2303 Tuxedo Ave · Parma, OH 44134

$195,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 27 Days on market

Built 1952 5,880 sqft lot $218/sqft · 8% below area Est $212k · 8% 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).

• Cash flow +13.5/30.0
• ARV discount +11.1/15.0
• Rent growth +5.0/5.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Not Bank Owned * * * 2nd Floor has large expansion area for 3rd bedroom * * * Updated Furnace and Central Air/Electrical Box * * * Good size Backyard * * * easy to show!!

Key facts

• Updated pex plumbing
• Renovated kitchen
• Newer entry doors

Tags

• WELL MAINTAINED BUNGALOW
• RENOVATED KITCHEN
• UPDATED LIGHT FIXTURES
• WAINSCOTING PANELING
• NEWER ENTRY DOORS
• UPDATED PEX PLUMBING

Property features AI

Exterior

• Parking: Detached 1-car garage; Driveway parking
• Utilities: Public water; Public sewer
• Home design: Two-story home; Aluminum and vinyl siding; Asphalt/fiberglass roof
• Construction: Built (year per public records); Aluminum siding; Vinyl siding; Asphalt/Fiberglass roof
• Exterior features: Driveway; Detached garage

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, partially finished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $8 ($95/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (12.1% below list).
• Recommended offer: $171k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: John Muir Elementary School (math 37% / reading 32%, grade F, #1,113 of 1,584 statewide, top 71%, 352 students, 63% FRL); Hillside Middle School (math 63% / reading 67%, grade A-, #194 of 654 statewide, top 31%, 539 students, 44% FRL); Parma High School (math 32% / reading 47%, grade F, #528 of 781 statewide, top 71%, 1,233 students, 55% FRL).
• Market conditions: Rents rising fast (+10.6%/yr); 120 active listings in the ZIP; 10 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).

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

• It's been on market 27 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $74k; list at $195k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,475 (12.1% below list)

Questions for the listing agent

1. Built in 1952 — 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. 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?
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: 0.88% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.17%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $211,706
• List price: $195,000
• Delta: -7.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2129 North Ave	0.10mi	2/1.0	919 (+3%)	7mo	$175,000	$190	85
2819 Lincoln Ave	0.33mi	3/2.0 (+1)	910 (+2%)	2mo	$240,000	$264	72
2222 Brookview Blvd	0.17mi	2/1.0	980 (+9%)	10mo	$158,000	$161	68
2220 Grovewood Ave	0.18mi	2/1.0	844 (-6%)	19mo	$185,000	$219	66
2619 Fortune Ave	0.40mi	3/1.5 (+1)	978 (+9%)	0mo	$200,000	$204	59
2804 Russell Ave	0.27mi	3/1.0 (+1)	996 (+11%)	8mo	$200,000	$201	57
1807 Grovewood Ave	0.32mi	3/2.0 (+1)	1,005 (+12%)	10mo	$214,200	$213	48
2922 Grovewood Ave	0.40mi	3/1.0 (+1)	1,030 (+15%)	5mo	$220,000	$214	47
1700 Brookdale Ave	0.38mi	3/1.5 (+1)	1,006 (+12%)	11mo	$225,000	$224	46
2923 Grovewood Ave	0.42mi	3/1.0 (+1)	978 (+9%)	20mo	$159,000	$163	44
3714 Russell Ave	0.74mi	3/1.5 (+1)	988 (+10%)	7mo	$184,000	$186	35
3406 Lincoln Ave	0.59mi	2/2.0	1,030 (+15%)	20mo	$176,600	$171	27

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: -10.6%
• Equity multiple: 0.60×
• Total profit: $-22,004
• Equity at exit: $29,075

10-year hold

• IRR: 4.7%
• Equity multiple: 1.42×
• Total profit: $22,840
• 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: 9.5×

Monthly cashflow live

• Estimated rent: $1,715 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$243 /mo · $2,914/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $8

Break-even live

Break-even rent $1,705

Max offer price $195,000

Occupancy floor 95%

Sensitivity live

Price	-10% $118	-5% $63	+0% $8	+5% $-47	+10% $-102
Rent	-10% $-128	-5% $-60	+0% $8	+5% $76	+10% $143
Rate	-1.0pp $106	-0.5pp $58	base $8	+0.5pp $-43	+1.0pp $-94

