654 Treadway Blvd · Sheffield Lake, OH 44054

$205,000

2 bd · 1.0 ba · 956 sqft · SingleFamily public records · 75 Days on market

Built 2023 Excellent condition 1,372 sqft lot $214/sqft · at area comps Est $214k · at est. $142/mo HOA · 9% 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).

• ARV discount +9.4/15.0
• Cash flow +9.3/30.0
• Condition / age +4.8/5.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this better-than-new 2 bedroom, 1 bath condo in the desirable Treadway Ponds community in Sheffield Lake! Built in 2023 and lightly lived in, this stunning home offers maintenance-free living with nothing left to do but move right in. Step in from the inviting front porch into a light-filled foyer featuring 9-foot ceilings, a neutral color palette, and beautiful LVP flooring that flows seamlessly throughout the main living spaces. The open-concept living, dining, and kitchen area is perfect for both everyday living and entertaining. The stylish kitchen is a showstopper with crisp white cabinetry, quartz countertops, stainless steel appliances (all included!), ample cabinet and counter space, and a spacious pantry closet. This home offers two comfortable bedrooms and a beautifully appointed full bath featuring quartz countertops. Convenient first-floor laundry is tucked away in a hallway closet, and the attached one-car garage adds ease and functionality. Enjoy the peaceful setting of Treadway Ponds with scenic walking paths, mature trees, and tranquil pond views. Say goodbye to yard work and snow removal while enjoying low-maintenance living with a low monthly HOA fee. Don’t miss your opportunity to own this move-in ready gem—schedule your private showing today!

Key facts

• Quartz countertops
• Open concept living
• First floor laundry

Tags

• OPEN CONCEPT LIVING
• STYLISH KITCHEN
• QUARTZ COUNTERTOPS
• SPACIOUS PANTRY CLOSET
• FIRST FLOOR LAUNDRY
• ATTACHED ONE CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $205k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-149 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (19.0% below list).
• Recommended offer: $166k (19.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#541 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Sheffield-Sheffield Lake City (suburban): math 48% / reading 59% proficiency, ranked #381 of 656 in OH (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 60 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 1,098 units permitted in Lorain County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Recommended offer $165,950 (19.0% 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. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.81% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.11%
• DSCR: 0.86
• GRM: 10.3

CMA / ARV

• ARV (median comp): $214,191
• List price: $205,000
• Delta: -4.29%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
566 Lafayette Blvd	0.22mi	2/1.5	1,064 (+11%)	9mo	$216,000	$203	62
554 W Shore Blvd	0.40mi	2/1.5	1,001 (+5%)	22mo	$185,000	$185	54
4443 Tennyson Ave	0.58mi	2/1.0	950 (-1%)	23mo	$125,000	$132	52
4860 Saddlewood Dr	0.13mi	3/1.5 (+1)	1,077 (+13%)	16mo	$220,000	$204	52
647 Idlewood Ave	0.65mi	2/1.0	936 (-2%)	18mo	$97,900	$105	51
675 Alameda Ave	0.41mi	3/2.0 (+1)	1,040 (+9%)	9mo	$234,000	$225	50
541 Maplewood Ave	0.35mi	3/2.0 (+1)	1,084 (+13%)	4mo	$222,000	$205	50
665 Alameda Ave	0.40mi	2/1.0	840 (-12%)	17mo	$145,000	$173	47
458 Buckeye Dr	0.54mi	3/2.0 (+1)	930 (-3%)	22mo	$154,900	$167	43
606 Pasadena Ave	0.54mi	2/1.0	823 (-14%)	12mo	$135,000	$164	41
782 Grantwood Ave	0.75mi	3/1.0 (+1)	823 (-14%)	15mo	$160,000	$194	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.5%
• Equity multiple: 0.26×
• Total profit: $-42,650
• Equity at exit: $30,566

10-year hold

• IRR: -15.0%
• Equity multiple: 0.14×
• Total profit: $-49,141
• Equity at exit: $17,725

Cash invested: $57,400 (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 44054

• Active inventory: 60
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,660 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$157 /mo · $1,889/yr
• Insurance: −$85
• HOA: −$142
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-149

Break-even live

Break-even rent $1,848

Max offer price $178,697

Occupancy floor —

Sensitivity live

Price	-10% $-33	-5% $-91	+0% $-149	+5% $-207	+10% $-265
Rent	-10% $-280	-5% $-214	+0% $-149	+5% $-83	+10% $-18
Rate	-1.0pp $-46	-0.5pp $-97	base $-149	+0.5pp $-202	+1.0pp $-256

