32769 Willowbrook Ln · North Ridgeville, OH 44039

$189,999

3 bd · 2.5 ba · 1,772 sqft · Condo public records · 52 Days on market

Built 1978 $107/sqft · at area comps Est $195k · at est. $269/mo HOA · 13% 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 +16.0/30.0
• ARV discount +8.8/15.0
• 1% rule +6.3/10.0
• DSCR +4.9/10.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful Updated Condo with lovely view off of the deck. 3 bedrooms, 2 full baths, attached 2 car garage. Development has two pools, tennis courts, and Rec. Facilities. Appliances are available. Also Available for Lease Purchase. Motivated Seller, SARO.

Key facts

• Hot water tank
• Open concept kitchen
• Hvac

Tags

• 2 CAR ATTACHED GARAGE
• PRIVATE OWNER'S SUITE
• OPEN CONCEPT KITCHEN
• NEWER WINDOWS
• HVAC
• HOT WATER TANK

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.3% in North Ridgeville — 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 74/100 on livability (#305 in OH, #4,924 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• North Ridgeville City (suburban): math 49% / reading 61% proficiency, ranked #339 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 206 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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 $102k; list at $190k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,299 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1978 — 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. 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?
8. 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.
9. 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.
10. 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: 1.13% ✓
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 7.4

CMA / ARV

• ARV (median comp): $195,487
• List price: $189,999
• Delta: -2.81%
• 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: -12.8%
• Equity multiple: 0.54×
• Total profit: $-24,598
• Equity at exit: $28,329

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-12,863
• Equity at exit: $16,428

Cash invested: $53,200 (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 44039

• Active inventory: 206
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,149 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$259 /mo · $3,107/yr
• Insurance: −$79
• HOA: −$269
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $94

Break-even live

Break-even rent $2,030

Max offer price $189,999

Occupancy floor 91%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5498 Broad Blvd North Ridgeville, OH	3.0	1.5	1300	$1,895	$1.46	43d	1	0.47mi
6610 Lear Nagle Rd #157 North Ridgeville, OH	3.0	2.0	1344	$1,549	$1.15	43d	1	1.04mi
30871 Lorain Rd North Olmsted, OH	4.0	2.0	1999	$2,750	$1.38	16d	1	1.23mi

HOA detail condo

• Monthly dues: $269 · $3,228/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $189,999 Active 52 DOM
2. 2026-06-17
   days on market $189,999 Active 51 DOM
3. 2026-06-16
   days on market $189,999 Active 50 DOM
4. 2026-06-15
   days on market $189,999 Active 49 DOM
5. 2026-06-13
   days on market $189,999 Active 47 DOM
6. 2026-06-09
   days on market $189,999 Active 43 DOM
7. 2026-06-08
   days on market $189,999 Active 42 DOM
8. 2026-06-07
   days on market $189,999 Active 41 DOM
9. 2026-06-05
   days on market $189,999 Active 38 DOM
10. 2026-06-03
    days on market $189,999 Active 37 DOM
11. 2026-06-02
    days on market $189,999 Active 36 DOM
12. 2026-06-01
    days on market $189,999 Active 35 DOM
13. 2026-05-31
    days on market $189,999 Active 34 DOM
14. 2026-05-18
    price $189,999 1092-char remark
15. 2026-04-27
    listed $195,000 Active 1092-char remark
16. 2011-08-31
    soldstatus $102,000 254-char remark

    Show marketing remark (254 chars)

    Wonderful Updated Condo with lovely view off of the deck. 3 bedrooms, 2 full baths, attached 2 car garage. Development has two pools, tennis courts, and Rec. Facilities. Appliances are available. Also Available for Lease Purchase. Motivated Seller, SARO.

17. 2011-08-31
    soldstatus $102,000

    Show marketing remark (254 chars)

    Wonderful Updated Condo with lovely view off of the deck. 3 bedrooms, 2 full baths, attached 2 car garage. Development has two pools, tennis courts, and Rec. Facilities. Appliances are available. Also Available for Lease Purchase. Motivated Seller, SARO.

