49 Patio Ln · Olmsted Falls, OH 44138

$38,900

2 bd · 1.0 ba · 924 sqft · Manufactured · 72 Days on market

Built 1977

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

COLUMBIA Park IS A 55 AND OLDER CONCEPT OF LIVING and is Ohio’s Premier Adult Land Lease Community! Amenities Include: Gated entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! WELCOME HOME to this 1977 Pendelton Singlewide Manufactured Home offering 924 sqft (66 X 14) featuring 2 Bedrooms 1 Full Bath, Living Room and a large Eat-In Kitchen. There is also a Three Season Sunroom, step down, measuring 20 x 10 which gives you an additional 200 sqft of living space three seasons of the year. Current owner had all the floors removed, new subflooring installed and finished it off with Wooden Planks throughout the whole home. From the archives we found the following: Metal Roof replaced approximately 11 years ago, the HVAC System 9 years ago, and the hot water tank 11 years ago. There are also New Windows throughout the entire home, ages unknown. This home is located on a great street. There are no homes across the street, its heavily wooded with lots of wildlife. Home is being sold AS IS. Bring your Decorating Ideas and make this Home Sweet Home. Olmsted Township and Olmsted Falls are two very quaint suburbs sharing the same post office experiencing the exciting downtown where The Grand Pacific Junction is located for your entertainment -, shopping and fine dining. Columbia Park is close to highways and all types of shopping. SELLER IS VERY MOTIVATED !!!!

Key facts

• Dog walking path
• Bocce ball
• Gated entrance

Tags

• GATED ENTRANCE
• ON SITE SHOPPING PLAZA
• WALKING PATH
• DOG WALKING PATH
• SHUFFLEBOARD
• BOCCE BALL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $39k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $37k (6.0% below list) — sets the bar for market timing.
• Cap rate 32.3% vs local median 4.2% in Olmsted Falls — 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 73/100 on livability (#343 in OH) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Olmsted Falls City (suburban): math 70% / reading 70% proficiency, ranked #134 of 656 in OH (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 183 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $269 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $16k; list at $39k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,566 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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. 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.
8. 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.
9. 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: 3.62% ✓
• Cap rate: 32.34%
• Cash-on-cash: 93.03%
• DSCR: 5.14
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 86.2%
• Equity multiple: 4.98×
• Total profit: $43,305
• Equity at exit: $5,800

10-year hold

• IRR: 89.4%
• Equity multiple: 10.34×
• Total profit: $101,761
• Equity at exit: $3,363

Cash invested: $10,892 (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 44138

• Home prices YoY: -30.8%
• Active inventory: 183
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,409 medium
• Mortgage (P&I): −$204
• Tax est. 1.5%: −$49 /mo · $584/yr
• Insurance: −$16
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $778

Break-even live

Break-even rent $424

Max offer price $38,900

Occupancy floor 40%

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: $9,725
• Closing costs: $1,167
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26875 Bagley Rd Olmsted Twp, OH	1.0–3.0	1.0–2.0	890	$1,199	$1.35	2d	1	1.32mi
5785 Fitch Rd North Olmsted, OH	2.0	1.0	1080	$1,650	$1.53	43d	1	1.35mi

Listing history 15 events

1. 2026-03-12
   listed $38,900 Active 1472-char remark

   Show marketing remark (1472 chars)

   COLUMBIA Park IS A 55 AND OLDER CONCEPT OF LIVING and is Ohio’s Premier Adult Land Lease Community! Amenities Include: Gated entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! WELCOME HOME to this 1977 Pendelton Singlewide Manufactured Home offering 924 sqft (66 X 14) featuring 2 Bedrooms 1 Full Bath, Living Room and a large Eat-In Kitchen. There is also a Three Season Sunroom, step down, measuring 20 x 10 which gives you an additional 200 sqft of living space three seasons of the year. Current owner had all the floors removed, new subflooring installed and finished it off with Wooden Planks throughout the whole home. From the archives we found the following: Metal Roof replaced approximately 11 years ago, the HVAC System 9 years ago, and the hot water tank 11 years ago. There are also New Windows throughout the entire home, ages unknown. This home is located on a great street. There are no homes across the street, its heavily wooded with lots of wildlife. Home is being sold AS IS. Bring your Decorating Ideas and make this Home Sweet Home. Olmsted Township and Olmsted Falls are two very quaint suburbs sharing the same post office experiencing the exciting downtown where The Grand Pacific Junction is located for your entertainment -, shopping and fine dining. Columbia Park is close to highways and all types of shopping. SELLER IS VERY MOTIVATED !!!!

2. 2023-11-13
   soldstatus $16,000 Closed 974-char remark

   Show marketing remark (974 chars)

   COLUMBIA PARK IS A 55 YEAR AND OLDER CONCEPT OF LIVING and is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! WELCOME HOME to this 1977 Pendleton single wide manufactured home. This home is 980 sqft and features 2 bedrooms, 1 bath, formal living and dining rooms, kitchen with newer appliances and utility space. There is also a patio enclosure which offers an additional 200 sqft of living space. Other recent upgrades include: Roof approximately 8 years old, Furnace and A/C replaced 6 years ago. Hot water tank 8 years or newer and all newer windows, ages unknown. Home is being sold As Is. .. .. Most of the glass in the enclosure needs to be replaced. This move in ready home is a blank canvas waiting for you to make it your own oasis! Priced to sell fast, schedule a tour before it's gone!

