Real Estate Investing in Chagrin Falls, Ohio (44023)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 44023 (Chagrin Falls, OH)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Chagrin Falls, OH (44023)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 44023 Chagrin Falls
This part of Geauga County is not an easy win. The 44023 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,728/mo on a $502K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 44023 sits below the stated 0.0% once reality is priced in.
The gap between 44023 and stronger Chagrin Falls ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 44023 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 44023 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Chagrin Falls:
Property Strategy for 44023
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $248,983 | $1,920 | 5.6% | +6.8% | $124,492 |
| 3BR | $380,694 | $2,470 | 4.7% | +7.7% | $126,898 |
| 4BR | $571,208 | $2,640 | 3.3% | +7.9% | $142,802 |
| 5BR | $725,730 | — | — | +8.0% | $145,146 |
Market Trends
Home Value History (with trend line)
📊 How Does 44023 Compare?
| Metric | 44023 | Chagrin Falls | Cleveland-Elyria, OH | Ohio |
|---|---|---|---|---|
| Home Value | $502,172 | $559,841 | N/A | $237,530 |
| 5-Year CAGR | 6.8% | 7.2% | N/A | 7.4% |
| Avg Rent | $1,728 | $1,697 | N/A | - |
| Cap Rate | 2.7% | 2.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 44023 (Chagrin Falls, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $502,172 |
| Monthly Rent | $1,728 |
| Price-to-Rent | 24.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 44023
Population: 18,905
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 44023
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 607 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much do tenants pay in Chagrin Falls, OH?
Rental rates in Chagrin Falls, OH average $1,728/mo. Tenant demand and $502K home values make the yield look reasonable by investor standards.
What kind of tenants rent in Chagrin Falls, OH?
Expect a solid tenant pool in Chagrin Falls, OH. The rental market absorbs $1,728/mo rents without meaningful friction.
Is housing expensive in Chagrin Falls, OH?
Homes in Chagrin Falls, OH typically sell near $502K. Prices have moved at a 0.0% 5-year CAGR, which predictable long-term demand.
What is the investability score for Chagrin Falls, OH?
Chagrin Falls, OH scores 3.0/5 for investability. Home values sit at $502K and rents near $1,728/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is Chagrin Falls, OH landlord-friendly?
Chagrin Falls, OH operates under OH law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
You know 44023 now. You don’t know where it ranks.
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How 44023 ranks in Cleveland-Elyria, OH
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