16555 Wren Rd Unit 1F · Bainbridge, OH 44023

$185,000

2 bd · 2.0 ba · 1,232 sqft · Condo · 32 Days on market

Built 1980 $150/sqft · 14% below area Est $215k · 14% under $308/mo HOA · 13% 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 +19.8/30.0
• ARV discount +13.8/15.0
• Schools +7.9/10.0
• 1% rule +7.4/10.0
• DSCR +6.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Location! New In Last 30 Days:all Carpeting, Vinyl Kitchen Flooring, Range & Hood, Refrigerator, Most Light Fixtures, Interior Paint. Many Other Improvements. Ready To Move In, Immediate Occupancy. Beautiful Wooded Setting Close To Shopping, Entertainment, Freeway Access.

Key facts

• Guest bedroom office
• Natural light
• Private patio

Tags

• PRIVATE PATIO
• WOODED SETTING
• NATURAL LIGHT
• GUEST BEDROOM OFFICE
• EN SUITE BATH
• ONE FLOOR LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.1% in Bainbridge — 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 68/100 on livability (#546 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Chagrin Falls Exempted Village (suburban): math 87% / reading 90% proficiency, ranked #6 of 656 in OH (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 3% free/reduced lunch — higher-income household profile.
• Market conditions: 94 active listings in the ZIP; high-income renter base; 220 units permitted in Geauga County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Geauga County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y 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 $125k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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: 1.24% ✓
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 6.7

CMA / ARV

• ARV (median comp): $215,000
• List price: $185,000
• Delta: -13.95%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.3%
• Equity multiple: 0.69×
• Total profit: $-15,822
• Equity at exit: $27,584

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $5,072
• Equity at exit: $15,995

Cash invested: $51,800 (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 44023

• Active inventory: 94
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,285 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$308
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $219

Break-even live

Break-even rent $2,008

Max offer price $185,000

Occupancy floor 85%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $308 · $3,696/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-02
   statusdays on market $185,000 Pending 32 DOM
2. 2026-06-01
   days on market $185,000 Active 31 DOM
3. 2026-05-31
   days on market $185,000 Active 30 DOM
4. 2026-05-01
   listed $190,000 Active 1034-char remark
5. 2004-11-25
   historical
6. 2004-07-06
   soldstatus $125,000

   Show marketing remark (284 chars)

   Great Location! New In Last 30 Days:all Carpeting, Vinyl Kitchen Flooring, Range & Hood, Refrigerator, Most Light Fixtures, Interior Paint. Many Other Improvements. Ready To Move In, Immediate Occupancy. Beautiful Wooded Setting Close To Shopping, Entertainment, Freeway Access.

7. 2004-05-25
   listed $129,900

   Show marketing remark (284 chars)

   Great Location! New In Last 30 Days:all Carpeting, Vinyl Kitchen Flooring, Range & Hood, Refrigerator, Most Light Fixtures, Interior Paint. Many Other Improvements. Ready To Move In, Immediate Occupancy. Beautiful Wooded Setting Close To Shopping, Entertainment, Freeway Access.

8. 2004-05-25
   listed $129,900

   Show marketing remark (284 chars)

   Great Location! New In Last 30 Days:all Carpeting, Vinyl Kitchen Flooring, Range & Hood, Refrigerator, Most Light Fixtures, Interior Paint. Many Other Improvements. Ready To Move In, Immediate Occupancy. Beautiful Wooded Setting Close To Shopping, Entertainment, Freeway Access.

9. 2000-06-06
   soldstatus $110,000
10. 2000-02-26
    listed $114,900
11. 1999-03-03
    historical
12. 1998-09-03
    listed $94,900

ⓘ 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
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,421
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,194
• − Management: −$2,194
• − HOA: −$3,696
• − Depreciation: −$5,382
• Taxable loss: −$107
• Est. tax savings @ 24.0%: +$26
• After-tax cash flow: $2,651/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: Chagrin Falls Exempted Village
• NCES district ID: 3904528
• Math proficiency: 87% ▼ -5.00%
• Reading proficiency: 90% ▼ -3.00%
• Median HH income: $89,907
• Composite: 78.52/100
• National rank: #77
• State rank: #6 of 656 in OH

Livability — Bainbridge

• Score: 68/100
• State rank: #546
• US rank: #9170

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bainbridge, OH
• County: Geauga · 90,510 people
• Metro: Cleveland, OH
• Population (ZIP): 18,905
• Household income: $130,452
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 2.0

Population outlook (Geauga County) Hauer SSP2

• Today (2025): 94,919 people
• By 2030: 94,804 · -0.1%
• By 2040: 92,641 · -2.4%
• By 2050: 88,198 · -7.1%
• By 2075: 79,080 · -16.7%
• By 2100: 60,856 · -35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Black 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 9% Slovak 3% Scotch-Irish 2%
• Foreign-born: 3% · Canada, Vietnam, Jamaica
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1% Tagalog/Filipino 1%

Political lean MEDSL · Geauga

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.7%
• 2008→2024 swing: -8.8pp toward R · 2008: -15.4pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+23.1 2016: R+25.5 2012: R+21.6 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.84%
• Current HPI: 196.7428
• Rent YoY: —
• Metro: —
• 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

+94.9% since first listed

13 events — show timeline

• 2026-06-02 Pending — MLSNOW
• 2026-05-27 Price Changed $185,000 MLSNOW
• 2026-05-21 Relisted — MLSNOW
• 2026-05-21 Contingent — MLSNOW
• 2026-05-01 Listed $190,000 MLSNOW
• 2004-11-25 Listing Removed — MLSNOW
• 2004-07-06 Sold (MLS) $125,000 MLSNOW
• 2004-05-25 Listed $129,900 MLSNOW
• 2004-05-25 Listed $129,900 MLSNOW
• 2000-06-06 Sold (MLS) $110,000 MLSNOW
• 2000-02-26 Listed $114,900 MLSNOW
• 1999-03-03 Listing Removed — MLSNOW
• 1998-09-03 Listed $94,900 MLSNOW