26702 Lake Of The Falls Blvd · Olmsted Falls, OH 44138

$160,000

2 bd · 1.0 ba · 968 sqft · Condo public records · 10 Days on market

Built 1972 $263/mo HOA · 16% of rent

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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 +10.3/30.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• 1% rule +5.3/10.0
• Livability +3.7/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sharp well maintained 2 bedrm, 1 bath Ranch end unit with 1-car garage. This unit is a perfect place for downsizing. End snow shoveling & lawn mowing and enjoy your leisure time.

Key facts

• Eat in kitchen
• Serving opening
• One floor living

Tags

• ONE FLOOR LIVING
• EAT IN KITCHEN
• SERVING OPENING
• NEWER WALL TO WALL CARPETING
• CERAMIC TILE FLOORING
• TRANSFERABLE WARRANTY

Property features AI

Finance

• Financial info: Pets allowed (cats and dogs)
• HOA & community: Monthly association fee; Association fee covers management, insurance, grounds and structure maintenance, reserve fund, snow removal, and trash; Community features include common grounds/area and a playground

Exterior

• Parking: Attached garage; 1 garage space; Garage with garage door opener; Paved parking lot; Garage faces side; Outside parking available
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-story home; Entry level: 1; Faces west; Attached property
• Construction: Built (year per public records); Cedar construction; Asphalt/fiberglass roof; Concrete perimeter foundation and slab
• Exterior features: Front yard; Paved lot/driveway; Community pool; Private pool

Interior

• Kitchen: Range; Dishwasher; Disposal
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Eat-in kitchen; Window coverings; Updated/remodeled
• Laundry & utility: Washer hookup (inside, in hall, main level); Electric dryer hookup; Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (9.7% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $144k (9.7% below list) — sets the bar for cash-flow.
• Cap rate 5.6% 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 $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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $78k; list at $160k implies a 104% gain — meaningful room to come down on a strong offer.

Recommended offer $144,423 (9.7% 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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. 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: 5.63%
• Cash-on-cash: -2.36%
• DSCR: 0.89
• GRM: 8.1

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: -20.1%
• Equity multiple: 0.30×
• Total profit: $-31,345
• Equity at exit: $23,857

10-year hold

• IRR: -12.7%
• Equity multiple: 0.25×
• Total profit: $-33,723
• Equity at exit: $13,834

Cash invested: $44,800 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,644 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$218 /mo · $2,622/yr
• Insurance: −$67
• HOA: −$263
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-88

Break-even live

Break-even rent $1,756

Max offer price $144,423

Occupancy floor —

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9299 Columbia Rd Olmsted Falls, OH	1.0–2.0	1.0–1.5	782	$2,120	$2.71	2d	1	1.14mi
26875 Bagley Rd Olmsted Twp, OH	1.0–3.0	1.0–2.0	890	$1,199	$1.35	3d	1	1.22mi

HOA detail condo

• Monthly dues: $263 · $3,156/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-18
   days on market $160,000 Active 10 DOM
2. 2026-06-17
   price $160,000 Active 9 DOM
3. 2026-06-17
   days on market $165,000 Active 9 DOM
4. 2026-06-16
   days on market $165,000 Active 8 DOM
5. 2026-06-15
   days on market $165,000 Active 7 DOM
6. 2026-06-13
   days on market $165,000 Active 5 DOM
7. 2026-06-13
   days on market $165,000 Active 4 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-09
   listed $165,000 Active 1 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: $2,622 · $218/mo
• Projected year-2 tax: $2,622 · $218/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
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $19,732
• − Mortgage interest: −$8,962
• − Property taxes: −$2,622
• − Insurance: −$800
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − HOA: −$3,156
• − Depreciation: −$4,655
• Taxable loss: −$3,620
• Est. tax savings @ 24.0%: +$869
• After-tax cash flow: $-189/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

• Census place: Olmsted Falls, OH
• 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

+279.3% since first listed

11 events — show timeline

• 2026-06-08 Listed $165,000 MLSNOW
• 2018-10-01 Sold (MLS) $78,500 MLSNOW
• 2018-09-28 Sold (Public Records) $78,500 Public Records
• 2018-08-16 Pending — MLSNOW
• 2018-08-08 Contingent — MLSNOW
• 2018-08-01 Listed $76,000 MLSNOW
• 2007-04-24 Sold (Public Records) $79,000 Public Records
• 2007-04-24 Sold (MLS) $79,000 MLSNOW
• 2007-01-25 Listed $82,000 MLSNOW
• 1988-07-04 Sold (Public Records) $50,000 Public Records
• 1986-10-30 Sold (Public Records) $43,500 Public Records

Property tax history

+3.2%/yr

Latest (2025): $2,622 · -0.7% YoY. Source: county tax records.