1519 Woodward Ave · Lakewood, OH 44107

$199,900

3 bd · 1.0 ba · 1,602 sqft · SingleFamily public records · 2 Days on market

Built 1910 5,039 sqft lot Est $368k · 46% under

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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 +15.0/15.0
• Cash flow +11.1/30.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• 1% rule +4.3/10.0
• Rent growth +3.8/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled on a beautiful tree-lined street in an outstanding location, this charming 3-bedroom Colonial is waiting for its new family and their personal touches to make this house a home. A welcoming front porch invites you inside to spacious, character-filled rooms designed for comfortable everyday living and memorable gatherings. The living room features a decorative fireplace that creates a warm focal point, while the formal dining room offers classic built-in cabinetry and timeless architectural details. The eat-in kitchen provides plenty of space for casual meals and opens to a small rear porch overlooking the partially fenced backyard — perfect for relaxing, gardening, or outdoor

Key facts

• Decorative fireplace
• Built-in cabinetry
• Tree-lined street

Tags

• TREE-LINED STREET
• DECORATIVE FIREPLACE
• BUILT-IN CABINETRY
• EAT-IN KITCHEN
• PARTIALLY FENCED BACKYARD
• PARTIALLY FINISHED THIRD FLOOR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-81 ($-968/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (7.1% below list).
• Recommended offer: $186k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 2.5% in Lakewood — 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 88/100 on livability (#29 in OH, #249 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, cost of living A+; Watch: commute F.
• Lakewood City (suburban): math 60% / reading 71% proficiency, ranked #213 of 656 in OH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.4%/yr); 201 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 32% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Cuyahoga County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $43k; list at $200k implies a 365% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,648 (7.1% 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.93% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $368,460
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1505 Cordova Ave	0.22mi	3/1.5	1,628 (+2%)	0mo	$220,000	$135	85
1486 Woodward Ave	0.07mi	3/2.5	1,504 (-6%)	1mo	$451,500	$300	80
1358 Summit Ave	0.37mi	3/1.5	1,592 (-1%)	0mo	$567,500	$356	80
1547 Orchard Grove Ave	0.13mi	4/3.0 (+1)	1,626 (+2%)	1mo	$335,000	$206	78
1615 Wagar Ave	0.19mi	3/1.5	1,385 (-14%)	1mo	$280,000	$202	66
1196 Cranford Ave	0.62mi	3/1.5	1,660 (+4%)	1mo	$317,500	$191	62
17712 Riverway Dr	0.62mi	4/2.0 (+1)	1,638 (+2%)	2mo	$376,000	$230	57
1302 Bonnieview Ave	0.49mi	4/3.0 (+1)	1,678 (+5%)	1mo	$480,000	$286	55
1215 Ethel Ave	0.59mi	4/1.5 (+1)	1,764 (+10%)	1mo	$413,500	$234	48
2152 Glenbury Ave	0.64mi	3/1.5	1,796 (+12%)	1mo	$399,000	$222	47
2212 Olive Ave	0.67mi	3/1.0	1,371 (-14%)	1mo	$220,000	$160	44
1228 Andrews Ave	0.71mi	4/2.0 (+1)	1,778 (+11%)	1mo	$455,000	$256	39

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 · 5.39% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.41×
• Total profit: $-32,829
• Equity at exit: $29,806

10-year hold

• IRR: -3.6%
• Equity multiple: 0.73×
• Total profit: $-14,974
• Equity at exit: $17,284

Cash invested: $55,972 (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 44107

• Rents YoY: 5.4%
• Active inventory: 201
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,857 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$416 /mo · $4,992/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $-81

