16 Grand Blvd · Olmsted Falls, OH 44138

$39,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 53 Days on market

Built 1976 $30/sqft · 19% below area Est $49k · 19% under ↓ 7% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +6.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots For Your Money!!! 3 Bdrms, 2 Full Baths, Living Rm, Dining Rm, Familyrm, Enclosed Sunrm. Great Floorplan, Spacious, Airy, Open. 1440 S. F. Sits On A Beautiful Corner Lot. All Appliances But Washer/Dryer. Gas Heat W/ Central Air. $299 Is Monthly Lot Rental Fee. Who Can Ask For Anything More!!!

Key facts

• Dog walking path
• Bocce ball
• Gated entrance

Tags

• GATED ENTRANCE
• ON SITE SHOPPING PLAZA
• WALKING PATH
• DOG WALKING PATH
• SHUFFLEBOARD
• BOCCE BALL

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• Financial info: Property has a land lease (monthly amount reported)
• HOA & community: Monthly association fee; association management included; Senior community

Exterior

• Parking: Carport (2 carport spaces)
• Security: Gated community
• Utilities: Public water; Private sewer
• Home design: Single-story home; Owner-reported year built; Asphalt/fiberglass roof; Wood siding
• Construction: Wood siding construction; Asphalt/fiberglass roof
• Exterior features: Enclosed porch; Patio; Shed(s); Corner lot

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: Three main-level bedrooms (all on the first floor)
• Flooring: Carpet in bedrooms and sunroom; Laminate flooring in living room, kitchen, family room and dining room
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Forced air gas heating; Central air conditioning
• Interior features: Sunroom with carpeted floor; Window treatments throughout public rooms
• Laundry & utility: In-unit laundry with dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 43.1% vs local median 4.2% in Olmsted Falls — 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 73/100 on livability (#343 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Olmsted Falls City (suburban): math 70% / reading 70% proficiency, ranked #134 of 656 in OH (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 183 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $10k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 4.76% ✓
• Cap rate: 43.08%
• Cash-on-cash: 131.38%
• DSCR: 6.85
• GRM: 1.8

CMA / ARV

• ARV (median comp): $49,098
• List price: $39,900
• Delta: -18.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.02×
• Total profit: $67,272
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 14.76×
• Total profit: $153,720
• Equity at exit: $3,450

Cash invested: $11,172 (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 44138

• Home prices YoY: -30.8%
• Active inventory: 183
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,897 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $1,157

Break-even live

Break-even rent $433

Max offer price $39,900

Occupancy floor 34%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26875 Bagley Rd Olmsted Twp, OH	1.0–3.0	1.0–2.0	890	$1,299	$1.46	3d	1	1.20mi
5785 Fitch Rd North Olmsted, OH	2.0	1.0	1080	$1,650	$1.53	44d	1	1.36mi
8450 Daylily DR Olmsted Falls, OH	2.0–3.0	2.5	1541	$2,680	$1.74	2d	10	1.43mi

Listing history 20 events

1. 2026-06-18
   days on market $39,900 Active 53 DOM
2. 2026-06-17
   days on market $39,900 Active 52 DOM
3. 2026-06-16
   days on market $39,900 Active 51 DOM
4. 2026-06-15
   days on market $39,900 Active 50 DOM
5. 2026-06-13
   days on market $39,900 Active 48 DOM
6. 2026-06-13
   pricedays on market $39,900 Active 47 DOM
7. 2026-06-09
   days on market $49,900 Active 44 DOM
8. 2026-06-08
   days on market $49,900 Active 43 DOM
9. 2026-06-07
   days on market $49,900 Active 42 DOM
10. 2026-06-03
    days on market $49,900 Active 38 DOM
11. 2026-06-02
    days on market $49,900 Active 37 DOM
12. 2026-06-01
    days on market $49,900 Active 36 DOM
13. 2026-05-31
    days on market $49,900 Active 35 DOM
14. 2026-04-26
    listed $49,900 Active 813-char remark
15. 2004-04-30
    soldstatus $30,000 298-char remark

    Show marketing remark (298 chars)

    Lots For Your Money!!! 3 Bdrms, 2 Full Baths, Living Rm, Dining Rm, Familyrm, Enclosed Sunrm. Great Floorplan, Spacious, Airy, Open. 1440 S. F. Sits On A Beautiful Corner Lot. All Appliances But Washer/Dryer. Gas Heat W/ Central Air. $299 Is Monthly Lot Rental Fee. Who Can Ask For Anything More!!!

16. 2003-10-31
    listed $34,900 298-char remark

    Show marketing remark (298 chars)

    Lots For Your Money!!! 3 Bdrms, 2 Full Baths, Living Rm, Dining Rm, Familyrm, Enclosed Sunrm. Great Floorplan, Spacious, Airy, Open. 1440 S. F. Sits On A Beautiful Corner Lot. All Appliances But Washer/Dryer. Gas Heat W/ Central Air. $299 Is Monthly Lot Rental Fee. Who Can Ask For Anything More!!!

17. 2003-09-25
    historical
18. 2003-06-25
    listed $38,900
19. 2003-06-09
    historical
20. 2003-03-09
    listed $42,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,767
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$997
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$1,161
• Taxable income: $14,133
• Est. tax owed @ 24.0%: −$3,392
• After-tax cash flow: $10,488/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: Olmsted Falls City
• NCES district ID: 3904657
• Math proficiency: 70% ▼ -14.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $68,307
• Composite: 61.12/100
• National rank: #787
• State rank: #134 of 656 in OH

Livability — Olmsted Falls

• Score: 73/100
• State rank: #343
• US rank: #5595

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cuyahoga · 1,045,444 people
• Metro: Cleveland, OH
• Population (ZIP): 23,129
• Household income: $93,877
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 7.6

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% Hispanic / Latino 9% Two or more races 6% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada, Jamaica, China
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Arabic 1%

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: ▼ -89.76%
• Current HPI: 201.9716
• Rent YoY: —
• Metro: —
• 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

-7.0% since first listed

8 events — show timeline

• 2026-06-10 Price Changed $39,900 MLSNOW
• 2026-04-26 Listed $49,900 MLSNOW
• 2004-04-30 Sold (MLS) $30,000 MLSNOW
• 2003-10-31 Listed $34,900 MLSNOW
• 2003-09-25 Listing Removed — MLSNOW
• 2003-06-25 Listed $38,900 MLSNOW
• 2003-06-09 Listing Removed — MLSNOW
• 2003-03-09 Listed $42,900 MLSNOW