3803 Center Dr · Parma, OH 44134

$199,900

3 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 10 Days on market

Built 1900 0.30 ac lot $128/sqft · 15% below area Est $236k · 15% under

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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).

• ARV discount +14.4/15.0
• Cash flow +13.5/30.0
• Rent growth +5.0/5.0
• 1% rule +4.7/10.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming and spacious 3-bedroom, 1-bath property located in a highly desirable area of Parma! Offering over 1,500 square feet of living space, this well-loved home has been owned by the same owner for over 45 years and is ready for its next chapter. Step inside to find a large eat-in kitchen featuring ample cabinet and counter space—perfect for cooking, entertaining, and everyday living. All appliances stay, making this home truly move-in ready. The generous lot provides plenty of outdoor space for relaxing, gardening, or gatherings. You’ll also appreciate the convenience of extra parking at the top of the driveway with a turnaround area—ideal for guests or multiple vehicles. Located just minutes from shopping, dining, and everyday amenities, this home combines comfort, convenience, and long-term pride of ownership. Don’t miss your opportunity to make this wonderful Parma property your own!

Key facts

• Extra parking
• Large eat-in kitchen
• Generous lot

Tags

• LARGE EAT-IN KITCHEN
• EXTRA PARKING
• TURNAROUND AREA
• GENEROUS LOT
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $6 ($67/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (2.7% below list).
• Recommended offer: $194k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 5.0% in Parma — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 82/100 on livability (#84 in OH, #1,232 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, cost of living A+; Watch: employment C-, commute F.
• Parma City (suburban): math 43% / reading 52% proficiency, ranked #469 of 656 in OH (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.6%/yr); 121 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 34% of the median local income ($69k/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 $1k of loan paydown is wiped out by about $6k 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.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $200k implies a 342% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,489 (2.7% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 8.6

CMA / ARV

• ARV (median comp): $236,383
• List price: $199,900
• Delta: -15.43%
• 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
3803 Center Dr	0.00mi	3/1.0	1,560 (0%)	0mo	$200,000	$128	100
3414 Klusner Ave	0.18mi	3/1.0	1,415 (-9%)	4mo	$264,000	$187	73
2838 Marda Dr	0.53mi	3/2.0	1,524 (-2%)	4mo	$220,000	$144	64
3226 Stanfield Dr	0.26mi	4/2.0 (+1)	1,429 (-8%)	2mo	$210,000	$147	63
2406 Park Dr	0.70mi	3/1.5	1,568 (+0%)	4mo	$241,000	$154	61
3327 Nottingham Dr	0.71mi	3/1.0	1,632 (+5%)	0mo	$275,000	$169	59
2960 Hetzel Dr	0.48mi	3/1.5	1,672 (+7%)	8mo	$194,500	$116	57
3195 Marda Dr	0.40mi	3/1.5	1,725 (+11%)	7mo	$260,000	$151	56
3061 Hilltop Dr	0.50mi	4/2.5 (+1)	1,632 (+5%)	4mo	$303,000	$186	55
4601 W Ridgewood Dr	0.54mi	2/1.5 (-1)	1,481 (-5%)	7mo	$205,000	$138	54
7146 W Parkview Dr	0.68mi	4/2.0 (+1)	1,504 (-4%)	0mo	$155,000	$103	53
3160 Hilltop	0.44mi	3/1.5	1,332 (-15%)	8mo	$239,900	$180	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.61×
• Total profit: $-21,638
• Equity at exit: $29,806

10-year hold

• IRR: 5.6%
• Equity multiple: 1.52×
• Total profit: $28,889
• Equity at exit: $17,284

Cash invested: $55,972 (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 44134

• Rents YoY: 10.6%
• Active inventory: 121
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,945 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$399 /mo · $4,792/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $6

Break-even live

Break-even rent $1,938

Max offer price $199,900

Occupancy floor 95%

Sensitivity live

Price	-10% $119	-5% $62	+0% $6	+5% $-51	+10% $-108
Rent	-10% $-148	-5% $-71	+0% $6	+5% $82	+10% $159
Rate	-1.0pp $106	-0.5pp $56	base $6	+0.5pp $-46	+1.0pp $-99