Break-even live

Break-even rent $1,959

Max offer price $185,648

Occupancy floor 99%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1482 Rosewood Ave Fl 2 Bedroom Lakewood, OH	2.0	1.0	1200	$1,500	$1.25	44d	1	0.15mi
16000 Detroit Ave Lakewood, OH	1.0–2.0	1.0–2.0	851	$2,720	$3.20	2d	27	0.26mi
1657 Wagar Ave Unit 2 Lakewood, OH	4.0	2.0	1992	$2,280	$1.14	21d	1	0.28mi
1533 Mars Ave Unit 1533 Lakewood, OH	3.0	1.0	1500	$1,725	$1.15	44d	1	0.40mi
17316 Madison Ave Unit 1 Lakewood, OH	2.0	1.0	2184	$1,625	$0.74	10d	1	0.44mi
1303 Lakeland Ave Lakewood, OH	3.0	1.5	2000	$1,750	$0.88	44d	1	0.49mi
1252 Summit Ave Lakewood, OH	3.0	1.5	1632	$2,650	$1.62	44d	1	0.54mi
1644 Warren Rd Unit 2 Lakewood, OH	2.0	1.0	1200	$1,295	$1.08	12d	1	0.60mi
2171 Olive Ave Unit 2 Lakewood, OH	2.0	1.0	1500	$1,150	$0.77	44d	1	0.60mi
17844 Cannon Ave Lakewood, OH	4.0	2.5	1700	$2,800	$1.65	44d	1	0.67mi
2125 Mars Ave Lakewood, OH	4.0	2.0	1650	$2,000	$1.21	24d	1	0.70mi
1143 Cranford Ave Lakewood, OH	2.0	1.0	1078	$1,500	$1.39	44d	1	0.72mi
1618 Olivewood Ave Lakewood, OH	2.0	1.0	1150	$2,000	$1.74	20d	1	0.91mi
1265 Marlowe Ave Lakewood, OH	4.0	1.0	1690	$1,750	$1.04	15d	1	0.95mi
1265 Marlowe Ave Lakewood, OH	3.0	1.0	1110	$1,600	$1.44	44d	1	0.95mi
16806 Pilgrim Ave Unit 1496036P Cleveland, OH	4.0	2.5	1937	$6,179	$3.19	2d	1	1.04mi
3175 Rocky River Dr Unit 1496078P Cleveland, OH	2.0	1.0	2131	$3,747	$1.76	2d	1	1.07mi
3175 Rocky River Dr Unit 1496035P Cleveland, OH	2.0	1.5	1937	$3,383	$1.75	44d	1	1.07mi
1653 Bunts Rd Unit 2 Lakewood, OH	2.0	1.0	1800	$1,500	$0.83	44d	1	1.15mi
2058 Wascana Ave Lakewood, OH	2.0	1.0	1064	$1,500	$1.41	44d	1	1.24mi
2041 Elbur Ave Lakewood, OH	2.0	1.0	1050	$1,350	$1.29	44d	1	1.36mi
2041 Elbur Ave Lakewood, OH	2.0	1.0	1050	$1,250	$1.19	15d	1	1.36mi
2082 Lewis Dr Unit 2082 Lakewood, OH	3.0	1.0	1600	$1,750	$1.09	44d	1	1.40mi
2010 Chesterland Ave Unit 1496099P Lakewood, OH	4.0	2.5	1463	$7,556	$5.16	12d	1	1.42mi
2180 Elbur Ave Lakewood, OH	3.0	1.0	1226	$2,200	$1.79	16d	1	1.44mi
1646 Waterbury Rd Lakewood, OH	2.0	1.0	1068	$1,600	$1.50	16d	1	1.47mi
1648 Waterbury Rd Lakewood, OH	2.0	1.0	1056	$1,600	$1.52	44d	1	1.47mi
1298 Nicholson Ave Lakewood, OH	2.0	1.0	1221	$1,650	$1.35	4d	1	1.50mi

Listing history 3 events

1. 2026-06-13
   statusdays on market $199,900 Pending 2 DOM
2. 2026-06-13
   remarks 693-char remark
3. 2026-06-13
   listed $199,900 Active 1 DOM

ⓘ 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: $4,992 · $416/mo
• Projected year-2 tax: $4,992 · $416/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
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,282
• − Mortgage interest: −$11,198
• − Property taxes: −$4,992
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$5,815
• Taxable loss: −$4,287
• Est. tax savings @ 24.0%: +$1,029
• After-tax cash flow: $61/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: Lakewood City
• NCES district ID: 3904419
• Math proficiency: 60% ▼ -11.00%
• Reading proficiency: 71% ▼ -3.00%
• Median HH income: $45,181
• Composite: 55.13/100
• National rank: #1282
• State rank: #213 of 656 in OH

Livability — Lakewood

• Score: 88/100
• State rank: #29
• US rank: #249

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakewood, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 50,018
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 50,018
• Household income: $68,970
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 2271.0

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 (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 8% Lithuanian 2% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Arabic 3% Other Indo-European 2% 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: ▼ -347.35%
• Current HPI: 266.5337
• Rent YoY: ▲ 5.39%
• 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

+447.7% since first listed

4 events — show timeline

• 2026-06-11 Listed $199,900 MLSNOW
• 1978-11-03 Sold (Public Records) $43,000 Public Records
• 1978-02-01 Sold (Public Records) $47,500 Public Records
• 1977-01-01 Sold (Public Records) $36,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $4,992 · -0.2% YoY. Source: county tax records.