5200 Royalton Rd Unit A11 · North Royalton, OH 44133

$64,900

2 bd · 1.0 ba · 924 sqft · Condo public records · 92 Days on market

Built 1967 $70/sqft · 37% below area Est $103k · 37% under $629/mo HOA · 42% of rent

---

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 +19.7/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Schools +6.7/10.0
• DSCR +6.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 2-bedroom, 1-bath condo in North Royalton, Ohio! This upper-level unit features a dedicated parking space and offers a great opportunity for both first-time buyers and investors alike. With its functional layout and low-maintenance living, this condo is perfect as a starter home or a solid addition to your rental portfolio. Don’t miss your chance to own in a desirable location—schedule your showing today!

Key facts

• $629 HOA
• Garage
• Built 1967

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $76 ($916/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.6% 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: crime A+, cost of living A+, housing 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.
• Zoned schools: North Royalton Elementary School (math 84% / reading 77%, grade A+, #159 of 1,584 statewide, top 10%, 1,308 students, 20% FRL); North Royalton Middle School (math 72% / reading 82%, grade A, #70 of 654 statewide, top 11%, 1,132 students, 21% FRL); North Royalton High School (math 63% / reading 85%, grade B+, #83 of 781 statewide, top 11%, 1,314 students, 17% FRL).
• Market conditions: 151 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $449 of loan paydown is wiped out by about $2k 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

• It's been on market 92 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 30y ago; this cycle's ask has dropped $25k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $59,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 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 1967 — 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 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?
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: 2.31% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.04%
• DSCR: 1.22
• GRM: 3.6

CMA / ARV

• ARV (median comp): $103,069
• List price: $64,900
• Delta: -37.03%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-5,223
• Equity at exit: $9,677

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $3,459
• Equity at exit: $5,611

Cash invested: $18,172 (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: 151
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,502 high
• Mortgage (P&I): −$340
• Tax from tax record: −$114 /mo · $1,367/yr
• Insurance: −$27
• HOA: −$629
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $76

Break-even live

Break-even rent $1,405

Max offer price $64,900

Occupancy floor 90%

Sensitivity live

Price	-10% $113	-5% $95	+0% $76	+5% $58	+10% $40
Rent	-10% $-42	-5% $17	+0% $76	+5% $136	+10% $195
Rate	-1.0pp $109	-0.5pp $93	base $76	+0.5pp $60	+1.0pp $42

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14010 Pine Forest Dr North Royalton, OH	1.0–2.0	1.0	840	$1,309	$1.56	3d	16	0.36mi
5301 Royalwood Rd North Royalton, OH	2.0	1.0	900	$1,242	$1.38	3d	2	0.49mi
7475 Glenmont Dr North Royalton, OH	1.0–2.0	1.0–2.0	860	$1,647	$1.91	3d	29	0.94mi
8290 Royalton Rd North Royalton, OH	1.0–2.0	1.0–2.0	894	$1,882	$2.11	3d	20	1.29mi
13774 Oakbrook Dr North Royalton, OH	2.0	1.0	705	$1,229	$1.74	3d	15	1.49mi

HOA detail condo

• Monthly dues: $629 · $7,548/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-21
   days on market $64,900 Active 92 DOM
2. 2026-06-18
   days on market $64,900 Active 89 DOM
3. 2026-06-17
   days on market $64,900 Active 88 DOM
4. 2026-06-16
   days on market $64,900 Active 87 DOM
5. 2026-06-15
   days on market $64,900 Active 86 DOM
6. 2026-06-13
   pricedays on market $64,900 Active 84 DOM
7. 2026-06-09
   days on market $69,900 Active 80 DOM
8. 2026-06-08
   days on market $69,900 Active 79 DOM
9. 2026-06-07
   days on market $69,900 Active 78 DOM
10. 2026-06-03
    days on market $69,900 Active 74 DOM
11. 2026-06-02
    days on market $69,900 Active 73 DOM
12. 2026-06-01
    days on market $69,900 Active 72 DOM
13. 2026-05-31
    days on market $69,900 Active 71 DOM
14. 2026-05-07
    price $69,900 445-char remark

    Show marketing remark (445 chars)

    Welcome to this charming 2-bedroom, 1-bath condo in North Royalton, Ohio! This upper-level unit features a dedicated parking space and offers a great opportunity for both first-time buyers and investors alike. With its functional layout and low-maintenance living, this condo is perfect as a starter home or a solid addition to your rental portfolio. Don’t miss your chance to own in a desirable location—schedule your showing today!

