23673 Banbury Cir #13 · Warrensville Heights, OH 44128

$69,900

2 bd · 1.5 ba · 1,116 sqft · Condo public records · 2 Days on market

Built 1963 $125/mo HOA · 10% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity - Vacant, lease comps 1100-1150/month. Needs some minor work and TLC

Key facts

• Move-in-ready condo
• Strong rental appeal
• Easy accessibility

Tags

• MOVE-IN-READY CONDO
• SPACIOUS FUNCTIONAL LAYOUT
• STRONG RENTAL APPEAL
• EASY ACCESSIBILITY
• LOW-MAINTENANCE PLACE
• SOLID INVESTMENT VALUE

Property features AI

Finance

• HOA & community: Homeowners association: Warrensville Townhome HOS; Monthly association fee of $125.23 covering common area maintenance, grounds and structure maintenance, snow removal, and trash

Exterior

• Parking: Parking lot
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service (implied by forced air heating)
• Home design: Entry on level 1
• Construction: Brick construction; Asphalt shingle roof; Built according to public records
• Exterior features: Parking lot; Common area maintenance, grounds and structure maintenance provided by HOA; Snow removal and trash service provided by HOA

Interior

• Kitchen: Range
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating
• Interior features: Total of 4 rooms; Carbon monoxide and smoke detectors
• Laundry & utility: In-unit laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).

Location & tenants

• Location reads 73/100 on livability (#316 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D, commute D-.
• Warrensville Heights City (suburban): math 22% / reading 29% proficiency, ranked #604 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+12.0%/yr); 32 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 33% of the median local income ($44k/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 $483 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $43k; list at $70k implies a 63% gain — meaningful room to come down on a strong offer.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1963 — 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. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.75% ✓
• Cap rate: 12.56%
• Cash-on-cash: 22.40%
• DSCR: 2.00
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 1.95×
• Total profit: $18,509
• Equity at exit: $10,422

10-year hold

• IRR: 33.2%
• Equity multiple: 4.88×
• Total profit: $75,926
• Equity at exit: $6,044

Cash invested: $19,572 (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 44128

• Rents YoY: 12.0%
• Active inventory: 32
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,225 high
• Mortgage (P&I): −$367
• Tax from tax record: −$82 /mo · $984/yr
• Insurance: −$29
• HOA: −$125
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $365

Break-even live

Break-even rent $763

Max offer price $69,900

Occupancy floor 65%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23755 Banbury Cir #10 Cleveland, OH	2.0	1.5	1116	$1,075	$0.96	16d	1	0.04mi
4889 Banbury Ct Warrensville Heights, OH	2.0	2.0	1116	$1,075	$0.96	16d	1	0.15mi
21418 Raymond St Maple Heights, OH	3.0	2.0	1158	$1,695	$1.46	15d	1	0.96mi
5303 Northfield Rd Bedford Heights, OH	2.0	1.0–2.0	712	$1,210	$1.70	2d	28	1.05mi
21111 Raymond St Maple Heights, OH	3.0	1.0	1100	$1,275	$1.16	44d	1	1.08mi
21206 Hillgrove Ave Maple Heights, OH	3.0	1.5	1056	$1,375	$1.30	44d	1	1.10mi
5327 Northfield Rd Bedford, OH	2.0	1.5	850	$950	$1.12	16d	1	1.11mi
21303 Kenyon Dr Maple Heights, OH	3.0	1.0	1215	$1,400	$1.15	44d	1	1.11mi
4340 Clarkwood Pkwy Cleveland, OH	1.0–4.0	1.0–2.0	1007	$917	$0.91	2d	487	1.15mi
21106 Gardenview Dr Maple Heights, OH	3.0	2.0	1188	$1,600	$1.35	2d	1	1.22mi
4360 Northfield Rd Warrensville Heights, OH	2.0	1.0	842	$1,099	$1.31	44d	1	1.28mi
20600 Watson Rd Maple Heights, OH	3.0	1.5	1092	$1,953	$1.79	2d	1	1.28mi
4340 Northfield Rd Warrensville Heights, OH	2.0	1.0	778	$1,019	$1.31	44d	1	1.30mi
21597 Ellacott Pkwy Warrensville Heights, OH	2.0	1.0	842	$1,099	$1.31	44d	1	1.34mi
4326 Northfield Rd Warrensville Heights, OH	2.0	1.0	778	$969	$1.25	44d	1	1.35mi
20517 Mountville Dr Maple Heights, OH	3.0	3.0	1329	$1,731	$1.30	44d	1	1.40mi
20510 Mountville Dr Maple Heights, OH	3.0	1.0	1131	$1,850	$1.64	44d	1	1.42mi
25400 Rockside Rd Bedford Heights, OH	1.0–3.0	1.0–2.0	870	$1,182	$1.36	2d	6	1.43mi
5383 Sunnyslope Rd Maple Heights, OH	1.0–2.0	1.0–1.5	847	$1,075	$1.27	4d	2	1.43mi
21003 Ellacott Pkwy Warrensville Heights, OH	2.0	1.0	842	$1,099	$1.31	44d	1	1.47mi

HOA detail condo

• Monthly dues: $125 · $1,500/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-07
   statusdays on market $69,900 Pending 2 DOM
2. 2026-06-05
   remarks 687-char remark
3. 2026-06-05
   listed $69,900 Active 1 DOM

ⓘ 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: $984 · $82/mo
• Projected year-2 tax: $1,037 · $86/mo
• Expected delta: +$53/yr (+$4/mo · 5.4%)

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

Taxation est. · year 1

• Rental income: $14,704
• − Mortgage interest: −$3,915
• − Property taxes: −$984
• − Insurance: −$350
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − HOA: −$1,500
• − Depreciation: −$2,033
• Taxable income: $3,569
• Est. tax owed @ 24.0%: −$857
• After-tax cash flow: $3,527/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: Warrensville Heights City
• NCES district ID: 3904500
• Math proficiency: 22% ▼ -16.00%
• Reading proficiency: 29% ▼ -15.00%
• Median HH income: $34,622
• Composite: 20.98/100
• National rank: #8467
• State rank: #604 of 656 in OH

Livability — Warrensville Heights

• Score: 73/100
• State rank: #316
• US rank: #5173

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warrensville Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 27,122
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 27,122
• Household income: $43,993
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 2088.0

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 Black (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -83.42%
• Current HPI: 114.0877
• Rent YoY: ▲ 11.96%
• 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

+249.5% since first listed

13 events — show timeline

• 2026-06-04 Listed $69,900 MLSNOW
• 2023-11-17 Sold (Public Records) $43,000 Public Records
• 2023-11-16 Sold (MLS) $43,000 MLSNOW
• 2023-11-10 Pending — MLSNOW
• 2023-11-10 Relisted — MLSNOW
• 2023-11-07 Contingent — MLSNOW
• 2023-11-07 Pending — MLSNOW
• 2023-10-31 Price Changed $48,000 MLSNOW
• 2023-10-23 Listed $50,000 MLSNOW
• 2018-09-28 Sold (Public Records) $55,000 Public Records
• 2005-01-19 Sold (Public Records) $75,000 Public Records
• 2003-12-09 Sold (Public Records) $24,000 Public Records
• 1992-08-06 Sold (Public Records) $20,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $984 · -7.6% YoY. Source: county tax records.