29468 Woodway Dr · Wickliffe, OH 44092

$185,000

3 bd · 1.0 ba · 896 sqft · SingleFamily public records · 4 Days on market

Built 1959 7,013 sqft lot Est $179k · at est.

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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 +11.6/30.0
• ARV discount +6.0/15.0
• Schools +4.6/10.0
• Rent growth +4.5/5.0
• Livability +4.1/5.0
• DSCR +3.4/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this lovely, well-maintained 3-bedroom bungalow full of charm, warmth, and potential! Perfect for a first-time homebuyer or anyone looking to add their personal touch, this home offers comfortable living spaces and endless opportunity. The sun-filled living room features a large picture window that fills the space with natural light, creating a bright and inviting atmosphere. The eat-in kitchen offers classic white cabinetry and includes all appliances-refrigerator, range, washer, and dryer for added convenience. Two bedrooms and a full bath are located on the main floor, while the spacious upstairs bedroom provides the perfect flex space for a private retreat, home office,

Key facts

• Eat-in kitchen
• 7,013 sq ft lot
• 2 garage spots

Tags

• SUN-FILLED LIVING ROOM
• EAT-IN KITCHEN
• DETACHED TWO-CAR GARAGE
• BACKYARD IDEAL FOR RELAXING
• SPACIOUS UPSTAIRS BEDROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-56 ($-675/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (22.0% below list).
• Recommended offer: $144k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.7% in Wickliffe — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 82/100 on livability (#85 in OH, #1,236 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, commute F.
• Wickliffe City (suburban): math 48% / reading 60% proficiency, ranked #386 of 656 in OH (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wickliffe Elementary School (math 62% / reading 57%, grade B-, #670 of 1,584 statewide, top 45%, 528 students, 32% FRL); Wickliffe Middle School (math 48% / reading 60%, grade B-, #352 of 654 statewide, top 55%, 377 students, 39% FRL); Wickliffe High School (math 32% / reading 72%, grade D+, #343 of 781 statewide, top 47%, 432 students, 31% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents rising fast (+8.0%/yr); 69 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,223 (22.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 0.78% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.30%
• DSCR: 0.94
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $179,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
738 Sterling Rd	0.32mi	3/1.0	988 (+10%)	11mo	$213,000	$216	59
852 Lloyd Rd	0.28mi	2/1.0 (-1)	1,001 (+12%)	9mo	$215,000	$215	55
29990 Truman Ave	0.68mi	3/1.0	928 (+4%)	10mo	$159,000	$171	54
420 E 271st St	0.66mi	2/1.0 (-1)	916 (+2%)	10mo	$82,500	$90	52
29971 Regent Rd	0.60mi	3/2.0	936 (+4%)	12mo	$198,605	$212	51
27125 Mallard Ave	0.70mi	3/1.0	976 (+9%)	3mo	$100,000	$102	50
550 E 288th St	0.53mi	3/1.0	1,008 (+12%)	6mo	$165,000	$164	49
29974 Truman Ave	0.66mi	2/1.0 (-1)	928 (+4%)	12mo	$205,000	$221	48
517 Fairway Blvd	0.66mi	2/2.0 (-1)	867 (-3%)	9mo	$135,000	$156	48
29776 Arthur Ave	0.41mi	3/2.0	1,030 (+15%)	10mo	$230,000	$223	44
440 E 271st St	0.66mi	4/1.5 (+1)	1,000 (+12%)	2mo	$145,000	$145	41
29154 Oakdale Rd	0.70mi	3/1.5	1,020 (+14%)	8mo	$204,000	$200	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.50×
• Total profit: $-25,965
• Equity at exit: $27,584

10-year hold

• IRR: 1.7%
• Equity multiple: 1.14×
• Total profit: $7,352
• Equity at exit: $15,995

Cash invested: $51,800 (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 44092

• Rents YoY: 8.0%
• Active inventory: 69
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,442 high
• Mortgage (P&I): −$970
• Tax from tax record: −$148 /mo · $1,780/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-56

Break-even live

Break-even rent $1,513

Max offer price $175,070

Occupancy floor 99%

Sensitivity live

Price	-10% $49	-5% $-4	+0% $-56	+5% $-109	+10% $-161
Rent	-10% $-170	-5% $-113	+0% $-56	+5% $1	+10% $58
Rate	-1.0pp $37	-0.5pp $-9	base $-56	+0.5pp $-104	+1.0pp $-153

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29103 Barjode Rd Willowick, OH	3.0	2.0	1116	$1,950	$1.75	21d	1	0.70mi
26900 Forestview Ave Euclid, OH	3.0	1.0	1098	$1,450	$1.32	0d	1	0.74mi
29210 Green Dr Willowick, OH	3.0	1.0	1002	$1,700	$1.70	0d	1	0.87mi
29007 Foxboro St Willowick, OH	4.0	2.0	976	$1,550	$1.59	19d	1	0.96mi
30050 Euclid Ave Unit A2 Wickliffe, OH	2.0	1.0	1036	$1,350	$1.30	45d	1	1.05mi
611 E 260th St Euclid, OH	3.0	1.0	875	$1,595	$1.82	45d	1	1.12mi
25611 Lakeshore Blvd Unit F11 Euclid, OH	2.0	1.0	925	$995	$1.08	45d	1	1.19mi
25311 Lakeshore Blvd Unit C14 Euclid, OH	2.0	1.0	925	$995	$1.08	45d	1	1.28mi
30446 Euclid Ave Wickliffe, OH	2.0	1.5	1044	$1,350	$1.29	45d	1	1.36mi

Listing history 4 events

1. 2026-06-02
   status $185,000 Pending 4 DOM
2. 2026-06-01
   days on market $185,000 Active 4 DOM
3. 2026-05-31
   days on market $185,000 Active 3 DOM
4. 2026-05-26
   listed $185,000 Active

ⓘ 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: $1,780 · $148/mo
• Projected year-2 tax: $2,333 · $194/mo
• Expected delta: +$553/yr (+$46/mo · 31.1%)

ⓘ 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 ≥94°F today · 17 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: $17,307
• − Mortgage interest: −$10,363
• − Property taxes: −$1,780
• − Insurance: −$925
• − Repairs & maintenance: −$1,385
• − Management: −$1,385
• − Depreciation: −$5,382
• Taxable loss: −$3,912
• Est. tax savings @ 24.0%: +$939
• After-tax cash flow: $264/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: Wickliffe City
• NCES district ID: 3904508
• Math proficiency: 48% ▼ -14.00%
• Reading proficiency: 60% ▼ -8.00%
• Median HH income: $48,233
• Composite: 45.89/100
• National rank: #2551
• State rank: #386 of 656 in OH

Livability — Wickliffe

• Score: 82/100
• State rank: #85
• US rank: #1236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wickliffe, OH
• County: Lake County · 204,927 people
• City population: 17,587
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 17,587
• Household income: $70,801
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 572.0

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 (78%)
• Race & ethnicity: White 78% Black 12% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Iranian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Russian/Polish/Slavic 3% Spanish 1% Other Indo-European 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: ▼ -126.67%
• Current HPI: 161.3288
• Rent YoY: ▲ 8.03%
• 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

1 event — show timeline

• 2026-05-26 Listed $185,000 MLSNOW

Property tax history

+0.9%/yr

Latest (2025): $1,780 · -27.2% YoY. Source: county tax records.