877 Arden Ave · Berea, OH 44017

$290,000

6 bd · 3.0 ba · 3,328 sqft · MultiFamily public records · 6 Days on market

Built 1977 10,053 sqft lot Est $347k · 16% under

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Why this score? — see what drove the B- 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 +23.8/30.0
• ARV discount +14.9/15.0
• DSCR +7.7/10.0
• 1% rule +6.6/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Rare side -by-side Duplex in beautiful Berea. Each unit has 3 large bedrooms on the upper floor with great closet space! A large full bath up services all bedrooms. The first floor has a large eat-in kitchen, back door hall with entrance to in suite laundry and 1/2 bath combo. There is also a large formal dining room off the kitchen, an oversized living room, and another full front hall coat closet. There is a 2+ car detached garage and additional parking for oversized vehicles up to 3 more. Lots of living and storage space here! Located near the College, airport, shopping / dining Berea Commons and beautiful walkable Metro Parks. New roof on house in 2024. No basement, no flooding! Grea

Key facts

• In suite laundry
• Large eat-in kitchen
• Side-by-side duplex

Tags

• SIDE-BY-SIDE DUPLEX
• LARGE EAT-IN KITCHEN
• IN SUITE LAUNDRY
• FORMAL DINING ROOM
• OVERSIZED LIVING ROOM
• DETACHED GARAGE

Property features AI

Finance

• Other: Two rentable units (both listed as leased)
• Financial info: Owner pays insurance, sewer, and water; Tenant pays cable TV, electricity, and heat

Exterior

• Parking: Detached 2-car garage; Additional concrete parking; Carport
• Utilities: Public water; Public sewer
• Home design: 2-story building; Single building (multi-unit); Pitched shingle roof
• Construction: Brick and frame construction with aluminum siding; Asphalt/fiberglass shingle roof
• Exterior features: Uncovered courtyard; Front yard; Back yard; Wooded lot

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two 3‑bedroom units (each unit has 3 bedrooms)
• Bathrooms: Each unit has 2 full bathrooms; Two half bathrooms in the building
• Heating & cooling: Baseboard heating; Electric heating; Heat pump
• Interior features: Eat-in kitchen; Total of 16 rooms
• Laundry & utility: In-unit laundry on the main level

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive. Per door: $279/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Cap rate 8.6% vs local median 4.8% in Berea — 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 80/100 on livability (#136 in OH, #1,955 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, commute F.
• Berea City (suburban): math 47% / reading 56% proficiency, ranked #414 of 656 in OH (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,371/mo this rent would consume 54% of the median local household income ($75k/yr) (locally 356% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.16% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.25%
• DSCR: 1.37
• GRM: 7.2

CMA / ARV

• ARV (median comp): $346,899
• List price: $290,000
• Delta: -16.40%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-11,314
• Equity at exit: $43,240

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $36,401
• Equity at exit: $25,074

Cash invested: $81,200 (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 44017

• Active inventory: 59
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,371 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$463 /mo · $5,557/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $558

Break-even live

Break-even rent $2,664

Max offer price $290,000

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$3,370
Total (2 units)			$3,371

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-13
   listed $290,000 Active 765-char remark

ⓘ 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: $5,557 · $463/mo
• Projected year-2 tax: $5,557 · $463/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 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: $40,452
• − Mortgage interest: −$16,245
• − Property taxes: −$5,557
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,236
• − Management: −$3,236
• − Depreciation: −$8,436
• Taxable income: $2,292
• Est. tax owed @ 24.0%: −$550
• After-tax cash flow: $6,151/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: Berea City
• NCES district ID: 3904360
• Math proficiency: 47% ▼ -17.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $51,921
• Composite: 44.18/100
• National rank: #2856
• State rank: #414 of 656 in OH

Livability — Berea

• Score: 80/100
• State rank: #136
• US rank: #1955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berea, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 18,279
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 18,279
• Household income: $75,231
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 356.0

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 (79%)
• Race & ethnicity: White 79% Black 8% Two or more races 8% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 11% Slovak 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Chinese 0%

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: ▼ -139.89%
• Current HPI: 208.8113
• 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

2 events — show timeline

• 2026-05-19 Pending — MLSNOW
• 2026-05-13 Listed $290,000 MLSNOW

Property tax history

+2.8%/yr

Latest (2025): $5,557 · -0.1% YoY. Source: county tax records.