17482 Falling Water Rd · Strongsville, OH 44136

$199,900

4 bd · 2.0 ba · 1,920 sqft · SingleFamily public records · 3 Days on market

Built 1970 0.25 ac lot Est $315k · 37% under $60/mo HOA · 2% of rent

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Why this score? — see what drove the B 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +7.7/10.0
• Schools +6.7/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't hesitate on this fabulous opportunity in Ledgewood! Offering an open floor plan, this home features a full back wall of patio doors which provide access from both the dining room and the family room to the back deck with parklike views, spanning the entire width of the home. The eat-in kitchen includes all appliances, a large pantry closet and is open to the family room for the enjoyment of both the wooded views and the gas-log fireplace. The owners' suite includes a private bath, dressing area, walk in closet and access to the deck. The second bedroom also provides deck access, and the 3rd and 4th bedrooms offer built-in desk nooks. A second full bath, laundry room and attached 2.5

Key facts

• Open floor plan
• Large pantry closet
• Eat-in kitchen

Tags

• OPEN FLOOR PLAN
• FULL BACK WALL OF PATIO DOORS
• ACCESS TO THE BACK DECK
• PARKLIKE VIEWS
• EAT-IN KITCHEN
• LARGE PANTRY CLOSET

Property features AI

Finance

• HOA & community: Part of Ledgewood association; Annual association fee of $725 covering common area maintenance, structure maintenance, and recreation facilities; Community amenities include common grounds, pool, and tennis courts

Exterior

• Parking: Attached 2-car garage with direct access and garage door opener; garage faces side
• Utilities: Public water; Public sewer
• Home design: Single-story home; Faces south; Fixer condition
• Construction: Built as recorded in public records; Wood siding; Asphalt/fiberglass roof; Slab foundation
• Exterior features: Deck; Wooded lot

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Four main-level bedrooms
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Entrance foyer; Eat-in kitchen; Walk-in closet(s); Family room fireplace (gas)
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 8.9% vs local median 3.2% in Strongsville — 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 88/100 on livability (#27 in OH, #243 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Strongsville City (suburban): math 73% / reading 79% proficiency, ranked #62 of 656 in OH (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Strongsville Middle School (math 70% / reading 76%, grade A, #105 of 654 statewide, top 17%, 1,270 students, 20% FRL); Strongsville High School (math 63% / reading 82%, grade B+, #87 of 781 statewide, top 11%, 1,844 students, 17% FRL) — zoned schools at 18% FRL track the district average.
• Market conditions: 81 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 33% of the median local income ($94k/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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $200k implies a 300% gain — meaningful room to come down on a strong offer.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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 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: 1.27% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $314,880
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17482 Falling Water Rd	0.00mi	4/2.0	1,920 (0%)	0mo	$255,000	$133	100
12145 The Blfs	0.23mi	4/2.0	1,996 (+4%)	11mo	$437,500	$219	73
17179 Woodleaf Rd	0.18mi	4/2.0	2,000 (+4%)	20mo	$325,000	$163	68
17800 Falling Leaves	0.38mi	3/2.0 (-1)	1,968 (+2%)	11mo	$415,000	$211	64
12612 The Bluffs Rd	0.09mi	5/2.0 (+1)	2,112 (+10%)	16mo	$403,000	$191	61
18438 Meadow Ln	0.41mi	4/2.0	1,751 (-9%)	8mo	$275,000	$157	60
17338 Ridge Creek Rd	0.22mi	3/2.5 (-1)	2,200 (+15%)	1mo	$360,000	$164	57
18910 Bonnie Ln	0.61mi	4/2.5	2,110 (+10%)	18mo	$322,500	$153	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-4,245
• Equity at exit: $29,806

10-year hold

• IRR: 7.8%
• Equity multiple: 1.59×
• Total profit: $32,981
• Equity at exit: $17,284

Cash invested: $55,972 (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 44136

• Active inventory: 81
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,548 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$382 /mo · $4,582/yr
• Insurance: −$83
• HOA: −$60
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $439

Break-even live

Break-even rent $1,992

Max offer price $199,900

Occupancy floor 78%

Sensitivity live

Price	-10% $553	-5% $496	+0% $439	+5% $383	+10% $326
Rent	-10% $238	-5% $339	+0% $439	+5% $540	+10% $641
Rate	-1.0pp $540	-0.5pp $490	base $439	+0.5pp $388	+1.0pp $335

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20368 Westwood Dr Strongsville, OH	4.0	2.0	1864	$2,400	$1.29	5d	1	1.44mi
13187 Yager Dr Strongsville, OH	4.0	1.5	1850	$2,700	$1.46	5d	1	1.47mi

HOA detail

• Monthly dues: $60 · $720/yr
• Likely covers: gas

Listing history 4 events

1. 2026-06-02
   statusdays on market $199,900 Pending 3 DOM
2. 2026-06-01
   days on market $199,900 Active 2 DOM
3. 2026-05-31
   remarks 699-char remark
4. 2026-05-31
   listed $199,900 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: $4,582 · $382/mo
• Projected year-2 tax: $4,582 · $382/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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,575
• − Mortgage interest: −$11,198
• − Property taxes: −$4,582
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,446
• − Management: −$2,446
• − HOA: −$720
• − Depreciation: −$5,815
• Taxable income: $2,369
• Est. tax owed @ 24.0%: −$569
• After-tax cash flow: $4,705/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: Strongsville City
• NCES district ID: 3904484
• Math proficiency: 73% ▼ -10.00%
• Reading proficiency: 79% ▼ -2.00%
• Median HH income: $78,206
• Composite: 67.02/100
• National rank: #395
• State rank: #62 of 656 in OH

Livability — Strongsville

• Score: 88/100
• State rank: #27
• US rank: #243

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: Strongsville, OH
• County: Cuyahoga · 1,045,444 people
• City population: 46,110
• Metro: Cleveland, OH
• Population (ZIP): 25,068
• Household income: $93,713
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 8.9

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 (81%)
• Race & ethnicity: White 81% Asian 11% Two or more races 3% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 10% Subsaharan African 3% Slovak 2%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 82% English-only · Other Indo-European 7% Arabic 3% Russian/Polish/Slavic 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: ▼ -188.78%
• Current HPI: 205.4425
• 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

+299.8% since first listed

2 events — show timeline

• 2026-05-28 Listed $199,900 MLSNOW
• 1970-12-01 Sold (Public Records) $50,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $4,582 · -0.0% YoY. Source: county tax records.