18. 2010-07-29
    historical

    Show marketing remark (254 chars)

    Wonderful Updated Condo with lovely view off of the deck. 3 bedrooms, 2 full baths, attached 2 car garage. Development has two pools, tennis courts, and Rec. Facilities. Appliances are available. Also Available for Lease Purchase. Motivated Seller, SARO.

19. 2010-07-29
    listed $108,900 254-char remark

    Show marketing remark (254 chars)

    Wonderful Updated Condo with lovely view off of the deck. 3 bedrooms, 2 full baths, attached 2 car garage. Development has two pools, tennis courts, and Rec. Facilities. Appliances are available. Also Available for Lease Purchase. Motivated Seller, SARO.

20. 2009-11-11
    listed $114,900
21. 2003-09-12
    soldstatus $125,000
22. 2003-09-11
    soldstatus $125,000
23. 2003-08-09
    listed $124,900
24. 2002-05-29
    soldstatus $116,250
25. 2002-05-29
    soldstatus $116,300
26. 2002-02-27
    listed $119,900
27. 1998-10-22
    soldstatus $97,500
28. 1995-10-06
    soldstatus $93,000
29. 1995-10-05
    soldstatus $93,000
30. 1987-06-25
    soldstatus $76,900

ⓘ 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: $3,107 · $259/mo
• Projected year-2 tax: $3,107 · $259/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 6/10 Major FEMA zone X (shaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 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: $25,782
• − Mortgage interest: −$10,643
• − Property taxes: −$3,107
• − Insurance: −$950
• − Repairs & maintenance: −$2,063
• − Management: −$2,063
• − HOA: −$3,228
• − Depreciation: −$5,527
• Taxable loss: −$1,798
• Est. tax savings @ 24.0%: +$432
• After-tax cash flow: $1,558/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: North Ridgeville City
• NCES district ID: 3904453
• Math proficiency: 49% ▼ -21.00%
• Reading proficiency: 61% ▼ -11.00%
• Median HH income: $66,437
• Composite: 48.46/100
• National rank: #2130
• State rank: #339 of 656 in OH

Livability — North Ridgeville

• Score: 74/100
• State rank: #305
• US rank: #4924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Ridgeville, OH
• County: Lorain County · 219,437 people
• City population: 36,780
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 36,780
• Household income: $96,485
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 207.0

Population outlook (Lorain County) Hauer SSP2

• Today (2025): 314,924 people
• By 2030: 317,546 · +0.8%
• By 2040: 317,962 · +1.0%
• By 2050: 312,872 · -0.7%
• By 2075: 301,806 · -4.2%
• By 2100: 278,271 · -11.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Lorain

• 2024 margin: Lean R (+5.7) · D 46.7% · R 52.4%
• 2008→2024 swing: -23.6pp toward R · 2008: 17.9pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+2.5 2016: R+0.3 2012: D+14.4 2008: D+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.14%
• Current HPI: 210.6074
• 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

+147.1% since first listed

17 events — show timeline

• 2026-05-18 Price Changed $189,999 MLSNOW
• 2026-04-27 Listed $195,000 MLSNOW
• 2011-08-31 Sold (Public Records) $102,000 Public Records
• 2011-08-31 Sold (MLS) $102,000 MLSNOW
• 2010-07-29 Listed $108,900 MLSNOW
• 2010-07-29 Listing Removed — MLSNOW
• 2009-11-11 Listed $114,900 MLSNOW
• 2003-09-12 Sold (MLS) $125,000 MLSNOW
• 2003-09-11 Sold (Public Records) $125,000 Public Records
• 2003-08-09 Listed $124,900 MLSNOW
• 2002-05-29 Sold (Public Records) $116,300 Public Records
• 2002-05-29 Sold (MLS) $116,250 MLSNOW
• 2002-02-27 Listed $119,900 MLSNOW
• 1998-10-22 Sold (Public Records) $97,500 Public Records
• 1995-10-06 Sold (Public Records) $93,000 Public Records
• 1995-10-05 Sold (Public Records) $93,000 Public Records
• 1987-06-25 Sold (Public Records) $76,900 Public Records

Property tax history

+2.6%/yr

Latest (2025): $3,107 · -2.1% YoY. Source: county tax records.