16177 Center St · Parkman, OH 44062

$80,000

7 bd · 3.0 ba · 2,656 sqft · MultiFamily public records · 75 Days on market

Built 1860 1.00 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Large house in heart of Parkman across from the Church. Seven (7) bedrooms, 4 baths - was once a duplex, no single family. Being sold as-is. Bring your ideas and find a wonderful new home or investment property.

Key facts

• 1 acre lot
• Parking
• Built 1860

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#823 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: amenities F, commute F, health & safety F.
• Cardinal Local (town): math 47% / reading 59% proficiency, ranked #396 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; solid renter incomes; 220 units permitted in Geauga County in 2024 (0 in 5+ unit buildings).
• At $3,593/mo this rent would consume 57% of the median local household income ($76k/yr) (locally 20% 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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Geauga County population projected to shrink 7% 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 $22k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 14y 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 $68k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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 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: 4.49% ✓
• Cap rate: 38.53%
• Cash-on-cash: 115.14%
• DSCR: 6.12
• GRM: 1.9

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: —
• Equity multiple: 6.54×
• Total profit: $124,058
• Equity at exit: $11,928

10-year hold

• IRR: —
• Equity multiple: 13.72×
• Total profit: $284,847
• Equity at exit: $6,917

Cash invested: $22,400 (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 44062

• Home prices YoY: -22.5%
• Active inventory: 20
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $3,593 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$236 /mo · $2,837/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $2,149

Break-even live

Break-even rent $873

Max offer price $80,000

Occupancy floor 35%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,594
Total (2 units)			$3,593

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-05-12
   status Pending 211-char remark

   Show marketing remark (211 chars)

   Large house in heart of Parkman across from the Church. Seven (7) bedrooms, 4 baths - was once a duplex, no single family. Being sold as-is. Bring your ideas and find a wonderful new home or investment property.

2. 2026-02-25
   listed $80,000 Active 211-char remark

   Show marketing remark (211 chars)

   Large house in heart of Parkman across from the Church. Seven (7) bedrooms, 4 baths - was once a duplex, no single family. Being sold as-is. Bring your ideas and find a wonderful new home or investment property.

3. 2025-01-03
   historical
4. 2024-09-09
   historical Contingent
5. 2024-07-24
   price $100,000
6. 2024-07-12
   price $117,000
7. 2024-06-26
   listed $130,000 Active
8. 2022-05-24
   historical
9. 2022-04-21
   listed $130,000 Active
10. 2022-02-14
    historical
11. 2022-01-29
    price $130,000
12. 2022-01-24
    price $135,000
13. 2021-12-23
    status Active
14. 2021-11-01
    status Pending
15. 2021-10-12
    listed $140,000 Active
16. 2021-09-17
    historical
17. 2021-09-17
    price $140,000
18. 2021-09-13
    price $155,000
19. 2021-09-03
    price $165,000
20. 2021-08-31
    price $175,000
21. 2021-08-27
    price $185,000
22. 2021-08-21
    price $200,000
23. 2021-08-15
    listed $225,000 Active
24. 2016-03-25
    listed $83,900 Active
25. 2016-02-29
    soldstatus $68,000 Sold
26. 2016-02-29
    soldstatus $68,000
27. 2015-10-02
    status Pending
28. 2015-08-19
    price $76,900
29. 2015-06-22
    price $78,900
30. 2015-05-26
    listed $83,900 Active
31. 2013-10-16
    soldstatus $25,500
32. 2012-04-10
    listed $34,900

ⓘ 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: $2,837 · $236/mo
• Projected year-2 tax: $2,837 · $236/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 2/10 Low 7 d/yr ≥96°F today · 16 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: $43,116
• − Mortgage interest: −$4,481
• − Property taxes: −$2,837
• − Insurance: −$400
• − Repairs & maintenance: −$3,449
• − Management: −$3,449
• − Depreciation: −$2,327
• Taxable income: $26,172
• Est. tax owed @ 24.0%: −$6,281
• After-tax cash flow: $19,509/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: Cardinal Local
• NCES district ID: 3904717
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $50,513
• Composite: 45.28/100
• National rank: #2655
• State rank: #396 of 656 in OH

Livability — Parkman

• Score: 63/100
• State rank: #823
• US rank: #15342

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment B- Housing C+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parkman, OH
• County: Geauga · 90,510 people
• City population: 73
• Metro: Cleveland, OH
• Population (ZIP): 16,335
• Household income: $75,681
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 20.3

Population outlook (Geauga County) Hauer SSP2

• Today (2025): 94,919 people
• By 2030: 94,804 · -0.1%
• By 2040: 92,641 · -2.4%
• By 2050: 88,198 · -7.1%
• By 2075: 79,080 · -16.7%
• By 2100: 60,856 · -35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Polish 31% Romanian 3% Iranian 2%
• Foreign-born: 1%
• Languages at home: 42% English-only · German/W. Germanic 57%

Political lean MEDSL · Geauga

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.7%
• 2008→2024 swing: -8.8pp toward R · 2008: -15.4pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+23.1 2016: R+25.5 2012: R+21.6 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.22%
• Current HPI: 238.9317
• 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

+129.2% since first listed

32 events — show timeline

• 2026-05-12 Pending — MLSNOW
• 2026-02-25 Listed $80,000 MLSNOW
• 2025-01-03 Listing Removed — MLSNOW
• 2024-09-09 Contingent — MLSNOW
• 2024-07-24 Price Changed $100,000 MLSNOW
• 2024-07-12 Price Changed $117,000 MLSNOW
• 2024-06-26 Listed $130,000 MLSNOW
• 2022-05-24 Listing Removed — MLSNOW
• 2022-04-21 Listed $130,000 MLSNOW
• 2022-02-14 Listing Removed — MLSNOW
• 2022-01-29 Price Changed $130,000 MLSNOW
• 2022-01-24 Price Changed $135,000 MLSNOW
• 2021-12-23 Relisted — MLSNOW
• 2021-11-01 Pending — MLSNOW
• 2021-10-12 Listed $140,000 MLSNOW
• 2021-09-17 Listing Removed — MLSNOW
• 2021-09-17 Price Changed $140,000 MLSNOW
• 2021-09-13 Price Changed $155,000 MLSNOW
• 2021-09-03 Price Changed $165,000 MLSNOW
• 2021-08-31 Price Changed $175,000 MLSNOW
• 2021-08-27 Price Changed $185,000 MLSNOW
• 2021-08-21 Price Changed $200,000 MLSNOW
• 2021-08-15 Listed $225,000 MLSNOW
• 2016-03-25 Listed $83,900 MLSNOW
• 2016-02-29 Sold (Public Records) $68,000 Public Records
• 2016-02-29 Sold (MLS) $68,000 MLSNOW
• 2015-10-02 Pending — MLSNOW
• 2015-08-19 Price Changed $76,900 MLSNOW
• 2015-06-22 Price Changed $78,900 MLSNOW
• 2015-05-26 Listed $83,900 MLSNOW
• 2013-10-16 Sold (MLS) $25,500 MLSNOW
• 2012-04-10 Listed $34,900 MLSNOW

Property tax history

+24.4%/yr

Latest (2025): $2,837 · +9.3% YoY. Source: county tax records.