Cortland Plan · Olmsted Falls, OH 44138

$149,900

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 17 Days on market

Poor condition

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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 +12.9/30.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Key facts

• Listed 17 days

Property features AI

Finance

• Financial info: List price $149,900

Exterior

• Home design: Plan: Cortland; New construction plan
• Construction: Built 2026 (plan year)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Living area approximately 1,456

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-10 ($-117/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (13.3% below list).
• Recommended offer: $130k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: crime A+, employment A+, cost of living 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.
• Zoned schools: Falls-Lenox Primary Elementary School (math 71% / reading 73%, grade A-, #323 of 1,584 statewide, top 23%, 738 students, 15% FRL); Olmsted Falls Middle School (math 66% / reading 64%, grade A-, #194 of 654 statewide, top 31%, 811 students, 14% FRL); Olmsted Falls High School (math 60% / reading 73%, grade B, #150 of 781 statewide, top 20%, 1,250 students, 12% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 184 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent is only 17% of the median local income ($94k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Recommended offer $129,900 (13.3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.87% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• GRM: 9.6

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-24,889
• Equity at exit: $22,351

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-22,390
• Equity at exit: $12,961

Cash invested: $41,972 (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: 184
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,299 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-10

Break-even live

Break-even rent $1,311

Max offer price $148,494

Occupancy floor 96%

Sensitivity live

Price	-10% $94	-5% $42	+0% $-10	+5% $-62	+10% $-113
Rent	-10% $-112	-5% $-61	+0% $-10	+5% $42	+10% $93
Rate	-1.0pp $66	-0.5pp $28	base $-10	+0.5pp $-49	+1.0pp $-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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26875 Bagley Rd Olmsted Twp, OH	1.0–3.0	1.0–2.0	890	$1,299	$1.46	4d	1	1.37mi

Listing history 10 events

1. 2026-06-21
   days on market $149,900 Active 17 DOM
2. 2026-06-18
   days on market $149,900 Active 14 DOM
3. 2026-06-17
   days on market $149,900 Active 13 DOM
4. 2026-06-16
   days on market $149,900 Active 12 DOM
5. 2026-06-15
   days on market $149,900 Active 11 DOM
6. 2026-06-13
   days on market $149,900 Active 9 DOM
7. 2026-06-13
   days on market $149,900 Active 8 DOM
8. 2026-06-09
   days on market $149,900 Active 5 DOM
9. 2026-06-08
   days on market $149,900 Active 4 DOM
10. 2026-06-07
    listed $149,900 Active 3 DOM

ⓘ 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: $15,588
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − Depreciation: −$4,361
• Taxable loss: −$2,662
• Est. tax savings @ 24.0%: +$639
• After-tax cash flow: $522/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 · 3 photos

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and maintenance, including a new roof, exterior siding replacement, and interior painting. Landscaping and kitchen/bathroom updates would also significantly increase its value.

Repairs flagged

• Major roof — The roof appears to be old and possibly leaking.
• Major exterior siding — The siding appears to be peeling and in need of repainting or replacement.
• Major interior walls and paint — The condition of the exterior suggests the interior may also be in poor condition.
• Major landscaping — The landscaping appears to be overgrown and in need of trimming and maintenance.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and increase its resale value.
• Resale exterior siding replacement — Replacing the peeling siding will improve the home's curb appeal and increase its resale value.
• Resale interior painting — Painting the interior will improve the home's appearance and increase its resale value.
• Both landscaping — Trimming and maintaining the landscaping will improve the home's curb appeal and increase its resale and rental value.
• Both kitchen and bathroom updates — Updating the kitchen and bathrooms will improve the home's functionality and increase its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be old and possibly leaking.	Major	$15,000–50,000
exterior siding · The siding appears to be peeling and in need of repainting or replacement.	Major	$15,000–50,000
interior walls and paint · The condition of the exterior suggests the interior may also be in poor condition.	Major	$15,000–50,000
landscaping · The landscaping appears to be overgrown and in need of trimming and maintenance.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale roof replacement — A new roof will significantly improve the home's appearance and increase its resale value. ↑
• Resale exterior siding replacement — Replacing the peeling siding will improve the home's curb appeal and increase its resale value. ↑
• Resale interior painting — Painting the interior will improve the home's appearance and increase its resale value. ↑
• Both landscaping — Trimming and maintaining the landscaping will improve the home's curb appeal and increase its resale and rental value. ↑
• Both kitchen and bathroom updates — Updating the kitchen and bathrooms will improve the home's functionality and increase its resale and rental 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