Bowman Plan · Westlake, OH 44145

$376,990

3 bd · 2.5 ba · 1,854 sqft · Townhouse · 668 Days on market

Excellent condition

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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).

• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Condition / age +4.8/5.0
• Livability +4.1/5.0
• Rent growth +3.1/5.0
• 1% rule +2.3/10.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The stunning kitchen with large island flows easily to the gathering room and café. Choose the sunroom addition for another quiet retreat. The second-floor owner's suite is tucked away and offers a spa-like bathroom and oversized walk-in closet.

Key facts

• Gathering room
• Large island
• Sunroom addition

Tags

• STUNNING KITCHEN
• LARGE ISLAND
• GATHERING ROOM
• CAFÉ
• SUNROOM ADDITION
• OWNER'S SUITE

🏗️ New construction. The $376,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $447,676.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $377k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-523 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $372k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $325k (13.7% below list).
• Recommended offer: $325k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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); 168 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 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 35% 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 $13k 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 668 days — a 12% lower offer ($332k) is reasonable based on typical stale-listing flexibility.

Recommended offer $325,401 (13.7% 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 668 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.01%
• DSCR: 0.78
• GRM: 11.5

CMA / ARV

• ARV (median comp): $447,676
• List price: $376,990
• Delta: -15.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1669 Merlot Ln	0.02mi	3/2.5	1,854 (0%)	1mo	$415,000	$224	98
1717 Merlot Ln	0.02mi	3/2.5	1,954 (+5%)	1mo	$479,500	$245	90
1721 Merlot Ln	0.02mi	3/2.5	1,954 (+5%)	6mo	$483,230	$247	85
1725 Merlot Ln	0.02mi	3/2.5	2,054 (+11%)	2mo	$489,000	$238	79
28186 Zinfandel Ct	0.07mi	4/2.5 (+1)	1,997 (+8%)	0mo	$486,990	$244	78
28167 Zinfandel Ct	0.12mi	3/2.0	1,954 (+5%)	7mo	$479,500	$245	78
28163 Zinfandel Ct	0.12mi	3/2.5	2,064 (+11%)	2mo	$489,000	$237	74
879 S Parkside Dr	0.66mi	3/2.5	1,847 (-0%)	4mo	$409,000	$221	65
840 Woodside Dr	0.72mi	3/2.5	1,902 (+3%)	8mo	$380,000	$200	55
885 Serviceberry Ct	0.70mi	3/2.5	1,802 (-3%)	10mo	$395,000	$219	55
844 Woodside Dr	0.72mi	3/2.5	1,921 (+4%)	9mo	$399,000	$208	53
27843 Ironwood Ct	0.63mi	3/2.5	2,052 (+11%)	2mo	$433,000	$211	52

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: -25.6%
• Equity multiple: 0.14×
• Total profit: $-108,023
• Equity at exit: $66,750

10-year hold

• IRR: -24.1%
• Equity multiple: -0.16×
• Total profit: $-145,718
• Equity at exit: $38,707

Cash invested: $125,349 (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: 168
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,254 high
• Mortgage (P&I): −$2,348
• Tax est. 1.5%: −$560 /mo · $6,715/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $-523

Break-even live

Break-even rent $3,916

Max offer price $371,980

Occupancy floor —

Sensitivity live

Price	-10% $-214	-5% $-368	+0% $-523	+5% $-678	+10% $-833
Rent	-10% $-780	-5% $-652	+0% $-523	+5% $-395	+10% $-266
Rate	-1.0pp $-298	-0.5pp $-409	base $-523	+0.5pp $-639	+1.0pp $-757

