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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Residential income homes
1560 Wagar Rd Rocky River, OH 44116-2354
Individually Owned
2-yr Hold
Property ID
US66-0147079
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1956
Construction
WOOD
Total area
4,402 SF
Lot
0.67 ac (29,225 SF)
Zoning code
MF-R4
APN
303-01-011
UPID
US66-0147079
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
$810k
Comparable Approach
Comparable
$577k
Blend (final)
Blend
$620k
Owner & transaction history
Christopher Miller · 2 yrs held
Christopher Miller
since 2023
Last sale
$635,000
7 recorded transactions
Zoning & alternative use
MF-R4 · Rocky River, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$710,000
+118.6%
Medical building
$480,000
+46.9%
Neighborhood: shopping center
$445,000
+36.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Rocky River submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rocky River submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$645,000
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
$875,000
6.5%
$810,000
7%
$750,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$710,000
Change: +119% · Conversion: Moderate
MEDICAL BUILDING
$480,000
Change: +47% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$445,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$390,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±10% · vs last sale $635k (Nov 9 2023)
Last sale anchor
$635k
Nov 9 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$141 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,500
Tax year 2023
Assessed value
$105,000
Assessed 2023
Previous assessed
$105,000
+0.0% YoY
Effective rate
10.00%
On assessed value
Assessed land
$79,450
Assessed improvement
$25,550
Land market value
$227,000
Improvement market value
$73,000
Total market value
$300,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1956
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
4
Bathrooms
4
Total area
4,402 SF
Lot
0.67 ac (29,225 SF)
Zoning code
MF-R4
APN
303-01-011
UPID
US66-0147079
Jurisdiction
CUYAHOGA
Zoning & alternative use
MF-R4 · Rocky River, OH
Zoning MF-R4 · permitted uses
MF-R4 · Rocky River, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rocky River. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$710,000
MEDICAL BUILDING
Est. value
$480,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$445,000
AUTO REPAIR, GARAGE
Est. value
$390,000
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1956
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
4
Bathrooms
4
Lot
0.67 ac
Current owner
From public records · entity-resolved
Christopher Miller
Individual
Mailing address
255 FALMOUTH DR, ROCKY RIVER, OH 44116-1324
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2023
$635,000
Christopher Miller
Dwcle Holdings LLC
Warranty Deed
$434,500 · United Wholesale Mortgage
Jun 27, 2022
—
Dwcle Holdings LLC
Cpd Realty And Holdings LLC
Warranty Deed
—
Mar 15, 2022
$485,000
Cpd Realty And Holdings LLC
156o Wagar Road LLC
Warranty Deed
$140,000 · Lorraine Rembold
Mar 20, 2019
—
1560 Wagar Road LLC
Gkhe Apartment Properties LLC
Warranty Deed
related
—
Apr 30, 2018
$337,500
Gkhe Apartment Properties LLC
Hannemann,william J
Grant Deed
—
Sep 16, 2013
—
Hannemann,william J Tr
Hannemann Family Trust
Quit Claim Deed
related
—
Jul 10, 2006
—
Hannemann Family Living Trust
Hannemann W Living Trust
Quit Claim Deed
related
—
Feb 14, 2005
$300,000
Hannemann William J Trust
Cutler,susanna M
Warranty Deed
—
Oct 4, 2001
$300,000
Hannemann Trust
Cutler,susanna M
Grant Deed
$275,000 · Susanna M
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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