10 Michael Dr Unit MIC10 · Olmsted Falls, OH 44138

$133,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 278 Days on market

Built 2025 Poor condition ↓ 3% 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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +6.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Entertain in Style ~ State-of-the-Art Kitchen!

Key facts

• Built 2025
• Listed 278 days

Tags

• STATE-OF-THE-ART KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $134k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 $926 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.

Negotiation context

• It's been on market 278 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts 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.

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 $117,832 (12.0% below list)

Questions for the listing agent

1. It's been on market 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.20% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.86%
• DSCR: 1.48
• GRM: 7.0

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,258
• Equity at exit: $19,965

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $18,929
• Equity at exit: $11,577

Cash invested: $37,492 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,601 medium
• Mortgage (P&I): −$702
• Tax est. 1.5%: −$167 /mo · $2,008/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $273

Break-even live

Break-even rent $1,255

Max offer price $133,900

Occupancy floor 78%

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: $33,475
• Closing costs: $4,017
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5785 Fitch Rd North Olmsted, OH	2.0	1.0	1080	$1,650	$1.53	43d	1	1.03mi
27080 Oakwood Dr Olmsted Falls, OH	1.0–2.0	1.0–2.0	975	$1,780	$1.83	1d	39	1.26mi
26875 Bagley Rd Olmsted Twp, OH	1.0–3.0	1.0–2.0	890	$1,299	$1.46	2d	1	1.42mi

Listing history 46 events

1. 2026-06-18
   days on market $133,900 Active 278 DOM
2. 2026-06-17
   days on market $133,900 Active 277 DOM
3. 2026-06-16
   days on market $133,900 Active 276 DOM
4. 2026-06-15
   days on market $133,900 Active 275 DOM
5. 2026-06-13
   days on market $133,900 Active 273 DOM
6. 2026-06-13
   days on market $133,900 Active 272 DOM
7. 2026-06-09
   days on market $133,900 Active 269 DOM
8. 2026-06-08
   days on market $133,900 Active 268 DOM
9. 2026-06-07
   remarks 56-char remark
10. 2026-06-07
    days on market $133,900 Active 267 DOM
11. 2026-06-03
    days on market $133,900 Active 263 DOM
12. 2026-06-02
    days on market $133,900 Active 262 DOM
13. 2026-06-01
    days on market $133,900 Active 261 DOM
14. 2026-05-31
    days on market $133,900 Active 260 DOM
15. 2026-05-06
    status Active 46-char remark

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16. 2026-05-05
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17. 2026-04-28
    price $133,900 46-char remark

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18. 2026-04-27
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19. 2026-04-27
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20. 2026-04-20
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21. 2026-04-20
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22. 2026-04-13
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23. 2026-04-13
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24. 2026-04-03
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25. 2026-04-03
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26. 2026-04-02
    price $135,900 46-char remark

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27. 2026-03-02
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28. 2026-03-02
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29. 2026-02-27
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30. 2026-02-27
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31. 2026-02-26
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32. 2026-02-26
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33. 2026-02-08
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34. 2026-02-08
    price $136,500 46-char remark

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35. 2025-12-06
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36. 2025-12-03
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37. 2025-12-03
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38. 2025-10-25
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39. 2025-10-25
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40. 2025-09-21
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41. 2025-09-21
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42. 2025-08-31
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43. 2025-08-31
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44. 2025-08-15
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45. 2025-08-15
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46. 2025-07-02
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ⓘ 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: $19,209
• − Mortgage interest: −$7,500
• − Property taxes: −$2,008
• − Insurance: −$1,467
• − Repairs & maintenance: −$1,537
• − Management: −$1,537
• − Depreciation: −$3,895
• Taxable income: $1,265
• Est. tax owed @ 24.0%: −$303
• After-tax cash flow: $2,970/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 · 0 photos

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and renovations to bring it up to a livable condition. Significant structural and aesthetic improvements are needed to increase its resale and rental value.

