22981 Stoneybrook Dr · North Olmsted, OH 44070

$295,000

4 bd · 2.5 ba · 2,070 sqft · SingleFamily public records · 1 Days on market

Built 1962 9,844 sqft lot Est $420k · 30% 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +6.3/10.0
• Schools +4.7/10.0
• Livability +4.3/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

First time offered in decades! This well-maintained North Olmsted home has been lovingly owned by the same family for approximately 60 years and offers 2,070 square feet of living space on a pie-shaped 9,850-square-foot lot. The flexible floor plan includes four bedrooms, including a main-floor bedroom with an adjoining flex room and full bath, creating an ideal space for guests, hobbies, a home office, or potential first-floor living. The flex space also offers the possibility of adding a first-floor laundry area. Beautiful hardwood floors run throughout (we checked under the carpet!). Improvements include a new roof (August 2023), new siding, gutters, downspouts and rear door (September 2

Key facts

• New air conditioning
• New siding
• Main-floor bedroom

Tags

• MAIN-FLOOR BEDROOM
• ADJOINING FLEX ROOM
• NEW ROOF
• NEW SIDING
• NEW AIR CONDITIONING

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Cap rate 8.1% vs local median 4.0% in North Olmsted — 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 86/100 on livability (#38 in OH, #372 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• North Olmsted City (suburban): math 51% / reading 57% proficiency, ranked #368 of 656 in OH (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.9%/yr); 159 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,319/mo this rent would consume 47% of the median local household income ($84k/yr) (locally 667% 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 $2k of loan paydown is wiped out by about $9k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $295,000

Questions for the listing agent

1. Built in 1962 — 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: 1.13% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $420,210
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23066 Stoneybrook Dr	0.07mi	3/2.5 (-1)	1,848 (-11%)	1mo	$365,000	$198	73
23045 Clifford Dr	0.09mi	4/2.0	1,800 (-13%)	7mo	$265,000	$147	66
23643 Stoneybrook Dr	0.42mi	4/2.5	1,944 (-6%)	5mo	$375,000	$193	66
3195 W 230th St	0.24mi	4/2.5	1,789 (-14%)	10mo	$345,000	$193	58
3261 Bridgeport Dr	0.33mi	3/2.5 (-1)	2,228 (+8%)	12mo	$480,000	$215	57
4364 W 219th St	0.64mi	3/2.0 (-1)	1,984 (-4%)	2mo	$393,000	$198	54
3691 Beverly Hills Dr	0.49mi	3/3.0 (-1)	2,267 (+10%)	10mo	$460,000	$203	46
4464 W 224th St	0.66mi	3/2.0 (-1)	1,855 (-10%)	1mo	$310,000	$167	44
3525 Chrisfield Dr	0.66mi	3/2.0 (-1)	1,896 (-8%)	9mo	$435,000	$229	41
3565 Chrisfield Dr	0.63mi	4/2.5	2,345 (+13%)	11mo	$566,001	$241	39
4171 W 222nd St	0.50mi	3/2.0 (-1)	1,768 (-15%)	10mo	$380,000	$215	37
3385 Palmer Dr	0.72mi	5/2.5 (+1)	2,308 (+12%)	8mo	$700,000	$303	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 · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-22,760
• Equity at exit: $43,985

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $2,456
• Equity at exit: $25,506

Cash invested: $82,600 (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 44070

• Rents YoY: 1.9%
• Active inventory: 159
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,319 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$502 /mo · $6,019/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $451

Break-even live

Break-even rent $2,749

Max offer price $295,000

Occupancy floor 81%

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4566 W 226th St Cleveland, OH	3.0	1.0	1488	$1,895	$1.27	43d	1	0.69mi
22603 Center Ridge Rd Rocky River, OH	1.0–3.0	1.0–2.5	2190	$6,295	$2.87	1d	23	0.86mi
21216 N Park Dr Cleveland, OH	4.0	1.5	2150	$2,325	$1.08	1d	1	1.05mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $295,000 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: $6,019 · $502/mo
• Projected year-2 tax: $6,019 · $502/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,832
• − Mortgage interest: −$16,525
• − Property taxes: −$6,019
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,187
• − Management: −$3,187
• − Depreciation: −$8,582
• Taxable income: $858
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $5,203/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: North Olmsted City
• NCES district ID: 3904452
• Math proficiency: 51% ▼ -17.00%
• Reading proficiency: 57% ▼ -7.00%
• Median HH income: $59,338
• Composite: 46.98/100
• National rank: #2353
• State rank: #368 of 656 in OH

Livability — North Olmsted

• Score: 86/100
• State rank: #38
• US rank: #372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Olmsted, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 31,924
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 31,924
• Household income: $84,363
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 667.0

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% Hispanic / Latino 7% Two or more races 6% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 3% Other Indo-European 3% Arabic 3%

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: ▼ -243.21%
• Current HPI: 214.2257
• Rent YoY: ▲ 1.85%
• 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

1 event — show timeline

• 2026-06-18 Listed $295,000 MLSNOW

Property tax history

+3.8%/yr

Latest (2025): $6,019 · -1.5% YoY. Source: county tax records.