3023 Norris Ave · Parma, OH 44134

$219,900

3 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 7 Days on market

Built 1964 5,662 sqft lot Est $230k · at est.

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Why this score? — see what drove the D 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 +10.9/30.0
• ARV discount +9.4/15.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turn the key and move in! Grandma and Grandpa took care of their home! Nice brick ranch! 2 car garage! Formal dining room with built in china cabinets! Hardwood floors! Finished basement with full bath! Blown in insulation! Furnace 2008! Exterior doors 2007! Super clean! Hurry!

Key facts

• All brick ranch
• Updated bathrooms
• Quiet backyard

Tags

• ALL BRICK RANCH
• HARDWOOD FLOORS
• UPDATED BATHROOMS
• PARTIALLY FINISHED BASEMENT
• WATERPROOFED BASEMENT
• QUIET BACKYARD

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Attached garage with 2 spaces
• Security:
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Built according to public records; Asphalt roof; Block foundation
• Exterior features: Brick exterior

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Flooring:
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full basement; Fixer condition
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (17.9% below list).
• Recommended offer: $181k (17.9% below list) — sets the bar for 1% rule.

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 (+10.6%/yr); 118 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 32% 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 $2k of loan paydown is wiped out by about $7k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 31y 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 $120k; list at $220k implies a 83% gain — meaningful room to come down on a strong offer.

Recommended offer $180,613 (17.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $229,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3023 Norris Ave	0.00mi	3/2.0	1,148 (0%)	1mo	$230,000	$200	95
3103 Norris Ave	0.01mi	3/2.0	1,148 (0%)	2mo	$231,100	$201	94
3310 Wales Ave	0.25mi	4/2.0 (+1)	1,155 (+1%)	1mo	$220,000	$190	77
4311 Longwood Ave	0.47mi	3/1.0	1,131 (-2%)	0mo	$210,000	$186	75
2821 Wales Ave	0.24mi	3/2.0	1,064 (-7%)	0mo	$260,000	$244	72
2906 Priscilla Ave	0.14mi	4/2.0 (+1)	1,244 (+8%)	0mo	$225,000	$181	71
3402 Wellington Ave	0.32mi	3/2.0	1,064 (-7%)	2mo	$205,000	$193	68
3406 Marioncliff Dr	0.58mi	3/2.0	1,140 (-1%)	2mo	$252,000	$221	66
4003 Woodrow Ave	0.38mi	3/2.0	1,224 (+7%)	1mo	$230,000	$188	66
2929 Commonwealth Dr	0.47mi	3/2.0	1,092 (-5%)	1mo	$225,000	$206	65
3716 Grantwood Dr	0.37mi	3/2.0	1,248 (+9%)	1mo	$235,000	$188	63
6180 Jamestown Dr	0.55mi	3/2.0	1,082 (-6%)	1mo	$299,000	$276	60

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: -13.9%
• Equity multiple: 0.48×
• Total profit: $-32,199
• Equity at exit: $32,788

10-year hold

• IRR: 1.4%
• Equity multiple: 1.12×
• Total profit: $7,617
• Equity at exit: $19,013

Cash invested: $61,572 (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: 118
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,806 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$278 /mo · $3,341/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $-96

Break-even live

Break-even rent $1,928

Max offer price $202,869

Occupancy floor —

Sensitivity live

Price	-10% $28	-5% $-34	+0% $-96	+5% $-159	+10% $-221
Rent	-10% $-239	-5% $-168	+0% $-96	+5% $-25	+10% $46
Rate	-1.0pp $14	-0.5pp $-40	base $-96	+0.5pp $-153	+1.0pp $-211

