4407 Woodway Ave · Parma, OH 44134

$195,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 1 Days on market

Built 1955 4,717 sqft lot Est $180k · 9% 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 +24.0/30.0
• DSCR +7.7/10.0
• 1% rule +6.1/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• ARV discount +3.7/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

For Information Purposes Only

Key facts

• 4,717 sq ft lot
• 2 garage spots
• Built 1955

Property features AI

Finance

• Financial info: Annual tax amount reported (2024)

Exterior

• Parking: Detached 2-car garage
• Security: Carbon monoxide detectors; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-story; Block construction; Asbestos shingle roof; Home warranty included
• Construction: Built (year source: Assessor); Block foundation
• Exterior features: Carbon monoxide detectors; Smoke detectors; Lot about 0.108 acres

Interior

• Kitchen: Disposal; Range; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Has basement; Fixer condition; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 8.6% 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: Thoreau Park Elementary School (math 37% / reading 42%, grade F, #1,055 of 1,584 statewide, top 68%, 409 students, 60% FRL); Shiloh Middle School (math 27% / reading 46%, grade F, #539 of 654 statewide, top 83%, 511 students, 65% FRL); Parma High School (math 32% / reading 47%, grade F, #528 of 781 statewide, top 71%, 1,233 students, 55% FRL) — zoned schools average 60% FRL vs 41% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.6%/yr); 120 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 38% 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 $55k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 27y ago 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.
• Current owner paid $125k; list at $195k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $195,000

Questions for the listing agent

1. Built in 1955 — 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: 1.11% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $179,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4407 Woodway Ave	0.00mi	3/1.0	864 (0%)	3mo	$125,000	$145	97
4407 Woodway Ave	0.00mi	3/2.0	864 (0%)	1mo	$195,000	$226	96
4007 Tuxedo Ave	0.14mi	4/2.0 (+1)	852 (-1%)	3mo	$219,000	$257	79
4319 Russell Ave	0.15mi	3/1.0	936 (+8%)	18mo	$182,000	$194	64
5615 Luelda Ave	0.49mi	2/1.0 (-1)	829 (-4%)	3mo	$165,000	$199	63
3811 Theota Ave	0.29mi	3/1.0	978 (+13%)	4mo	$152,000	$155	61
3714 Russell Ave	0.23mi	3/1.5	988 (+14%)	7mo	$184,000	$186	57
5409 Theota Ave	0.48mi	3/1.0	840 (-3%)	19mo	$139,900	$167	57
4907 Kenmore Ave	0.66mi	3/1.0	888 (+3%)	10mo	$189,900	$214	56
2819 Lincoln Ave	0.66mi	3/2.0	910 (+5%)	2mo	$240,000	$264	55
4413 Torrington Ave	0.44mi	3/2.0	968 (+12%)	1mo	$210,000	$217	54
2910 Fortune Ave	0.69mi	3/1.0	744 (-14%)	4mo	$155,000	$208	42

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: 1.9%
• Equity multiple: 1.08×
• Total profit: $4,204
• Equity at exit: $29,075

10-year hold

• IRR: 15.9%
• Equity multiple: 2.60×
• Total profit: $87,288
• Equity at exit: $16,860

Cash invested: $54,600 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,172 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$230 /mo · $2,764/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $382

Break-even live

Break-even rent $1,689

Max offer price $195,000

Occupancy floor 77%

Sensitivity live

Price	-10% $492	-5% $437	+0% $382	+5% $326	+10% $271
Rent	-10% $210	-5% $296	+0% $382	+5% $467	+10% $553
Rate	-1.0pp $480	-0.5pp $431	base $382	+0.5pp $331	+1.0pp $280

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5252 W 45th St Unit 1496134P Parma, OH	3.0	2.0	1065	$3,258	$3.06	0d	1	0.08mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	946	$1,300	$1.37	6d	1	0.43mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	958	$1,300	$1.36	9d	1	0.43mi
4520 Kenmore Ave Cleveland, OH	2.0	1.0	726	$1,520	$2.09	0d	1	0.62mi
3027 Fortune Ave Unit 2 Parma, OH	2.0	1.0	726	$1,075	$1.48	0d	1	0.64mi
3027 Fortune Ave Unit 1 Parma, OH	2.0	1.0	880	$1,175	$1.34	45d	1	0.64mi
2910 Fortune Ave Cleveland, OH	2.0	1.0	744	$1,775	$2.39	25d	1	0.69mi
2611 Brookdale Ave Cleveland, OH	3.0	1.0	1092	$1,825	$1.67	45d	1	0.79mi
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	45d	1	1.02mi

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $2,764 · $230/mo
• Projected year-2 tax: $2,903 · $242/mo
• Expected delta: +$139/yr (+$12/mo · 5.0%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,061
• − Mortgage interest: −$10,923
• − Property taxes: −$2,764
• − Insurance: −$975
• − Repairs & maintenance: −$2,085
• − Management: −$2,085
• − Depreciation: −$5,673
• Taxable income: $1,557
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $4,205/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

-97.9% since first listed

21 events — show timeline

• 2026-05-29 Pending — MLSNOW
• 2026-05-29 Rental Removed $1,750 YESMLS
• 2026-05-28 Listed $195,000 MLSNOW
• 2026-05-26 Listed for Rent $1,750 YESMLS
• 2026-03-18 Sold (MLS) $125,000 MLSNOW
• 2026-02-11 Listed $125,000 MLSNOW
• 2019-12-06 Sold (Public Records) $76,000 Public Records
• 2019-12-06 Sold (MLS) $76,000 MLSNOW
• 2019-12-03 Listing Removed — MLSNOW
• 2019-11-13 Contingent — MLSNOW
• 2019-10-28 Relisted — MLSNOW
• 2019-10-28 Price Changed $89,500 MLSNOW
• 2019-10-24 Listing Removed — MLSNOW
• 2019-10-08 Price Changed $96,000 MLSNOW
• 2019-09-17 Price Changed $101,000 MLSNOW
• 2019-08-30 Listed $109,500 MLSNOW
• 1999-09-09 Listing Removed — MLSNOW
• 1999-06-02 Listed $102,000 MLSNOW
• 1999-06-01 Listing Removed — MLSNOW
• 1999-02-01 Listed $104,000 MLSNOW
• 1997-11-06 Sold (Public Records) $85,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,764 · -5.1% YoY. Source: county tax records.