31622 N Marginal Dr Unit B-105 · Willowick, OH 44095

$69,900

1 bd · 1.0 ba · 640 sqft · Condo public records · 18 Days on market

Built 1978 $254/mo HOA · 23% of rent

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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 +22.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WHY RENT when you can Own this 1 Bedroom Bayridge Condo!! This beautifully maintained & updated 1st floor unit has been freshly painted with all new carpeting & wood engineered flooring throughout. Living Room with large bay window & bookcase open to the updated Eat-in Kitchen with stove & new fridge. Full Bath remodeled with new vanity/sink, tub/surround & flooring. Use of common laundry room & 2nd floor storage locker included. Monthly maintenance fee includes water, sewer, heating and trash. Close to shopping, restaurants & easy freeway access. Just 20 minutes east of downtown Cleveland! Willoughby-Eastlake Schools. Move-in Ready & Immediat

Key facts

• Move-in ready
• Easy freeway access
• Common laundry room

Tags

• UPDATED EAT-IN KITCHEN
• REMODELED FULL BATH
• COMMON LAUNDRY ROOM
• 2ND FLOOR STORAGE LOCKER
• EASY FREEWAY ACCESS
• MOVE-IN READY

Property features AI

Finance

• Financial info: Pets allowed: cats and dogs (with number limit)
• HOA & community: Monthly association fee of $254.60; HOA covers management, heat, insurance, grounds and structure maintenance, reserve fund, sewer, snow removal, trash, and water

Exterior

• Parking: Shared parking lot
• Utilities: Public water; Public sewer
• Home design: Single-story unit; Entry level 1
• Construction: Brick construction; Asphalt/fiberglass roof
• Exterior features: Parking lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet in living areas and bedroom
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard electric heating; Wall cooling unit(s)
• Interior features: Total of 4 rooms; South-facing entry
• Laundry & utility: Laundry in a common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.4% in Willowick — 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 84/100 on livability (#50 in OH, #706 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, cost of living A+; Watch: commute F.
• Willoughby-Eastlake City (suburban): math 42% / reading 58% proficiency, ranked #434 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 132 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 448 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

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.
• Lake 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 + 4.8% rent growth), your $20k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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. Schools are B-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?
6. 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.
7. 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.
8. 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: 1.57% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.81% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-1,605
• Equity at exit: $10,422

10-year hold

• IRR: 10.3%
• Equity multiple: 1.90×
• Total profit: $17,670
• 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 44095

• Rents YoY: 4.8%
• Active inventory: 132
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$100 /mo · $1,200/yr
• Insurance: −$29
• HOA: −$254
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $118

Break-even live

Break-even rent $949

Max offer price $69,900

Occupancy floor 84%

Sensitivity live

Price	-10% $157	-5% $138	+0% $118	+5% $98	+10% $78
Rent	-10% $31	-5% $74	+0% $118	+5% $161	+10% $205
Rate	-1.0pp $153	-0.5pp $136	base $118	+0.5pp $100	+1.0pp $81

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 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30600 Euclid Ave Wickliffe, OH	1.0	1.0	750	$948	$1.26	17d	1	0.55mi
35124 Euclid Ave Willoughby, OH	1.0	1.0	673	$1,162	$1.73	2d	2	1.10mi
33201 Vine St Willowick, OH	1.0–2.0	1.0	621	$1,100	$1.77	21d	1	1.17mi
33145 Vine St Willowick, OH	1.0	1.0	500	$950	$1.90	24d	1	1.24mi

HOA detail condo

• Monthly dues: $254 · $3,048/yr
• Likely covers: watersewertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-05
   historical Contingent 712-char remark
2. 2026-05-01
   listed $69,900 Active 712-char remark
3. 1992-08-21
   soldstatus $27,750
4. 1992-06-10
   soldstatus $26,000

ⓘ 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: $1,200 · $100/mo
• Projected year-2 tax: $1,200 · $100/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 ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,178
• − Mortgage interest: −$3,915
• − Property taxes: −$1,200
• − Insurance: −$350
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − HOA: −$3,048
• − Depreciation: −$2,033
• Taxable income: $523
• Est. tax owed @ 24.0%: −$125
• After-tax cash flow: $1,289/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: Willoughby-Eastlake City
• NCES district ID: 3904510
• Math proficiency: 42% ▼ -21.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $52,500
• Composite: 42.96/100
• National rank: #3110
• State rank: #434 of 656 in OH

Livability — Willowick

• Score: 84/100
• State rank: #50
• US rank: #706

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willowick, OH
• County: Lake County · 204,927 people
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 32,363
• Household income: $71,543
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 590.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 230,022 people
• By 2030: 228,151 · -0.8%
• By 2040: 221,018 · -3.9%
• By 2050: 212,754 · -7.5%
• By 2075: 200,309 · -12.9%
• By 2100: 183,315 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Russian/Polish/Slavic 3% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Lake

• 2024 margin: R (+14.3) · D 42.4% · R 56.7%
• 2008→2024 swing: -15.2pp toward R · 2008: 0.8pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+13.6 2016: R+15.6 2012: R+1.7 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.78%
• Current HPI: 171.8121
• Rent YoY: ▲ 4.81%
• 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

+168.8% since first listed

6 events — show timeline

• 2026-06-05 Sold (MLS) $69,900 MLSNOW
• 2026-05-19 Pending — MLSNOW
• 2026-05-05 Contingent — MLSNOW
• 2026-05-01 Listed $69,900 MLSNOW
• 1992-08-21 Sold (Public Records) $27,750 Public Records
• 1992-06-10 Sold (Public Records) $26,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,200 · -2.0% YoY. Source: county tax records.