3908 Kenmore Ave · Parma, OH 44134

$169,500

3 bd · 1.0 ba · 1,242 sqft · SingleFamily public records · 3 Days on market

Built 1970 3,537 sqft lot Est $221k · 23% under

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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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Rent growth +5.0/5.0
• 1% rule +4.9/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Solid Brick Colonial * Eat in Kitchen * Living Room and Dining Room * 1/2 Bath off Kitchen * 3 Bedrooms and a Full Bathroom on the second floor * Basement has a Recreation Room and a laundry area * Patio off the Back of the home * 2 Car detached garage * New water lines inside the home * New shower head and shower faucet in the Full Bathroom * New Furnace * New HWT * New thermostat * Appliances that are in the home now will stay * This home needs quite a bit of work * Subject to probate approval.

Key facts

• Recreation room
• Eat in kitchen
• 1/2 bath off kitchen

Tags

• EAT IN KITCHEN
• LIVING ROOM AND DINING ROOM
• 1/2 BATH OFF KITCHEN
• RECREATION ROOM
• PATIO OFF THE BACK
• NEW WATER LINES

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2-story brick home; Property listed as fixer
• Construction: Brick construction; Asphalt/fiberglass roof; Built per public records
• Exterior features: Patio

Interior

• Bedrooms: Bedrooms included in the 6 total rooms
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Partial finished basement; 6 total rooms
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (0.6% below list).
• Recommended offer: $168k (0.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $170k implies a 226% gain — meaningful room to come down on a strong offer.

Recommended offer $168,408 (0.6% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $221,076
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3908 Kenmore Ave	0.00mi	3/1.5	1,242 (0%)	0mo	$151,000	$122	98
4312 Kenmore Ave	0.11mi	2/1.0 (-1)	1,255 (+1%)	1mo	$130,000	$104	88
3423 Russell Ave	0.49mi	3/2.0	1,232 (-1%)	0mo	$205,000	$166	72
5857 W 54th St	0.61mi	3/2.0	1,276 (+3%)	1mo	$190,000	$149	62
5503 Westlake Ave	0.60mi	4/2.0 (+1)	1,219 (-2%)	0mo	$252,000	$207	59
5706 Virginia Ave	0.67mi	3/2.0	1,172 (-6%)	0mo	$265,000	$226	55
2506 Torrington Ave	0.65mi	4/2.0 (+1)	1,200 (-3%)	0mo	$230,000	$192	54
5271 W 49th St	0.70mi	3/1.0	1,147 (-8%)	1mo	$210,000	$183	54
4911 Tuxedo Ave	0.64mi	3/2.0	1,336 (+8%)	0mo	$220,000	$165	53
3810 Russell Ave	0.48mi	3/2.0	1,088 (-12%)	0mo	$189,900	$175	53
2929 Commonwealth Dr	0.64mi	3/2.0	1,092 (-12%)	1mo	$225,000	$206	45
2819 Tuxedo Ave	0.72mi	3/1.5	1,104 (-11%)	1mo	$197,000	$178	45

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: -5.9%
• Equity multiple: 0.77×
• Total profit: $-10,890
• Equity at exit: $25,273

10-year hold

• IRR: 9.1%
• Equity multiple: 1.86×
• Total profit: $41,047
• Equity at exit: $14,655

Cash invested: $47,460 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,684 high
• Mortgage (P&I): −$889
• Tax from tax record: −$251 /mo · $3,014/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $120

Break-even live

Break-even rent $1,533

Max offer price $169,500

Occupancy floor 88%

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: $42,375
• Closing costs: $5,085
• Reserves months: —
• Total cash needed: —

Rent comps 15 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	0.33mi
3027 Fortune Ave Unit 1 Parma, OH	2.0	1.0	880	$1,175	$1.34	44d	1	0.41mi
3027 Fortune Ave Unit 2 Parma, OH	2.0	1.0	726	$1,150	$1.58	44d	1	0.41mi
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	44d	1	0.48mi
2910 Fortune Ave Cleveland, OH	2.0	1.0	744	$1,775	$2.39	24d	1	0.49mi
4606 Lincoln Ave Cleveland, OH	3.0	2.0	1418	$1,995	$1.41	2d	1	0.50mi
2611 Brookdale Ave Cleveland, OH	3.0	1.0	1092	$1,825	$1.67	44d	1	0.63mi
2716 Lincoln Ave Unit 1288912P Parma, OH	4.0	2.0	1205	$4,125	$3.42	8d	1	0.67mi
5252 W 45th St Unit 1496134P Parma, OH	3.0	2.0	1065	$5,388	$5.06	15d	1	0.69mi
5220 W 44th St #2 Parma, OH	2.0	1.0	1156	$1,400	$1.21	24d	1	0.73mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	946	$1,300	$1.37	4d	1	0.90mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	958	$1,300	$1.36	8d	1	0.90mi
6505 Snow Rd Unit REAR Parma, OH	3.0	1.5	1312	$1,599	$1.22	8d	1	0.93mi
6007 Merkle Ave Unit Down Parma, OH	3.0	1.0	1250	$1,399	$1.12	2d	1	1.02mi
6099 Ridge Rd Cleveland, OH	2.0	1.0	1020	$1,200	$1.18	21d	1	1.38mi

Listing history 3 events

1. 2026-06-02
   status $169,500 Pending 3 DOM
2. 2026-06-01
   days on market $169,500 Active 3 DOM
3. 2026-05-31
   days on market $169,500 Active 2 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: $3,014 · $251/mo
• Projected year-2 tax: $3,014 · $251/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: $20,209
• − Mortgage interest: −$9,495
• − Property taxes: −$3,014
• − Insurance: −$848
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − Depreciation: −$4,931
• Taxable loss: −$1,312
• Est. tax savings @ 24.0%: +$315
• After-tax cash flow: $1,752/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

+226.0% since first listed

2 events — show timeline

• 2026-05-29 Listed $169,500 MLSNOW
• 1977-12-01 Sold (Public Records) $52,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $3,014 · -5.8% YoY. Source: county tax records.