17650 Walnut Trl · Bainbridge, OH 44023

$230,000

3 bd · 2.5 ba · 1,740 sqft · Condo public records · 100 Days on market

Built 1978 $132/sqft · 18% below area Est $280k · 18% under $563/mo HOA · 16% 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 +26.9/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• Schools +7.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated in the beloved Tanglewood Lake community in Bainbridge, this wonderful condo offers comfortable living, generous space, and access to outstanding neighborhood amenities. An inviting entry welcomes you into the spacious living room, highlighted by a a perfectly placed bookshelf and sliding doors that lead to the private back deck. The light-filled kitchen is both functional and inviting, featuring an eat-in breakfast area, center island, abundant countertop space, and ample cabinetry for storage. Convenience is key with a roomy coat closet and a well-placed half bath located just off the entry, ideal for guests and everyday comings and goings. Upstairs, you’ll find three comfortable bedrooms and two full baths. The primary suite features high ceilings and an attached bath with a large vanity. Two additional bedrooms share a renovated hall bath featuring new countertops, flooring, and lighting. The lower level provides valuable additional living space and can easily serve as a recreation room, home gym or play area—offering flexibility to suit your lifestyle. Recent updates include a new deck (2022), kitchen updates including counters, appliances, lighting and flooring (2012), upstairs secondary full bath renovation (2024) and more! See supplements for details. Warm weather will be enjoyed taking advantage of all the amenities of Tanglewood Lake, including the private lake, beach access and playground.

Key facts

• Roomy coat closet
• Private back deck
• Ample cabinetry

Tags

• PRIVATE BACK DECK
• BUILT-IN BOOKSHELF
• EAT-IN BREAKFAST AREA
• CENTER ISLAND
• AMPLE CABINETRY
• ROOMY COAT CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Recommended offer: $209k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.1% in Bainbridge — 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 68/100 on livability (#546 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Kenston Local (suburban): math 82% / reading 84% proficiency, ranked #24 of 656 in OH (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Timmons Elementary School (math 92% / reading 77%, grade A+, #68 of 1,584 statewide, top 6%, 798 students, 6% FRL); Kenston Middle School (math 80% / reading 83%, grade A+, #36 of 654 statewide, top 6%, 602 students, 10% FRL); Kenston High School (math 78% / reading 90%, grade A, #17 of 781 statewide, top 2%, 790 students, 7% FRL) — zoned schools at 8% FRL track the district average.
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 220 units permitted in Geauga County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($130k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Geauga County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $142k; list at $230k implies a 62% gain — meaningful room to come down on a strong offer.

Recommended offer $209,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.57% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.81%
• DSCR: 1.53
• GRM: 5.3

CMA / ARV

• ARV (median comp): $279,598
• List price: $230,000
• Delta: -17.74%
• 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: 1.4%
• Equity multiple: 1.05×
• Total profit: $3,533
• Equity at exit: $34,294

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $56,826
• Equity at exit: $19,886

Cash invested: $64,400 (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 44023

• Active inventory: 94
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $3,600 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$345 /mo · $4,143/yr
• Insurance: −$96
• HOA: −$563
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $634

Break-even live

Break-even rent $2,798

Max offer price $230,000

Occupancy floor 77%

Sensitivity live

Price	-10% $764	-5% $699	+0% $634	+5% $569	+10% $504
Rent	-10% $349	-5% $492	+0% $634	+5% $776	+10% $918
Rate	-1.0pp $750	-0.5pp $692	base $634	+0.5pp $574	+1.0pp $514

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17836 Kingswood Dr Chagrin Falls, OH	4.0	2.0	2200	$3,600	$1.64	12d	1	0.70mi

HOA detail condo

• Monthly dues: $563 · $6,756/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   statusdays on market $230,000 Contingent 100 DOM
2. 2026-06-18
   days on market $230,000 Active 97 DOM
3. 2026-06-17
   days on market $230,000 Active 96 DOM
4. 2026-06-16
   days on market $230,000 Active 95 DOM
5. 2026-06-15
   days on market $230,000 Active 94 DOM
6. 2026-06-13
   days on market $230,000 Active 92 DOM
7. 2026-06-13
   days on market $230,000 Active 91 DOM
8. 2026-06-09
   days on market $230,000 Active 88 DOM
9. 2026-06-08
   pricedays on market $230,000 Active 87 DOM
10. 2026-06-07
    days on market $245,000 Active 86 DOM
11. 2026-06-05
    days on market $245,000 Active 83 DOM
12. 2026-06-03
    days on market $245,000 Active 82 DOM
13. 2026-06-02
    days on market $245,000 Active 81 DOM
14. 2026-06-01
    days on market $245,000 Active 80 DOM
15. 2026-05-31
    days on market $245,000 Active 79 DOM
16. 2026-05-11
    price $245,000 1444-char remark

