2736 Pease Dr Unit 215N · Rocky River, OH 44116

$125,000

2 bd · 1.5 ba · 911 sqft · Condo public records · 11 Days on market

Built 1968 $352/mo HOA · 25% of rent

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Why this score? — see what drove the D 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 +8.1/30.0
• ARV discount +7.5/15.0
• Schools +7.4/10.0
• 1% rule +6.1/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely updated second floor Ranch. .. end unit! Spacious two bedroom with one full and one half bath. Spacious living room with brick wood burning fireplace. Master bedroom with private bath and large walk-in closet. Eat-in updated kitchen with all appliances. Both baths nicely updated. This unit is clean with neutral décor throughout! Newer furnace, A/C, and windows. A great location. .. walking distance to shopping, movie theater & public transportation!!!

Key facts

• Private half bath
• Added storage locker
• Laundry in building

Tags

• EXTRA NATURAL LIGHT
• PRIVATE HALF BATH
• LARGE WALK-IN CLOSET
• ADDED STORAGE LOCKER
• LAUNDRY IN BUILDING
• SECURE KEY CARD ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-123 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (17.4% below list).
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $103k (17.4% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 2.1% in Rocky River — 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 89/100 on livability (#9 in OH, #112 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: commute F.
• Rocky River City (suburban): math 84% / reading 89% proficiency, ranked #26 of 656 in OH (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 112 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent is only 18% of the median local income ($94k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 33y 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 $68k; list at $125k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $103,301 (17.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1968 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.11% ✓
• Cap rate: 5.11%
• Cash-on-cash: -4.21%
• DSCR: 0.81
• GRM: 7.5

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: -23.1%
• Equity multiple: 0.20×
• Total profit: $-27,842
• Equity at exit: $18,638

10-year hold

• IRR: -17.1%
• Equity multiple: 0.05×
• Total profit: $-33,355
• Equity at exit: $10,808

Cash invested: $35,000 (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 44116

• Active inventory: 112
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,383 high
• Mortgage (P&I): −$656
• Tax from tax record: −$156 /mo · $1,870/yr
• Insurance: −$52
• HOA: −$352
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-123

Break-even live

Break-even rent $1,539

Max offer price $103,301

Occupancy floor —

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22081 River Oaks Dr Unit B8 Rocky River, OH	1.0	1.0	726	$1,245	$1.71	4d	1	0.40mi
22081 River Oaks Dr Rocky River, OH	1.0	1.0	726	$1,198	$1.65	17d	2	0.41mi
21045 Southbend Cir Apt 8 Rocky River, OH	2.0	1.0	800	$1,500	$1.88	43d	1	0.50mi
21045 Southbend Cir Apt 2 Rocky River, OH	1.0	1.0	800	$1,300	$1.62	43d	1	0.50mi
21045 Southbend Cir Unit 9 Rocky River, OH	2.0	1.0	800	$1,500	$1.88	21d	1	0.50mi
3303 Linden Rd Rocky River, OH	2.0	1.0–1.5	645	$1,739	$2.70	1d	17	0.66mi
22603 Center Ridge Rd Rocky River, OH	1.0–3.0	1.0–2.5	2190	$4,095	$1.87	1d	23	0.80mi
19875 Center Ridge Rd Rocky River, OH	1.0	1.0	678	$1,772	$2.61	1d	9	0.80mi
3400 Wooster Rd Rocky River, OH	1.0	1.0	780	$1,500	$1.92	23d	1	0.86mi
20550 Detroit Rd Apt 6 Rocky River, OH	1.0	1.0	725	$1,025	$1.41	2d	1	0.99mi
20550 Detroit Rd Unit 8 Rocky River, OH	1.0	1.0	725	$1,080	$1.49	21d	1	0.99mi
20333 Detroit Rd Unit 213 Rocky River, OH	2.0	1.5	800	$1,400	$1.75	43d	1	1.05mi
20588 Lorain Rd Unit 17 Fairview Park, OH	3.0	1.0	1066	$1,295	$1.21	23d	1	1.16mi
20586 Lorain Rd Fairview Park, OH	3.0	1.0	1066	$1,295	$1.21	43d	1	1.17mi
20580 Lorain Rd Cleveland, OH	3.0	1.0	1066	$1,345	$1.26	7d	4	1.17mi
20582 Lorain Rd Unit 28 Fairview Park, OH	3.0	1.0	1066	$1,295	$1.21	43d	1	1.19mi
20586 Lorain Rd Unit 11 Fairview Park, OH	3.0	1.0	1066	$1,395	$1.31	7d	1	1.19mi
19740 Lorain Rd Fairview Park, OH	1.0–2.0	1.0	800	$1,299	$1.62	16d	2	1.29mi
20123 Lorain Rd Cleveland, OH	1.0–2.0	1.0–2.0	820	$1,595	$1.95	1d	1	1.30mi
680 Smith Ct Rocky River, OH	1.0–2.0	1.0	640	$1,100	$1.72	7d	6	1.39mi
18975 Hilliard Blvd Rocky River, OH	1.0	1.0	875	$995	$1.14	16d	1	1.40mi
18963 Hilliard Blvd Unit 2 Rocky River, OH	1.0	1.0	750	$1,150	$1.53	20d	1	1.41mi
18923 Hilliard Blvd Unit 4 Rocky River, OH	2.0	1.0	900	$1,100	$1.22	43d	1	1.45mi
19290 Lorain Rd Unit 5 Fairview Park, OH	1.0	1.0	900	$1,150	$1.28	43d	1	1.49mi

HOA detail condo

• Monthly dues: $352 · $4,224/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-03-30
   status Pending
2. 2026-03-19
   listed $125,000 Active
3. 2017-08-18
   status Pending 475-char remark

   Show marketing remark (475 chars)

   Nicely updated second floor Ranch. .. end unit! Spacious two bedroom with one full and one half bath. Spacious living room with brick wood burning fireplace. Master bedroom with private bath and large walk-in closet. Eat-in updated kitchen with all appliances. Both baths nicely updated. This unit is clean with neutral décor throughout! Newer furnace, A/C, and windows. A great location. .. walking distance to shopping, movie theater & public transportation!!!