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 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2611 Brookdale Ave Cleveland, OH	3.0	1.0	1092	$1,825	$1.67	46d	1	0.34mi
2910 Fortune Ave Cleveland, OH	2.0	1.0	744	$1,775	$2.39	25d	1	0.47mi
3027 Fortune Ave Unit 2 Parma, OH	2.0	1.0	726	$1,075	$1.48	0d	1	0.55mi
3027 Fortune Ave Unit 1 Parma, OH	2.0	1.0	880	$1,175	$1.34	46d	1	0.55mi
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	46d	1	0.85mi
5252 W 45th St Unit 1496134P Parma, OH	3.0	2.0	1065	$3,258	$3.06	0d	1	1.02mi
4520 Kenmore Ave Cleveland, OH	2.0	1.0	726	$1,520	$2.09	0d	1	1.17mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	946	$1,300	$1.37	6d	1	1.36mi
5406 Merkle Ave Cleveland, OH	2.0	1.0	958	$1,300	$1.36	9d	1	1.36mi
1817 Mayview Ave Unit 1496054P Cleveland, OH	2.0	1.0	1065	$3,551	$3.33	9d	1	1.48mi

Listing history 20 events

1. 2026-06-13
   statusdays on market $195,000 Pending 27 DOM
2. 2026-06-09
   days on market $195,000 Active 26 DOM
3. 2026-06-08
   days on market $195,000 Active 25 DOM
4. 2026-06-07
   days on market $195,000 Active 24 DOM
5. 2026-06-05
   days on market $195,000 Active 21 DOM
6. 2026-06-03
   days on market $195,000 Active 20 DOM
7. 2026-06-02
   days on market $195,000 Active 19 DOM
8. 2026-06-01
   days on market $195,000 Active 18 DOM
9. 2026-05-31
   days on market $195,000 Active 17 DOM
10. 2026-05-14
    listed $195,000 Active 1483-char remark
11. 2026-05-05
    historical
12. 2026-04-16
    price $198,000
13. 2026-03-13
    price $199,900
14. 2026-02-26
    price $220,000
15. 2026-01-30
    listed $225,000 Active
16. 2009-03-02
    soldstatus $73,500

    Show marketing remark (178 chars)

    Not Bank Owned * * * 2nd Floor has large expansion area for 3rd bedroom * * * Updated Furnace and Central Air/Electrical Box * * * Good size Backyard * * * easy to show!!

17. 2009-03-02
    soldstatus $73,500

    Show marketing remark (178 chars)

    Not Bank Owned * * * 2nd Floor has large expansion area for 3rd bedroom * * * Updated Furnace and Central Air/Electrical Box * * * Good size Backyard * * * easy to show!!

18. 2009-01-30
    listed $69,900

    Show marketing remark (178 chars)

    Not Bank Owned * * * 2nd Floor has large expansion area for 3rd bedroom * * * Updated Furnace and Central Air/Electrical Box * * * Good size Backyard * * * easy to show!!

19. 2009-01-24
    historical
20. 2008-10-13
    listed $72,900

ⓘ 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: $2,914 · $243/mo
• Projected year-2 tax: $2,978 · $248/mo
• Expected delta: +$64/yr (+$5/mo · 2.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% 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: $20,577
• − Mortgage interest: −$10,923
• − Property taxes: −$2,914
• − Insurance: −$975
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − Depreciation: −$5,673
• Taxable loss: −$3,200
• Est. tax savings @ 24.0%: +$768
• After-tax cash flow: $864/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

+167.5% since first listed

12 events — show timeline

• 2026-06-10 Pending — MLSNOW
• 2026-05-14 Listed $195,000 MLSNOW
• 2026-05-05 Listing Removed — MLSNOW
• 2026-04-16 Price Changed $198,000 MLSNOW
• 2026-03-13 Price Changed $199,900 MLSNOW
• 2026-02-26 Price Changed $220,000 MLSNOW
• 2026-01-30 Listed $225,000 MLSNOW
• 2009-03-02 Sold (Public Records) $73,500 Public Records
• 2009-03-02 Sold (MLS) $73,500 MLSNOW
• 2009-01-30 Listed $69,900 MLSNOW
• 2009-01-24 Listing Removed — MLSNOW
• 2008-10-13 Listed $72,900 MLSNOW

Property tax history

+11.5%/yr

Latest (2025): $2,914 · +17.9% YoY. Source: county tax records.