    Show marketing remark (1444 chars)

    Situated in the beloved Tanglewood Lake community in Bainbridge, this wonderful condo offers comfortable living, generous space, and access to outstanding neighborhood amenities. An inviting entry welcomes you into the spacious living room, highlighted by a a perfectly placed bookshelf and sliding doors that lead to the private back deck. The light-filled kitchen is both functional and inviting, featuring an eat-in breakfast area, center island, abundant countertop space, and ample cabinetry for storage. Convenience is key with a roomy coat closet and a well-placed half bath located just off the entry, ideal for guests and everyday comings and goings. Upstairs, you’ll find three comfortable bedrooms and two full baths. The primary suite features high ceilings and an attached bath with a large vanity. Two additional bedrooms share a renovated hall bath featuring new countertops, flooring, and lighting. The lower level provides valuable additional living space and can easily serve as a recreation room, home gym or play area—offering flexibility to suit your lifestyle. Recent updates include a new deck (2022), kitchen updates including counters, appliances, lighting and flooring (2012), upstairs secondary full bath renovation (2024) and more! See supplements for details. Warm weather will be enjoyed taking advantage of all the amenities of Tanglewood Lake, including the private lake, beach access and playground.

17. 2026-04-17
    status Active 1444-char remark

    Show marketing remark (1444 chars)

    Situated in the beloved Tanglewood Lake community in Bainbridge, this wonderful condo offers comfortable living, generous space, and access to outstanding neighborhood amenities. An inviting entry welcomes you into the spacious living room, highlighted by a a perfectly placed bookshelf and sliding doors that lead to the private back deck. The light-filled kitchen is both functional and inviting, featuring an eat-in breakfast area, center island, abundant countertop space, and ample cabinetry for storage. Convenience is key with a roomy coat closet and a well-placed half bath located just off the entry, ideal for guests and everyday comings and goings. Upstairs, you’ll find three comfortable bedrooms and two full baths. The primary suite features high ceilings and an attached bath with a large vanity. Two additional bedrooms share a renovated hall bath featuring new countertops, flooring, and lighting. The lower level provides valuable additional living space and can easily serve as a recreation room, home gym or play area—offering flexibility to suit your lifestyle. Recent updates include a new deck (2022), kitchen updates including counters, appliances, lighting and flooring (2012), upstairs secondary full bath renovation (2024) and more! See supplements for details. Warm weather will be enjoyed taking advantage of all the amenities of Tanglewood Lake, including the private lake, beach access and playground.

18. 2026-04-17
    price $260,000 1444-char remark

    Show marketing remark (1444 chars)

    Situated in the beloved Tanglewood Lake community in Bainbridge, this wonderful condo offers comfortable living, generous space, and access to outstanding neighborhood amenities. An inviting entry welcomes you into the spacious living room, highlighted by a a perfectly placed bookshelf and sliding doors that lead to the private back deck. The light-filled kitchen is both functional and inviting, featuring an eat-in breakfast area, center island, abundant countertop space, and ample cabinetry for storage. Convenience is key with a roomy coat closet and a well-placed half bath located just off the entry, ideal for guests and everyday comings and goings. Upstairs, you’ll find three comfortable bedrooms and two full baths. The primary suite features high ceilings and an attached bath with a large vanity. Two additional bedrooms share a renovated hall bath featuring new countertops, flooring, and lighting. The lower level provides valuable additional living space and can easily serve as a recreation room, home gym or play area—offering flexibility to suit your lifestyle. Recent updates include a new deck (2022), kitchen updates including counters, appliances, lighting and flooring (2012), upstairs secondary full bath renovation (2024) and more! See supplements for details. Warm weather will be enjoyed taking advantage of all the amenities of Tanglewood Lake, including the private lake, beach access and playground.

19. 2026-03-28
    historical Contingent 1444-char remark

    Show marketing remark (1444 chars)

    Situated in the beloved Tanglewood Lake community in Bainbridge, this wonderful condo offers comfortable living, generous space, and access to outstanding neighborhood amenities. An inviting entry welcomes you into the spacious living room, highlighted by a a perfectly placed bookshelf and sliding doors that lead to the private back deck. The light-filled kitchen is both functional and inviting, featuring an eat-in breakfast area, center island, abundant countertop space, and ample cabinetry for storage. Convenience is key with a roomy coat closet and a well-placed half bath located just off the entry, ideal for guests and everyday comings and goings. Upstairs, you’ll find three comfortable bedrooms and two full baths. The primary suite features high ceilings and an attached bath with a large vanity. Two additional bedrooms share a renovated hall bath featuring new countertops, flooring, and lighting. The lower level provides valuable additional living space and can easily serve as a recreation room, home gym or play area—offering flexibility to suit your lifestyle. Recent updates include a new deck (2022), kitchen updates including counters, appliances, lighting and flooring (2012), upstairs secondary full bath renovation (2024) and more! See supplements for details. Warm weather will be enjoyed taking advantage of all the amenities of Tanglewood Lake, including the private lake, beach access and playground.

