5556 Hilltop Oval · Parma, OH 44134

$154,900

2 bd · 1.5 ba · 1,189 sqft · Condo · 23 Days on market

Built 1975 Good condition $334/mo HOA · 20% of rent

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Why this score? — see what drove the D 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 +10.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• DSCR +3.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained two-bedroom, 1.5-bath condo offering a partially finished basement in a convenient location just minutes from shopping, dining, and I-480. Recent updates include a remodeled full bathroom (2023) featuring a double vanity sink, new toilet, LVT flooring, and neutral paint tones. Main level flooring was also updated in 2023. New garage door (2025) adds both function and curb appeal. Ideally situated within the community, offering immediate access to the HOA clubhouse and pool, with tennis courts located directly across the street.

Key facts

• Double vanity sink
• New garage door
• $334 HOA

Tags

• PARTIALLY FINISHED BASEMENT
• REMODELED FULL BATHROOM
• DOUBLE VANITY SINK
• NEW GARAGE DOOR

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association: Sandpiper Condominium Association; Monthly association fee of $334.82; Association fee includes insurance, ground and structure maintenance, roof, snow removal, and water

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: 2-story property; Entry level is 1; Property is attached (condominium)
• Construction: Aluminum siding; Shingle roof; Built (year source: public records)
• Exterior features: Community pool; Association pool access; Tennis courts; Clubhouse

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Total of 5 rooms (bedrooms and living spaces combined)
• Bathrooms: 1 full bathroom; 1 half bathroom; Main level has 1 bathroom
• Interior features: Window treatments; Partially finished basement
• Laundry & utility: Washer; Dryer; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $155k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-80 ($-958/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (7.5% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $143k (7.5% below list) — sets the bar for cash-flow.

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.
• Zoned schools: John Muir Elementary School (math 37% / reading 32%, grade F, #1,113 of 1,584 statewide, top 71%, 352 students, 63% FRL); Hillside Middle School (math 63% / reading 67%, grade A-, #194 of 654 statewide, top 31%, 539 students, 44% FRL); Normandy High School (math 49% / reading 67%, grade C, #270 of 781 statewide, top 35%, 1,304 students, 39% FRL).
• Market conditions: Rents rising fast (+10.6%/yr); 120 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $143,347 (7.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -12.7%
• Equity multiple: 0.51×
• Total profit: $-21,094
• Equity at exit: $23,096

10-year hold

• IRR: 4.0%
• Equity multiple: 1.38×
• Total profit: $16,352
• Equity at exit: $13,393

Cash invested: $43,372 (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: 120
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,677 high
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$334
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-80

Break-even live

Break-even rent $1,778

Max offer price $143,347

Occupancy floor 100%

Sensitivity live

Price	-10% $27	-5% $-26	+0% $-80	+5% $-133	+10% $-187
Rent	-10% $-212	-5% $-146	+0% $-80	+5% $-14	+10% $53
Rate	-1.0pp $-2	-0.5pp $-40	base $-80	+0.5pp $-120	+1.0pp $-161

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2611 Brookdale Ave Cleveland, OH	3.0	1.0	1092	$1,825	$1.67	45d	1	0.64mi
2910 Fortune Ave Cleveland, OH	2.0	1.0	744	$1,775	$2.39	25d	1	0.77mi
3027 Fortune Ave Unit 2 Parma, OH	2.0	1.0	726	$1,150	$1.58	45d	1	0.85mi
3027 Fortune Ave Unit 1 Parma, OH	2.0	1.0	880	$1,175	$1.34	45d	1	0.85mi
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	45d	1	0.88mi
3330 Fortune Ave Cleveland, OH	3.0	1.5	1258	$1,775	$1.41	45d	1	0.98mi
6188 Cabrini Ln Seven Hills, OH	3.0	2.0	1271	$2,095	$1.65	3d	1	1.14mi
5220 W 44th St #2 Parma, OH	2.0	1.0	1156	$1,400	$1.21	25d	1	1.46mi
5252 W 45th St Unit 1496134P Parma, OH	3.0	2.0	1065	$5,388	$5.06	16d	1	1.49mi
4606 Lincoln Ave Cleveland, OH	3.0	2.0	1418	$1,995	$1.41	3d	1	1.50mi

HOA detail condo

• Monthly dues: $334 · $4,008/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-05
   statusdays on market $154,900 Pending 23 DOM
2. 2026-06-03
   days on market $154,900 Contingent 22 DOM
3. 2026-06-02
   days on market $154,900 Contingent 21 DOM
4. 2026-06-01
   days on market $154,900 Contingent 20 DOM
5. 2026-05-31
   days on market $154,900 Contingent 19 DOM
6. 2026-05-19
   status Active
7. 2026-05-14
   historical Contingent
8. 2026-05-12
   listed $154,900 Active

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

Taxation est. · year 1

• Rental income: $20,121
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$4,008
• − Depreciation: −$4,506
• Taxable loss: −$3,387
• Est. tax savings @ 24.0%: +$813
• After-tax cash flow: $-145/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 · 18 photos

Good 75/100 Cosmetic rehab

This well-maintained two-bedroom townhouse is in good condition with recent updates, including a remodeled bathroom and new flooring. It offers a partially finished basement and is conveniently located within a community with access to amenities like a clubhouse and pool.

Value-add opportunities

• Resale paint exterior siding — enhances curb appeal
• Both update flooring in kitchen and bathrooms — improves aesthetics and functionality
• Both install new windows — increases natural light and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior siding — enhances curb appeal ↑
• Both update flooring in kitchen and bathrooms — improves aesthetics and functionality ↑
• Both install new windows — increases natural light and energy efficiency ↑

ⓘ 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: 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

3 events — show timeline

• 2026-05-19 Relisted — MLSNOW
• 2026-05-14 Contingent — MLSNOW
• 2026-05-12 Listed $154,900 MLSNOW