I've purchased a tp-link archer c7 (v5.0) and installed openwrt on it.
The internet comes over cable in house: 500/20 Mbps
Now, I switched the ISP box to modem mode: no router functionality at all and connected my new router to it.
My problem is, that the internet speed with this configuration dropped from the original 500/20 to 200/20.
I would appreciate any hint/suggestion how to overcome this issue.
Rather weak, for today's standards, single core CPU. It will not make it to route with masquerade enabled such speeds. My 11 year old RouterStation Pro has same specs and I had to replace it to be able to reach my 250Mbps speeds.
In some cases the vendor firmware is enabling some kind of NAT offloading which can speed up the connection, however it is still not fully implemented in OpenWrt.
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You can try it with enabled flow_offloading in the firewall settings, which will offload connections to a shorter and less cpu intensive path through the kernel.
You should reach about 800 Mbit/s if you don't use sqm/qos and without pppoe.
You will need at least OpenWrt 19.07 for this.
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This did the trick! Thank you guys! 
that a gateway typically it'll have ipv6 support too >>(managed by isp)>>> - i'm sure calibration of your router would be a requirement no matter what os runs on it. I understand what you're saying i have similar setups but i also know that between routers, speeds vary a lot, for many reasons ; cpu, nics ,firmware ram, etc but also browser setup, what extensions are active can also affect your speedtest - I would go through the router's settings carefully and research what i don't dig maybe run wireshark to see and hear what's making so much noise and traffic and possibly set up an iperf for WAN tests use (public) server +local/client and use that instead it's all network and no javascript ; )
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