1994 Aldersgate Dr · Lyndhurst, OH 44124

$275,000

3 bd · 1.5 ba · 1,800 sqft · SingleFamily public records · 3 Days on market

Built 1963 0.25 ac lot $153/sqft · 17% below area Est $332k · 17% under

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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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.8/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One-family-owned split level on a great street in Lyndhurst, well maintained throughout the years and set on over . 25-acre with an enclosed porch and low-maintenance composite deck. This spacious home features 3 bedrooms, 2 full baths, and over 1,800 sq ft of living space. The main level includes a living room with a beamed vaulted ceiling that flows seamlessly into the dining room with access to the enclosed porch, ideal for extended living and entertaining. The eat-in kitchen is equipped with a double wall oven, gas cooktop, and a dedicated dinette area. The lower level offers additional living space with a family room featuring built-ins and a full bath. An attached 2-car garage adds co

Key facts

• Double wall oven
• Gas cooktop
• Enclosed porch

Tags

• ENCLOSED PORCH
• LOW-MAINTENANCE COMPOSITE DECK
• BEAMED VAULTED CEILING
• DOUBLE WALL OVEN
• GAS COOKTOP
• DEDICATED DINETTE AREA

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2-story home; About 1,800 above-grade finished area; Slab foundation
• Construction: Brick construction; Asphalt/fiberglass roof; Built (year per public records)
• Exterior features: Deck; Enclosed porch; Patio; Porch; Lot dimensions approximately 75 x 148

Interior

• Kitchen: Built-in oven; Cooktop; Dishwasher; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Forced-air gas heating
• Interior features: Total of 7 rooms
• Laundry & utility: Washer hookup; Gas dryer hookup; Washer; Dryer; Laundry tub; Utility sink; Laundry area on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Cap rate 7.8% vs local median 5.5% in Lyndhurst — 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 (#76 in OH, #1,152 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• South Euclid-Lyndhurst City (suburban): math 23% / reading 45% proficiency, ranked #556 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.5%/yr); 178 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 43% of the median local income ($82k/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 $2k of loan paydown is wiped out by about $8k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $275,000

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• GRM: 7.7

CMA / ARV

• ARV (median comp): $331,892
• List price: $275,000
• Delta: -17.14%
• 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
1994 Aldersgate Dr	0.00mi	3/2.0	1,800 (0%)	1mo	$293,000	$163	97
1884 Brainard Rd	0.23mi	3/1.5	1,698 (-6%)	3mo	$285,000	$168	78
1848 Dunellon Dr	0.47mi	3/1.5	1,736 (-4%)	10mo	$270,000	$156	64
1758 Kenton Cir	0.47mi	3/2.0	1,852 (+3%)	10mo	$294,000	$159	63
5507 Meadow Wood Blvd	0.33mi	3/2.5	1,918 (+7%)	10mo	$295,000	$154	62
2034 Aldersgate Dr	0.07mi	4/2.5 (+1)	2,044 (+14%)	10mo	$320,000	$157	57
5419 Huron Rd	0.62mi	4/2.0 (+1)	1,754 (-3%)	8mo	$305,500	$174	53
1876 Dunellon Dr	0.47mi	3/2.5	1,592 (-12%)	6mo	$286,000	$180	50
1656 Lyndhurst Rd	0.57mi	3/2.5	1,936 (+8%)	9mo	$250,000	$129	50
1766 Longwood Dr	0.61mi	3/2.0	2,020 (+12%)	0mo	$203,000	$100	49
5238 Longton Rd	0.73mi	3/2.0	1,549 (-14%)	1mo	$270,000	$174	40
1568 Sunview Rd	0.73mi	3/2.0	1,999 (+11%)	10mo	$255,000	$128	37

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 · 4.45% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.77×
• Total profit: $-17,458
• Equity at exit: $41,003

10-year hold

• IRR: 5.4%
• Equity multiple: 1.43×
• Total profit: $32,895
• Equity at exit: $23,777

Cash invested: $77,000 (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 44124

