4906 Albertly Ave · Parma, OH 44134

$257,500

4 bd · 2.0 ba · 1,976 sqft · MultiFamily public records · 4 Days on market

Built 1973 4,791 sqft lot Est $243k · 6% over

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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 +22.3/30.0
• DSCR +7.2/10.0
• 1% rule +6.1/10.0
• Rent growth +5.0/5.0
• ARV discount +4.8/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 4906 Albertly Avenue in Parma! Built in 1973, this inviting, up/down duplex on a quiet street is a stand-out with its dual front porch design. Long-term owner (1990) has decided to sell so this is a perfect opportunity in an in-demand location for an owner-occupant or investor. Michael A. Ries Park is around the corner and offers 4 hard courts for tennis/pickleball. See the aerial photos! Both units are identical in layout and size: 988 sqft, 2 bedrooms, 1 full bath, large eat-in kitchen and a spacious living room with front-door access to a private front porch. The unfinished basement has two separate areas and each has its own HVAC, water/electric hookups plus ample space for s

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 1973

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $258k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive. Per door: $213/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $258k).
• Cap rate 8.3% 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 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).
• At $2,862/mo this rent would consume 50% of the median local household income ($69k/yr) (locally 668% 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 $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 $72k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $101k; list at $258k implies a 155% gain — meaningful room to come down on a strong offer.

Recommended offer $257,500

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.09%
• DSCR: 1.32
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $243,048
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4906 Albertly Ave	0.00mi	4/2.0	1,976 (0%)	0mo	$277,600	$140	100
6003 Snow Rd	0.43mi	4/2.0	1,872 (-5%)	5mo	$225,000	$120	67
6125 W 54th St	0.36mi	4/2.0	2,160 (+9%)	1mo	$261,900	$121	67
5886 State Rd	0.47mi	4/2.0	1,900 (-4%)	11mo	$238,000	$125	62
6800 Wilber Ave	0.62mi	4/2.0	1,766 (-11%)	2mo	$245,000	$139	52
6708 Thornton Dr	0.60mi	4/2.0	1,792 (-9%)	7mo	$277,500	$155	51
5610-5612 Warwick Dr	0.62mi	4/2.0	2,160 (+9%)	8mo	$265,000	$123	49
6907 Gerald Ave	0.71mi	4/2.0	1,856 (-6%)	17mo	$221,875	$120	43
5711 Warwick Dr	0.66mi	4/2.0	2,160 (+9%)	18mo	$250,000	$116	39

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $597
• Equity at exit: $38,394

10-year hold

• IRR: 14.5%
• Equity multiple: 2.45×
• Total profit: $104,597
• Equity at exit: $22,264

Cash invested: $72,100 (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: 15.0×

Monthly cashflow live

• Estimated rent: $2,862 high
• Mortgage (P&I): −$1,350
• Tax from tax record: −$378 /mo · $4,530/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$601
• Net cashflow: $426

Break-even live

Break-even rent $2,323

Max offer price $257,500

Occupancy floor 80%

Sensitivity live

Price	-10% $572	-5% $499	+0% $426	+5% $353	+10% $280
Rent	-10% $200	-5% $313	+0% $426	+5% $539	+10% $652
Rate	-1.0pp $555	-0.5pp $491	base $426	+0.5pp $359	+1.0pp $291

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,862
Total (2 units)			$2,862

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: $64,375
• Closing costs: $7,725
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6505 Snow Rd Unit REAR Parma, OH	3.0	1.5	1312	$1,599	$1.22	8d	1	0.54mi
2915 Snow Rd Unit 2/UP Parma, OH	3.0	1.5	2378	$1,550	$0.65	24d	1	0.86mi
7514 Bertha Ave Cleveland, OH	5.0	2.0	1672	$1,776	$1.06	2d	1	0.88mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	8d	1	0.89mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	5d	1	0.89mi
4606 Lincoln Ave Cleveland, OH	3.0	2.0	1418	$1,995	$1.41	2d	1	0.90mi
3330 Fortune Ave Cleveland, OH	3.0	1.5	1258	$1,775	$1.41	44d	1	0.96mi
7906 Lanyard Dr Unit 1496071P Parma, OH	4.0	1.5	1227	$5,834	$4.75	8d	1	1.03mi
4191 W Ridgewood Dr Unit 4193 Parma, OH	4.0	3.0	1800	$1,950	$1.08	44d	1	1.10mi
4407 Woodway Ave Cleveland, OH	3.0	2.0	1728	$1,750	$1.01	24d	1	1.11mi
6511 Luelda Ave Unit Na Parma, OH	3.0	2.0	1577	$1,975	$1.25	44d	1	1.14mi
6007 Merkle Ave Unit Down Parma, OH	3.0	1.0	1250	$1,399	$1.12	2d	1	1.20mi
5080 Whispering Oaks BLVD Parma, OH	3.0	2.0	1332	$1,799	$1.35	13d	1	1.34mi
8326 Fernhill Ave Cleveland, OH	3.0	1.0	1350	$1,700	$1.26	44d	1	1.42mi
5939 Pearl Rd Cleveland, OH	4.0	2.0	2000	$2,499	$1.25	2d	1	1.50mi

Listing history 5 events

1. 2026-04-26
   status Pending
2. 2026-04-26
   historical Contingent
3. 2026-04-21
   status Pending
4. 2026-04-17
   listed $257,500 Active
5. 1990-07-26
   soldstatus $101,000

ⓘ 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: $4,530 · $378/mo
• Projected year-2 tax: $4,530 · $378/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $34,344
• − Mortgage interest: −$14,424
• − Property taxes: −$4,530
• − Insurance: −$1,288
• − Repairs & maintenance: −$2,748
• − Management: −$2,748
• − Depreciation: −$7,491
• Taxable income: $1,116
• Est. tax owed @ 24.0%: −$268
• After-tax cash flow: $4,842/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

+155.0% since first listed

5 events — show timeline

• 2026-04-26 Pending — MLSNOW
• 2026-04-26 Contingent — MLSNOW
• 2026-04-21 Pending — MLSNOW
• 2026-04-17 Listed $257,500 MLSNOW
• 1990-07-26 Sold (Public Records) $101,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $4,530 · -4.8% YoY. Source: county tax records.