13622 Oakbrook Dr #3622 · North Royalton, OH 44133

$139,900

3 bd · 1.5 ba · 1,148 sqft · Condo public records · 1 Days on market

Built 1974 $243/mo HOA · 13% of rent

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Why this score? — see what drove the C 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 +21.6/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Schools +6.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fresh paint and new luxury vinyl flooring provide a neutral canvas for you to make this 3 bedroom, 1.5 bath condo your own. Build equity while enjoying low maintenance living. Priced for you to choose your own finishing touches. The first floor includes a convenient laundry area, half bath, and the open living room and kitchen/dinette, with sliding doors leading to the patio. Upstairs are 3 good sized bedrooms with large closets, the full bath with new flooring and toilet, with a tub shower combo. Attractive vinyl replacement windows allow plenty of natural light in all of the spaces. A community swimming pool and recreation area allow for outdoor fun without leaving your own neighborhood.

Key facts

• Open living room
• Large closets
• $243 HOA

Tags

• NEW LUXURY VINYL FLOORING
• CONVENIENT LAUNDRY AREA
• OPEN LIVING ROOM
• SLIDING DOORS LEADING TO PATIO
• LARGE CLOSETS
• VINYL REPLACEMENT WINDOWS

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Monthly association fee of $243 covering association management, grounds and structure maintenance, recreation facilities, and trash

Exterior

• Parking: Attached garage with direct access; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story property; Entry level 3622; Attached property
• Construction: Vinyl siding; Asphalt/fiberglass roof
• Exterior features: Patio; Private pool

Interior

• Kitchen: Dishwasher; Disposal
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating (gas)
• Interior features: Double pane windows
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.1% 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; 7 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 $967 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $74k; list at $140k implies a 89% gain — meaningful room to come down on a strong offer.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1974 — 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: 1.29% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 6.5

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-8,879
• Equity at exit: $20,860

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $10,514
• Equity at exit: $12,096

Cash invested: $39,172 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,800 high
• Mortgage (P&I): −$734
• Tax from tax record: −$174 /mo · $2,083/yr
• Insurance: −$58
• HOA: −$243
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $214

Break-even live

Break-even rent $1,530

Max offer price $139,900

Occupancy floor 83%

Sensitivity live

Price	-10% $293	-5% $253	+0% $214	+5% $174	+10% $135
Rent	-10% $72	-5% $143	+0% $214	+5% $285	+10% $356
Rate	-1.0pp $284	-0.5pp $249	base $214	+0.5pp $178	+1.0pp $141

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13774 Oakbrook Dr North Royalton, OH	2.0	1.0	705	$1,229	$1.74	3d	15	0.06mi
9185 Traditions Way North Royalton, OH	1.0–2.0	1.0–2.0	1029	$2,045	$1.99	3d	4	0.21mi
8290 Royalton Rd North Royalton, OH	1.0–2.0	1.0–2.0	894	$1,882	$2.11	3d	20	0.25mi
7475 Glenmont Dr North Royalton, OH	1.0–2.0	1.0–2.0	860	$1,647	$1.91	3d	29	0.53mi
14010 Pine Forest Dr North Royalton, OH	1.0–2.0	1.0	840	$1,309	$1.56	3d	16	1.14mi
11560 Somerset Dr North Royalton, OH	1.0–2.0	1.0–2.0	1075	$1,600	$1.49	3d	1	1.38mi
5301 Royalwood Rd North Royalton, OH	2.0	1.0	900	$1,242	$1.38	3d	2	1.49mi

HOA detail condo

• Monthly dues: $243 · $2,916/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-22
   status Pending
2. 2026-05-21
   listed $139,900 Active
3. 1998-08-28
   soldstatus $74,000
4. 1996-03-26
   soldstatus $78,500
5. 1989-03-24
   soldstatus $53,000
6. 1986-06-25
   soldstatus $50,000

ⓘ 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: $2,083 · $174/mo
• Projected year-2 tax: $2,133 · $178/mo
• Expected delta: +$50/yr (+$4/mo · 2.4%)

ⓘ 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 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $21,604
• − Mortgage interest: −$7,837
• − Property taxes: −$2,083
• − Insurance: −$700
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − HOA: −$2,916
• − Depreciation: −$4,070
• Taxable income: $543
• Est. tax owed @ 24.0%: −$130
• After-tax cash flow: $2,435/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

+179.8% since first listed

6 events — show timeline

• 2026-05-22 Pending — MLSNOW
• 2026-05-21 Listed $139,900 MLSNOW
• 1998-08-28 Sold (Public Records) $74,000 Public Records
• 1996-03-26 Sold (Public Records) $78,500 Public Records
• 1989-03-24 Sold (Public Records) $53,000 Public Records
• 1986-06-25 Sold (Public Records) $50,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,083 · -6.8% YoY. Source: county tax records.