29798 Schwartz Rd · Westlake, OH 44145

$450,000

3 bd · 2.5 ba · 2,380 sqft · SingleFamily public records · 2 Days on market

Built 1987 0.34 ac lot $189/sqft · 21% below area Est $568k · 21% 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 +7.2/30.0
• Schools +6.6/10.0
• Livability +4.1/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW! This stylish and trendy Westlake home will wow you from the moment you enter! A 2-story foyer, sleek modern staircase and new wood look ceramic floors greet you. Tastefully designed fashionable kitchen with vaulted ceiling, cabinets, gas cooktop, stainless steel appliances and granite countertops opens to a fabulous family room with American walnut floors, fireplace, bay window and built-in bookshelves. First floor space currently used as an office with could be a bedroom with its updated adjacent bathroom. The remodeled laundry/mud room is something out of HGTV with built ins and features galore-you might even enjoy doing laundry here! The classy formal dining room and light filled living room boast relaxing entertaining and living space. French doors from kitchen open to serene fenced in yard with stunning wood deck, modern shed and treehouse playground. On to the 2nd floor- the wood floors continue up the staircase into the convenient guest room. 2nd comfortable bedroom is carp

Key facts

• 0.34 acre lot
• 2 garage spots
• Built 1987

Property features AI

Finance

• HOA & community: Common grounds/area; Nearby park; Nearby shopping; Access to medical services

Exterior

• Parking: Attached garage; Two garage spaces; Garage with drain, electricity and garage door opener; Paved driveway
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Two-story home; Faces south
• Construction: Vinyl siding; Asphalt/fiberglass roof
• Exterior features: Deck; Porch; Outbuilding / shed(s) for storage; Full privacy vinyl fencing; Wooded lot; Property has a view

Interior

• Kitchen: Built-in oven; Cooktop; Dishwasher; Disposal; Microwave; Refrigerator
• Bathrooms: Two full bathrooms; One half bathroom; One main-level bathroom
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Granite counters; Smart thermostat; Vaulted ceilings; Walk-in closets; Full partially finished basement with sump pump; Wood-burning fireplace in family room
• Laundry & utility: Main-level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $-615 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $341k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (30.3% below list).
• Recommended offer: $314k (30.3% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.4% in Westlake — 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 82/100 on livability (#79 in OH, #1,202 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Westlake City (suburban): math 71% / reading 79% proficiency, ranked #76 of 656 in OH (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Westlake Elementary School (math 80% / reading 75%, grade A, #213 of 1,584 statewide, top 14%, 1,217 students, 15% FRL); Lee Burneson Middle School (math 75% / reading 83%, grade A+, #54 of 654 statewide, top 9%, 498 students, 16% FRL); Westlake High School (math 56% / reading 81%, grade B, #130 of 781 statewide, top 17%, 1,066 students, 15% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 166 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 34% of the median local income ($112k/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 $3k of loan paydown is wiped out by about $14k 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.
• 3 sale attempts since 11y 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 $313,601 (30.3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.70% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.85%
• DSCR: 0.74
• GRM: 12.0

CMA / ARV

• ARV (median comp): $568,456
• List price: $450,000
• Delta: -20.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29798 Schwartz Rd	0.00mi	3/2.5	2,380 (0%)	1mo	$527,000	$221	99
29966 Washington Way	0.10mi	3/2.0	2,250 (-6%)	16mo	$520,000	$231	71
30844 Hilliard Blvd	0.38mi	4/3.0 (+1)	2,382 (+0%)	12mo	$350,000	$147	66
3270 Bradley Rd	0.35mi	4/2.5 (+1)	2,306 (-3%)	10mo	$448,000	$194	65
29611 Indian Ridge Cv	0.54mi	3/2.5	2,324 (-2%)	15mo	$410,776	$177	58
4050 Bradley Rd	0.73mi	4/3.0 (+1)	2,329 (-2%)	14mo	$640,000	$275	44
31311 Schwartz Rd	0.58mi	3/2.5	2,715 (+14%)	23mo	$535,000	$197	31

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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -27.1%
• Equity multiple: 0.09×
• Total profit: $-114,157
• Equity at exit: $67,096

10-year hold

• IRR: -27.4%
• Equity multiple: -0.26×
• Total profit: $-158,288
• Equity at exit: $38,908

Cash invested: $126,000 (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 44145

• Rents YoY: 2.3%
• Active inventory: 166
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $3,136 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$545 /mo · $6,536/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $-615

Break-even live

Break-even rent $3,914

Max offer price $341,432

Occupancy floor —

Sensitivity live

Price	-10% $-360	-5% $-487	+0% $-615	+5% $-742	+10% $-869
Rent	-10% $-862	-5% $-738	+0% $-615	+5% $-491	+10% $-367
Rate	-1.0pp $-388	-0.5pp $-500	base $-615	+0.5pp $-731	+1.0pp $-850

