Boardwalk Plan · North Olmsted, OH 44138

$442,990

4 bd · 2.5 ba · 2,624 sqft · SingleFamily · 956 Days on market

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.3/30.0
• Schools +6.1/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

Key facts

• 2 garage spots
• Listed 956 days

🏗️ New construction. The $442,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $495,552.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $443k.

Deal economics

• At list price, monthly cash flow is $-660 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $400k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (21.0% below list).
• Recommended offer: $350k (21.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 86/100 on livability (#38 in OH, #372 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute 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.
• Zoned schools: Falls-Lenox Primary Elementary School (math 71% / reading 73%, grade A-, #323 of 1,584 statewide, top 23%, 738 students, 15% FRL); Olmsted Falls Middle School (math 66% / reading 64%, grade A-, #194 of 654 statewide, top 31%, 811 students, 14% FRL); Olmsted Falls High School (math 60% / reading 73%, grade B, #150 of 781 statewide, top 20%, 1,250 students, 12% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 184 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 45% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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 956 days — a 12% lower offer ($390k) is reasonable based on typical stale-listing flexibility.

Recommended offer $350,000 (21.0% 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 956 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.71% ✗
• Cap rate: 4.70%
• Cash-on-cash: -5.70%
• DSCR: 0.75
• GRM: 11.8

CMA / ARV

• ARV (median comp): $495,552
• List price: $442,990
• Delta: -10.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26847 John Rd	0.26mi	4/2.5	2,509 (-4%)	6mo	$350,000	$139	75
26548 Daisy Ln	0.03mi	4/2.5	2,390 (-9%)	17mo	$465,000	$195	70
6514 Daisy Ln	0.05mi	3/2.5 (-1)	2,880 (+10%)	19mo	$475,000	$165	61
6073 Sandpiper Ln	0.56mi	4/2.5	2,508 (-4%)	7mo	$430,000	$171	60
26938 Tall Oaks Trl	0.71mi	4/2.5	2,635 (+0%)	10mo	$445,000	$169	58
6144 Bellevue Dr	0.65mi	3/2.5 (-1)	2,704 (+3%)	2mo	$370,000	$137	57
6095 Sandpiper Ln	0.54mi	4/3.5	2,744 (+5%)	10mo	$531,100	$194	55
26934 Tall Oaks Trl	0.69mi	4/2.5	2,635 (+0%)	18mo	$335,000	$127	52
6190 Fitch Rd	0.50mi	4/2.5	2,272 (-13%)	11mo	$375,000	$165	45
26946 Adele Ln	0.57mi	4/3.0	2,319 (-12%)	10mo	$391,700	$169	44
26939 Greenbrooke Dr	0.64mi	4/2.5	2,256 (-14%)	15mo	$345,000	$153	34
6194 Paisley Dr	0.55mi	5/3.0 (+1)	2,272 (-13%)	19mo	$298,000	$131	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -26.1%
• Equity multiple: 0.12×
• Total profit: $-122,261
• Equity at exit: $73,888

10-year hold

• IRR: -22.8%
• Equity multiple: -0.16×
• Total profit: $-160,347
• Equity at exit: $42,846

Cash invested: $138,755 (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: 184
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$2,599
• Tax est. 1.5%: −$619 /mo · $7,433/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $-660

Break-even live

Break-even rent $4,335

Max offer price $400,100

Occupancy floor —

Sensitivity live

Price	-10% $-317	-5% $-488	+0% $-660	+5% $-831	+10% $-1,002
Rent	-10% $-936	-5% $-798	+0% $-660	+5% $-521	+10% $-383
Rate	-1.0pp $-410	-0.5pp $-534	base $-660	+0.5pp $-788	+1.0pp $-919

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: $123,888
• Closing costs: $14,867
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5334 Sunset Oval North Olmsted, OH	4.0	2.5	1924	$3,500	$1.82	45d	1	1.43mi

Listing history 25 events

1. 2026-06-21
   days on market $442,990 Active 956 DOM
2. 2026-06-18
   days on market $442,990 Active 953 DOM
3. 2026-06-17
   days on market $442,990 Active 952 DOM
4. 2026-06-16
   days on market $442,990 Active 951 DOM
5. 2026-06-15
   days on market $442,990 Active 950 DOM
6. 2026-06-13
   days on market $442,990 Active 948 DOM
7. 2026-06-13
   days on market $442,990 Active 947 DOM
8. 2026-06-09
   days on market $442,990 Active 944 DOM
9. 2026-06-08
   days on market $442,990 Active 943 DOM
10. 2026-06-07
    days on market $442,990 Active 942 DOM
11. 2026-06-03
    days on market $442,990 Active 938 DOM
12. 2026-06-02
    days on market $442,990 Active 937 DOM
13. 2026-06-01
    days on market $442,990 Active 936 DOM
14. 2026-05-31
    days on market $442,990 Active 935 DOM
15. 2026-05-08
    price $442,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

16. 2025-11-05
    price $439,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

17. 2025-08-17
    price $436,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

18. 2025-05-03
    price $454,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

19. 2025-01-19
    price $447,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

20. 2024-12-04
    price $443,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

21. 2024-08-03
    price $438,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

22. 2024-04-03
    price $433,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

23. 2024-03-20
    price $430,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

24. 2024-02-04
    price $428,990 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

25. 2023-11-08
    listed $425,990 Active 380-char remark

    Show marketing remark (380 chars)

    The Boardwalk meets the needs of families for years to come. A home office, craft room, or guest suite is possible on the first floor, thanks to the flex room. Upstairs, families can enjoy a large loft or opt for another bedroom (beyond the existing three and Owner's Suite). There's lots of room in Boardwalk - even at mealtime, in the open kitchen and inviting café area.

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

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$27,759
• − Property taxes: −$7,433
• − Insurance: −$2,478
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$14,416
• Taxable loss: −$16,806
• Est. tax savings @ 24.0%: +$4,033
• After-tax cash flow: $-3,882/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 — North Olmsted

• Score: 86/100
• State rank: #38
• US rank: #372

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cuyahoga · 1,045,444 people
• City population: 31,924
• 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

+4.0% since first listed

11 events — show timeline

• 2026-05-08 Price Changed $442,990 Zillow
• 2025-11-05 Price Changed $439,990 Zillow
• 2025-08-17 Price Changed $436,990 Zillow
• 2025-05-03 Price Changed $454,990 Zillow
• 2025-01-19 Price Changed $447,990 Zillow
• 2024-12-04 Price Changed $443,990 Zillow
• 2024-08-03 Price Changed $438,990 Zillow
• 2024-04-03 Price Changed $433,990 Zillow
• 2024-03-20 Price Changed $430,990 Zillow
• 2024-02-04 Price Changed $428,990 Zillow
• 2023-11-08 Listed $425,990 Zillow