 2026-06-15
   days on market $74,900 Active 38 DOM
6. 2026-06-13
   days on market $74,900 Active 36 DOM
7. 2026-06-13
   days on market $74,900 Active 35 DOM
8. 2026-06-09
   days on market $74,900 Active 32 DOM
9. 2026-06-08
   days on market $74,900 Active 31 DOM
10. 2026-06-07
    days on market $74,900 Active 30 DOM
11. 2026-06-05
    days on market $74,900 Active 27 DOM
12. 2026-06-03
    days on market $74,900 Active 26 DOM
13. 2026-06-02
    days on market $74,900 Active 25 DOM
14. 2026-06-01
    days on market $74,900 Active 24 DOM
15. 2026-05-31
    days on market $74,900 Active 23 DOM
16. 2026-05-07
    listed $77,900 Active 934-char remark
17. 2024-06-19
    status Pending 206-char remark

    Show marketing remark (206 chars)

    Looking to invest, or to own, nice 1 bedroom, updated with new high quality flooring, freshly painted. located in highly desired area of Rocky River, walking distance to shopping plaza, Cinema, restaurants.

18. 2024-06-07
    soldstatus $65,000 Closed 206-char remark

    Show marketing remark (206 chars)

    Looking to invest, or to own, nice 1 bedroom, updated with new high quality flooring, freshly painted. located in highly desired area of Rocky River, walking distance to shopping plaza, Cinema, restaurants.

19. 2024-05-31
    soldstatus $65,000
20. 2024-05-20
    historical Contingent 206-char remark

    Show marketing remark (206 chars)

    Looking to invest, or to own, nice 1 bedroom, updated with new high quality flooring, freshly painted. located in highly desired area of Rocky River, walking distance to shopping plaza, Cinema, restaurants.

21. 2024-05-15
    listed $65,000 Active 206-char remark

    Show marketing remark (206 chars)

    Looking to invest, or to own, nice 1 bedroom, updated with new high quality flooring, freshly painted. located in highly desired area of Rocky River, walking distance to shopping plaza, Cinema, restaurants.

22. 2020-08-25
    soldstatus $42,000
23. 2020-08-24
    soldstatus $42,000 Closed

    Show marketing remark (804 chars)

    Whether you’re looking for maintenance free living or investment opportunity, this is the place for you! Check out this spacious one bedroom condo in highly desired city of Rocky River! Walk in the front door to the galley kitchen with ample cabinets and counter space and put your culinary skills to work. Dining area right off the kitchen which flows into the large living room. Check out the size of the bedroom - not something you find often in one bedroom condos! Full bath with a tub/shower combo rounds out the unit! Convenient location with a laundry room and storage locker right outside your door. Building provides round the clock security system. Close proximity to shopping and dining. Schedule your private showing today, don’t miss out on this great opportunity in Rocky River!

24. 2020-08-04
    status Pending

    Show marketing remark (804 chars)

    Whether you’re looking for maintenance free living or investment opportunity, this is the place for you! Check out this spacious one bedroom condo in highly desired city of Rocky River! Walk in the front door to the galley kitchen with ample cabinets and counter space and put your culinary skills to work. Dining area right off the kitchen which flows into the large living room. Check out the size of the bedroom - not something you find often in one bedroom condos! Full bath with a tub/shower combo rounds out the unit! Convenient location with a laundry room and storage locker right outside your door. Building provides round the clock security system. Close proximity to shopping and dining. Schedule your private showing today, don’t miss out on this great opportunity in Rocky River!

25. 2020-07-31
    listed $47,900 Active

    Show marketing remark (804 chars)

    Whether you’re looking for maintenance free living or investment opportunity, this is the place for you! Check out this spacious one bedroom condo in highly desired city of Rocky River! Walk in the front door to the galley kitchen with ample cabinets and counter space and put your culinary skills to work. Dining area right off the kitchen which flows into the large living room. Check out the size of the bedroom - not something you find often in one bedroom condos! Full bath with a tub/shower combo rounds out the unit! Convenient location with a laundry room and storage locker right outside your door. Building provides round the clock security system. Close proximity to shopping and dining. Schedule your private showing today, don’t miss out on this great opportunity in Rocky River!

26. 1999-01-29
    soldstatus $34,000

ⓘ 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: $1,508 · $126/mo
• Projected year-2 tax: $1,508 · $126/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: $14,927
• − Mortgage interest: −$4,196
• − Property taxes: −$1,508
• − Insurance: −$374
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − HOA: −$4,092
• − Depreciation: −$2,179
• Taxable income: $190
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $1,059/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

+120.3% since first listed

14 events — show timeline

• 2026-05-27 Relisted — MLSNOW
• 2026-05-27 Price Changed $74,900 MLSNOW
• 2026-05-26 Pending — MLSNOW
• 2026-05-07 Listed $77,900 MLSNOW
• 2024-06-19 Pending — MLSNOW
• 2024-06-07 Sold (MLS) $65,000 MLSNOW
• 2024-05-31 Sold (Public Records) $65,000 Public Records
• 2024-05-20 Contingent — MLSNOW
• 2024-05-15 Listed $65,000 MLSNOW
• 2020-08-25 Sold (Public Records) $42,000 Public Records
• 2020-08-24 Sold (MLS) $42,000 MLSNOW
• 2020-08-04 Pending — MLSNOW
• 2020-07-31 Listed $47,900 MLSNOW
• 1999-01-29 Sold (Public Records) $34,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,508 · -2.4% YoY. Source: county tax records.