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29395 Hummingbird Cir Westlake, OH	3.0	2.0	1846	$3,200	$1.73	12d	1	0.74mi
2695 Wyndgate Ct Westlake, OH	3.0	2.5	1819	$3,500	$1.92	45d	1	0.75mi
2601 Wyndgate Ct Westlake, OH	3.0	2.5	1819	$3,000	$1.65	3d	1	0.88mi
28310 Center Ridge Rd Westlake, OH	3.0	2.0	2120	$2,300	$1.08	3d	1	1.02mi
131 Vine St #51 Westlake, OH	2.0	2.5	1750	$3,750	$2.14	45d	1	1.25mi
314 Halstead Ln Westlake, OH	2.0	2.5	1792	$3,900	$2.18	3d	1	1.31mi
27 Ashbourne Dr Westlake, OH	2.0	2.5	2128	$4,100	$1.93	3d	1	1.39mi

Listing history 11 events

1. 2026-05-02
   status Pending 1783-char remark
2. 2026-04-30
   listed $450,000 Active 1783-char remark
3. 2019-01-11
   soldstatus $341,000 Sold 1000-char remark

   Show marketing remark (1000 chars)

   WOW! This stylish and trendy Westlake home will wow you from the moment you enter! A 2-story foyer, sleek modern staircase and new wood look ceramic floors greet you. Tastefully designed fashionable kitchen with vaulted ceiling, cabinets, gas cooktop, stainless steel appliances and granite countertops opens to a fabulous family room with American walnut floors, fireplace, bay window and built-in bookshelves. First floor space currently used as an office with could be a bedroom with its updated adjacent bathroom. The remodeled laundry/mud room is something out of HGTV with built ins and features galore-you might even enjoy doing laundry here! The classy formal dining room and light filled living room boast relaxing entertaining and living space. French doors from kitchen open to serene fenced in yard with stunning wood deck, modern shed and treehouse playground. On to the 2nd floor- the wood floors continue up the staircase into the convenient guest room. 2nd comfortable bedroom is carp

4. 2019-01-11
   soldstatus $341,000

   Show marketing remark (1000 chars)

   WOW! This stylish and trendy Westlake home will wow you from the moment you enter! A 2-story foyer, sleek modern staircase and new wood look ceramic floors greet you. Tastefully designed fashionable kitchen with vaulted ceiling, cabinets, gas cooktop, stainless steel appliances and granite countertops opens to a fabulous family room with American walnut floors, fireplace, bay window and built-in bookshelves. First floor space currently used as an office with could be a bedroom with its updated adjacent bathroom. The remodeled laundry/mud room is something out of HGTV with built ins and features galore-you might even enjoy doing laundry here! The classy formal dining room and light filled living room boast relaxing entertaining and living space. French doors from kitchen open to serene fenced in yard with stunning wood deck, modern shed and treehouse playground. On to the 2nd floor- the wood floors continue up the staircase into the convenient guest room. 2nd comfortable bedroom is carp

5. 2018-12-10
   status Pending 1000-char remark

   Show marketing remark (1000 chars)

   WOW! This stylish and trendy Westlake home will wow you from the moment you enter! A 2-story foyer, sleek modern staircase and new wood look ceramic floors greet you. Tastefully designed fashionable kitchen with vaulted ceiling, cabinets, gas cooktop, stainless steel appliances and granite countertops opens to a fabulous family room with American walnut floors, fireplace, bay window and built-in bookshelves. First floor space currently used as an office with could be a bedroom with its updated adjacent bathroom. The remodeled laundry/mud room is something out of HGTV with built ins and features galore-you might even enjoy doing laundry here! The classy formal dining room and light filled living room boast relaxing entertaining and living space. French doors from kitchen open to serene fenced in yard with stunning wood deck, modern shed and treehouse playground. On to the 2nd floor- the wood floors continue up the staircase into the convenient guest room. 2nd comfortable bedroom is carp

6. 2018-11-23
   historical Contingent 1000-char remark

   Show marketing remark (1000 chars)

   WOW! This stylish and trendy Westlake home will wow you from the moment you enter! A 2-story foyer, sleek modern staircase and new wood look ceramic floors greet you. Tastefully designed fashionable kitchen with vaulted ceiling, cabinets, gas cooktop, stainless steel appliances and granite countertops opens to a fabulous family room with American walnut floors, fireplace, bay window and built-in bookshelves. First floor space currently used as an office with could be a bedroom with its updated adjacent bathroom. The remodeled laundry/mud room is something out of HGTV with built ins and features galore-you might even enjoy doing laundry here! The classy formal dining room and light filled living room boast relaxing entertaining and living space. French doors from kitchen open to serene fenced in yard with stunning wood deck, modern shed and treehouse playground. On to the 2nd floor- the wood floors continue up the staircase into the convenient guest room. 2nd comfortable bedroom is carp