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5080 Whispering Oaks BLVD Parma, OH	3.0	2.0	1332	$1,799	$1.35	13d	1	0.52mi
4191 W Ridgewood Dr Unit 4193 Parma, OH	4.0	3.0	1800	$1,950	$1.08	45d	1	0.55mi
6924 Day Dr Cleveland, OH	3.0	2.0	2104	$2,200	$1.05	45d	1	0.82mi
6841 Day Dr Cleveland, OH	1.0–3.0	1.0–1.5	862	$1,525	$1.77	3d	5	0.92mi
6403 Ridge Rd Cleveland, OH	2.0	2.0	1110	$1,450	$1.31	17d	1	1.41mi

Listing history 14 events

1. 2026-05-05
   status Pending 948-char remark

   Show marketing remark (948 chars)

   Welcome home to this charming and spacious 3-bedroom, 1-bath property located in a highly desirable area of Parma! Offering over 1,500 square feet of living space, this well-loved home has been owned by the same owner for over 45 years and is ready for its next chapter. Step inside to find a large eat-in kitchen featuring ample cabinet and counter space—perfect for cooking, entertaining, and everyday living. All appliances stay, making this home truly move-in ready. The generous lot provides plenty of outdoor space for relaxing, gardening, or gatherings. You’ll also appreciate the convenience of extra parking at the top of the driveway with a turnaround area—ideal for guests or multiple vehicles. Located just minutes from shopping, dining, and everyday amenities, this home combines comfort, convenience, and long-term pride of ownership. Don’t miss your opportunity to make this wonderful Parma property your own!

2. 2026-04-29
   status Active 948-char remark

   Show marketing remark (948 chars)

   Welcome home to this charming and spacious 3-bedroom, 1-bath property located in a highly desirable area of Parma! Offering over 1,500 square feet of living space, this well-loved home has been owned by the same owner for over 45 years and is ready for its next chapter. Step inside to find a large eat-in kitchen featuring ample cabinet and counter space—perfect for cooking, entertaining, and everyday living. All appliances stay, making this home truly move-in ready. The generous lot provides plenty of outdoor space for relaxing, gardening, or gatherings. You’ll also appreciate the convenience of extra parking at the top of the driveway with a turnaround area—ideal for guests or multiple vehicles. Located just minutes from shopping, dining, and everyday amenities, this home combines comfort, convenience, and long-term pride of ownership. Don’t miss your opportunity to make this wonderful Parma property your own!

3. 2026-04-29
   price $199,900 948-char remark

   Show marketing remark (948 chars)

   Welcome home to this charming and spacious 3-bedroom, 1-bath property located in a highly desirable area of Parma! Offering over 1,500 square feet of living space, this well-loved home has been owned by the same owner for over 45 years and is ready for its next chapter. Step inside to find a large eat-in kitchen featuring ample cabinet and counter space—perfect for cooking, entertaining, and everyday living. All appliances stay, making this home truly move-in ready. The generous lot provides plenty of outdoor space for relaxing, gardening, or gatherings. You’ll also appreciate the convenience of extra parking at the top of the driveway with a turnaround area—ideal for guests or multiple vehicles. Located just minutes from shopping, dining, and everyday amenities, this home combines comfort, convenience, and long-term pride of ownership. Don’t miss your opportunity to make this wonderful Parma property your own!

4. 2026-04-20
   status Pending 948-char remark

   Show marketing remark (948 chars)

   Welcome home to this charming and spacious 3-bedroom, 1-bath property located in a highly desirable area of Parma! Offering over 1,500 square feet of living space, this well-loved home has been owned by the same owner for over 45 years and is ready for its next chapter. Step inside to find a large eat-in kitchen featuring ample cabinet and counter space—perfect for cooking, entertaining, and everyday living. All appliances stay, making this home truly move-in ready. The generous lot provides plenty of outdoor space for relaxing, gardening, or gatherings. You’ll also appreciate the convenience of extra parking at the top of the driveway with a turnaround area—ideal for guests or multiple vehicles. Located just minutes from shopping, dining, and everyday amenities, this home combines comfort, convenience, and long-term pride of ownership. Don’t miss your opportunity to make this wonderful Parma property your own!

5. 2026-04-17
   status Active 948-char remark

   Show marketing remark (948 chars)

   Welcome home to this charming and spacious 3-bedroom, 1-bath property located in a highly desirable area of Parma! Offering over 1,500 square feet of living space, this well-loved home has been owned by the same owner for over 45 years and is ready for its next chapter. Step inside to find a large eat-in kitchen featuring ample cabinet and counter space—perfect for cooking, entertaining, and everyday living. All appliances stay, making this home truly move-in ready. The generous lot provides plenty of outdoor space for relaxing, gardening, or gatherings. You’ll also appreciate the convenience of extra parking at the top of the driveway with a turnaround area—ideal for guests or multiple vehicles. Located just minutes from shopping, dining, and everyday amenities, this home combines comfort, convenience, and long-term pride of ownership. Don’t miss your opportunity to make this wonderful Parma property your own!

