521 Tollis Pkwy #298 · Broadview Heights, OH 44147

$114,500

2 bd · 1.5 ba · 902 sqft · Condo · 61 Days on market

Built 1969 $127/sqft · 10% above area Est $104k · 10% over $274/mo HOA · 18% 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 +20.4/30.0
• 1% rule +8.4/10.0
• Schools +7.5/10.0
• DSCR +6.5/10.0
• Livability +4.0/5.0
• ARV discount +3.0/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy MAINTENANCE-FREE living and the quiet setting of this MOVE-IN READY and WELL-MAINTAINED Broadview Heights 2 Bedroom condo with Reserved carport with storage closet, private storage closet inside next to the unit, and common laundry room and party room on SAME FLOOR PLUS the convenience of a building ELEVATOR with secured access. The home provides a BRIGHT and OPEN layout with newly painted walls with large Living Room/Dining Room area with access to private balcony overlooking the large green space and beautiful tall neighboring pines. The white Kitchen provides plenty of cabinet space and includes appliances. Hallway leads to two bedrooms, Full Bath with bedroom 2 with private Powder Room and Walk-In Cedar closet. AC 2025. Great location close to community park with baseball/soccer fields, tennis courts and the new Broadview Heights State-of-the-Art Recreation Center, with easy access to shopping and highway access and located in Brecksville-Broadview Heights Schools.

Key facts

• Private balcony
• Building elevator
• Reserved carport

Tags

• RESERVED CARPORT
• PRIVATE STORAGE CLOSET
• COMMON LAUNDRY ROOM
• BUILDING ELEVATOR
• SECURED ACCESS
• PRIVATE BALCONY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.6% in Broadview Heights — 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 79/100 on livability (#150 in OH, #2,291 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Brecksville-Broadview Heights City (suburban): math 85% / reading 85% proficiency, ranked #23 of 656 in OH (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 106 active listings in the ZIP; 5 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).
• This rent is only 18% of the median local income ($103k/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 $792 of loan paydown is wiped out by about $3k 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

• It's been on market 61 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $107,630 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.34% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• GRM: 6.2

CMA / ARV

• ARV (median comp): $104,050
• List price: $114,500
• Delta: 10.04%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-8,834
• Equity at exit: $17,072

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $5,355
• Equity at exit: $9,900

Cash invested: $32,060 (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 44147

• Home prices YoY: -33.4%
• Active inventory: 106
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,538 high
• Mortgage (P&I): −$600
• Tax est. 1.5%: −$143 /mo · $1,718/yr
• Insurance: −$48
• HOA: −$274
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $150

Break-even live

Break-even rent $1,348

Max offer price $114,500

Occupancy floor 85%

Sensitivity live

Price	-10% $229	-5% $189	+0% $150	+5% $110	+10% $70
Rent	-10% $28	-5% $89	+0% $150	+5% $210	+10% $271
Rate	-1.0pp $207	-0.5pp $179	base $150	+0.5pp $120	+1.0pp $90

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Tollis Pkwy Unit 139A Broadview Heights, OH	2.0	1.0	817	$1,300	$1.59	44d	1	0.13mi
1200 Vineyard Dr Broadview Heights, OH	2.0	1.0	1007	$1,900	$1.89	2d	1	0.25mi
900 Tollis Pkwy Broadview Heights, OH	2.0	1.0–2.0	1000	$1,325	$1.32	2d	3	0.42mi
1501 Summit Blvd Cleveland, OH	2.0–3.0	1.0–2.0	1040	$895	$0.86	2d	1	0.79mi
1550 W Royalton Rd Broadview Heights, OH	1.0–2.0	1.0	630	$1,250	$1.98	2d	41	0.89mi

HOA detail condo

• Monthly dues: $274 · $3,288/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-13
   status Active 990-char remark

   Show marketing remark (990 chars)

   Enjoy MAINTENANCE-FREE living and the quiet setting of this MOVE-IN READY and WELL-MAINTAINED Broadview Heights 2 Bedroom condo with Reserved carport with storage closet, private storage closet inside next to the unit, and common laundry room and party room on SAME FLOOR PLUS the convenience of a building ELEVATOR with secured access. The home provides a BRIGHT and OPEN layout with newly painted walls with large Living Room/Dining Room area with access to private balcony overlooking the large green space and beautiful tall neighboring pines. The white Kitchen provides plenty of cabinet space and includes appliances. Hallway leads to two bedrooms, Full Bath with bedroom 2 with private Powder Room and Walk-In Cedar closet. AC 2025. Great location close to community park with baseball/soccer fields, tennis courts and the new Broadview Heights State-of-the-Art Recreation Center, with easy access to shopping and highway access and located in Brecksville-Broadview Heights Schools.

2. 2026-05-05
   price $114,500 990-char remark

   Show marketing remark (990 chars)

   Enjoy MAINTENANCE-FREE living and the quiet setting of this MOVE-IN READY and WELL-MAINTAINED Broadview Heights 2 Bedroom condo with Reserved carport with storage closet, private storage closet inside next to the unit, and common laundry room and party room on SAME FLOOR PLUS the convenience of a building ELEVATOR with secured access. The home provides a BRIGHT and OPEN layout with newly painted walls with large Living Room/Dining Room area with access to private balcony overlooking the large green space and beautiful tall neighboring pines. The white Kitchen provides plenty of cabinet space and includes appliances. Hallway leads to two bedrooms, Full Bath with bedroom 2 with private Powder Room and Walk-In Cedar closet. AC 2025. Great location close to community park with baseball/soccer fields, tennis courts and the new Broadview Heights State-of-the-Art Recreation Center, with easy access to shopping and highway access and located in Brecksville-Broadview Heights Schools.

