6237 Chestnut Hills Dr · Parma, OH 44129

$195,000

4 bd · 1.5 ba · 1,398 sqft · SingleFamily public records · 8 Days on market

Built 1953 5,671 sqft lot Est $239k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.9/10.0
• DSCR +3.7/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Solid Brick Bungalow!! Needs Updating!! Location-Location!! In The Heart Of Parma Circle!! Four Bedrooms!! Two Full Baths!! Front Porch!! Dormer Bedroom Up!! Home Being Sold AS IS!! Priced To Sell!!

Key facts

• Brick bungalow
• Front porch
• Dormer bedroom up

Tags

• BRICK BUNGALOW
• HEART OF PARMA CIRCLE
• FRONT PORCH
• DORMER BEDROOM UP

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Brick construction; Asphalt/fiberglass roof; Block foundation; Single-family property
• Construction: Brick exterior; Asphalt/fiberglass roof; Block foundation
• Exterior features: Front porch

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 2 full bathrooms (1 on main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Insulated windows; Full basement
• Laundry & utility: Washer and dryer in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-26 ($-315/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (10.6% below list).
• Recommended offer: $174k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 5.0% in Parma — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 17 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 $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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,351 (10.6% 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 1953 — 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: 0.89% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $239,058
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8208 Wainstead Dr	0.34mi	4/3.0	1,357 (-3%)	1mo	$299,900	$221	72
7503 Whittington Dr	0.31mi	3/2.0 (-1)	1,344 (-4%)	0mo	$265,000	$197	72
5706 Brownfield Dr	0.59mi	4/1.5	1,418 (+1%)	1mo	$200,000	$141	69
7907 Renwood Dr	0.32mi	3/1.0 (-1)	1,278 (-9%)	0mo	$217,500	$170	64
6494 S Canterbury Rd	0.53mi	3/2.0 (-1)	1,431 (+2%)	2mo	$182,000	$127	63
6010 Allanwood Dr	0.60mi	3/1.5 (-1)	1,297 (-7%)	1mo	$222,000	$171	54
8318 Lanyard Dr	0.43mi	3/2.0 (-1)	1,219 (-13%)	1mo	$265,000	$217	51
5926 Deering Ave	0.74mi	3/1.0 (-1)	1,278 (-9%)	0mo	$217,500	$170	44
7111 Hampstead Ave	0.51mi	3/2.5 (-1)	1,598 (+14%)	1mo	$250,000	$156	43
5803 Renwood Dr	0.54mi	3/1.0 (-1)	1,188 (-15%)	1mo	$251,000	$211	42
6293 Brookmere Dr	0.68mi	3/1.5 (-1)	1,580 (+13%)	0mo	$255,000	$161	41
6329 Nelwood Rd	0.63mi	3/1.0 (-1)	1,218 (-13%)	2mo	$215,000	$177	41

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: -15.7%
• Equity multiple: 0.43×
• Total profit: $-30,918
• Equity at exit: $29,075

10-year hold

• IRR: -5.1%
• Equity multiple: 0.65×
• Total profit: $-19,173
• 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 44129

• Rents YoY: 4.3%
• Active inventory: 85
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$300 /mo · $3,597/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-26

Break-even live

Break-even rent $1,777

Max offer price $190,363

Occupancy floor 97%

Sensitivity live

Price	-10% $84	-5% $29	+0% $-26	+5% $-81	+10% $-137
Rent	-10% $-164	-5% $-95	+0% $-26	+5% $43	+10% $111
Rate	-1.0pp $72	-0.5pp $23	base $-26	+0.5pp $-77	+1.0pp $-128

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 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7903 Ackley Rd Unit 7903 Parma, OH	3.0	1.0	1100	$1,600	$1.45	44d	1	0.25mi
7906 Lanyard Dr Unit 1496071P Parma, OH	4.0	1.5	1227	$5,834	$4.75	8d	1	0.27mi
6236 Westminster Dr Cleveland, OH	3.0	1.0	1131	$1,700	$1.50	15d	1	0.48mi
7514 Bertha Ave Cleveland, OH	5.0	2.0	1672	$1,776	$1.06	2d	1	0.65mi
8310 Salisbury Dr Cleveland, OH	3.0	2.0	1088	$1,950	$1.79	8d	1	0.65mi
6505 Snow Rd Unit REAR Parma, OH	3.0	1.5	1312	$1,599	$1.22	8d	1	0.79mi
9474 Roxbury Rd Cleveland, OH	3.0	2.0	1050	$1,850	$1.76	4d	1	0.84mi
9474 Roxbury Rd Cleveland, OH	3.0	2.0	1050	$2,000	$1.90	24d	1	0.84mi
5876 Wickfield Dr Cleveland, OH	5.0	2.0	1316	$1,900	$1.44	2d	1	0.95mi
6841 Day Dr Cleveland, OH	1.0–3.0	1.0–1.5	862	$1,525	$1.77	2d	5	0.99mi
5080 Whispering Oaks BLVD Parma, OH	3.0	2.0	1332	$1,799	$1.35	13d	1	1.13mi
9703 Snow Rd Cleveland, OH	3.0	1.0	1103	$1,675	$1.52	3d	1	1.18mi
9235 N Church Dr Cleveland, OH	1.0–3.0	1.0–2.0	814	$1,540	$1.89	3d	63	1.20mi
4191 W Ridgewood Dr Unit 4193 Parma, OH	4.0	3.0	1800	$1,950	$1.08	44d	1	1.27mi
8326 Fernhill Ave Cleveland, OH	3.0	1.0	1350	$1,700	$1.26	44d	1	1.30mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	8d	1	1.45mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	5d	1	1.45mi

Listing history 7 events

1. 2026-06-18
   days on market $195,000 Active 8 DOM
2. 2026-06-17
   days on market $195,000 Active 7 DOM
3. 2026-06-16
   days on market $195,000 Active 6 DOM
4. 2026-06-15
   days on market $195,000 Active 5 DOM
5. 2026-06-13
   days on market $195,000 Active 3 DOM
6. 2026-06-13
   remarks 198-char remark
7. 2026-06-13
   listed $195,000 Active 2 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: $3,597 · $300/mo
• Projected year-2 tax: $3,597 · $300/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: $20,922
• − Mortgage interest: −$10,923
• − Property taxes: −$3,597
• − Insurance: −$975
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − Depreciation: −$5,673
• Taxable loss: −$3,593
• Est. tax savings @ 24.0%: +$862
• After-tax cash flow: $547/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

1 event — show timeline

• 2026-06-10 Listed $195,000 MLSNOW

Property tax history

+3.9%/yr

Latest (2025): $3,597 · -5.5% YoY. Source: county tax records.