28449 Pike Dr · Orange, OH 44022

$500,000

4 bd · 2.5 ba · 2,240 sqft · SingleFamily public records · 1 Days on market

Built 1948 2.00 ac lot Est $399k · 25% over

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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
• Schools +7.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

Key facts

• Rich wood cabinetry
• Stone fireplace
• Back deck

Tags

• EXPANSIVE UPDATED WINDOWS
• STONE FIREPLACE
• CORNER BUILT-IN
• RICH WOOD CABINETRY
• STAINLESS-STEEL APPLIANCES
• BACK DECK

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Paved driveway; Garage has electricity
• Security: Smoke detectors
• Utilities: Well water; Septic tank
• Home design: Two-story home; Home warranty included
• Construction: Aluminum siding; Asphalt/fiberglass roof
• Exterior features: Deck; Pond on the lot; Many trees / Wooded; Property has a view

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Water softener
• Bedrooms: One main-level bedroom; Additional upstairs bedroom (approx. 13 x 11)
• Bathrooms: Three full bathrooms; One main-level bathroom
• Heating & cooling: Forced air heating (gas); Fireplace heating; Central air conditioning
• Interior features: Finished full basement with walk-out access; Two fireplaces

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $500k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $500k).
• Cap rate 12.5% vs local median 1.2% in Orange — 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 70/100 on livability (#452 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, health & safety D, amenities F.
• Orange City (suburban): math 76% / reading 83% proficiency, ranked #32 of 656 in OH (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: 124 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $7,585/mo this rent would consume 60% of the median local household income ($152k/yr) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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 $360k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $500,000

Questions for the listing agent

1. Built in 1948 — 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. 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.
4. 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.
5. 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: 1.52% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.03%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $398,720
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28449 Pike Dr	0.00mi	4/3.0	2,240 (0%)	0mo	$525,000	$234	98
4290 Brainard Rd	0.72mi	4/2.0	2,139 (-4%)	2mo	$438,000	$205	55
516 Crystal Lake Dr	0.28mi	3/3.5 (-1)	2,483 (+11%)	6mo	$830,000	$334	54
27849 Emery Rd	0.31mi	3/3.0 (-1)	2,097 (-6%)	16mo	$349,900	$167	54
4310 Brainard Rd	0.67mi	4/2.0	2,165 (-3%)	8mo	$385,000	$178	54
29700 Jackson Rd	0.59mi	4/2.5	2,167 (-3%)	16mo	$380,000	$175	54
29420 Hidden Valley Dr	0.43mi	4/2.5	2,575 (+15%)	9mo	$350,000	$136	47
29425 Hidden Valley Dr	0.40mi	4/3.0	2,439 (+9%)	22mo	$365,000	$150	46
4300 Orangedale Rd	0.71mi	4/3.0	2,523 (+13%)	22mo	$650,000	$258	25

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: 14.8%
• Equity multiple: 1.59×
• Total profit: $82,802
• Equity at exit: $74,552

10-year hold

• IRR: 23.5%
• Equity multiple: 3.02×
• Total profit: $283,311
• Equity at exit: $43,231

Cash invested: $140,000 (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 44022

• Active inventory: 124
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $7,585 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$591 /mo · $7,094/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,593
• Net cashflow: $2,571

Break-even live

Break-even rent $4,331

Max offer price $500,000

Occupancy floor 61%

Sensitivity live

Price	-10% $2,854	-5% $2,712	+0% $2,571	+5% $2,429	+10% $2,288
Rent	-10% $1,971	-5% $2,271	+0% $2,571	+5% $2,870	+10% $3,170
Rate	-1.0pp $2,823	-0.5pp $2,698	base $2,571	+0.5pp $2,441	+1.0pp $2,309

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28649 Jackson Rd Unit 1496119P Chagrin Falls, OH	4.0	3.5	1603	$10,974	$6.85	25d	1	0.57mi
5090 Lake Vista Dr Solon, OH	3.0	2.0	1650	$2,400	$1.45	3d	1	0.90mi

Listing history 17 events

1. 2026-05-22
   status Pending
2. 2026-05-20
   listed $500,000 Active
3. 2023-01-20
   status Pending 999-char remark

   Show marketing remark (999 chars)

   Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

4. 2023-01-13
   soldstatus $360,000
5. 2023-01-12
   soldstatus $360,000 Closed 999-char remark

   Show marketing remark (999 chars)

   Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

6. 2022-12-27
   historical Contingent 999-char remark

   Show marketing remark (999 chars)

   Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

7. 2022-11-07
   price $399,000 999-char remark

   Show marketing remark (999 chars)

   Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

8. 2022-09-29
   price $410,000 999-char remark

   Show marketing remark (999 chars)

   Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

9. 2022-09-21
   price $424,900 999-char remark

   Show marketing remark (999 chars)

   Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

10. 2022-08-16
    price $449,000 999-char remark

    Show marketing remark (999 chars)

    Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

11. 2022-07-18
    listed $475,000 Active 999-char remark

    Show marketing remark (999 chars)

    Beautiful property in Orange school district on lovely, quiet street, with the city park, playground, and baseball diamond at one end, and close to several shopping centers and the highway. Charming and unique home in a pastoral setting. Almost everything updated in 2012 including newer septic tank. Newer, large windows let in lots of light. Hardwood floors and new tiling throughout. Living room with stone fireplace. Formal dining room with corner built-in. First floor master bedroom as well as second master on second floor with beautiful newer bathroom. Two other bedrooms upstairs plus a walk in attic that can be used as a bedroom. Finished basement with 'fireplace and workshop; steps to 2-car garage, and a walk-up from the garage to a room that can be a playroom or a man-cave. Gorgeous property with view of a picturesque pond, very large back yard, with walking trails into the surrounding woods. Light and bright kitchen with stainless appliances, tile floor and beautiful wood cabine

12. 2020-02-24
    historical Hold
13. 2020-01-07
    price $420,000
14. 2019-11-21
    listed $440,000 Active
15. 2011-08-15
    soldstatus $95,000
16. 2011-08-15
    soldstatus $95,000
17. 2011-07-07
    listed $109,000

ⓘ 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: $7,094 · $591/mo
• Projected year-2 tax: $7,447 · $621/mo
• Expected delta: +$353/yr (+$29/mo · 5.0%)

ⓘ 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
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 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: $91,021
• − Mortgage interest: −$28,008
• − Property taxes: −$7,094
• − Insurance: −$2,500
• − Repairs & maintenance: −$7,282
• − Management: −$7,282
• − Depreciation: −$14,545
• Taxable income: $24,311
• Est. tax owed @ 24.0%: −$5,835
• After-tax cash flow: $25,014/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: Orange City
• NCES district ID: 3910016
• Math proficiency: 76% ▼ -11.00%
• Reading proficiency: 83% ▼ -6.00%
• Median HH income: $114,295
• Composite: 73.37/100
• National rank: #182
• State rank: #32 of 656 in OH

Livability — Orange

• Score: 70/100
• State rank: #452
• US rank: #7361

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange, OH
• County: Cuyahoga · 1,045,444 people
• Metro: Cleveland, OH
• Population (ZIP): 16,559
• Household income: $152,213
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 13.7

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 (89%)
• Race & ethnicity: White 89% Black 4% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 6% Scotch-Irish 4% Italian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 92% English-only · Russian/Polish/Slavic 2% Spanish 2% Other Indo-European 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: ▼ -336.08%
• Current HPI: 205.3055
• 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

+358.7% since first listed

17 events — show timeline

• 2026-05-22 Pending — MLSNOW
• 2026-05-20 Listed $500,000 MLSNOW
• 2023-01-20 Pending — MLSNOW
• 2023-01-13 Sold (Public Records) $360,000 Public Records
• 2023-01-12 Sold (MLS) $360,000 MLSNOW
• 2022-12-27 Contingent — MLSNOW
• 2022-11-07 Price Changed $399,000 MLSNOW
• 2022-09-29 Price Changed $410,000 MLSNOW
• 2022-09-21 Price Changed $424,900 MLSNOW
• 2022-08-16 Price Changed $449,000 MLSNOW
• 2022-07-18 Listed $475,000 MLSNOW
• 2020-02-24 Delisted — MLSNOW
• 2020-01-07 Price Changed $420,000 MLSNOW
• 2019-11-21 Listed $440,000 MLSNOW
• 2011-08-15 Sold (Public Records) $95,000 Public Records
• 2011-08-15 Sold (MLS) $95,000 MLSNOW
• 2011-07-07 Listed $109,000 MLSNOW

Property tax history

+4.9%/yr

Latest (2025): $7,094 · +4.0% YoY. Source: county tax records.