5545 Sunset Bldg A 5 Ln Unit B · Parma, OH 44134

$153,900

2 bd · 2.5 ba · 990 sqft · Condo · 52 Days on market

Built 1989 Average condition $155/sqft · at area comps Est $156k · at est. $278/mo HOA · 17% of rent ↓ 7% since listing

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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 +10.2/30.0
• ARV discount +8.0/15.0
• 1% rule +5.3/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• DSCR +2.9/10.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Nice 2 Bedroom 2.5 Bath Condo With Partially Finished Basement, Large Great Room, Safe Step Walk-In Bathtub. 80X100 Community Pool! Amish Built Deck In 2024. Excellent Location Close To Restaurants & Shopping. Ready To Move In. This Won't Last!!

Key facts

• Community pool
• Excellent location
• $278 HOA

Tags

• PARTIALLY FINISHED BASEMENT
• COMMUNITY POOL
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $154k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (8.1% below list).
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $141k (8.1% below list) — sets the bar for cash-flow.

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); Normandy High School (math 49% / reading 67%, grade C, #270 of 781 statewide, top 35%, 1,304 students, 39% FRL).
• Market conditions: Rents rising fast (+10.6%/yr); 120 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 52 days — a 3% lower offer ($149k) is reasonable based on typical stale-listing flexibility.

Recommended offer $141,426 (8.1% 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. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 5.62%
• Cash-on-cash: -2.40%
• DSCR: 0.89
• GRM: 8.1

CMA / ARV

• ARV (median comp): $155,527
• List price: $153,900
• Delta: -1.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.49×
• Total profit: $-21,836
• Equity at exit: $22,947

10-year hold

• IRR: 3.3%
• Equity multiple: 1.30×
• Total profit: $12,930
• Equity at exit: $13,306

Cash invested: $43,092 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,589 high
• Mortgage (P&I): −$807
• Tax est. 1.5%: −$192 /mo · $2,308/yr
• Insurance: −$64
• HOA: −$278
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $-86

Break-even live

Break-even rent $1,698

Max offer price $141,426

Occupancy floor —

Sensitivity live

Price	-10% $20	-5% $-33	+0% $-86	+5% $-139	+10% $-193
Rent	-10% $-212	-5% $-149	+0% $-86	+5% $-23	+10% $39
Rate	-1.0pp $-9	-0.5pp $-47	base $-86	+0.5pp $-126	+1.0pp $-167

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: $38,475
• Closing costs: $4,617
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	0.69mi
2910 Fortune Ave Cleveland, OH	2.0	1.0	744	$1,775	$2.39	26d	1	0.82mi
3027 Fortune Ave Unit 2 Parma, OH	2.0	1.0	726	$1,075	$1.48	0d	1	0.91mi
3027 Fortune Ave Unit 1 Parma, OH	2.0	1.0	880	$1,175	$1.34	46d	1	0.91mi
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	46d	1	0.96mi

HOA detail condo

• Monthly dues: $278 · $3,336/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-22
   days on market $153,900 Active 52 DOM
2. 2026-06-21
   days on market $153,900 Active 51 DOM
3. 2026-06-18
   price $153,900 Active 48 DOM
4. 2026-06-18
   days on market $159,000 Active 48 DOM
5. 2026-06-17
   days on market $159,000 Active 47 DOM
6. 2026-06-16
   days on market $159,000 Active 46 DOM
7. 2026-06-15
   days on market $159,000 Active 45 DOM
8. 2026-06-13
   days on market $159,000 Active 43 DOM
9. 2026-06-13
   days on market $159,000 Active 42 DOM
10. 2026-06-09
    days on market $159,000 Active 39 DOM
11. 2026-06-08
    days on market $159,000 Active 38 DOM
12. 2026-06-07
    days on market $159,000 Active 37 DOM
13. 2026-06-05
    days on market $159,000 Active 34 DOM
14. 2026-06-03
    days on market $159,000 Active 33 DOM
15. 2026-06-02
    days on market $159,000 Active 32 DOM
16. 2026-06-01
    days on market $159,000 Active 31 DOM
17. 2026-05-31
    days on market $159,000 Active 30 DOM
18. 2026-05-01
    listed $165,900 Active 252-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $19,069
• − Mortgage interest: −$8,621
• − Property taxes: −$2,308
• − Insurance: −$770
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − HOA: −$3,336
• − Depreciation: −$4,477
• Taxable loss: −$3,494
• Est. tax savings @ 24.0%: +$839
• After-tax cash flow: $-196/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This townhouse is in average condition with some cosmetic repairs needed. It's move-in ready with a good location and community amenities.

Repairs flagged

• Minor exterior siding — Some discoloration
• Minor kitchen cabinets — Worn appearance
• Minor bathroom cabinets — Worn appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet in living areas — New carpet improves comfort and appearance
• Both Replace kitchen cabinets — New cabinets modernize the kitchen and increase value
• Both Replace bathroom cabinets — New cabinets modernize the bathrooms and increase value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Some discoloration	Minor	$500–3,000
kitchen cabinets · Worn appearance	Minor	$500–3,000
bathroom cabinets · Worn appearance	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet in living areas — New carpet improves comfort and appearance ↑
• Both Replace kitchen cabinets — New cabinets modernize the kitchen and increase value ↑
• Both Replace bathroom cabinets — New cabinets modernize the bathrooms and increase value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-7.2% since first listed

3 events — show timeline

• 2026-06-18 Price Changed $153,900 MLSNOW
• 2026-05-29 Price Changed $159,000 MLSNOW
• 2026-05-01 Listed $165,900 MLSNOW