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: $111,919
• Closing costs: $13,430
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
177 Market St Westlake, OH	3.0	1.0–2.0	1034	$3,200	$3.09	0d	41	1.04mi
131 Vine St #51 Westlake, OH	2.0	2.5	1750	$3,750	$2.14	46d	1	1.11mi
2547 Wyndgate Ct #2547 Westlake, OH	3.0	2.5	1514	$3,200	$2.11	26d	1	1.14mi
314 Halstead Ln Westlake, OH	2.0	2.5	1792	$3,900	$2.18	0d	1	1.15mi
27 Ashbourne Dr Westlake, OH	2.0	2.5	2128	$4,100	$1.93	0d	1	1.16mi
2601 Wyndgate Ct Westlake, OH	3.0	2.5	1819	$3,000	$1.65	4d	1	1.21mi
2672 Wyndgate Ct #2672 Westlake, OH	3.0	2.5	1514	$3,000	$1.98	26d	1	1.31mi
2695 Wyndgate Ct Westlake, OH	3.0	2.5	1819	$3,500	$1.92	46d	1	1.32mi

Listing history 20 events

1. 2026-06-22
   days on market $376,990 Active 668 DOM
2. 2026-06-21
   days on market $376,990 Active 667 DOM
3. 2026-06-18
   days on market $376,990 Active 664 DOM
4. 2026-06-17
   days on market $376,990 Active 663 DOM
5. 2026-06-16
   days on market $376,990 Active 662 DOM
6. 2026-06-15
   days on market $376,990 Active 661 DOM
7. 2026-06-13
   days on market $376,990 Active 659 DOM
8. 2026-06-13
   days on market $376,990 Active 658 DOM
9. 2026-06-09
   days on market $376,990 Active 655 DOM
10. 2026-06-08
    days on market $376,990 Active 654 DOM
11. 2026-06-07
    days on market $376,990 Active 653 DOM
12. 2026-06-05
    days on market $376,990 Active 650 DOM
13. 2026-06-03
    days on market $376,990 Active 649 DOM
14. 2026-06-02
    days on market $376,990 Active 648 DOM
15. 2026-06-01
    days on market $376,990 Active 647 DOM
16. 2026-05-31
    days on market $376,990 Active 646 DOM
17. 2025-09-04
    price $376,990 252-char remark

    Show marketing remark (252 chars)

    The stunning kitchen with large island flows easily to the gathering room and café. Choose the sunroom addition for another quiet retreat. The second-floor owner's suite is tucked away and offers a spa-like bathroom and oversized walk-in closet.

18. 2025-05-03
    price $368,990 252-char remark

    Show marketing remark (252 chars)

    The stunning kitchen with large island flows easily to the gathering room and café. Choose the sunroom addition for another quiet retreat. The second-floor owner's suite is tucked away and offers a spa-like bathroom and oversized walk-in closet.

19. 2025-01-10
    price $367,990 252-char remark

    Show marketing remark (252 chars)

    The stunning kitchen with large island flows easily to the gathering room and café. Choose the sunroom addition for another quiet retreat. The second-floor owner's suite is tucked away and offers a spa-like bathroom and oversized walk-in closet.

20. 2024-08-24
    listed $376,990 Active 252-char remark

    Show marketing remark (252 chars)

    The stunning kitchen with large island flows easily to the gathering room and café. Choose the sunroom addition for another quiet retreat. The second-floor owner's suite is tucked away and offers a spa-like bathroom and oversized walk-in closet.

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

Taxation est. · year 1

• Rental income: $39,048
• − Mortgage interest: −$25,077
• − Property taxes: −$6,715
• − Insurance: −$2,238
• − Repairs & maintenance: −$3,124
• − Management: −$3,124
• − Depreciation: −$13,023
• Taxable loss: −$14,253
• Est. tax savings @ 24.0%: +$3,421
• After-tax cash flow: $-2,857/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 · 12 photos

Excellent 95/100 None rehab

This townhouse is in excellent condition with modern finishes and a well-maintained exterior. It offers a great opportunity for a buyer looking for a move-in ready home.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Replace window treatments — Modern window treatments improve curb appeal and interior aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Replace window treatments — Modern window treatments improve curb appeal and interior aesthetics ↑

ⓘ 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: 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

+0.0% since first listed

4 events — show timeline

• 2025-09-04 Price Changed $376,990 Zillow
• 2025-05-03 Price Changed $368,990 Zillow
• 2025-01-10 Price Changed $367,990 Zillow
• 2024-08-24 Listed $376,990 Zillow