21 Greenhaven Dr Unit GRE21 · Olmsted Falls, OH 44138

$116,900

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 175 Days on market

Built 2025 Good condition ↓ 8% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

Key facts

• Built 2025
• Listed 175 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $117k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $117k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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; 4 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 $808 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 + 3.0% rent growth), your $33k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 175 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $102,872 (12.0% below list)

Questions for the listing agent

1. It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.47% ✓
• Cap rate: 11.94%
• Cash-on-cash: 20.18%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.3%
• Equity multiple: 1.37×
• Total profit: $11,949
• Equity at exit: $17,430

10-year hold

• IRR: 18.5%
• Equity multiple: 2.54×
• Total profit: $50,367
• Equity at exit: $10,107

Cash invested: $32,732 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,719 medium
• Mortgage (P&I): −$613
• Tax est. 1.5%: −$146 /mo · $1,754/yr
• Insurance: −$49
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $484

Break-even live

Break-even rent $1,107

Max offer price $116,900

Occupancy floor 67%

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: $29,225
• Closing costs: $3,507
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	$1,199	$1.35	2d	1	1.17mi
5785 Fitch Rd North Olmsted, OH	2.0	1.0	1080	$1,650	$1.53	43d	1	1.33mi
8450 Daylily DR Olmsted Falls, OH	2.0–3.0	2.5	1541	$2,410	$1.56	1d	10	1.37mi
27080 Oakwood Dr Olmsted Falls, OH	1.0–2.0	1.0–2.0	975	$1,780	$1.83	1d	39	1.45mi

Listing history 25 events

1. 2026-06-03
   days on market $116,900 Active 175 DOM
2. 2026-06-02
   days on market $116,900 Active 174 DOM
3. 2026-06-01
   days on market $116,900 Active 173 DOM
4. 2026-05-31
   days on market $116,900 Active 172 DOM
5. 2026-05-06
   status Active 59-char remark

   Show marketing remark (59 chars)

   Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

6. 2026-05-05
   historical 59-char remark

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   Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

7. 2026-04-28
   price $116,900 59-char remark

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   Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

8. 2026-04-20
   status Active 59-char remark

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   Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

9. 2026-04-20
   historical 59-char remark

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   Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

10. 2026-04-13
    status Active 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

11. 2026-04-13
    historical 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

12. 2026-04-03
    status Active 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

13. 2026-04-03
    historical 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

14. 2026-03-16
    price $118,900 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

15. 2026-03-02
    status Active 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

16. 2026-03-02
    historical 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

17. 2026-02-27
    status Active 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

18. 2026-02-27
    historical 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

19. 2026-02-26
    status Active 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

20. 2026-02-26
    historical 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

21. 2026-02-20
    price $119,999 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

22. 2026-02-09
    status Active 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

23. 2026-02-09
    historical 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

24. 2025-12-28
    price $125,333 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

25. 2025-12-03
    listed $126,900 Active 59-char remark

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    Move-In Ready 2 Bedroom, 2 Bath Home with Spacious Bedrooms

ⓘ 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: $20,632
• − Mortgage interest: −$6,548
• − Property taxes: −$1,754
• − Insurance: −$1,382
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − Depreciation: −$3,401
• Taxable income: $4,247
• Est. tax owed @ 24.0%: −$1,019
• After-tax cash flow: $4,788/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.

Condition & rehab AI · 3 photos

Good 75/100 Cosmetic rehab

This move-in ready manufactured home is in good condition with minimal cosmetic updates needed to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior — Fresh paint enhances curb appeal and value
• Both Landscaping — Well-maintained landscaping improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Fresh paint enhances curb appeal and value ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-7.9% since first listed

21 events — show timeline

• 2026-05-06 Relisted — Zillow
• 2026-05-05 Delisted — Zillow
• 2026-04-28 Price Changed $116,900 Zillow
• 2026-04-20 Relisted — Zillow
• 2026-04-20 Delisted — Zillow
• 2026-04-13 Relisted — Zillow
• 2026-04-13 Delisted — Zillow
• 2026-04-03 Relisted — Zillow
• 2026-04-03 Delisted — Zillow
• 2026-03-16 Price Changed $118,900 Zillow
• 2026-03-02 Relisted — Zillow
• 2026-03-02 Delisted — Zillow
• 2026-02-27 Relisted — Zillow
• 2026-02-27 Delisted — Zillow
• 2026-02-26 Relisted — Zillow
• 2026-02-26 Delisted — Zillow
• 2026-02-20 Price Changed $119,999 Zillow
• 2026-02-09 Relisted — Zillow
• 2026-02-09 Delisted — Zillow
• 2025-12-28 Price Changed $125,333 Zillow
• 2025-12-03 Listed $126,900 Zillow