8507 N Akins #102 · North Royalton, OH 44133

$120,000

2 bd · 1.0 ba · 874 sqft · Condo · 9 Days on market

Built 1973 Good condition $311/mo HOA · 18% 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 +23.5/30.0
• 1% rule +9.4/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this stunning first-floor condo in the vibrant heart of North Royalton! This beautifully updated unit is a true gem, offering stylish and modern living in a desirable community. As you step inside, you're greeted by a spacious and inviting living area, bathed in natural light, thanks to the large sliding glass door that seamlessly connects the indoor space to your very own ground-level patio. This outdoor retreat invites you to relax with a morning coffee or host evening gatherings while enjoying peaceful views of the surrounding landscape. The updated kitchen is a highlight, featuring contemporary finishes that blend both functionality and aesthetics. Equipped with sleek applian

Key facts

• First-floor condo
• Ground-level patio
• Updated kitchen

Tags

• FIRST-FLOOR CONDO
• GROUND-LEVEL PATIO
• UPDATED KITCHEN
• MAINTENANCE-FREE LIVING
• EASY ACCESSIBILITY
• LOW-MAINTENANCE LIFESTYLE

Property features AI

Finance

• HOA & community: Homeowners association (Royal Park Condominium Association); Monthly association fee of $311 covering management, insurance, grounds and structure maintenance, parking, recreation facilities, sewer, snow removal, trash, and water

Exterior

• Parking: Assigned detached garage
• Utilities: Public water; Public sewer
• Home design: Single-story building; Entry level: 2
• Construction: Brick construction; Flat roof; Home warranty included
• Exterior features: Public water; Public sewer; Lot approximately 6.89 acres

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating (gas)
• Interior features: Total of 4 rooms
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 8.5% vs local median 2.5% in North Royalton — 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 77/100 on livability (#199 in OH, #3,064 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• North Royalton City (suburban): math 74% / reading 81% proficiency, ranked #60 of 656 in OH (top 9%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 146 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1973 — 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 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?
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: 1.44% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.02%
• DSCR: 1.36
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-4,934
• Equity at exit: $17,892

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $14,992
• Equity at exit: $10,375

Cash invested: $33,600 (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 44133

• Active inventory: 146
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,728 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$311
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $224

Break-even live

Break-even rent $1,443

Max offer price $120,000

Occupancy floor 82%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8290 Royalton Rd North Royalton, OH	1.0–2.0	1.0–2.0	894	$1,882	$2.11	2d	20	0.23mi
9185 Traditions Way North Royalton, OH	1.0–2.0	1.0–2.0	1029	$2,045	$1.99	2d	4	0.27mi
13774 Oakbrook Dr North Royalton, OH	2.0	1.0	705	$1,229	$1.74	2d	15	0.33mi
7475 Glenmont Dr North Royalton, OH	1.0–2.0	1.0–2.0	860	$1,647	$1.91	2d	29	0.64mi
14010 Pine Forest Dr North Royalton, OH	1.0–2.0	1.0	840	$1,309	$1.56	2d	16	1.16mi
11560 Somerset Dr North Royalton, OH	1.0–2.0	1.0–2.0	1075	$1,600	$1.49	2d	1	1.49mi

HOA detail condo

• Monthly dues: $311 · $3,732/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $120,000 Active 9 DOM
2. 2026-06-17
   days on market $120,000 Active 8 DOM
3. 2026-06-16
   days on market $120,000 Active 7 DOM
4. 2026-06-15
   days on market $120,000 Active 6 DOM
5. 2026-06-13
   days on market $120,000 Active 4 DOM
6. 2026-06-10
   remarks 699-char remark
7. 2026-06-10
   listed $120,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,730
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − HOA: −$3,732
• − Depreciation: −$3,491
• Taxable income: $1,068
• Est. tax owed @ 24.0%: −$256
• After-tax cash flow: $2,437/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained and updated condo is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Replace outdoor lighting — Modernizes exterior and improves safety

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Replace outdoor lighting — Modernizes exterior and improves safety ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Royalton City
• NCES district ID: 3904454
• Math proficiency: 74% ▼ -11.00%
• Reading proficiency: 81% ▼ -4.00%
• Median HH income: $69,090
• Composite: 67.39/100
• National rank: #381
• State rank: #60 of 656 in OH

Livability — North Royalton

• Score: 77/100
• State rank: #199
• US rank: #3064

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Royalton, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 31,018
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 31,018
• Household income: $83,717
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 406.0

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 White (87%)
• Race & ethnicity: White 87% Two or more races 5% Asian 5% Hispanic / Latino 4% Black 1%
• Common ancestry: Romanian 12% Subsaharan African 6% Lithuanian 2%
• Foreign-born: 12% · Canada
• Languages at home: 83% English-only · Russian/Polish/Slavic 7% Other Indo-European 3% Spanish 2%

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: ▼ -151.75%
• Current HPI: 199.4398
• 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

1 event — show timeline

• 2026-06-10 Listed $120,000 MLSNOW