4202 Albertly Ave · Parma, OH 44134

$269,900

5 bd · 1.0 ba · 1,423 sqft · SingleFamily public records · 4 Days on market

Built 1929 4,800 sqft lot Est $226k · 19% over

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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 +17.6/30.0
• DSCR +5.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.4/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention all investors and the handy homeowner looking to build equity. This 3 bedroom, 2 bathroom home with over 1400 square feet of living area features tons of character just waiting to be brought back to her former glory. Located on a quiet street and yet close to highway access, bars, restaurants, shopping and parks, this home is a must see. The finished basement features a wet bar for entertaining. The front porch is a great spot for your morning coffee or to mingle with the friendly neighbors. This is truly a diamond int he rough with so many possibilities.

Key facts

• Quartz countertops
• Stainless appliances
• Huge island

Tags

• UPDATED KITCHEN
• WHITE SHAKER CABINETS
• QUARTZ COUNTERTOPS
• STAINLESS APPLIANCES
• HUGE ISLAND
• NEW LIGHT FIXTURES

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/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 $253k (6.2% below list).
• Recommended offer: $253k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 44% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 $76k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $156k; list at $270k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $253,166 (6.2% below list)

Questions for the listing agent

1. Built in 1929 — 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. 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?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $226,257
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4315 Redfern Rd	0.15mi	4/2.0 (-1)	1,347 (-5%)	16mo	$213,000	$158	62
5706 Brownfield Dr	0.66mi	4/1.5 (-1)	1,418 (-0%)	1mo	$200,000	$141	61
4207 Dawnshire Dr	0.08mi	4/2.0 (-1)	1,254 (-12%)	11mo	$200,000	$159	58
5000 Torrington Ave	0.73mi	4/1.0 (-1)	1,431 (+1%)	7mo	$150,000	$105	54
3910 Wood Ave	0.51mi	4/1.5 (-1)	1,279 (-10%)	5mo	$155,000	$121	48
3218 Somia Dr	0.64mi	4/2.0 (-1)	1,312 (-8%)	8mo	$255,000	$194	42
3318 Hearthstone Rd	0.53mi	5/2.5	1,580 (+11%)	14mo	$259,000	$164	39
5906 Morningside Dr	0.66mi	4/2.0 (-1)	1,326 (-7%)	14mo	$208,000	$157	37
4507 Pershing Ave	0.56mi	4/2.0 (-1)	1,227 (-14%)	11mo	$250,000	$204	33
5810 Renwood Dr	0.72mi	4/1.0 (-1)	1,236 (-13%)	14mo	$180,000	$146	28
6206 Hampstead Ave	0.75mi	4/2.0 (-1)	1,269 (-11%)	14mo	$218,000	$172	26
5707 Forest Ave	0.75mi	4/1.5 (-1)	1,219 (-14%)	13mo	$229,300	$188	23

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: -5.8%
• Equity multiple: 0.78×
• Total profit: $-16,963
• Equity at exit: $40,243

10-year hold

• IRR: 9.0%
• Equity multiple: 1.84×
• Total profit: $63,346
• Equity at exit: $23,336

Cash invested: $75,572 (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: 8.9×

Monthly cashflow live

• Estimated rent: $2,532 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$262 /mo · $3,141/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $210

Break-even live

Break-even rent $2,265

Max offer price $269,900

Occupancy floor 87%

Sensitivity live

Price	-10% $363	-5% $287	+0% $210	+5% $134	+10% $58
Rent	-10% $10	-5% $110	+0% $210	+5% $310	+10% $410
Rate	-1.0pp $346	-0.5pp $279	base $210	+0.5pp $140	+1.0pp $69

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4191 W Ridgewood Dr Unit 4193 Parma, OH	4.0	3.0	1800	$1,950	$1.08	44d	1	1.04mi
2716 Lincoln Ave Unit 1288912P Parma, OH	4.0	2.0	1205	$4,125	$3.42	8d	1	1.11mi
7514 Bertha Ave Cleveland, OH	5.0	2.0	1672	$1,776	$1.06	2d	1	1.18mi
7906 Lanyard Dr Unit 1496071P Parma, OH	4.0	1.5	1227	$5,834	$4.75	8d	1	1.33mi

Listing history 5 events

1. 2026-06-13
   statusdays on market $269,900 Pending 4 DOM
2. 2026-06-09
   days on market $269,900 Active 3 DOM
3. 2026-06-08
   days on market $269,900 Active 2 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   listed $269,900 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: $3,141 · $262/mo
• Projected year-2 tax: $3,676 · $306/mo
• Expected delta: +$535/yr (+$45/mo · 17.0%)

ⓘ 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: $30,380
• − Mortgage interest: −$15,119
• − Property taxes: −$3,141
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,430
• − Management: −$2,430
• − Depreciation: −$7,852
• Taxable loss: −$1,942
• Est. tax savings @ 24.0%: +$466
• After-tax cash flow: $2,991/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

+86.8% since first listed

4 events — show timeline

• 2026-06-06 Listed $269,900 MLSNOW
• 2026-04-10 Sold (MLS) $155,700 MLSNOW
• 2026-03-27 Pending — MLSNOW
• 2026-03-23 Listed $144,500 MLSNOW

Property tax history

+2.3%/yr

Latest (2025): $3,141 · -5.4% YoY. Source: county tax records.