215 Dalepark Dr #1 · Bedford, OH 44146

$75,000

2 bd · 1.0 ba · 896 sqft · Condo public records · 28 Days on market

Built 1957 $230/mo HOA · 19% of rent

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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 +27.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity in the heart of Bedford! This updated 2-bedroom, 1-bath townhome is tenant-occupied and generating $1,100 per month (MTM) with room for increase to market rent, or sec 8 payment standard of $1,400. Offering immediate cash flow and flexibility for investors or future owner occupants. Located in a desirable area close to shopping, dining, parks, and highway access, this well-maintained property features updated finishes and a functional layout designed for comfortable living. Whether you’re looking to expand your portfolio or secure a low-maintenance rental property, this townhome presents a solid opportunity with strong rental appeal.

Key facts

• Immediate cash flow
• Tenant occupied
• Close to shopping

Tags

• INVESTMENT OPPORTUNITY
• TENANT OCCUPIED
• IMMEDIATE CASH FLOW
• FLEXIBILITY FOR INVESTORS
• DESIRABLE AREA
• CLOSE TO SHOPPING

Property features AI

Finance

• HOA & community: Homeowners association (Bedford Dales) with a monthly fee of $230 covering structure maintenance

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer
• Home design: 2-story building; Entry level is 1st floor
• Construction: Brick construction; Flat roof; Built according to public records
• Exterior features: Parking lot

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Total of 4 rooms
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 5.4% in Bedford — 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 73/100 on livability (#324 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Bedford City (suburban): math 19% / reading 32% proficiency, ranked #597 of 656 in OH (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.8%/yr); 105 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $34k; list at $75k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.64% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.48%
• DSCR: 1.56
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.83% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.26×
• Total profit: $5,509
• Equity at exit: $11,183

10-year hold

• IRR: 18.9%
• Equity multiple: 2.86×
• Total profit: $38,991
• Equity at exit: $6,485

Cash invested: $21,000 (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 44146

• Rents YoY: 5.8%
• Active inventory: 105
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$393
• Tax from tax record: −$97 /mo · $1,162/yr
• Insurance: −$31
• HOA: −$230
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $218

Break-even live

Break-even rent $951

Max offer price $75,000

Occupancy floor 77%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
199 Dalepark Dr Bedford, OH	2.0	1.0	896	$1,300	$1.45	43d	1	0.01mi
215 Dalepark Dr #4 Bedford, OH	2.0	1.0	896	$1,400	$1.56	17d	1	0.03mi
200 Solon Rd Unit 3 Bedford, OH	2.0	1.0	850	$1,100	$1.29	4d	1	0.49mi
204 Solon Rd Bedford, OH	2.0	1.0	900	$1,200	$1.33	3d	1	0.50mi
204 Solon Rd Apt 2 Bedford, OH	2.0	1.0	900	$1,200	$1.33	4d	1	0.50mi
39 Woodrow Ave Unit FRONT Bedford, OH	1.0	1.0	600	$750	$1.25	7d	1	0.74mi
14 Ennis Ave Bedford, OH	3.0	2.0	1064	$1,495	$1.41	43d	1	1.14mi
6055 Bear Creek Dr Bedford Heights, OH	1.0–2.0	1.0–1.5	815	$1,081	$1.33	2d	30	1.33mi

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $75,000 Active 28 DOM
2. 2026-06-17
   days on market $75,000 Active 27 DOM
3. 2026-06-16
   days on market $75,000 Active 26 DOM
4. 2026-06-15
   days on market $75,000 Active 25 DOM
5. 2026-06-13
   days on market $75,000 Active 23 DOM
6. 2026-06-09
   days on market $75,000 Active 19 DOM
7. 2026-06-08
   days on market $75,000 Active 18 DOM
8. 2026-06-07
   days on market $75,000 Active 17 DOM
9. 2026-06-05
   days on market $75,000 Active 14 DOM
10. 2026-06-03
    days on market $75,000 Active 13 DOM
11. 2026-06-02
    days on market $75,000 Active 12 DOM
12. 2026-06-01
    days on market $75,000 Active 11 DOM
13. 2026-05-31
    days on market $75,000 Active 10 DOM
14. 2026-05-21
    listed $75,000 Active
15. 2024-04-29
    price $67,500
16. 2024-04-12
    price $70,000
17. 2024-03-31
    listed $75,000 Active
18. 1996-06-25
    soldstatus $34,000
19. 1975-04-01
    soldstatus $17,500

ⓘ 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: $1,162 · $97/mo
• Projected year-2 tax: $1,166 · $97/mo
• Expected delta: +$4/yr ($0/mo · 0.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $14,730
• − Mortgage interest: −$4,201
• − Property taxes: −$1,162
• − Insurance: −$375
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − HOA: −$2,760
• − Depreciation: −$2,182
• Taxable income: $1,693
• Est. tax owed @ 24.0%: −$406
• After-tax cash flow: $2,214/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: Bedford City
• NCES district ID: 3910017
• Math proficiency: 19% ▼ -23.00%
• Reading proficiency: 32% ▼ -16.00%
• Median HH income: $42,353
• Composite: 21.69/100
• National rank: #8273
• State rank: #597 of 656 in OH

Livability — Bedford

• Score: 73/100
• State rank: #324
• US rank: #5334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 29,349
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 29,349
• Household income: $54,925
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 1314.0

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: Majority Black (59%)
• Race & ethnicity: Black 59% White 33% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Serbian 1% Armenian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

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: ▼ -114.08%
• Current HPI: 172.9421
• Rent YoY: ▲ 5.83%
• 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

+328.6% since first listed

6 events — show timeline

• 2026-05-21 Listed $75,000 MLSNOW
• 2024-04-29 Price Changed $67,500 MLSNOW
• 2024-04-12 Price Changed $70,000 MLSNOW
• 2024-03-31 Listed $75,000 MLSNOW
• 1996-06-25 Sold (Public Records) $34,000 Public Records
• 1975-04-01 Sold (Public Records) $17,500 Public Records

Property tax history

+25.6%/yr

Latest (2025): $1,162 · +4.5% YoY. Source: county tax records.