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
638 Treadway Blvd Sheffield Lake, OH	2.0	1.0	975	$1,650	$1.69	24d	1	0.06mi
5115 E Lake Rd Sheffield Lake, OH	2.0	1.0–2.0	950	$1,675	$1.76	2d	1	0.84mi
4252 Belle Ave Sheffield Lake, OH	3.0	1.0	912	$1,495	$1.64	21d	1	1.01mi
345 Lynne Dr Sheffield Lake, OH	3.0	1.0	912	$1,395	$1.53	8d	1	1.17mi
201 Erieview Blvd Sheffield Lake, OH	3.0	1.0	988	$2,000	$2.02	4d	1	1.43mi
750 Aqua Marine Blvd Avon Lake, OH	1.0–2.0	1.0–2.0	1023	$2,000	$1.96	2d	11	1.47mi

HOA detail

• Monthly dues: $142 · $1,704/yr
• Likely covers: snow removal

Listing history 25 events

1. 2026-06-15
   days on market $205,000 Active 75 DOM
2. 2026-06-13
   days on market $205,000 Active 73 DOM
3. 2026-06-13
   days on market $205,000 Active 72 DOM
4. 2026-06-09
   days on market $205,000 Active 69 DOM
5. 2026-06-08
   days on market $205,000 Active 68 DOM
6. 2026-06-07
   days on market $205,000 Active 67 DOM
7. 2026-06-03
   days on market $205,000 Active 63 DOM
8. 2026-06-02
   days on market $205,000 Active 62 DOM
9. 2026-06-01
   days on market $205,000 Active 61 DOM
10. 2026-05-31
    days on market $205,000 Active 60 DOM
11. 2026-04-18
    price $205,000 1310-char remark

    Show marketing remark (1310 chars)

    Welcome home to this better-than-new 2 bedroom, 1 bath condo in the desirable Treadway Ponds community in Sheffield Lake! Built in 2023 and lightly lived in, this stunning home offers maintenance-free living with nothing left to do but move right in. Step in from the inviting front porch into a light-filled foyer featuring 9-foot ceilings, a neutral color palette, and beautiful LVP flooring that flows seamlessly throughout the main living spaces. The open-concept living, dining, and kitchen area is perfect for both everyday living and entertaining. The stylish kitchen is a showstopper with crisp white cabinetry, quartz countertops, stainless steel appliances (all included!), ample cabinet and counter space, and a spacious pantry closet. This home offers two comfortable bedrooms and a beautifully appointed full bath featuring quartz countertops. Convenient first-floor laundry is tucked away in a hallway closet, and the attached one-car garage adds ease and functionality. Enjoy the peaceful setting of Treadway Ponds with scenic walking paths, mature trees, and tranquil pond views. Say goodbye to yard work and snow removal while enjoying low-maintenance living with a low monthly HOA fee. Don’t miss your opportunity to own this move-in ready gem—schedule your private showing today!

12. 2026-04-08
    price $210,000 1310-char remark

    Show marketing remark (1310 chars)

    Welcome home to this better-than-new 2 bedroom, 1 bath condo in the desirable Treadway Ponds community in Sheffield Lake! Built in 2023 and lightly lived in, this stunning home offers maintenance-free living with nothing left to do but move right in. Step in from the inviting front porch into a light-filled foyer featuring 9-foot ceilings, a neutral color palette, and beautiful LVP flooring that flows seamlessly throughout the main living spaces. The open-concept living, dining, and kitchen area is perfect for both everyday living and entertaining. The stylish kitchen is a showstopper with crisp white cabinetry, quartz countertops, stainless steel appliances (all included!), ample cabinet and counter space, and a spacious pantry closet. This home offers two comfortable bedrooms and a beautifully appointed full bath featuring quartz countertops. Convenient first-floor laundry is tucked away in a hallway closet, and the attached one-car garage adds ease and functionality. Enjoy the peaceful setting of Treadway Ponds with scenic walking paths, mature trees, and tranquil pond views. Say goodbye to yard work and snow removal while enjoying low-maintenance living with a low monthly HOA fee. Don’t miss your opportunity to own this move-in ready gem—schedule your private showing today!

13. 2026-04-01
    listed $215,000 Active 1310-char remark

    Show marketing remark (1310 chars)

    Welcome home to this better-than-new 2 bedroom, 1 bath condo in the desirable Treadway Ponds community in Sheffield Lake! Built in 2023 and lightly lived in, this stunning home offers maintenance-free living with nothing left to do but move right in. Step in from the inviting front porch into a light-filled foyer featuring 9-foot ceilings, a neutral color palette, and beautiful LVP flooring that flows seamlessly throughout the main living spaces. The open-concept living, dining, and kitchen area is perfect for both everyday living and entertaining. The stylish kitchen is a showstopper with crisp white cabinetry, quartz countertops, stainless steel appliances (all included!), ample cabinet and counter space, and a spacious pantry closet. This home offers two comfortable bedrooms and a beautifully appointed full bath featuring quartz countertops. Convenient first-floor laundry is tucked away in a hallway closet, and the attached one-car garage adds ease and functionality. Enjoy the peaceful setting of Treadway Ponds with scenic walking paths, mature trees, and tranquil pond views. Say goodbye to yard work and snow removal while enjoying low-maintenance living with a low monthly HOA fee. Don’t miss your opportunity to own this move-in ready gem—schedule your private showing today!

