22 Lees Ln · Olmsted Falls, OH 44138

$94,900

2 bd · 2.0 ba · 1,440 sqft · SingleFamily · 33 Days on market

Built 1990 Fair condition Est $79k · 20% over $699/mo HOA · 38% of rent

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Why this score? — see what drove the C- 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 +19.9/30.0
• 1% rule +10.0/10.0
• DSCR +6.3/10.0
• Schools +6.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

COLUMBIA PARK IS A 55 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 beautifully maintained home. This 1991 Crystal Valley Doublewide Manufactured Home measures 54 x 26 (1404 sqft) plus a three season sun room enclosure measuring 17 x 10 which gives you an additional 170 sqft. This home features two bedrooms plus a den, two full bathrooms, formal living and dining rooms. Numerous upgrades including drywall. Within the last year, there has been a new Roof, HVAC System, and Hot Water tank. Most of the flooring has been replaced, and a new vinyl privacy fence. The windows have also been replaced, date unknown. Please don't miss out on this one!!!!!!!

Key facts

• New furnace
• New ac
• New roof

Tags

• NEW ROOF
• NEW FURNACE
• NEW AC
• NEW WINDOW TREATMENTS
• LUXURY VINYL FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $49 ($585/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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 $656 of loan paydown is wiped out by about $3k 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 33 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $65k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 38% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.96% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $79,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Concert Ct	0.15mi	2/2.0	1,456 (+1%)	5mo	$79,900	$55	87
8 Harmony	0.10mi	2/2.0	1,344 (-7%)	9mo	$75,000	$56	77
3 Fiddlesticks	0.29mi	3/2.0 (+1)	1,456 (+1%)	6mo	$64,900	$45	75
7 Symphony St	0.08mi	2/2.0	1,624 (+13%)	7mo	$114,000	$70	69
3 Trollyview Ln	0.50mi	3/2.0 (+1)	1,440 (0%)	7mo	$40,000	$28	65
11 Dogwood Ln	0.32mi	3/2.0 (+1)	1,344 (-7%)	8mo	$74,000	$55	62
73 Periwinkle Dr	0.38mi	3/2.0 (+1)	1,568 (+9%)	1mo	$89,000	$57	62
7593 Columbia Rd	0.57mi	3/1.5 (+1)	1,457 (+1%)	4mo	$255,000	$175	62
42 Periwinkle	0.30mi	2/2.0	1,248 (-13%)	6mo	$66,000	$53	58
3 Dogwood Ln	0.32mi	3/2.0 (+1)	1,234 (-14%)	6mo	$90,200	$73	51
26 Van Ess Dr	0.34mi	3/2.0 (+1)	1,248 (-13%)	7mo	$65,500	$52	51
15 Kimberly Ln	0.65mi	3/2.0 (+1)	1,248 (-13%)	1mo	$48,000	$38	42

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-11,775
• Equity at exit: $14,150

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-4,230
• Equity at exit: $8,205

Cash invested: $26,572 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,861 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,424/yr
• Insurance: −$40
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$699
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $49

Break-even live

Break-even rent $1,799

Max offer price $94,900

Occupancy floor 92%

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: $23,725
• Closing costs: $2,847
• 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	3d	1	1.09mi
8450 Daylily DR Olmsted Falls, OH	2.0–3.0	2.5	1541	$2,410	$1.56	1d	10	1.37mi

HOA detail

• Monthly dues: $699 · $8,388/yr
• Likely covers: water

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-04-03
   price $94,900
3. 2026-03-25
   listed $97,900 Active
4. 2023-09-29
   soldstatus $64,900 Closed 891-char remark

   Show marketing remark (891 chars)

   COLUMBIA PARK IS A 55 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 beautifully maintained home. This 1991 Crystal Valley Doublewide Manufactured Home measures 54 x 26 (1404 sqft) plus a three season sun room enclosure measuring 17 x 10 which gives you an additional 170 sqft. This home features two bedrooms plus a den, two full bathrooms, formal living and dining rooms. Numerous upgrades including drywall. Within the last year, there has been a new Roof, HVAC System, and Hot Water tank. Most of the flooring has been replaced, and a new vinyl privacy fence. The windows have also been replaced, date unknown. Please don't miss out on this one!!!!!!!

5. 2023-09-14
   status Pending 891-char remark

   Show marketing remark (891 chars)

   COLUMBIA PARK IS A 55 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 beautifully maintained home. This 1991 Crystal Valley Doublewide Manufactured Home measures 54 x 26 (1404 sqft) plus a three season sun room enclosure measuring 17 x 10 which gives you an additional 170 sqft. This home features two bedrooms plus a den, two full bathrooms, formal living and dining rooms. Numerous upgrades including drywall. Within the last year, there has been a new Roof, HVAC System, and Hot Water tank. Most of the flooring has been replaced, and a new vinyl privacy fence. The windows have also been replaced, date unknown. Please don't miss out on this one!!!!!!!

6. 2023-08-24
   listed $69,500 Active 891-char remark

   Show marketing remark (891 chars)

   COLUMBIA PARK IS A 55 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 beautifully maintained home. This 1991 Crystal Valley Doublewide Manufactured Home measures 54 x 26 (1404 sqft) plus a three season sun room enclosure measuring 17 x 10 which gives you an additional 170 sqft. This home features two bedrooms plus a den, two full bathrooms, formal living and dining rooms. Numerous upgrades including drywall. Within the last year, there has been a new Roof, HVAC System, and Hot Water tank. Most of the flooring has been replaced, and a new vinyl privacy fence. The windows have also been replaced, date unknown. Please don't miss out on this one!!!!!!!

ⓘ 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: $22,330
• − Mortgage interest: −$5,316
• − Property taxes: −$1,424
• − Insurance: −$1,272
• − Repairs & maintenance: −$1,786
• − Management: −$1,786
• − HOA: −$8,388
• − Depreciation: −$2,761
• Taxable loss: −$403
• Est. tax savings @ 24.0%: +$97
• After-tax cash flow: $682/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

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance, with average condition overall. It has potential for increased value with updates to the interior and exterior.

Repairs flagged

• Minor exterior siding — some discoloration
• Minor interior paint — light wear
• Minor landscaping — simple landscaping

Value-add opportunities

• Resale paint interior walls — enhances curb appeal
• Resale replace carpet in living room — improves living space
• Resale repair exterior siding — enhances curb appeal
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · some discoloration	Minor	$500–3,000
interior paint · light wear	Minor	$500–3,000
landscaping · simple landscaping	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint interior walls — enhances curb appeal ↑
• Resale replace carpet in living room — improves living space ↑
• Resale repair exterior siding — enhances curb appeal ↑
• Both landscaping — enhances curb appeal and adds 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: 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

+36.5% since first listed

6 events — show timeline

• 2026-04-27 Pending — MLSNOW
• 2026-04-03 Price Changed $94,900 MLSNOW
• 2026-03-25 Listed $97,900 MLSNOW
• 2023-09-29 Sold (MLS) $64,900 MLSNOW
• 2023-09-14 Pending — MLSNOW
• 2023-08-24 Listed $69,500 MLSNOW