2433 Tuxedo Ave · Parma, OH 44134

$224,921

3 bd · 2.0 ba · 1,831 sqft · MultiFamily public records · 9 Days on market

Built 1929 5,950 sqft lot Est $260k · 13% under

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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
• ARV discount +13.6/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Come house hack and live in the up unit or add to your portfolio this solid duplex or this could be your start to an investment portfolio. See the up unit first and its spacious living room, eat in kitchen, sunporch OR make the space into an additional bedroom. 2020: Down unit Hot Water Tank - New Garage Roof / 2021: New Roof on House / 2023: Up Unit stove / 2024: Down Unit Stove & Dishwasher. Close to Freeway - Not far from Downtown Cleveland - Quiet Neighborhood

Key facts

• Stable rental income
• Natural light
• Cash-flowing duplex

Tags

• CASH-FLOWING DUPLEX
• STABLE RENTAL INCOME
• STRONG APPRECIATION POTENTIAL
• CONSISTENT TENANT DEMAND
• SPACIOUS UNITS
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Detached garage (2 spaces)
• Utilities: Public water; Public sewer
• Home design: Two-story home; Vinyl siding exterior; Asphalt roof
• Construction: Built by owner (year source: owner); Vinyl siding construction; Asphalt roof
• Exterior features: Private yard; Outdoor storage

Interior

• Kitchen: Eat-in kitchen with breakfast bar
• Bedrooms: Bedrooms located on main and upper levels
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced-air gas heating
• Interior features: Breakfast bar; Ceiling fan(s); Eat-in kitchen; High-speed internet; Built-in storage; Natural woodwork
• Laundry & utility: In-unit laundry located in the basement / lower level

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $881 ($11k/yr) — positive. Per door: $440/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Cap rate 11.0% 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; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,136/mo this rent would consume 55% of the median local household income ($69k/yr) (locally 668% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 $63k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 33y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $195k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $224,921

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.39% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.78%
• DSCR: 1.75
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $260,002
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2831 North Ave	0.20mi	4/2.5 (+1)	1,780 (-3%)	1mo	$233,500	$131	78
1906 North Ave	0.35mi	4/2.0 (+1)	1,764 (-4%)	13mo	$250,000	$142	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 13.6%
• Equity multiple: 1.58×
• Total profit: $36,289
• Equity at exit: $33,536

10-year hold

• IRR: 26.1%
• Equity multiple: 3.85×
• Total profit: $179,552
• Equity at exit: $19,447

Cash invested: $62,978 (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: 12.0×

Monthly cashflow live

• Estimated rent: $3,136 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$324 /mo · $3,883/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $881

Break-even live

Break-even rent $2,021

Max offer price $224,921

Occupancy floor 67%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$3,136
Total (2 units)			$3,136

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: $56,230
• Closing costs: $6,748
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3330 Fortune Ave Cleveland, OH	3.0	1.5	1258	$1,775	$1.41	44d	1	0.51mi
4407 Woodway Ave Cleveland, OH	3.0	2.0	1728	$1,750	$1.01	24d	1	0.79mi
2915 Snow Rd Unit 2/UP Parma, OH	3.0	1.5	2378	$1,550	$0.65	24d	1	0.81mi
4606 Lincoln Ave Cleveland, OH	3.0	2.0	1418	$1,995	$1.41	2d	1	0.92mi
2001 Tampa Ave Unit 1496127P Cleveland, OH	3.0	2.5	1840	$6,450	$3.51	8d	1	1.16mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	4d	1	1.28mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	8d	1	1.28mi
6007 Merkle Ave Unit Down Parma, OH	3.0	1.0	1250	$1,399	$1.12	2d	1	1.40mi

Listing history 44 events

1. 2026-06-18
   days on market $224,921 Active 9 DOM
2. 2026-06-17
   days on market $224,921 Active 8 DOM
3. 2026-06-16
   days on market $224,921 Active 7 DOM
4. 2026-06-15
   days on market $224,921 Active 6 DOM
5. 2026-06-13
   days on market $224,921 Active 4 DOM
6. 2026-06-13
   days on market $224,921 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   days on marketlisting id $224,921 Active 1 DOM
9. 2026-06-09
   days on market $224,921 Active 12 DOM
10. 2026-06-08
    days on market $224,921 Active 11 DOM
11. 2026-06-07
    days on market $224,921 Active 10 DOM
12. 2026-06-05
    days on market $224,921 Active 7 DOM
13. 2026-06-03
    days on market $224,921 Active 6 DOM
14. 2026-06-02
    days on market $224,921 Active 5 DOM
15. 2026-06-01
    days on market $224,921 Active 4 DOM
16. 2026-05-31
    days on market $224,921 Active 3 DOM
17. 2026-05-28
    listed $224,921 Active
18. 2026-05-28
    historical
19. 2026-05-28
    listed $224,921 Active
20. 2024-05-28
    soldstatus $195,000
21. 2024-05-24
    soldstatus $195,000 Closed 474-char remark

