16790 Main Market Rd · Parkman, OH 44491

$235,000

5 bd · 2.0 ba · 2,474 sqft · MultiFamily public records · 11 Days on market

Built 1954 1.56 ac lot ↓ 22% since listing

---

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 +19.8/30.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• DSCR +6.3/10.0
• 1% rule +4.5/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

A GREAT OPPORTUNITY - LIVE RENT FREE! Have your Tenants pay for your housing cost while you live in the four bedroom, 2 bath main floor unit, even if you have a mortgage it can work favorably. This duplex can provide up to $2500 per month in rental income. If you are an INVESTOR you can also rent out the main floor unit to further increase your ROI. This property is on 1.56 acres and set back from the main roadway (SR 422) with a circular driveway. It provides easy access to all conveniences and yet the pleasure of country living with a large rear yard. Take a serious look at this SUPERB OPPORTUNITY.

Key facts

• 1.56 acre lot
• Parking
• Built 1954

Property features AI

Exterior

• Parking: Circular driveway
• Utilities: Well water; Aerobic septic and septic tank
• Home design: 2-story building
• Construction: Vinyl siding; Asphalt/fiberglass roof; Below-grade finished area present
• Exterior features: Circular driveway; 1.56 acre lot

Interior

• Bathrooms: 6 full bathrooms
• Heating & cooling: Electric baseboard heating; Wall/window cooling units
• Interior features: 12 total rooms; Partially finished basement with an apartment; Virtual tours available
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2 × 6-bed/3.0-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive. Per door: $140/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (4.8% below list).
• Recommended offer: $224k (4.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#823 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: amenities F, commute F, health & safety F.
• Cardinal Local (town): math 47% / reading 59% proficiency, ranked #396 of 656 in OH (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 220 units permitted in Geauga County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $9k appreciation (3.7% local appreciation)).
• Geauga County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 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.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $223,800 (4.8% below list)

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 1954 — 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. 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 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: 0.95% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.84×
• Total profit: $55,023
• Equity at exit: $115,202

10-year hold

• IRR: 15.4%
• Equity multiple: 3.43×
• Total profit: $160,137
• Equity at exit: $185,341

Cash invested: $65,800 (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 44491

• Home prices YoY: 1.5%
• Active inventory: 16
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $2,238 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$158 /mo · $1,899/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $279

Break-even live

Break-even rent $1,884

Max offer price $235,000

Occupancy floor 83%

Sensitivity live

Price	-10% $412	-5% $346	+0% $279	+5% $213	+10% $146
Rent	-10% $103	-5% $191	+0% $279	+5% $368	+10% $456
Rate	-1.0pp $398	-0.5pp $339	base $279	+0.5pp $219	+1.0pp $157

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

Units	Beds	Baths	Est. rent
▸ 2× units	6	3	$2,238
Total (2 units)			$2,238

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-22
   status Pending
2. 2026-04-10
   listed $235,000 Active
3. 2025-12-06
   historical
4. 2025-10-14
   price $275,000
5. 2025-07-29
   price $289,900
6. 2025-06-06
   listed $299,900 Active

ⓘ 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: $1,899 · $158/mo
• Projected year-2 tax: $2,783 · $232/mo
• Expected delta: +$883/yr (+$74/mo · 46.5%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,856
• − Mortgage interest: −$13,164
• − Property taxes: −$1,899
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,148
• − Management: −$2,148
• − Depreciation: −$6,836
• Taxable loss: −$515
• Est. tax savings @ 24.0%: +$124
• After-tax cash flow: $3,477/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: Cardinal Local
• NCES district ID: 3904717
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $50,513
• Composite: 45.28/100
• National rank: #2655
• State rank: #396 of 656 in OH

Livability — Parkman

• Score: 63/100
• State rank: #823
• US rank: #15342

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Trumbull · 193,293 people
• City population: 73
• Metro: Youngstown-Warren, OH
• Population (ZIP): 3,683
• Household income: $63,750
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 3.6

Population outlook (Geauga County) Hauer SSP2

• Today (2025): 94,919 people
• By 2030: 94,804 · -0.1%
• By 2040: 92,641 · -2.4%
• By 2050: 88,198 · -7.1%
• By 2075: 79,080 · -16.7%
• By 2100: 60,856 · -35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Polish 29% Subsaharan African 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 54% English-only · German/W. Germanic 43% Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Geauga

• 2024 margin: Strong R (+24.1) · D 37.5% · R 61.7%
• 2008→2024 swing: -8.8pp toward R · 2008: -15.4pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+23.1 2016: R+25.5 2012: R+21.6 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.71%
• Current HPI: 246.5022
• Rent YoY: —
• Metro: —
• 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

-21.6% since first listed

6 events — show timeline

• 2026-04-22 Pending — MLSNOW
• 2026-04-10 Listed $235,000 MLSNOW
• 2025-12-06 Listing Removed — MLSNOW
• 2025-10-14 Price Changed $275,000 MLSNOW
• 2025-07-29 Price Changed $289,900 MLSNOW
• 2025-06-06 Listed $299,900 MLSNOW

Property tax history

+0.5%/yr

Latest (2025): $1,899 · -0.3% YoY. Source: county tax records.