3426 Center Dr · Parma, OH 44134

$199,000

3 bd · 1.0 ba · 1,244 sqft · SingleFamily public records · 3 Days on market

Built 1954 5,270 sqft lot Est $248k · 20% 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 +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and nicely updated three bedroom, one and a half bath ranch offering easy one floor living with thoughtful improvements throughout. Features include updated flooring across the home, a refreshed kitchen and bath, and a spacious family room addition off the back that provides excellent flexibility for everyday living or entertaining. Step outside to a backyard deck that extends your living space outdoors, perfect for morning coffee, summer evenings, or hosting gatherings while overlooking the generous green space. The yard offers plenty of room for pets, play, or future landscaping ideas. The one car garage provides convenient access along with added storage and functionality, makin

Key facts

• Updated flooring
• Backyard deck
• Generous green space

Tags

• UPDATED FLOORING
• REFRESHED KITCHEN
• SPACIOUS FAMILY ROOM
• BACKYARD DECK
• GENEROUS GREEN SPACE
• PARTIALLY FINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Cap rate 7.3% 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.
• Zoned schools: Dentzler Elementary School (math 62% / reading 52%, grade C+, #729 of 1,584 statewide, top 48%, 456 students, 51% FRL); Hillside Middle School (math 63% / reading 67%, grade A-, #194 of 654 statewide, top 31%, 539 students, 44% FRL); Normandy High School (math 49% / reading 67%, grade C, #270 of 781 statewide, top 35%, 1,304 students, 39% FRL) — zoned schools at 45% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 48% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Parma City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+10.6%/yr); 120 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 35% 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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $153k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $199,000

Questions for the listing agent

1. Built in 1954 — 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: 1.01% ✓
• Cap rate: 7.31%
• Cash-on-cash: 3.63%
• DSCR: 1.16
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $247,556
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3426 Center Dr	0.00mi	3/1.5	1,244 (0%)	1mo	$225,000	$181	97
3640 Hetzel Dr	0.22mi	3/2.0	1,144 (-8%)	4mo	$266,700	$233	69
3414 Klusner Ave	0.12mi	3/1.0	1,415 (+14%)	4mo	$264,000	$187	68
2923 Stanfield Dr	0.27mi	3/2.0	1,131 (-9%)	0mo	$196,000	$173	68
3203 Hetzel Dr	0.27mi	3/1.5	1,120 (-10%)	4mo	$250,000	$223	65
3003 Park Dr	0.25mi	3/1.0	1,064 (-14%)	1mo	$225,500	$212	64
3335 Stanfield Dr	0.10mi	3/2.0	1,064 (-14%)	4mo	$212,000	$199	64
4209 Orchard Park Dr	0.39mi	3/2.0	1,120 (-10%)	2mo	$210,000	$188	59
3226 Stanfield Dr	0.13mi	4/2.0 (+1)	1,429 (+15%)	2mo	$210,000	$147	58
2718 Klusner Ave	0.40mi	3/2.0	1,064 (-14%)	3mo	$215,000	$202	50
4519 W Ridgewood Dr	0.59mi	2/1.0 (-1)	1,078 (-13%)	1mo	$220,000	$204	45
3440 Winthrop Dr	0.74mi	3/1.5	1,060 (-15%)	3mo	$195,000	$184	37

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-10,849
• Equity at exit: $29,672

10-year hold

• IRR: 9.9%
• Equity multiple: 1.95×
• Total profit: $52,903
• Equity at exit: $17,206

Cash invested: $55,720 (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: 120
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,008 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$292 /mo · $3,499/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $168

Break-even live

Break-even rent $1,795

Max offer price $199,000

Occupancy floor 87%

Sensitivity live

Price	-10% $281	-5% $225	+0% $168	+5% $112	+10% $56
Rent	-10% $10	-5% $89	+0% $168	+5% $248	+10% $327
Rate	-1.0pp $269	-0.5pp $219	base $168	+0.5pp $117	+1.0pp $64

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3415 Center Dr Cleveland, OH	3.0	1.0	1048	$1,995	$1.90	3d	1	0.05mi
5080 Whispering Oaks BLVD Parma, OH	3.0	2.0	1332	$1,799	$1.35	14d	1	0.64mi
6841 Day Dr Cleveland, OH	1.0–3.0	1.0–1.5	862	$1,525	$1.77	3d	5	1.07mi

Listing history 3 events

1. 2026-04-27
   status Pending
2. 2026-04-23
   listed $199,000 Active
3. 2021-03-31
   soldstatus $153,000

ⓘ 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: $3,499 · $292/mo
• Projected year-2 tax: $3,499 · $292/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 ≥94°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: $24,099
• − Mortgage interest: −$11,147
• − Property taxes: −$3,499
• − Insurance: −$995
• − Repairs & maintenance: −$1,928
• − Management: −$1,928
• − Depreciation: −$5,789
• Taxable loss: −$1,187
• Est. tax savings @ 24.0%: +$285
• After-tax cash flow: $2,306/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

+30.1% since first listed

3 events — show timeline

• 2026-04-27 Pending — MLSNOW
• 2026-04-23 Listed $199,000 MLSNOW
• 2021-03-31 Sold (Public Records) $153,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,499 · -5.6% YoY. Source: county tax records.