6. 2026-03-24
   status Pending 948-char remark

   Show marketing remark (948 chars)

   Welcome home to this charming and spacious 3-bedroom, 1-bath property located in a highly desirable area of Parma! Offering over 1,500 square feet of living space, this well-loved home has been owned by the same owner for over 45 years and is ready for its next chapter. Step inside to find a large eat-in kitchen featuring ample cabinet and counter space—perfect for cooking, entertaining, and everyday living. All appliances stay, making this home truly move-in ready. The generous lot provides plenty of outdoor space for relaxing, gardening, or gatherings. You’ll also appreciate the convenience of extra parking at the top of the driveway with a turnaround area—ideal for guests or multiple vehicles. Located just minutes from shopping, dining, and everyday amenities, this home combines comfort, convenience, and long-term pride of ownership. Don’t miss your opportunity to make this wonderful Parma property your own!

7. 2026-03-21
   listed $215,000 Active 948-char remark

   Show marketing remark (948 chars)

   Welcome home to this charming and spacious 3-bedroom, 1-bath property located in a highly desirable area of Parma! Offering over 1,500 square feet of living space, this well-loved home has been owned by the same owner for over 45 years and is ready for its next chapter. Step inside to find a large eat-in kitchen featuring ample cabinet and counter space—perfect for cooking, entertaining, and everyday living. All appliances stay, making this home truly move-in ready. The generous lot provides plenty of outdoor space for relaxing, gardening, or gatherings. You’ll also appreciate the convenience of extra parking at the top of the driveway with a turnaround area—ideal for guests or multiple vehicles. Located just minutes from shopping, dining, and everyday amenities, this home combines comfort, convenience, and long-term pride of ownership. Don’t miss your opportunity to make this wonderful Parma property your own!

8. 2024-07-03
   status Pending
9. 2024-07-02
   historical
10. 2024-06-21
    status Active
11. 2024-06-21
    price $220,000
12. 2024-05-29
    status Pending
13. 2024-05-18
    listed $230,000 Active
14. 1977-11-01
    soldstatus $45,200

ⓘ 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: $4,792 · $399/mo
• Projected year-2 tax: $4,792 · $399/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
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 17 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: $23,339
• − Mortgage interest: −$11,198
• − Property taxes: −$4,792
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − Depreciation: −$5,815
• Taxable loss: −$3,199
• Est. tax savings @ 24.0%: +$768
• After-tax cash flow: $835/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: Parma City
• NCES district ID: 3904463
• Math proficiency: 43% ▼ -18.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $50,371
• Composite: 40.72/100
• National rank: #3662
• State rank: #469 of 656 in OH

Livability — Parma

• Score: 82/100
• State rank: #84
• US rank: #1232

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parma, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 66,574
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 37,774
• Household income: $68,625
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 668.0

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% Two or more races 6% Hispanic / Latino 5% Black 3% Asian 3%
• Common ancestry: Romanian 14% Subsaharan African 6% Slovak 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 84% English-only · Russian/Polish/Slavic 7% Spanish 3% Other Indo-European 2%

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: ▼ -215.17%
• Current HPI: 184.0553
• Rent YoY: ▲ 10.56%
• Metro: Cleveland-Elyria, OH
• 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

+342.3% since first listed

14 events — show timeline

• 2026-05-05 Pending — MLSNOW
• 2026-04-29 Relisted — MLSNOW
• 2026-04-29 Price Changed $199,900 MLSNOW
• 2026-04-20 Pending — MLSNOW
• 2026-04-17 Relisted — MLSNOW
• 2026-03-24 Pending — MLSNOW
• 2026-03-21 Listed $215,000 MLSNOW
• 2024-07-03 Pending — MLSNOW
• 2024-07-02 Listing Removed — MLSNOW
• 2024-06-21 Relisted — MLSNOW
• 2024-06-21 Price Changed $220,000 MLSNOW
• 2024-05-29 Pending — MLSNOW
• 2024-05-18 Listed $230,000 MLSNOW
• 1977-11-01 Sold (Public Records) $45,200 Public Records

Property tax history

+5.6%/yr

Latest (2025): $4,792 · -5.7% YoY. Source: county tax records.