    Show marketing remark (474 chars)

    Come house hack and live in the up unit or add to your portfolio this solid duplex or this could be your start to an investment portfolio. See the up unit first and its spacious living room, eat in kitchen, sunporch OR make the space into an additional bedroom. 2020: Down unit Hot Water Tank - New Garage Roof / 2021: New Roof on House / 2023: Up Unit stove / 2024: Down Unit Stove & Dishwasher. Close to Freeway - Not far from Downtown Cleveland - Quiet Neighborhood

22. 2024-05-11
    status Pending 474-char remark

    Show marketing remark (474 chars)

    Come house hack and live in the up unit or add to your portfolio this solid duplex or this could be your start to an investment portfolio. See the up unit first and its spacious living room, eat in kitchen, sunporch OR make the space into an additional bedroom. 2020: Down unit Hot Water Tank - New Garage Roof / 2021: New Roof on House / 2023: Up Unit stove / 2024: Down Unit Stove & Dishwasher. Close to Freeway - Not far from Downtown Cleveland - Quiet Neighborhood

23. 2024-05-04
    listed $205,000 Active 474-char remark

    Show marketing remark (474 chars)

    Come house hack and live in the up unit or add to your portfolio this solid duplex or this could be your start to an investment portfolio. See the up unit first and its spacious living room, eat in kitchen, sunporch OR make the space into an additional bedroom. 2020: Down unit Hot Water Tank - New Garage Roof / 2021: New Roof on House / 2023: Up Unit stove / 2024: Down Unit Stove & Dishwasher. Close to Freeway - Not far from Downtown Cleveland - Quiet Neighborhood

24. 2024-03-04
    status Pending
25. 2024-03-03
    historical
26. 2024-01-29
    listed $205,000 Active
27. 2020-10-30
    soldstatus $139,900 Closed
28. 2020-09-21
    historical Contingent
29. 2020-09-18
    listed $139,900 Active
30. 2020-09-17
    historical $139,900
31. 2014-11-26
    soldstatus $75,000
32. 2014-11-24
    soldstatus $75,000
33. 2014-11-21
    historical
34. 2014-08-30
    listed $79,900
35. 2014-08-11
    historical
36. 2014-02-11
    listed $113,900
37. 2004-03-29
    soldstatus $112,500
38. 1997-06-27
    soldstatus $60,000
39. 1995-08-28
    historical
40. 1995-06-26
    listed $96,900
41. 1993-10-06
    soldstatus $26,000
42. 1993-07-30
    soldstatus $55,500
43. 1993-07-22
    soldstatus $55,500
44. 1993-03-05
    listed $63,500

ⓘ 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: $3,883 · $324/mo
• Projected year-2 tax: $3,883 · $324/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,632
• − Mortgage interest: −$12,599
• − Property taxes: −$3,883
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,011
• − Management: −$3,011
• − Depreciation: −$6,543
• Taxable income: $7,461
• Est. tax owed @ 24.0%: −$1,791
• After-tax cash flow: $8,777/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

+254.2% since first listed

28 events — show timeline

• 2026-05-28 Listed $224,921 MLSNOW
• 2026-05-28 Listing Removed — MLSNOW
• 2026-05-28 Listed $224,921 MLSNOW
• 2024-05-28 Sold (Public Records) $195,000 Public Records
• 2024-05-24 Sold (MLS) $195,000 MLSNOW
• 2024-05-11 Pending — MLSNOW
• 2024-05-04 Listed $205,000 MLSNOW
• 2024-03-04 Pending — MLSNOW
• 2024-03-03 Listing Removed — MLSNOW
• 2024-01-29 Listed $205,000 MLSNOW
• 2020-10-30 Sold (MLS) $139,900 MLSNOW
• 2020-09-21 Contingent — MLSNOW
• 2020-09-18 Listed $139,900 MLSNOW
• 2020-09-17 Coming Soon $139,900 MLSNOW
• 2014-11-26 Sold (Public Records) $75,000 Public Records
• 2014-11-24 Sold (MLS) $75,000 MLSNOW
• 2014-11-21 Listing Removed — MLSNOW
• 2014-08-30 Listed $79,900 MLSNOW
• 2014-08-11 Listing Removed — MLSNOW
• 2014-02-11 Listed $113,900 MLSNOW
• 2004-03-29 Sold (Public Records) $112,500 Public Records
• 1997-06-27 Sold (Public Records) $60,000 Public Records
• 1995-08-28 Listing Removed — MLSNOW
• 1995-06-26 Listed $96,900 MLSNOW
• 1993-10-06 Sold (Public Records) $26,000 Public Records
• 1993-07-30 Sold (MLS) $55,500 MLSNOW
• 1993-07-22 Sold (Public Records) $55,500 Public Records
• 1993-03-05 Listed $63,500 MLSNOW

Property tax history

+5.7%/yr

Latest (2025): $3,883 · -4.3% YoY. Source: county tax records.