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	44d	1	0.75mi
3415 Center Dr Cleveland, OH	3.0	1.0	1048	$1,995	$1.90	2d	1	1.10mi
5080 Whispering Oaks BLVD Parma, OH	3.0	2.0	1332	$1,799	$1.35	13d	1	1.19mi
3027 Fortune Ave Unit 2 Parma, OH	2.0	1.0	726	$1,150	$1.58	44d	1	1.19mi
3027 Fortune Ave Unit 1 Parma, OH	2.0	1.0	880	$1,175	$1.34	44d	1	1.19mi
6188 Cabrini Ln Seven Hills, OH	3.0	2.0	1271	$2,095	$1.65	2d	1	1.20mi
2910 Fortune Ave Cleveland, OH	2.0	1.0	744	$1,775	$2.39	24d	1	1.22mi
3330 Fortune Ave Cleveland, OH	3.0	1.5	1258	$1,775	$1.41	44d	1	1.22mi
2611 Brookdale Ave Cleveland, OH	3.0	1.0	1092	$1,825	$1.67	44d	1	1.27mi
2716 Lincoln Ave Unit 1288912P Parma, OH	4.0	2.0	1205	$4,125	$3.42	8d	1	1.41mi
6505 Snow Rd Unit REAR Parma, OH	3.0	1.5	1312	$1,599	$1.22	8d	1	1.46mi

Listing history 9 events

1. 2026-04-30
   status Pending
2. 2026-04-23
   listed $219,900 Active
3. 2009-10-02
   soldstatus $120,000
4. 2009-10-01
   soldstatus $120,000 278-char remark

   Show marketing remark (278 chars)

   Turn the key and move in! Grandma and Grandpa took care of their home! Nice brick ranch! 2 car garage! Formal dining room with built in china cabinets! Hardwood floors! Finished basement with full bath! Blown in insulation! Furnace 2008! Exterior doors 2007! Super clean! Hurry!

5. 2009-08-14
   listed $124,900 278-char remark

   Show marketing remark (278 chars)

   Turn the key and move in! Grandma and Grandpa took care of their home! Nice brick ranch! 2 car garage! Formal dining room with built in china cabinets! Hardwood floors! Finished basement with full bath! Blown in insulation! Furnace 2008! Exterior doors 2007! Super clean! Hurry!

6. 1995-04-27
   soldstatus $95,000 163-char remark

   Show marketing remark (163 chars)

   All Replacement Windows & Furn 5 Yrs, Roof 2 Yrs, Gutters, Overhang & Gar. Siding 3 Yrs/Hardwood Flrs In Bdrm/China Cabs In Din Rm/Check List Available

7. 1995-04-27
   soldstatus $95,000

   Show marketing remark (163 chars)

   All Replacement Windows & Furn 5 Yrs, Roof 2 Yrs, Gutters, Overhang & Gar. Siding 3 Yrs/Hardwood Flrs In Bdrm/China Cabs In Din Rm/Check List Available

8. 1995-03-27
   listed $97,900 163-char remark

   Show marketing remark (163 chars)

   All Replacement Windows & Furn 5 Yrs, Roof 2 Yrs, Gutters, Overhang & Gar. Siding 3 Yrs/Hardwood Flrs In Bdrm/China Cabs In Din Rm/Check List Available

9. 1970-08-01
   soldstatus $32,300

ⓘ 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: $3,341 · $278/mo
• Projected year-2 tax: $3,386 · $282/mo
• Expected delta: +$45/yr (+$4/mo · 1.3%)

ⓘ 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 · 18 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: $21,674
• − Mortgage interest: −$12,318
• − Property taxes: −$3,341
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − Depreciation: −$6,397
• Taxable loss: −$4,950
• Est. tax savings @ 24.0%: +$1,188
• After-tax cash flow: $31/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

+580.8% since first listed

9 events — show timeline

• 2026-04-30 Pending — MLSNOW
• 2026-04-23 Listed $219,900 MLSNOW
• 2009-10-02 Sold (Public Records) $120,000 Public Records
• 2009-10-01 Sold (MLS) $120,000 MLSNOW
• 2009-08-14 Listed $124,900 MLSNOW
• 1995-04-27 Sold (Public Records) $95,000 Public Records
• 1995-04-27 Sold (MLS) $95,000 MLSNOW
• 1995-03-27 Listed $97,900 MLSNOW
• 1970-08-01 Sold (Public Records) $32,300 Public Records

Property tax history

+1.0%/yr

Latest (2025): $3,341 · -5.6% YoY. Source: county tax records.