8214 Essen Ave · Parma, OH 44129

$125,000

3 bd · 1.0 ba · 1,259 sqft · SingleFamily public records · 4 Days on market

Built 1925 5,227 sqft lot Est $235k · 47% under

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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 +7.9/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The best deal in Parma! Investors. .. COME AND GET IT! Love and imagination is all you need to restore this classic Western Bungalow! It's solid, but been through a lot. Well distributed space throughout, with 3 bedrooms, 2 bathrooms, and a 2 car garage. It's ready for you to roll up your sleeves and help realize its potential.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1925

Property features AI

Exterior

• Parking: Detached garage (2-car)
• Utilities: Public water; Public sewer
• Home design: 2-story single family home; Home faces south; Property listed as fixer
• Construction: Shake and vinyl siding; Asphalt fiberglass roof; Block foundation; Built per public records
• Exterior features: Covered, enclosed front porch; Patio/porch

Interior

• Kitchen: Kitchen on first level
• Bedrooms: Bedrooms located on second level (2 bedrooms)
• Flooring: Carpeted living areas and bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (gas)
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 8.9% 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 (+4.3%/yr); 85 active listings in the ZIP; 22 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 4.3% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.29% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.41%
• DSCR: 1.42
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $235,433
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8214 Essen Ave	0.00mi	3/2.0	1,259 (0%)	0mo	$115,000	$91	96
5926 Deering Ave	0.31mi	3/1.0	1,278 (+2%)	0mo	$217,500	$170	83
9158 Snow Rd	0.34mi	3/1.0	1,236 (-2%)	1mo	$220,000	$178	81
7907 Renwood Dr	0.47mi	3/1.0	1,278 (+2%)	0mo	$217,500	$170	75
7515 Ridgefield Ave	0.35mi	3/2.5	1,312 (+4%)	1mo	$245,000	$187	70
9504 Eureka Pkwy	0.52mi	3/1.0	1,211 (-4%)	0mo	$158,000	$130	69
7511 Wooster Pkwy	0.40mi	4/2.0 (+1)	1,212 (-4%)	1mo	$265,000	$219	66
7503 Whittington Dr	0.49mi	3/2.0	1,344 (+7%)	0mo	$265,000	$197	61
9417 Fernhill Ave	0.70mi	3/1.0	1,335 (+6%)	0mo	$223,000	$167	57
6307 Kenneth Ave	0.71mi	4/1.0 (+1)	1,219 (-3%)	0mo	$243,000	$199	56
7600 Dartworth	0.36mi	4/2.0 (+1)	1,105 (-12%)	1mo	$230,000	$208	53
8016 Pelham Dr	0.59mi	3/1.0	1,111 (-12%)	0mo	$235,000	$212	53

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-547
• Equity at exit: $18,638

10-year hold

• IRR: 10.8%
• Equity multiple: 1.90×
• Total profit: $31,374
• Equity at exit: $10,808

Cash invested: $35,000 (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 44129

• Rents YoY: 4.3%
• Active inventory: 85
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,608 high
• Mortgage (P&I): −$656
• Tax from tax record: −$288 /mo · $3,455/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $275

Break-even live

Break-even rent $1,260

Max offer price $125,000

Occupancy floor 78%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8326 Fernhill Ave Cleveland, OH	3.0	1.0	1350	$1,700	$1.26	43d	1	0.54mi
7906 Lanyard Dr Unit 1496071P Parma, OH	4.0	1.5	1227	$5,834	$4.75	7d	1	0.54mi
9703 Snow Rd Cleveland, OH	3.0	1.0	1103	$1,675	$1.52	2d	1	0.57mi
6099 Ridge Rd Cleveland, OH	2.0	1.0	1020	$1,200	$1.18	21d	1	0.62mi
6505 Snow Rd Unit REAR Parma, OH	3.0	1.5	1312	$1,599	$1.22	7d	1	0.66mi
6236 Westminster Dr Cleveland, OH	3.0	1.0	1131	$1,700	$1.50	14d	1	0.70mi
7903 Ackley Rd Unit 7903 Parma, OH	3.0	1.0	1100	$1,600	$1.45	43d	1	0.84mi
9474 Roxbury Rd Cleveland, OH	3.0	2.0	1050	$1,850	$1.76	3d	1	0.87mi
9474 Roxbury Rd Cleveland, OH	3.0	2.0	1050	$2,000	$1.90	23d	1	0.87mi
6511 Luelda Ave Unit Na Parma, OH	3.0	2.0	1577	$1,975	$1.25	43d	1	1.04mi
6403 Ridge Rd Cleveland, OH	2.0	2.0	1110	$1,450	$1.31	16d	1	1.06mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	7d	1	1.12mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	4d	1	1.12mi
8310 Salisbury Dr Cleveland, OH	3.0	2.0	1088	$1,950	$1.79	7d	1	1.20mi
6007 Merkle Ave Unit Down Parma, OH	3.0	1.0	1250	$1,399	$1.12	1d	1	1.22mi
6260 Pearl Rd Cleveland, OH	1.0–2.0	1.0–2.0	950	$1,465	$1.54	1d	17	1.37mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	946	$1,300	$1.37	4d	1	1.38mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	958	$1,300	$1.36	7d	1	1.38mi
11540 Apache Dr Parma Heights, OH	2.0–3.0	1.0–2.0	1232	$2,040	$1.66	1d	23	1.38mi
4606 Lincoln Ave Cleveland, OH	3.0	2.0	1418	$1,995	$1.41	1d	1	1.45mi
5930 Stumph Rd Cleveland, OH	1.0–2.0	1.0–2.0	905	$1,470	$1.62	1d	9	1.48mi
6040 Stumph Rd Cleveland, OH	2.0–3.0	1.0–1.5	981	$1,140	$1.16	43d	1	1.49mi

Listing history 2 events

1. 2026-04-28
   status Pending
2. 2026-04-24
   listed $125,000 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: $3,455 · $288/mo
• Projected year-2 tax: $3,455 · $288/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 ≥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: $19,292
• − Mortgage interest: −$7,002
• − Property taxes: −$3,455
• − Insurance: −$625
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$3,636
• Taxable income: $1,488
• Est. tax owed @ 24.0%: −$357
• After-tax cash flow: $2,938/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): 28,800
• Household income: $70,651
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 541.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 8% Black 7% Asian 2%
• Hispanic origin (detail): Puerto Rican 9%
• Common ancestry: Romanian 12% Subsaharan African 3% Scandinavian 1%
• Foreign-born: 11% · Canada, India, Vietnam
• Languages at home: 82% English-only · Spanish 7% Russian/Polish/Slavic 4% Other Indo-European 3%

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: ▼ -143.31%
• Current HPI: 184.2628
• Rent YoY: ▲ 4.29%
• 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

2 events — show timeline

• 2026-04-28 Pending — MLSNOW
• 2026-04-24 Listed $125,000 MLSNOW

Property tax history

+3.7%/yr

Latest (2025): $3,455 · -2.1% YoY. Source: county tax records.