17220 Sheldon Ct Unit 48B · Brook Park, OH 44142

$152,000

3 bd · 1.5 ba · 1,134 sqft · Condo public records · 6 Days on market

Built 1975 $198/mo HOA · 12% of rent

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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 +16.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• DSCR +5.3/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic 3 bedroom, 1.5 bath opportunity WITH full basement! Tasteful updates thru-out, neutral paint and finishes! Patio doors off the dining area lead to a a private/fenced in patio. This is an end unit with an attached 1 car garage! A MUST SEE!

Key facts

• $198 HOA
• Garage
• Built 1975

Property features AI

Finance

• Financial info: Pets allowed: Dogs OK
• HOA & community: Liberty Bell association; Monthly association fee of $198; Association covers management, insurance, grounds maintenance, and snow removal

Exterior

• Parking: Attached garage with 1 parking space
• Utilities: Public water service; Public sewer service
• Home design: 2-story residence; Entry level: 1
• Construction: Built (year source: public records); Aluminum and vinyl siding; Asphalt roof
• Exterior features: Public water; Public sewer

Interior

• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, partially finished basement
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $152k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $152k).
• Cap rate 7.1% vs local median 5.2% in Brook Park — 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 74/100 on livability (#273 in OH, #4,475 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities 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: 44 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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.
• Current owner paid $80k; list at $152k implies a 90% gain — meaningful room to come down on a strong offer.

Recommended offer $152,000

Questions for the listing agent

1. Built in 1975 — 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. 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. 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 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: 1.12% ✓
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-18,036
• Equity at exit: $22,664

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-6,815
• Equity at exit: $13,142

Cash invested: $42,560 (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 44142

• Active inventory: 44
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,701 medium
• Mortgage (P&I): −$797
• Tax from tax record: −$184 /mo · $2,206/yr
• Insurance: −$63
• HOA: −$198
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $101

Break-even live

Break-even rent $1,572

Max offer price $152,000

Occupancy floor 89%

Sensitivity live

Price	-10% $187	-5% $144	+0% $101	+5% $58	+10% $15
Rent	-10% $-33	-5% $34	+0% $101	+5% $168	+10% $236
Rate	-1.0pp $178	-0.5pp $140	base $101	+0.5pp $62	+1.0pp $22

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: $38,000
• Closing costs: $4,560
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16261 Remora Blvd Brook Park, OH	3.0	1.0	936	$1,750	$1.87	45d	1	1.21mi

HOA detail condo

• Monthly dues: $198 · $2,376/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-20
   listed $152,000 Active
2. 2018-09-07
   soldstatus $80,000
3. 1990-05-31
   soldstatus $63,000
4. 1987-11-04
   soldstatus $46,700
5. 1987-10-22
   soldstatus $46,700
6. 1985-08-08
   soldstatus $44,500
7. 1979-09-07
   soldstatus $46,500

ⓘ 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: $2,206 · $184/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$83/yr (+$7/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
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $20,408
• − Mortgage interest: −$8,514
• − Property taxes: −$2,206
• − Insurance: −$760
• − Repairs & maintenance: −$1,633
• − Management: −$1,633
• − HOA: −$2,376
• − Depreciation: −$4,422
• Taxable loss: −$1,135
• Est. tax savings @ 24.0%: +$272
• After-tax cash flow: $1,488/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 — Brook Park

• Score: 74/100
• State rank: #273
• US rank: #4475

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brook Park, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 18,359
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 18,284
• Household income: $71,332
• Rent vs Own: 17.4% rent · 82.6% own
• Severe rent burden: 275.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Black 6% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 11% Subsaharan African 2% Scotch-Irish 1%
• Foreign-born: 5% · Canada, India, China
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -177.54%
• Current HPI: 193.7004
• 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

+226.9% since first listed

7 events — show timeline

• 2026-05-20 Listed $152,000 MLSNOW
• 2018-09-07 Sold (Public Records) $80,000 Public Records
• 1990-05-31 Sold (Public Records) $63,000 Public Records
• 1987-11-04 Sold (Public Records) $46,700 Public Records
• 1987-10-22 Sold (Public Records) $46,700 Public Records
• 1985-08-08 Sold (Public Records) $44,500 Public Records
• 1979-09-07 Sold (Public Records) $46,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,206 · -0.6% YoY. Source: county tax records.