3. 2026-03-27
   listed $124,900 Active 990-char remark

   Show marketing remark (990 chars)

   Enjoy MAINTENANCE-FREE living and the quiet setting of this MOVE-IN READY and WELL-MAINTAINED Broadview Heights 2 Bedroom condo with Reserved carport with storage closet, private storage closet inside next to the unit, and common laundry room and party room on SAME FLOOR PLUS the convenience of a building ELEVATOR with secured access. The home provides a BRIGHT and OPEN layout with newly painted walls with large Living Room/Dining Room area with access to private balcony overlooking the large green space and beautiful tall neighboring pines. The white Kitchen provides plenty of cabinet space and includes appliances. Hallway leads to two bedrooms, Full Bath with bedroom 2 with private Powder Room and Walk-In Cedar closet. AC 2025. Great location close to community park with baseball/soccer fields, tennis courts and the new Broadview Heights State-of-the-Art Recreation Center, with easy access to shopping and highway access and located in Brecksville-Broadview Heights Schools.

4. 2022-12-19
   soldstatus $85,000 Closed 980-char remark

   Show marketing remark (980 chars)

   Enjoy MAINTENANCE-FREE living and the quiet setting of this MOVE-IN READY and WELL-MAINTAINED Broadview Heights 2 Bedroom condo with Reserved carport with storage closet, private storage closet inside next to the unit, and common laundry room and party room on SAME FLOOR PLUS the convenience of a building ELEVATOR with secured access. The home provides a BRIGHT and OPEN layout with newly painted walls with large Living Room/Dining Room area with access to private balcony overlooking the large green space and beautiful tall neighboring pines. The white Kitchen provides plenty of cabinet space and includes appliances. Hallway leads to two bedrooms, Full Bath with bedroom 2 with private Powder Room and Walk-In Cedar closet. Great location close to community park with baseball/soccer fields, tennis courts and the new Broadview Heights State-of-the-Art Recreation Center, with easy access to shopping and highway access and located in Brecksville-Broadview Heights Schools.

5. 2022-12-06
   status Pending 980-char remark

   Show marketing remark (980 chars)

   Enjoy MAINTENANCE-FREE living and the quiet setting of this MOVE-IN READY and WELL-MAINTAINED Broadview Heights 2 Bedroom condo with Reserved carport with storage closet, private storage closet inside next to the unit, and common laundry room and party room on SAME FLOOR PLUS the convenience of a building ELEVATOR with secured access. The home provides a BRIGHT and OPEN layout with newly painted walls with large Living Room/Dining Room area with access to private balcony overlooking the large green space and beautiful tall neighboring pines. The white Kitchen provides plenty of cabinet space and includes appliances. Hallway leads to two bedrooms, Full Bath with bedroom 2 with private Powder Room and Walk-In Cedar closet. Great location close to community park with baseball/soccer fields, tennis courts and the new Broadview Heights State-of-the-Art Recreation Center, with easy access to shopping and highway access and located in Brecksville-Broadview Heights Schools.

6. 2022-12-02
   listed $84,900 Active 980-char remark

   Show marketing remark (980 chars)

   Enjoy MAINTENANCE-FREE living and the quiet setting of this MOVE-IN READY and WELL-MAINTAINED Broadview Heights 2 Bedroom condo with Reserved carport with storage closet, private storage closet inside next to the unit, and common laundry room and party room on SAME FLOOR PLUS the convenience of a building ELEVATOR with secured access. The home provides a BRIGHT and OPEN layout with newly painted walls with large Living Room/Dining Room area with access to private balcony overlooking the large green space and beautiful tall neighboring pines. The white Kitchen provides plenty of cabinet space and includes appliances. Hallway leads to two bedrooms, Full Bath with bedroom 2 with private Powder Room and Walk-In Cedar closet. Great location close to community park with baseball/soccer fields, tennis courts and the new Broadview Heights State-of-the-Art Recreation Center, with easy access to shopping and highway access and located in Brecksville-Broadview Heights Schools.

7. 2001-03-15
   soldstatus $64,000
8. 2000-09-25
   listed $66,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $18,454
• − Mortgage interest: −$6,414
• − Property taxes: −$1,718
• − Insurance: −$572
• − Repairs & maintenance: −$1,476
• − Management: −$1,476
• − HOA: −$3,288
• − Depreciation: −$3,331
• Taxable income: $179
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $1,752/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: Brecksville-Broadview Heights City
• NCES district ID: 3904364
• Math proficiency: 85% ▼ -7.00%
• Reading proficiency: 85% ▼ -4.00%
• Median HH income: $81,033
• Composite: 74.78/100
• National rank: #149
• State rank: #23 of 656 in OH

Livability — Broadview Heights

• Score: 79/100
• State rank: #150
• US rank: #2291

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broadview Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 19,771
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 19,771
• Household income: $103,125
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 186.0

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 (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 12% Subsaharan African 3% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Russian/Polish/Slavic 3% Other Indo-European 2% Spanish 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: ▼ -97.09%
• Current HPI: 193.3693
• 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

+71.2% since first listed

8 events — show timeline

• 2026-05-13 Relisted — MLSNOW
• 2026-05-05 Price Changed $114,500 MLSNOW
• 2026-03-27 Listed $124,900 MLSNOW
• 2022-12-19 Sold (MLS) $85,000 MLSNOW
• 2022-12-06 Pending — MLSNOW
• 2022-12-02 Listed $84,900 MLSNOW
• 2001-03-15 Sold (MLS) $64,000 MLSNOW
• 2000-09-25 Listed $66,900 MLSNOW