• Rents YoY: 4.5%
• Active inventory: 178
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,970 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$434 /mo · $5,211/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$624
• Net cashflow: $355

Break-even live

Break-even rent $2,520

Max offer price $275,000

Occupancy floor 83%

Sensitivity live

Price	-10% $511	-5% $433	+0% $355	+5% $277	+10% $199
Rent	-10% $120	-5% $238	+0% $355	+5% $472	+10% $590
Rate	-1.0pp $493	-0.5pp $425	base $355	+0.5pp $284	+1.0pp $211

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2021 Aldersgate Dr Cleveland, OH	4.0	2.5	2012	$2,850	$1.42	45d	1	0.06mi
28790 Addison Ct Pepper Pike, OH	2.0–3.0	2.5	2105	$6,100	$2.90	3d	3	0.55mi
28875 Addison Ct Cleveland, OH	3.0	2.5	2337	$4,975	$2.13	45d	1	0.56mi
5670 Cherokee Dr Cleveland, OH	4.0	2.0	1920	$1,950	$1.02	8d	1	0.61mi
1620 Brainard Rd Cleveland, OH	3.0	1.5	1501	$2,275	$1.52	16d	1	0.64mi
27040 Cedar Rd Beachwood, OH	3.0	1.0–2.5	845	$1,881	$2.22	3d	99	0.73mi
1678 Byron Dr Cleveland, OH	3.0	2.0	2390	$2,200	$0.92	12d	1	0.85mi
26600 George Zeiger Dr Beachwood, OH	1.0–3.0	1.0–3.0	1734	$5,375	$3.10	3d	40	0.86mi
26900 Amhearst Cir Beachwood, OH	1.0–2.0	1.0–2.0	1070	$2,460	$2.30	3d	13	0.98mi
26101 Village Ln #107 Beachwood, OH	2.0	2.0	1276	$2,500	$1.96	3d	1	1.09mi
26150 Village Ln Beachwood, OH	1.0–3.0	1.5–2.0	1482	$3,550	$2.39	3d	9	1.11mi
1735 Chelmsford Rd Cleveland, OH	3.0	2.0	1300	$2,200	$1.69	45d	1	1.32mi
1270 Roland Rd Cleveland, OH	4.0	2.0	1720	$2,450	$1.42	45d	1	1.32mi
2141 Halcyon Rd Beachwood, OH	4.0	2.5	2390	$4,000	$1.67	4d	1	1.46mi

Listing history 2 events

1. 2026-05-04
   status Pending 1036-char remark
2. 2026-05-01
   listed $275,000 Active 1036-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: $5,211 · $434/mo
• Projected year-2 tax: $5,211 · $434/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,635
• − Mortgage interest: −$15,404
• − Property taxes: −$5,211
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,851
• − Management: −$2,851
• − Depreciation: −$8,000
• Taxable loss: −$57
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $4,273/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: South Euclid-Lyndhurst City
• NCES district ID: 3904479
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $61,244
• Composite: 30.51/100
• National rank: #6212
• State rank: #556 of 656 in OH

Livability — Lyndhurst

• Score: 82/100
• State rank: #76
• US rank: #1152

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lyndhurst, OH
• County: Cuyahoga County · 1,090,369 people
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 39,779
• Household income: $82,392
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 1286.0

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 (69%)
• Race & ethnicity: White 69% Black 15% Two or more races 7% Asian 6% Hispanic / Latino 4%
• Common ancestry: Romanian 6% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 14% · Canada, China, Vietnam
• Languages at home: 84% English-only · Russian/Polish/Slavic 4% Other Indo-European 4% Spanish 3%

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: ▼ -212.96%
• Current HPI: 164.108
• Rent YoY: ▲ 4.45%
• 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

+6.5% since first listed

3 events — show timeline

• 2026-05-29 Sold (MLS) $293,000 MLSNOW
• 2026-05-04 Pending — MLSNOW
• 2026-05-01 Listed $275,000 MLSNOW

Property tax history

+3.9%/yr

Latest (2025): $5,211 · +10.5% YoY. Source: county tax records.