29925 Winsor Dr

Bay Village, OH 44140

$460,000D+

3 bd · 2.5 ba · 2,202 sqft · Built 1975 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,100/mo
• Mortgage (P&I): −$2,412
• Tax + insurance: −$965
• HOA: −$0
• Vac / Maint / Mgmt: −$861
• Net cashflow: $-138/mo
• Annual: $-1,659/yr
• Cap rate: 5.93%
• Cash-on-cash: -1.29%
• DSCR: 0.94
• 1% rule: 0.89%
• Cash to close: $128,800

Investor read

• This is a 3-bed/2.5-bath single-family listed at $460k.
• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $436k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $410k (10.9% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $410k (10.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#83 in OH, #1,228 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities D-, commute F.
• Bay Village City (suburban): math 85% / reading 87% proficiency, ranked #15 of 656 in OH (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Normandy Elementary School (498 students, 6% FRL); Bay Middle School (math 86% / reading 86%, grade A+, #13 of 654 statewide, top 2%, 700 students, 7% FRL); Bay High School (math 72% / reading 92%, grade A, #23 of 781 statewide, top 3%, 781 students, 4% FRL) — zoned schools at 6% FRL track the district average.
• Market conditions: 73 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• Cuyahoga County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 31y 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 $186k; list at $460k implies a 147% gain — meaningful room to come down on a strong offer.
• Cap rate 5.9% vs local median 3.2% in Bay Village — 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.
• This rent runs 40% of the median local income ($122k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.