4. 2017-08-18
   soldstatus $67,500 Sold 475-char remark

   Show marketing remark (475 chars)

   Nicely updated second floor Ranch. .. end unit! Spacious two bedroom with one full and one half bath. Spacious living room with brick wood burning fireplace. Master bedroom with private bath and large walk-in closet. Eat-in updated kitchen with all appliances. Both baths nicely updated. This unit is clean with neutral décor throughout! Newer furnace, A/C, and windows. A great location. .. walking distance to shopping, movie theater & public transportation!!!

5. 2017-08-18
   soldstatus $67,500

   Show marketing remark (475 chars)

   Nicely updated second floor Ranch. .. end unit! Spacious two bedroom with one full and one half bath. Spacious living room with brick wood burning fireplace. Master bedroom with private bath and large walk-in closet. Eat-in updated kitchen with all appliances. Both baths nicely updated. This unit is clean with neutral décor throughout! Newer furnace, A/C, and windows. A great location. .. walking distance to shopping, movie theater & public transportation!!!

6. 2017-06-15
   historical Contingent 475-char remark

   Show marketing remark (475 chars)

   Nicely updated second floor Ranch. .. end unit! Spacious two bedroom with one full and one half bath. Spacious living room with brick wood burning fireplace. Master bedroom with private bath and large walk-in closet. Eat-in updated kitchen with all appliances. Both baths nicely updated. This unit is clean with neutral décor throughout! Newer furnace, A/C, and windows. A great location. .. walking distance to shopping, movie theater & public transportation!!!

7. 2017-06-12
   listed $69,900 Active 475-char remark

   Show marketing remark (475 chars)

   Nicely updated second floor Ranch. .. end unit! Spacious two bedroom with one full and one half bath. Spacious living room with brick wood burning fireplace. Master bedroom with private bath and large walk-in closet. Eat-in updated kitchen with all appliances. Both baths nicely updated. This unit is clean with neutral décor throughout! Newer furnace, A/C, and windows. A great location. .. walking distance to shopping, movie theater & public transportation!!!

8. 2002-09-09
   soldstatus $79,000
9. 2000-04-18
   soldstatus $73,500
10. 2000-04-14
    soldstatus $73,500
11. 2000-02-16
    listed $77,500
12. 1996-07-17
    soldstatus $67,000
13. 1996-07-17
    soldstatus $67,000
14. 1996-07-17
    soldstatus $67,000
15. 1996-05-02
    listed $69,900
16. 1994-04-01
    historical
17. 1993-09-01
    listed $69,900
18. 1977-08-01
    soldstatus $38,000
19. 1976-10-01
    soldstatus $35,000

ⓘ 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: $1,870 · $156/mo
• Projected year-2 tax: $1,910 · $159/mo
• Expected delta: +$40/yr (+$3/mo · 2.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,597
• − Mortgage interest: −$7,002
• − Property taxes: −$1,870
• − Insurance: −$625
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − HOA: −$4,224
• − Depreciation: −$3,636
• Taxable loss: −$3,416
• Est. tax savings @ 24.0%: +$820
• After-tax cash flow: $-654/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: Rocky River City
• NCES district ID: 3904470
• Math proficiency: 84% ▼ -8.00%
• Reading proficiency: 89% ▼ -2.00%
• Median HH income: $64,592
• Composite: 74.43/100
• National rank: #159
• State rank: #26 of 656 in OH

Livability — Rocky River

• Score: 89/100
• State rank: #9
• US rank: #112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rocky River, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 21,532
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 21,532
• Household income: $93,799
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 795.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Asian 2% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 6% Lithuanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Other Indo-European 5% Arabic 3% Russian/Polish/Slavic 1%

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: ▼ -180.15%
• Current HPI: 228.2256
• 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

+257.1% since first listed

19 events — show timeline

• 2026-03-30 Pending — MLSNOW
• 2026-03-19 Listed $125,000 MLSNOW
• 2017-08-18 Pending — MLSNOW
• 2017-08-18 Sold (Public Records) $67,500 Public Records
• 2017-08-18 Sold (MLS) $67,500 MLSNOW
• 2017-06-15 Contingent — MLSNOW
• 2017-06-12 Listed $69,900 MLSNOW
• 2002-09-09 Sold (Public Records) $79,000 Public Records
• 2000-04-18 Sold (MLS) $73,500 MLSNOW
• 2000-04-14 Sold (Public Records) $73,500 Public Records
• 2000-02-16 Listed $77,500 MLSNOW
• 1996-07-17 Sold (Public Records) $67,000 Public Records
• 1996-07-17 Sold (Public Records) $67,000 Public Records
• 1996-07-17 Sold (MLS) $67,000 MLSNOW
• 1996-05-02 Listed $69,900 MLSNOW
• 1994-04-01 Listing Removed — MLSNOW
• 1993-09-01 Listed $69,900 MLSNOW
• 1977-08-01 Sold (Public Records) $38,000 Public Records
• 1976-10-01 Sold (Public Records) $35,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,870 · -1.3% YoY. Source: county tax records.