20. 2026-03-13
    listed $270,000 Active 1444-char remark

    Show marketing remark (1444 chars)

    Situated in the beloved Tanglewood Lake community in Bainbridge, this wonderful condo offers comfortable living, generous space, and access to outstanding neighborhood amenities. An inviting entry welcomes you into the spacious living room, highlighted by a a perfectly placed bookshelf and sliding doors that lead to the private back deck. The light-filled kitchen is both functional and inviting, featuring an eat-in breakfast area, center island, abundant countertop space, and ample cabinetry for storage. Convenience is key with a roomy coat closet and a well-placed half bath located just off the entry, ideal for guests and everyday comings and goings. Upstairs, you’ll find three comfortable bedrooms and two full baths. The primary suite features high ceilings and an attached bath with a large vanity. Two additional bedrooms share a renovated hall bath featuring new countertops, flooring, and lighting. The lower level provides valuable additional living space and can easily serve as a recreation room, home gym or play area—offering flexibility to suit your lifestyle. Recent updates include a new deck (2022), kitchen updates including counters, appliances, lighting and flooring (2012), upstairs secondary full bath renovation (2024) and more! See supplements for details. Warm weather will be enjoyed taking advantage of all the amenities of Tanglewood Lake, including the private lake, beach access and playground.

21. 1999-01-27
    soldstatus $142,300
22. 1998-12-07
    historical
23. 1998-09-07
    listed $146,500
24. 1992-12-18
    soldstatus $117,900
25. 1987-02-03
    soldstatus $98,000
26. 1985-09-06
    soldstatus $88,000
27. 1985-06-07
    soldstatus $164,000
28. 1985-02-19
    soldstatus $56,667

ⓘ 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: $4,143 · $345/mo
• Projected year-2 tax: $4,143 · $345/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 2/10 Low 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,200
• − Mortgage interest: −$12,884
• − Property taxes: −$4,143
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,456
• − Management: −$3,456
• − HOA: −$6,756
• − Depreciation: −$6,691
• Taxable income: $4,665
• Est. tax owed @ 24.0%: −$1,120
• After-tax cash flow: $6,486/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: Kenston Local
• NCES district ID: 3904719
• Math proficiency: 82% ▼ -7.00%
• Reading proficiency: 84% ▼ -6.00%
• Median HH income: $98,273
• Composite: 74.76/100
• National rank: #150
• State rank: #24 of 656 in OH

Livability — Bainbridge

• Score: 68/100
• State rank: #546
• US rank: #9170

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bainbridge, OH
• County: Geauga · 90,510 people
• Metro: Cleveland, OH
• Population (ZIP): 18,905
• Household income: $130,452
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 2.0

Population outlook (Geauga County) Hauer SSP2

• Today (2025): 94,919 people
• By 2030: 94,804 · -0.1%
• By 2040: 92,641 · -2.4%
• By 2050: 88,198 · -7.1%
• By 2075: 79,080 · -16.7%
• By 2100: 60,856 · -35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Black 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 9% Slovak 3% Scotch-Irish 2%
• Foreign-born: 3% · Canada, Vietnam, Jamaica
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1% Tagalog/Filipino 1%

Political lean MEDSL · Geauga

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.7%
• 2008→2024 swing: -8.8pp toward R · 2008: -15.4pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+23.1 2016: R+25.5 2012: R+21.6 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.84%
• Current HPI: 196.7428
• Rent YoY: —
• Metro: —
• 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

+332.4% since first listed

13 events — show timeline

• 2026-05-11 Price Changed $245,000 MLSNOW
• 2026-04-17 Relisted — MLSNOW
• 2026-04-17 Price Changed $260,000 MLSNOW
• 2026-03-28 Contingent — MLSNOW
• 2026-03-13 Listed $270,000 MLSNOW
• 1999-01-27 Sold (MLS) $142,300 MLSNOW
• 1998-12-07 Listing Removed — MLSNOW
• 1998-09-07 Listed $146,500 MLSNOW
• 1992-12-18 Sold (Public Records) $117,900 Public Records
• 1987-02-03 Sold (Public Records) $98,000 Public Records
• 1985-09-06 Sold (Public Records) $88,000 Public Records
• 1985-06-07 Sold (Public Records) $164,000 Public Records
• 1985-02-19 Sold (Public Records) $56,667 Public Records

Property tax history

+4.4%/yr

Latest (2025): $4,143 · +3.1% YoY. Source: county tax records.