6484 State Rd Unit D6 · Parma, OH 44134

$142,000

3 bd · 1.5 ba · 1,420 sqft · Condo public records · 15 Days on market

Built 1968 $275/mo HOA · 14% of rent

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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 +20.8/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 6484 State Road D6, a spacious 3-bedroom, 1.5-bath condo in Parma, Ohio, offering low-maintenance living, great community amenities, and a convenient location. Perfect for first-time buyers, downsizers, or anyone seeking an affordable home with room to make it their own. The main living area features an open floor plan with a large living room, a wood-burning fireplace, and plenty of space for everyday living and entertaining. A separate family room adds flexibility and includes sliding glass doors leading to a private patio, ideal for relaxing or hosting guests. The dining area flows into the kitchen, which offers ample cabinet storage and workspace. Three generously sized bedro

Key facts

• Open floor plan
• Community amenities
• Swimming pool

Tags

• OPEN FLOOR PLAN
• WOOD BURNING FIREPLACE
• PRIVATE PATIO
• AMPLE CABINET STORAGE
• COMMUNITY AMENITIES
• SWIMMING POOL

Property features AI

Finance

• Other: Located on a cul-de-sac; Below-grade finished area in lower level (estimated)
• HOA & community: Homeowners association with monthly fee; Association fee includes insurance, grounds and structure maintenance, pool(s), roof, sewer, snow removal, trash, and water; Community amenities include playground and pool

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener; Concrete driveway; Guest parking available
• Utilities: Public water; Public sewer
• Home design: 2-story residence; Entry level: 1; Attached property (townhome/attached unit)
• Construction: Brick and vinyl siding exterior; Asphalt roof; Block foundation; Built (year per public records)
• Exterior features: Patio; Playground access; Outdoor community pool (private pool listed as amenities)

Interior

• Kitchen: Stainless steel dishwasher; Microwave; Breakfast bar
• Bedrooms: Multiple bedrooms on the second floor (bedrooms include window treatments and large closet in one room)
• Flooring: Ceramic tile in living, dining, and kitchen areas; Carpet in bedrooms, family room, and lower level; Concrete flooring in lower-level laundry area
• Bathrooms: One full bathroom; One half bathroom; Main level full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (gas)
• Interior features: Window treatments throughout; Bookcases; Laminate counters; Open floorplan; Partially finished basement; Wood burning fireplace in living room
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $142k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $140k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 5.0% in Parma — 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 (#84 in OH, #1,232 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, cost of living A+; Watch: employment C-, commute F.
• Parma City (suburban): math 43% / reading 52% proficiency, ranked #469 of 656 in OH (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.6%/yr); 118 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 33% of the median local income ($69k/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 $982 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $40k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $142k implies a 137% gain — meaningful room to come down on a strong offer.

Recommended offer $139,870 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — 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. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-209
• Equity at exit: $21,173

10-year hold

• IRR: 15.1%
• Equity multiple: 2.58×
• Total profit: $62,797
• Equity at exit: $12,278

Cash invested: $39,760 (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 44134

• Rents YoY: 10.6%
• Active inventory: 118
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,912 high
• Mortgage (P&I): −$745
• Tax from tax record: −$236 /mo · $2,827/yr
• Insurance: −$59
• HOA: −$275
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $196

Break-even live

Break-even rent $1,664

Max offer price $142,000

Occupancy floor 85%

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4191 W Ridgewood Dr Unit 4193 Parma, OH	4.0	3.0	1800	$1,950	$1.08	43d	1	0.14mi
5080 Whispering Oaks BLVD Parma, OH	3.0	2.0	1332	$1,799	$1.35	12d	1	0.60mi
3415 Center Dr Cleveland, OH	3.0	1.0	1048	$1,995	$1.90	1d	1	0.71mi
6841 Day Dr Cleveland, OH	1.0–3.0	1.0–1.5	862	$1,525	$1.77	2d	5	1.01mi
6403 Ridge Rd Cleveland, OH	2.0	2.0	1110	$1,450	$1.31	16d	1	1.11mi
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	43d	1	1.25mi
6099 Ridge Rd Cleveland, OH	2.0	1.0	1020	$1,200	$1.18	21d	1	1.28mi
7903 Ackley Rd Unit 7903 Parma, OH	3.0	1.0	1100	$1,600	$1.45	43d	1	1.38mi
6505 Snow Rd Unit REAR Parma, OH	3.0	1.5	1312	$1,599	$1.22	7d	1	1.42mi
7906 Lanyard Dr Unit 1496071P Parma, OH	4.0	1.5	1227	$5,834	$4.75	7d	1	1.47mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-18
   days on market $142,000 Active 15 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $142,000 Active 14 DOM

ⓘ 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: $2,827 · $236/mo
• Projected year-2 tax: $2,827 · $236/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,938
• − Mortgage interest: −$7,954
• − Property taxes: −$2,827
• − Insurance: −$710
• − Repairs & maintenance: −$1,835
• − Management: −$1,835
• − HOA: −$3,300
• − Depreciation: −$4,131
• Taxable income: $347
• Est. tax owed @ 24.0%: −$83
• After-tax cash flow: $2,266/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: Parma City
• NCES district ID: 3904463
• Math proficiency: 43% ▼ -18.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $50,371
• Composite: 40.72/100
• National rank: #3662
• State rank: #469 of 656 in OH

Livability — Parma

• Score: 82/100
• State rank: #84
• US rank: #1232

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parma, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 66,574
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 37,774
• Household income: $68,625
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 668.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Black 3% Asian 3%
• Common ancestry: Romanian 14% Subsaharan African 6% Slovak 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 84% English-only · Russian/Polish/Slavic 7% Spanish 3% Other Indo-European 2%

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: ▼ -215.17%
• Current HPI: 184.0553
• Rent YoY: ▲ 10.56%
• 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

+136.7% since first listed

2 events — show timeline

• 2026-06-03 Listed $142,000 MLSNOW
• 1985-12-10 Sold (Public Records) $60,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,827 · -6.9% YoY. Source: county tax records.