966 Windermere Dr · Willoughby, OH 44094

$135,000

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 1 Days on market

Built 1933 2,975 sqft lot Est $154k · 12% under

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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 +24.2/30.0
• ARV discount +12.9/15.0
• DSCR +7.8/10.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Show And Sell This Cute 2 Bdrm Ranch On Double Lot With Woodburning Fireplace In Master Bdrm. New Carpet And New Bath

Key facts

• New hot water tank
• Private backyard
• Covered back patio

Tags

• ONE FLOOR LIVING
• STEPS FROM LAKE ERIE
• PRIVATE BACKYARD
• COVERED BACK PATIO
• DETACHED ONE CAR GARAGE
• NEW HOT WATER TANK

Property features AI

Exterior

• Parking: Detached garage; Driveway; On-street parking; Asphalt surfaces; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-story home; Slab foundation; Vinyl siding; Asphalt/fiberglass roof
• Construction: Built (year per public records); Vinyl siding construction; Asphalt/fiberglass roof; Slab foundation
• Exterior features: Covered patio with awning(s); Partial fencing; Has a view

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Baseboard heating; Ceiling fan(s) for cooling
• Interior features: Updated/remodeled condition; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 8.7% vs local median 2.8% in Willoughby — 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 75/100 on livability (#249 in OH, #3,972 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, 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 (+4.0%/yr); 187 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $933 of loan paydown is wiped out by about $4k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 34y 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 $45k; list at $135k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.57%
• DSCR: 1.38
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $153,600
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38376 N Beachview Rd	0.04mi	1/1.5 (-1)	800 (0%)	14mo	$120,000	$150	80
919 Eaglewood Dr	0.23mi	2/1.0	880 (+10%)	9mo	$169,000	$192	65
6436 Seneca Trl	0.73mi	2/1.0	836 (+4%)	2mo	$171,000	$205	57
6416 Seneca Trl	0.73mi	2/1.0	762 (-5%)	8mo	$170,000	$223	52
997 Mohegan Trl	0.53mi	3/1.0 (+1)	898 (+12%)	14mo	$142,000	$158	39
809 Birchwood Dr	0.52mi	3/1.0 (+1)	900 (+12%)	20mo	$159,000	$177	33

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 · 4.01% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-3,140
• Equity at exit: $20,129

10-year hold

• IRR: 8.6%
• Equity multiple: 1.68×
• Total profit: $25,863
• Equity at exit: $11,672

Cash invested: $37,800 (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 44094

• Rents YoY: 4.0%
• Active inventory: 187
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,494 high
• Mortgage (P&I): −$708
• Tax from tax record: −$146 /mo · $1,753/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $270

Break-even live

Break-even rent $1,152

Max offer price $135,000

Occupancy floor 77%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38280 North Ln Unit J-208 Willoughby, OH	3.0	2.0	1100	$1,400	$1.27	24d	1	0.53mi
38280 North Ln Unit H-206 Willoughby, OH	3.0	2.0	1100	$1,400	$1.27	44d	1	0.53mi
38360 Tamarac Blvd Willoughby, OH	1.0–2.0	1.0–2.0	950	$1,835	$1.93	2d	29	0.77mi
6177 Iroquois Trl Mentor, OH	3.0	1.0	1116	$1,700	$1.52	2d	1	0.78mi
6247 Seneca Rd Mentor, OH	3.0	1.0	912	$1,750	$1.92	2d	1	0.80mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $135,000 Active 1 DOM

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $1,753 · $146/mo
• Projected year-2 tax: $1,930 · $161/mo
• Expected delta: +$176/yr (+$15/mo · 10.1%)

ⓘ 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 ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,928
• − Mortgage interest: −$7,562
• − Property taxes: −$1,753
• − Insurance: −$675
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$3,927
• Taxable income: $1,142
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $2,965/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 — Willoughby

• Score: 75/100
• State rank: #249
• US rank: #3972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willoughby, OH
• County: Lake County · 204,927 people
• City population: 36,873
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 36,873
• Household income: $78,772
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1381.0

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 (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 92% English-only · Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -229.28%
• Current HPI: 179.81
• Rent YoY: ▲ 4.01%
• 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

+246.2% since first listed

12 events — show timeline

• 2026-06-18 Listed $135,000 MLSNOW
• 2018-08-31 Sold (Public Records) $45,000 Public Records
• 2007-11-14 Listing Removed — MLSNOW
• 2007-05-14 Listed $68,900 MLSNOW
• 1994-12-30 Sold (Public Records) $45,000 Public Records
• 1994-12-30 Sold (Public Records) $45,000 Public Records
• 1994-12-30 Sold (MLS) $45,000 MLSNOW
• 1994-12-20 Listing Removed — MLSNOW
• 1993-11-26 Listed $49,900 MLSNOW
• 1992-10-06 Listing Removed — MLSNOW
• 1992-04-06 Listed $45,000 MLSNOW
• 1990-03-30 Sold (Public Records) $39,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,753 · -1.7% YoY. Source: county tax records.