14. 2026-03-23
    historical
15. 2026-01-12
    listed $218,000 Active
16. 2025-10-27
    historical
17. 2025-08-07
    listed $219,900 Active
18. 2024-04-19
    soldstatus $190,000 Closed
19. 2024-04-19
    soldstatus $190,000
20. 2024-04-01
    status Pending
21. 2024-04-01
    historical Contingent
22. 2024-02-14
    price $194,900
23. 2023-10-16
    price $199,900
24. 2023-09-01
    listed $204,900 Active
25. 2023-03-24
    soldstatus $184,700

ⓘ 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: $1,889 · $157/mo
• Projected year-2 tax: $2,544 · $212/mo
• Expected delta: +$654/yr (+$55/mo · 34.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,914
• − Mortgage interest: −$11,483
• − Property taxes: −$1,889
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − HOA: −$1,704
• − Depreciation: −$5,964
• Taxable loss: −$5,337
• Est. tax savings @ 24.0%: +$1,281
• After-tax cash flow: $-506/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with no visible repairs or maintenance needed. It is move-in ready and has a great curb appeal. The home has a good resale value and would benefit from some exterior painting and landscaping improvements.

Value-add opportunities

• Resale Painting the exterior siding and roof — Painting the exterior can enhance the curb appeal and make the home look more attractive to potential buyers.
• Resale Landscaping improvements — Landscaping improvements can enhance the curb appeal and make the home more attractive to potential buyers.
• Resale Updating the flooring — Updating the flooring can make the home more attractive to potential buyers and increase its resale value.
• Resale Updating the kitchen appliances — Updating the kitchen appliances can make the home more attractive to potential buyers and increase its resale value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding and roof — Painting the exterior can enhance the curb appeal and make the home look more attractive to potential buyers. ↑
• Resale Landscaping improvements — Landscaping improvements can enhance the curb appeal and make the home more attractive to potential buyers. ↑
• Resale Updating the flooring — Updating the flooring can make the home more attractive to potential buyers and increase its resale value. ↑
• Resale Updating the kitchen appliances — Updating the kitchen appliances can make the home more attractive to potential buyers and increase its resale value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sheffield-Sheffield Lake City
• NCES district ID: 3904476
• Math proficiency: 48% ▼ -23.00%
• Reading proficiency: 59% ▼ -12.00%
• Median HH income: $55,551
• Composite: 46.18/100
• National rank: #2496
• State rank: #381 of 656 in OH

Livability — Sheffield Lake

• Score: 68/100
• State rank: #541
• US rank: #9106

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheffield Lake, OH
• County: Lorain · 305,041 people
• Metro: Cleveland, OH
• Population (ZIP): 12,733
• Household income: $73,151
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 5.7

Population outlook (Lorain County) Hauer SSP2

• Today (2025): 314,924 people
• By 2030: 317,546 · +0.8%
• By 2040: 317,962 · +1.0%
• By 2050: 312,872 · -0.7%
• By 2075: 301,806 · -4.2%
• By 2100: 278,271 · -11.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 6% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 8% Slovak 3% Italian 1%
• Foreign-born: 3% · Vietnam
• Languages at home: 93% English-only · Spanish 2% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Lorain

• 2024 margin: Lean R (+5.7) · D 46.7% · R 52.4%
• 2008→2024 swing: -23.6pp toward R · 2008: 17.9pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+2.5 2016: R+0.3 2012: D+14.4 2008: D+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.49%
• Current HPI: 211.5612
• 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

+11.0% since first listed

15 events — show timeline

• 2026-04-18 Price Changed $205,000 MLSNOW
• 2026-04-08 Price Changed $210,000 MLSNOW
• 2026-04-01 Listed $215,000 MLSNOW
• 2026-03-23 Listing Removed — MLSNOW
• 2026-01-12 Listed $218,000 MLSNOW
• 2025-10-27 Listing Removed — MLSNOW
• 2025-08-07 Listed $219,900 MLSNOW
• 2024-04-19 Sold (Public Records) $190,000 Public Records
• 2024-04-19 Sold (MLS) $190,000 MLSNOW
• 2024-04-01 Pending — MLSNOW
• 2024-04-01 Contingent — MLSNOW
• 2024-02-14 Price Changed $194,900 MLSNOW
• 2023-10-16 Price Changed $199,900 MLSNOW
• 2023-09-01 Listed $204,900 MLSNOW
• 2023-03-24 Sold (Public Records) $184,700 Public Records

Property tax history

+57.2%/yr

Latest (2025): $1,889 · -37.5% YoY. Source: county tax records.