Repairs flagged

• Major Kitchen countertops and cabinets — The countertops and cabinets are visibly worn and need replacement.
• Major Bathroom fixtures and tiles — The fixtures and tiles are stained and worn, requiring replacement.
• Major Flooring — The flooring is worn and frayed, indicating it needs replacement.
• Major Painting and wall repairs — The walls show signs of peeling paint and discoloration, indicating significant damage.
• Major Roof repair or replacement — The roof has visible damage and missing shingles, which need immediate attention.
• Major Siding repair or replacement — The siding is peeling and needs repainting or replacement.
• Major Window repair or replacement — The windows have visible cracks and need repair or replacement.
• Major Foundation inspection and repair — The foundation appears to be in need of inspection and potential repair.
• Major HVAC system replacement — The HVAC system appears old and may need replacement.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen with updated appliances and fixtures can significantly increase the home's resale value.
• Resale Bathroom renovation — Renovating the bathrooms with new fixtures and tiles can enhance the home's appeal and increase its resale value.
• Resale Flooring replacement — Replacing worn flooring with new, durable flooring can improve the home's appearance and increase its resale value.
• Resale Painting and wall repairs — Painting and repairing walls can improve the home's appearance and increase its resale value.
• Resale Roof repair or replacement — A repaired or replaced roof can significantly increase the home's resale value by addressing a major structural issue.
• Resale Siding repair or replacement — A repaired or replaced siding can improve the home's curb appeal and increase its resale value.
• Resale Window repair or replacement — A repaired or replaced window can improve the home's curb appeal and increase its resale value.
• Resale Foundation inspection and repair — A repaired foundation can improve the home's structural integrity and increase its resale value.
• Resale HVAC system replacement — A new HVAC system can improve the home's comfort and energy efficiency, increasing its resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops and cabinets · The countertops and cabinets are visibly worn and need replacement.	Major	$15,000–50,000
Bathroom fixtures and tiles · The fixtures and tiles are stained and worn, requiring replacement.	Major	$15,000–50,000
Flooring · The flooring is worn and frayed, indicating it needs replacement.	Major	$15,000–50,000
Painting and wall repairs · The walls show signs of peeling paint and discoloration, indicating significant damage.	Major	$15,000–50,000
Roof repair or replacement · The roof has visible damage and missing shingles, which need immediate attention.	Major	$15,000–50,000
Siding repair or replacement · The siding is peeling and needs repainting or replacement.	Major	$15,000–50,000
Window repair or replacement · The windows have visible cracks and need repair or replacement.	Major	$15,000–50,000
Foundation inspection and repair · The foundation appears to be in need of inspection and potential repair.	Major	$15,000–50,000
HVAC system replacement · The HVAC system appears old and may need replacement.	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen with updated appliances and fixtures can significantly increase the home's resale value. ↑
• Resale Bathroom renovation — Renovating the bathrooms with new fixtures and tiles can enhance the home's appeal and increase its resale value. ↑
• Resale Flooring replacement — Replacing worn flooring with new, durable flooring can improve the home's appearance and increase its resale value. ↑
• Resale Painting and wall repairs — Painting and repairing walls can improve the home's appearance and increase its resale value. ↑
• Resale Roof repair or replacement — A repaired or replaced roof can significantly increase the home's resale value by addressing a major structural issue. ↑
• Resale Siding repair or replacement — A repaired or replaced siding can improve the home's curb appeal and increase its resale value. ↑
• Resale Window repair or replacement — A repaired or replaced window can improve the home's curb appeal and increase its resale value. ↑
• Resale Foundation inspection and repair — A repaired foundation can improve the home's structural integrity and increase its resale value. ↑
• Resale HVAC system replacement — A new HVAC system can improve the home's comfort and energy efficiency, increasing its resale 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

-2.6% since first listed

32 events — show timeline

• 2026-05-06 Relisted — Zillow
• 2026-05-05 Delisted — Zillow
• 2026-04-28 Price Changed $133,900 Zillow
• 2026-04-27 Relisted — Zillow
• 2026-04-27 Delisted — 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
• 2026-04-02 Price Changed $135,900 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
• 2026-02-08 Relisted — Zillow
• 2026-02-08 Price Changed $136,500 Zillow
• 2025-12-06 Delisted — Zillow
• 2025-12-03 Relisted — Zillow
• 2025-12-03 Delisted — Zillow
• 2025-10-25 Relisted — Zillow
• 2025-10-25 Delisted — Zillow
• 2025-09-21 Relisted — Zillow
• 2025-09-21 Delisted — Zillow
• 2025-08-31 Relisted — Zillow
• 2025-08-31 Delisted — Zillow
• 2025-08-15 Relisted — Zillow
• 2025-08-15 Delisted — Zillow
• 2025-07-02 Listed $137,500 Zillow