7. 2018-11-16
   listed $329,900 Active 1000-char remark

   Show marketing remark (1000 chars)

   WOW! This stylish and trendy Westlake home will wow you from the moment you enter! A 2-story foyer, sleek modern staircase and new wood look ceramic floors greet you. Tastefully designed fashionable kitchen with vaulted ceiling, cabinets, gas cooktop, stainless steel appliances and granite countertops opens to a fabulous family room with American walnut floors, fireplace, bay window and built-in bookshelves. First floor space currently used as an office with could be a bedroom with its updated adjacent bathroom. The remodeled laundry/mud room is something out of HGTV with built ins and features galore-you might even enjoy doing laundry here! The classy formal dining room and light filled living room boast relaxing entertaining and living space. French doors from kitchen open to serene fenced in yard with stunning wood deck, modern shed and treehouse playground. On to the 2nd floor- the wood floors continue up the staircase into the convenient guest room. 2nd comfortable bedroom is carp

8. 2015-03-17
   soldstatus $254,000 Sold

   Show marketing remark (338 chars)

   Welcome to this meticulously maintained colonial; many updates include Trane HVAC, appliances, painting, etc. Situated on a gorgeous treed lot. Side load garage. Very open & bright floor plan. Some vaulted ceilings. First floor den or 4th bedroom. Three large bedrooms on second floor, partially finished basement, deck off kitchen.

9. 2015-03-17
   soldstatus $254,000

   Show marketing remark (338 chars)

   Welcome to this meticulously maintained colonial; many updates include Trane HVAC, appliances, painting, etc. Situated on a gorgeous treed lot. Side load garage. Very open & bright floor plan. Some vaulted ceilings. First floor den or 4th bedroom. Three large bedrooms on second floor, partially finished basement, deck off kitchen.

10. 2015-03-04
    listed Contingent

    Show marketing remark (338 chars)

    Welcome to this meticulously maintained colonial; many updates include Trane HVAC, appliances, painting, etc. Situated on a gorgeous treed lot. Side load garage. Very open & bright floor plan. Some vaulted ceilings. First floor den or 4th bedroom. Three large bedrooms on second floor, partially finished basement, deck off kitchen.

11. 1987-11-24
    soldstatus $150,000

ⓘ 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: $6,536 · $545/mo
• Projected year-2 tax: $6,778 · $565/mo
• Expected delta: +$242/yr (+$20/mo · 3.7%)

ⓘ 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 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,632
• − Mortgage interest: −$25,207
• − Property taxes: −$6,536
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,011
• − Management: −$3,011
• − Depreciation: −$13,091
• Taxable loss: −$15,473
• Est. tax savings @ 24.0%: +$3,714
• After-tax cash flow: $-3,661/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: Westlake City
• NCES district ID: 3904506
• Math proficiency: 71% ▼ -12.00%
• Reading proficiency: 79% ▼ -7.00%
• Median HH income: $74,709
• Composite: 65.85/100
• National rank: #451
• State rank: #76 of 656 in OH

Livability — Westlake

• Score: 82/100
• State rank: #79
• US rank: #1202

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westlake, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 34,104
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 34,104
• Household income: $112,200
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 690.0

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 (85%)
• Race & ethnicity: White 85% Asian 7% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 7% Lithuanian 3% Subsaharan African 2%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 84% English-only · Arabic 5% Other Indo-European 4% Russian/Polish/Slavic 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: ▼ -191.97%
• Current HPI: 202.4805
• Rent YoY: ▲ 2.32%
• 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

+251.3% since first listed

12 events — show timeline

• 2026-06-02 Sold (MLS) $527,000 MLSNOW
• 2026-05-02 Pending — MLSNOW
• 2026-04-30 Listed $450,000 MLSNOW
• 2019-01-11 Sold (Public Records) $341,000 Public Records
• 2019-01-11 Sold (MLS) $341,000 MLSNOW
• 2018-12-10 Pending — MLSNOW
• 2018-11-23 Contingent — MLSNOW
• 2018-11-16 Listed $329,900 MLSNOW
• 2015-03-17 Sold (Public Records) $254,000 Public Records
• 2015-03-17 Sold (MLS) $254,000 MLSNOW
• 2015-03-04 Listed — MLSNOW
• 1987-11-24 Sold (Public Records) $150,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $6,536 · -1.7% YoY. Source: county tax records.