3801 Russell Ave · Parma, OH 44134

$164,900

3 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 1 Days on market

Built 1918 5,601 sqft lot Est $200k · 18% 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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Parma Colonial Home Conveniently Located off State Road , features 2 bedroom (tandum with 3rd room), 1 bathroom, 2.5 Car Garage with a large driveway and back yard fully fenced. Home offers Newer electrical panel, newer furnace and water heater , also Central Air, vinyl windows and siding. Very Close to highways, shopping , bus station.

Key facts

• New flooring
• Convenient location
• Spacious driveway

Tags

• CONVENIENT LOCATION
• NEW FLOORING
• FULLY FENCED BACKYARD
• SPACIOUS DRIVEWAY

Property features AI

Exterior

• Parking: Detached garage with 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2-story house; Above-grade finished living area listed as 1,044
• Construction: Aluminum and vinyl siding; Asphalt/fiberglass roof
• Exterior features: Lot recorded at approximately 0.1286 acres

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 7.5% 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 15d 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 $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $115k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,900

Questions for the listing agent

1. Built in 1918 — 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: 1.01% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.24%
• DSCR: 1.19
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $200,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3810 Russell Ave	0.03mi	3/2.0	1,088 (+4%)	0mo	$189,900	$175	87
3111 Tuxedo Ave	0.30mi	3/2.0	1,050 (+1%)	1mo	$230,000	$219	80
4606 Lincoln Ave	0.31mi	3/2.0	1,070 (+2%)	1mo	$184,700	$173	76
2819 Tuxedo Ave	0.45mi	3/1.5	1,104 (+6%)	1mo	$197,000	$178	67
4413 Torrington Ave	0.37mi	3/2.0	968 (-7%)	1mo	$210,000	$217	66
2436 Tuxedo Ave	0.62mi	3/1.5	1,064 (+2%)	1mo	$220,000	$207	65
5271 W 49th St	0.43mi	3/1.0	1,147 (+10%)	1mo	$210,000	$183	63
2619 Fortune Ave	0.57mi	3/1.5	978 (-6%)	0mo	$200,000	$204	61
2819 Lincoln Ave	0.45mi	3/2.0	910 (-13%)	1mo	$240,000	$264	53
5107 Krueger Ave	0.74mi	2/2.0 (-1)	1,092 (+5%)	2mo	$173,000	$158	48
4011 Liggett Dr	0.63mi	2/1.0 (-1)	912 (-13%)	0mo	$145,000	$159	44
2506 Torrington Ave	0.64mi	4/2.0 (+1)	1,200 (+15%)	0mo	$230,000	$192	36

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: -4.1%
• Equity multiple: 0.84×
• Total profit: $-7,456
• Equity at exit: $24,587

10-year hold

• IRR: 10.7%
• Equity multiple: 2.02×
• Total profit: $47,247
• Equity at exit: $14,258

Cash invested: $46,172 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,672 high
• Mortgage (P&I): −$865
• Tax from tax record: −$224 /mo · $2,687/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $163

Break-even live

Break-even rent $1,465

Max offer price $164,900

Occupancy floor 85%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5252 W 45th St Unit 1496134P Parma, OH	3.0	2.0	1065	$5,388	$5.06	14d	1	0.28mi
5220 W 44th St #2 Parma, OH	2.0	1.0	1156	$1,400	$1.21	23d	1	0.29mi
4606 Lincoln Ave Cleveland, OH	3.0	2.0	1418	$1,995	$1.41	1d	1	0.30mi
3330 Fortune Ave Cleveland, OH	3.0	1.5	1258	$1,775	$1.41	43d	1	0.32mi
3027 Fortune Ave Unit 1 Parma, OH	2.0	1.0	880	$1,175	$1.34	43d	1	0.43mi
3027 Fortune Ave Unit 2 Parma, OH	2.0	1.0	726	$1,150	$1.58	43d	1	0.43mi
2910 Fortune Ave Cleveland, OH	2.0	1.0	744	$1,775	$2.39	23d	1	0.48mi
2716 Lincoln Ave Unit 1288912P Parma, OH	4.0	2.0	1205	$4,125	$3.42	7d	1	0.51mi
2611 Brookdale Ave Cleveland, OH	3.0	1.0	1092	$1,825	$1.67	43d	1	0.59mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	946	$1,300	$1.37	4d	1	0.61mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	958	$1,300	$1.36	7d	1	0.61mi
6007 Merkle Ave Unit Down Parma, OH	3.0	1.0	1250	$1,399	$1.12	1d	1	0.79mi
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	43d	1	0.82mi
6505 Snow Rd Unit REAR Parma, OH	3.0	1.5	1312	$1,599	$1.22	7d	1	1.15mi
6227 Traymore Ave Cleveland, OH	3.0	2.0	1221	$1,575	$1.29	1d	1	1.38mi

Listing history 2 events

1. 2026-06-19
   remarks 666-char remark
2. 2026-06-19
   listed $164,900 Active 1 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: $2,687 · $224/mo
• Projected year-2 tax: $2,687 · $224/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: $20,060
• − Mortgage interest: −$9,237
• − Property taxes: −$2,687
• − Insurance: −$824
• − Repairs & maintenance: −$1,605
• − Management: −$1,605
• − Depreciation: −$4,797
• Taxable loss: −$696
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $2,125/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

+106.4% since first listed

9 events — show timeline

• 2026-06-18 Listed $164,900 MLSNOW
• 2021-04-20 Sold (MLS) $114,900 MLSNOW
• 2021-03-04 Pending — MLSNOW
• 2021-03-01 Listed $114,900 MLSNOW
• 2019-02-13 Sold (Public Records) $70,000 Public Records
• 2019-02-13 Sold (MLS) $70,000 MLSNOW
• 2019-01-23 Pending — MLSNOW
• 2019-01-23 Contingent — MLSNOW
• 2018-12-05 Listed $79,900 MLSNOW

Property tax history

+8.8%/yr

Latest (2025): $2,687 · -4.9% YoY. Source: county tax records.