3. 2023-10-25
   status Pending 974-char remark

   Show marketing remark (974 chars)

   COLUMBIA PARK IS A 55 YEAR AND OLDER CONCEPT OF LIVING and is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! WELCOME HOME to this 1977 Pendleton single wide manufactured home. This home is 980 sqft and features 2 bedrooms, 1 bath, formal living and dining rooms, kitchen with newer appliances and utility space. There is also a patio enclosure which offers an additional 200 sqft of living space. Other recent upgrades include: Roof approximately 8 years old, Furnace and A/C replaced 6 years ago. Hot water tank 8 years or newer and all newer windows, ages unknown. Home is being sold As Is. .. .. Most of the glass in the enclosure needs to be replaced. This move in ready home is a blank canvas waiting for you to make it your own oasis! Priced to sell fast, schedule a tour before it's gone!

4. 2023-10-09
   price $17,500 974-char remark

   Show marketing remark (974 chars)

   COLUMBIA PARK IS A 55 YEAR AND OLDER CONCEPT OF LIVING and is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! WELCOME HOME to this 1977 Pendleton single wide manufactured home. This home is 980 sqft and features 2 bedrooms, 1 bath, formal living and dining rooms, kitchen with newer appliances and utility space. There is also a patio enclosure which offers an additional 200 sqft of living space. Other recent upgrades include: Roof approximately 8 years old, Furnace and A/C replaced 6 years ago. Hot water tank 8 years or newer and all newer windows, ages unknown. Home is being sold As Is. .. .. Most of the glass in the enclosure needs to be replaced. This move in ready home is a blank canvas waiting for you to make it your own oasis! Priced to sell fast, schedule a tour before it's gone!

5. 2023-10-07
   price $19,900 974-char remark

   Show marketing remark (974 chars)

   COLUMBIA PARK IS A 55 YEAR AND OLDER CONCEPT OF LIVING and is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! WELCOME HOME to this 1977 Pendleton single wide manufactured home. This home is 980 sqft and features 2 bedrooms, 1 bath, formal living and dining rooms, kitchen with newer appliances and utility space. There is also a patio enclosure which offers an additional 200 sqft of living space. Other recent upgrades include: Roof approximately 8 years old, Furnace and A/C replaced 6 years ago. Hot water tank 8 years or newer and all newer windows, ages unknown. Home is being sold As Is. .. .. Most of the glass in the enclosure needs to be replaced. This move in ready home is a blank canvas waiting for you to make it your own oasis! Priced to sell fast, schedule a tour before it's gone!

6. 2023-09-28
   listed $24,000 Active 974-char remark

   Show marketing remark (974 chars)

   COLUMBIA PARK IS A 55 YEAR AND OLDER CONCEPT OF LIVING and is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! WELCOME HOME to this 1977 Pendleton single wide manufactured home. This home is 980 sqft and features 2 bedrooms, 1 bath, formal living and dining rooms, kitchen with newer appliances and utility space. There is also a patio enclosure which offers an additional 200 sqft of living space. Other recent upgrades include: Roof approximately 8 years old, Furnace and A/C replaced 6 years ago. Hot water tank 8 years or newer and all newer windows, ages unknown. Home is being sold As Is. .. .. Most of the glass in the enclosure needs to be replaced. This move in ready home is a blank canvas waiting for you to make it your own oasis! Priced to sell fast, schedule a tour before it's gone!

7. 2022-08-22
   soldstatus $19,900 Closed
8. 2022-08-10
   status Pending
9. 2022-08-03
   historical Contingent
10. 2022-07-21
    listed $19,900 Active
11. 2015-07-31
    historical
12. 2015-06-02
    listed $7,500 Active
13. 2015-05-19
    historical
14. 2015-04-06
    price $7,500
15. 2015-03-04
    listed $10,000 Active

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,910
• − Mortgage interest: −$2,179
• − Property taxes: −$584
• − Insurance: −$992
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$1,132
• Taxable income: $9,318
• Est. tax owed @ 24.0%: −$2,236
• After-tax cash flow: $7,099/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: Olmsted Falls City
• NCES district ID: 3904657
• Math proficiency: 70% ▼ -14.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $68,307
• Composite: 61.12/100
• National rank: #787
• State rank: #134 of 656 in OH

Livability — Olmsted Falls

• Score: 73/100
• State rank: #343
• US rank: #5595

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cuyahoga · 1,045,444 people
• Metro: Cleveland, OH
• Population (ZIP): 23,129
• Household income: $93,877
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 7.6

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% Hispanic / Latino 9% Two or more races 6% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada, Jamaica, China
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Arabic 1%

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: ▼ -89.76%
• Current HPI: 201.9716
• Rent YoY: —
• Metro: —
• 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

+289.0% since first listed

15 events — show timeline

• 2026-03-12 Listed $38,900 MLSNOW
• 2023-11-13 Sold (MLS) $16,000 MLSNOW
• 2023-10-25 Pending — MLSNOW
• 2023-10-09 Price Changed $17,500 MLSNOW
• 2023-10-07 Price Changed $19,900 MLSNOW
• 2023-09-28 Listed $24,000 MLSNOW
• 2022-08-22 Sold (MLS) $19,900 MLSNOW
• 2022-08-10 Pending — MLSNOW
• 2022-08-03 Contingent — MLSNOW
• 2022-07-21 Listed $19,900 MLSNOW
• 2015-07-31 Listing Removed — MLSNOW
• 2015-06-02 Listed $7,500 MLSNOW
• 2015-05-19 Listing Removed — MLSNOW
• 2015-04-06 Price Changed $7,500 MLSNOW
• 2015-03-04 Listed $10,000 MLSNOW