636 Cherry Park Oval · Aurora, OH 44202

$275,000

3 bd · 2.0 ba · 1,720 sqft · Condo public records · 9 Days on market

Built 1986 $160/sqft · 34% below area Est $419k · 34% under $436/mo HOA · 15% 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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Schools +7.2/10.0
• 1% rule +5.4/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated 3-bedroom, 2-bath condominium in the heart of Aurora! Step inside to soaring ceilings and an open, airy floor plan filled with natural light. The spacious living area offers stylish finishes and a warm, inviting feel, ideal for both relaxing and entertaining. The updated kitchen features modern appliances, ample cabinet space, and durable ceramic flooring. The first-floor primary suite provides comfort and convenience with a spacious closet and full bath. The second floor offers a similar primary bedroom plus an additional bedroom perfect for guests, family, or a home office. Enjoy the ease of in-unit laundry, extra storage, and a private patio where

Key facts

• Private patio
• Nearby parks
• Updated kitchen

Tags

• UPDATED KITCHEN
• IN UNIT LAUNDRY
• PRIVATE PATIO
• NEARBY PARKS
• WELL KEPT COMMON AREAS

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; HOA fee includes common area maintenance, insurance, structural maintenance, pest control, reserves, roof maintenance, sewer, snow removal, and trash

Exterior

• Parking: Attached garage with 2 spaces; Garage faces front; Garage door opener; Electricity in garage
• Utilities: Public water; Public sewer
• Home design: Two-story home; Entry level is first floor
• Construction: Wood siding; Asphalt/fiberglass roof; Built using public record year (year built from public records)
• Exterior features: Patio

Interior

• Kitchen: Kitchen on first floor
• Bedrooms: One main-level bedroom; Two upstairs bedrooms
• Flooring: Carpet in living areas and bedrooms; Ceramic tile in kitchen and laundry
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Baseboard heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; High ceilings; Open floor plan; Walk-in closet(s); Primary bedroom on main level
• Laundry & utility: In-unit laundry; Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $-14 ($-163/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (0.9% below list).
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $273k (0.9% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 2.5% in Aurora — 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 (#258 in OH, #4,104 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Aurora City (suburban): math 79% / reading 84% proficiency, ranked #35 of 656 in OH (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y 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 $190k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $272,601 (0.9% 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. 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: 1.04% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 8.0

CMA / ARV

• ARV (median comp): $419,002
• List price: $275,000
• Delta: -34.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-45,157
• Equity at exit: $41,003

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-39,339
• Equity at exit: $23,777

Cash invested: $77,000 (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 44202

• Active inventory: 135
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,856 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$277 /mo · $3,321/yr
• Insurance: −$115
• HOA: −$436
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $-14

Break-even live

Break-even rent $2,873

Max offer price $272,601

Occupancy floor 95%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7340 Ferris ST Aurora, OH	3.0	1.0–3.0	1138	$3,230	$2.84	1d	1	0.85mi
1177 Moneta Ave Aurora, OH	4.0	2.0	1660	$2,500	$1.51	43d	1	1.18mi

HOA detail condo

• Monthly dues: $436 · $5,232/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-14
   listed $275,000 Active 980-char remark
2. 2024-11-16
   historical
3. 2024-10-16
   status Active
4. 2024-09-17
   price $260,000
5. 2024-09-17
   listed $269,000 Active
6. 2021-05-03
   soldstatus $190,000
7. 2021-04-30
   soldstatus $190,000
8. 2021-02-24
   listed $190,000
9. 2018-07-11
   soldstatus $145,500 Sold
10. 2018-07-11
    soldstatus $145,500
11. 2018-07-02
    status Pending
12. 2018-06-08
    listed $164,900 Active
13. 2002-12-13
    historical
14. 2002-09-13
    listed $174,000

ⓘ 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: $3,321 · $277/mo
• Projected year-2 tax: $3,806 · $317/mo
• Expected delta: +$484/yr (+$40/mo · 14.6%)

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

Taxation est. · year 1

• Rental income: $34,267
• − Mortgage interest: −$15,404
• − Property taxes: −$3,321
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,741
• − Management: −$2,741
• − HOA: −$5,232
• − Depreciation: −$8,000
• Taxable loss: −$4,548
• Est. tax savings @ 24.0%: +$1,092
• After-tax cash flow: $929/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: Aurora City
• NCES district ID: 3904917
• Math proficiency: 79% ▼ -7.00%
• Reading proficiency: 84% ▼ -5.00%
• Median HH income: $81,791
• Composite: 71.93/100
• National rank: #213
• State rank: #35 of 656 in OH

Livability — Aurora

• Score: 75/100
• State rank: #258
• US rank: #4104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aurora, OH
• County: Portage · 165,699 people
• City population: 22,857
• Metro: Akron, OH
• Population (ZIP): 22,857
• Household income: $116,556
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 4.9

Population outlook (Portage County) Hauer SSP2

• Today (2025): 166,109 people
• By 2030: 167,752 · +1.0%
• By 2040: 168,640 · +1.5%
• By 2050: 167,469 · +0.8%
• By 2075: 170,131 · +2.4%
• By 2100: 167,958 · +1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Asian 4% Two or more races 4% Black 3%
• Common ancestry: Romanian 9% Italian 3% Lithuanian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 94% English-only · Other Indo-European 2% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Portage

• 2024 margin: R (+15.5) · D 41.8% · R 57.3%
• 2008→2024 swing: -24.5pp toward R · 2008: 9.0pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+12.5 2016: R+10.2 2012: D+4.9 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -270.23%
• Current HPI: 186.4919
• Rent YoY: —
• Metro: —
• 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

+58.0% since first listed

15 events — show timeline

• 2026-05-23 Pending — MLSNOW
• 2026-05-14 Listed $275,000 MLSNOW
• 2024-11-16 Listing Removed — MLSNOW
• 2024-10-16 Relisted — MLSNOW
• 2024-09-17 Price Changed $260,000 MLSNOW
• 2024-09-17 Listed $269,000 MLSNOW
• 2021-05-03 Sold (MLS) $190,000 MLSNOW
• 2021-04-30 Sold (Public Records) $190,000 Public Records
• 2021-02-24 Listed $190,000 MLSNOW
• 2018-07-11 Sold (Public Records) $145,500 Public Records
• 2018-07-11 Sold (MLS) $145,500 MLSNOW
• 2018-07-02 Pending — MLSNOW
• 2018-06-08 Listed $164,900 MLSNOW
• 2002-12-13 Listing Removed — MLSNOW
• 2002-09-13 Listed $174,000 MLSNOW

Property tax history

+4.9%/yr

Latest (2025): $3,321 · +1.8% YoY. Source: county tax records.