23630 Carriage Ln · North Olmsted, OH 44070

$279,000

3 bd · 1.5 ba · 1,786 sqft · SingleFamily public records · 7 Days on market

Built 1964 0.35 ac lot Est $318k · 12% 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 +17.9/30.0
• ARV discount +13.0/15.0
• DSCR +5.6/10.0
• 1% rule +5.0/10.0
• 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

Welcome to 23630 Carriage Lane in desirable North Olmsted, with well-maintained charm. This 3-bedroom split-level home offers updated features, functional living space, and a private wooded setting near Great Northern Mall, I-480, shopping, dining, parks, schools, and everyday conveniences. This well-maintained home features an open kitchen and dining room layout with a breakfast bar, creating the perfect space for entertaining, family gatherings, and daily living. The updated bathroom includes a newer vanity and refreshed finishes for a clean, modern feel. A large, spacious laundry room adds exceptional convenience and extra storage. Enjoy relaxing mornings on the welcoming front porch or

Key facts

• Concrete patio
• Storage shed
• Updated bathroom

Tags

• PRIVATE WOODED SETTING
• OPEN KITCHEN AND DINING ROOM
• UPDATED BATHROOM
• LARGE SPACIOUS LAUNDRY ROOM
• CONCRETE PATIO
• STORAGE SHED

Property features AI

Finance

• HOA & community: Nearby park, restaurants, shopping and sidewalks

Exterior

• Parking: Attached garage with 2 spaces; Garage faces front; Garage door opener; Workshop in garage; Driveway; On-street parking; Concrete and gravel surfaces; Drain
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: 2-story house; Faces south; Slab foundation
• Construction: Aluminum siding and brick exterior; Asphalt shingle roof; Built in public records year (year built source: Public Records); Home warranty included
• Exterior features: Front porch; Porch; Patio; Storage; Shed(s); Split rail fencing; Landscaped yard; Front yard; Many trees; Wooded; Dead-end street; Rectangular lot

Interior

• Kitchen: Range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: 7 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Breakfast bar; Ceiling fans; Entrance foyer; His and hers closets; Laminate counters; Multiple closets; Recessed lighting; Insulated windows; Window treatments
• Laundry & utility: Washer; Dryer; Washer hookup; Laundry tub; Utility sink

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $233 ($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 $278k (0.5% below list).
• Recommended offer: $278k (0.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 39% of the median local income ($84k/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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $130k; list at $279k implies a 115% gain — meaningful room to come down on a strong offer.

Recommended offer $277,636 (0.5% below list)

Questions for the listing agent

1. Built in 1964 — 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: 1.00% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $317,908
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23956 Fairlawn Dr	0.45mi	3/1.5	1,780 (-0%)	0mo	$294,000	$165	78
23066 Stoneybrook Dr	0.47mi	3/2.5	1,848 (+4%)	1mo	$365,000	$198	68
24281 Lebern Dr	0.52mi	3/1.5	1,620 (-9%)	0mo	$289,000	$178	60
24237 Woodmere Dr	0.63mi	4/1.5 (+1)	1,728 (-3%)	0mo	$255,000	$148	60
3529 Hunter Dr	0.70mi	3/1.5	1,716 (-4%)	1mo	$305,000	$178	60
4652 W 228th St	0.72mi	3/2.0	1,834 (+3%)	4mo	$292,500	$159	56
24420 S Oxford Oval	0.53mi	3/1.5	2,016 (+13%)	1mo	$319,000	$158	53
23993 Fairlawn Dr	0.49mi	3/1.5	1,520 (-15%)	3mo	$266,500	$175	50
24282 Fairlawn Dr	0.58mi	3/1.5	1,520 (-15%)	2mo	$285,000	$188	47
24255 Westwood Rd	0.65mi	4/3.0 (+1)	1,987 (+11%)	0mo	$400,000	$201	40
4082 W 226th St	0.68mi	4/2.0 (+1)	1,568 (-12%)	2mo	$415,000	$265	39
3913 W 227th St	0.74mi	4/2.0 (+1)	1,548 (-13%)	2mo	$190,000	$123	35

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: -12.0%
• Equity multiple: 0.57×
• Total profit: $-33,496
• Equity at exit: $41,600

10-year hold

• IRR: -4.6%
• Equity multiple: 0.71×
• Total profit: $-22,558
• Equity at exit: $24,123

Cash invested: $78,120 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,776 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$381 /mo · $4,574/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $233

Break-even live

Break-even rent $2,482

Max offer price $279,000

Occupancy floor 87%

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	0.78mi
25312 Hall Dr Westlake, OH	4.0	1.5	1260	$2,280	$1.81	43d	1	0.88mi
22603 Center Ridge Rd Rocky River, OH	1.0–3.0	1.0–2.5	2190	$6,295	$2.87	1d	23	1.23mi
21216 N Park Dr Cleveland, OH	4.0	1.5	2150	$2,325	$1.08	1d	1	1.41mi

Listing history 7 events

1. 2026-06-18
   days on market $279,000 Active 7 DOM
2. 2026-06-17
   days on market $279,000 Active 6 DOM
3. 2026-06-16
   days on market $279,000 Active 5 DOM
4. 2026-06-15
   status $279,000 Active 4 DOM
5. 2026-06-02
   statusdays on market $279,000 Pending 4 DOM
6. 2026-06-01
   days on market $279,000 Active 3 DOM
7. 2026-05-31
   days on market $279,000 Active 2 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: $4,574 · $381/mo
• Projected year-2 tax: $4,574 · $381/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: $33,316
• − Mortgage interest: −$15,628
• − Property taxes: −$4,574
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,665
• − Management: −$2,665
• − Depreciation: −$8,116
• Taxable loss: −$1,728
• Est. tax savings @ 24.0%: +$415
• After-tax cash flow: $3,208/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

+656.1% since first listed

3 events — show timeline

• 2026-05-28 Listed $279,000 MLSNOW
• 2010-12-16 Sold (Public Records) $130,000 Public Records
• 1971-11-01 Sold (Public Records) $36,900 Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,574 · -1.6% YoY. Source: county tax records.