15. 2026-04-23
    price $74,900 445-char remark

    Show marketing remark (445 chars)

    Welcome to this charming 2-bedroom, 1-bath condo in North Royalton, Ohio! This upper-level unit features a dedicated parking space and offers a great opportunity for both first-time buyers and investors alike. With its functional layout and low-maintenance living, this condo is perfect as a starter home or a solid addition to your rental portfolio. Don’t miss your chance to own in a desirable location—schedule your showing today!

16. 2026-04-09
    price $79,900 445-char remark

    Show marketing remark (445 chars)

    Welcome to this charming 2-bedroom, 1-bath condo in North Royalton, Ohio! This upper-level unit features a dedicated parking space and offers a great opportunity for both first-time buyers and investors alike. With its functional layout and low-maintenance living, this condo is perfect as a starter home or a solid addition to your rental portfolio. Don’t miss your chance to own in a desirable location—schedule your showing today!

17. 2026-03-21
    listed $89,900 Active 445-char remark

    Show marketing remark (445 chars)

    Welcome to this charming 2-bedroom, 1-bath condo in North Royalton, Ohio! This upper-level unit features a dedicated parking space and offers a great opportunity for both first-time buyers and investors alike. With its functional layout and low-maintenance living, this condo is perfect as a starter home or a solid addition to your rental portfolio. Don’t miss your chance to own in a desirable location—schedule your showing today!

18. 2026-02-12
    historical
19. 2026-01-20
    price $94,500
20. 2026-01-05
    listed $104,000 Active
21. 2025-06-30
    historical
22. 2025-06-06
    price $104,900
23. 2025-05-13
    listed $109,900 Active
24. 2024-11-20
    soldstatus $104,000
25. 2024-11-19
    soldstatus $104,000 Closed
26. 2024-10-06
    status Pending
27. 2024-10-02
    listed $100,000 Active
28. 2021-12-21
    soldstatus $69,900
29. 2021-12-17
    soldstatus $69,900 Closed
30. 2021-11-23
    status Pending
31. 2021-11-18
    listed $69,900 Active
32. 2004-03-26
    soldstatus $45,000
33. 1996-05-28
    soldstatus $37,900
34. 1996-05-09
    soldstatus $37,900
35. 1996-04-03
    listed $39,500
36. 1979-03-12
    soldstatus $35,900

ⓘ 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: $1,367 · $114/mo
• Projected year-2 tax: $1,367 · $114/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
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $18,025
• − Mortgage interest: −$3,635
• − Property taxes: −$1,367
• − Insurance: −$324
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − HOA: −$7,548
• − Depreciation: −$1,888
• Taxable income: $378
• Est. tax owed @ 24.0%: −$91
• After-tax cash flow: $826/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: 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

+94.7% since first listed

23 events — show timeline

• 2026-05-07 Price Changed $69,900 MLSNOW
• 2026-04-23 Price Changed $74,900 MLSNOW
• 2026-04-09 Price Changed $79,900 MLSNOW
• 2026-03-21 Listed $89,900 MLSNOW
• 2026-02-12 Listing Removed — MLSNOW
• 2026-01-20 Price Changed $94,500 MLSNOW
• 2026-01-05 Listed $104,000 MLSNOW
• 2025-06-30 Listing Removed — MLSNOW
• 2025-06-06 Price Changed $104,900 MLSNOW
• 2025-05-13 Listed $109,900 MLSNOW
• 2024-11-20 Sold (Public Records) $104,000 Public Records
• 2024-11-19 Sold (MLS) $104,000 MLSNOW
• 2024-10-06 Pending — MLSNOW
• 2024-10-02 Listed $100,000 MLSNOW
• 2021-12-21 Sold (Public Records) $69,900 Public Records
• 2021-12-17 Sold (MLS) $69,900 MLSNOW
• 2021-11-23 Pending — MLSNOW
• 2021-11-18 Listed $69,900 MLSNOW
• 2004-03-26 Sold (Public Records) $45,000 Public Records
• 1996-05-28 Sold (Public Records) $37,900 Public Records
• 1996-05-09 Sold (MLS) $37,900 MLSNOW
• 1996-04-03 Listed $39,500 MLSNOW
• 1979-03-12 Sold (Public Records) $35,900 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,367 · -5.9% YoY. Source: county tax records.