3944 Brendan Ln Unit G508 · North Olmsted, OH 44070

$127,000

2 bd · 1.0 ba · 1,020 sqft · Condo public records · 14 Days on market

Built 1964 $125/sqft · at area comps Est $122k · at est. $198/mo HOA · 14% 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 +12.8/30.0
• 1% rule +5.9/10.0
• ARV discount +5.7/15.0
• Schools +4.7/10.0
• Livability +4.3/5.0
• DSCR +3.8/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Light and bright condo located in the quiet and well maintained Roman Gardens complex in North Olmsted. Spacious living area with large front window and bump out lets in tons of natural light. In unit laundry room with newer washer and dryer. Large bedrooms with great closet space--including a walk-in closet in the master with built in vanity and extra storage. Low monthly maintenance fee includes one garage unit, property maintenance, annual insurance, and use of the large in-ground community pool. Updates include: garage door opener (2014), garbage disposal 2014, hot water tank (2014), kitchen and laundry room floor (2012), washer dryer, & refrigerator (2012), windows and dishwasher (2006), furnace and AC (2003). Prime North Olmsted location, quiet yet right by freeways, parks, shopping and restaurants. Call today!

Key facts

• Renovated bathrooms
• $198 HOA
• Garage

Tags

• FULLY UPDATED KITCHEN
• RENOVATED BATHROOMS
• IN-SUITE WASHER AND DRYER
• BUILT-IN VANITY DRESSING AREA
• LANDSCAPING AND LAWN CARE

Property features AI

Finance

• HOA & community: Homeowners association managed by Lawrence Management; Monthly association fee of $198; HOA covers common area maintenance, ground maintenance, structure maintenance, snow removal, and trash

Exterior

• Parking: Garage plus parking lot access; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-story unit within a 3-story building; Entry on level 2; Flat roof; Brick construction
• Construction: Built (year per public records); Brick construction; Flat roof
• Exterior features: Private pool; Lot recorded at approximately 5.70 acres

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Updated/remodeled condition; Total of 4 rooms
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $127k.

Deal economics

• At list price, monthly cash flow is $-12 ($-139/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (1.6% below list).
• Meets the 1% rule at list price ($1k rent vs $127k).
• Recommended offer: $125k (1.6% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 4.0% in North Olmsted — 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 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.
• North Olmsted City (suburban): math 51% / reading 57% proficiency, ranked #368 of 656 in OH (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.9%/yr); 159 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $878 of loan paydown is wiped out by about $4k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $60k; list at $127k implies a 112% gain — meaningful room to come down on a strong offer.

Recommended offer $124,948 (1.6% 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 1964 — 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 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?
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: 1.09% ✓
• Cap rate: 6.18%
• Cash-on-cash: -0.39%
• DSCR: 0.98
• GRM: 7.7

CMA / ARV

• ARV (median comp): $122,090
• List price: $127,000
• Delta: 4.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-22,738
• Equity at exit: $18,936

10-year hold

• IRR: -13.6%
• Equity multiple: 0.26×
• Total profit: $-26,434
• Equity at exit: $10,981

Cash invested: $35,560 (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 44070

• Rents YoY: 1.9%
• Active inventory: 159
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,378 high
• Mortgage (P&I): −$666
• Tax from tax record: −$184 /mo · $2,202/yr
• Insurance: −$53
• HOA: −$198
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-12

Break-even live

Break-even rent $1,393

Max offer price $124,948

Occupancy floor 96%

Sensitivity live

Price	-10% $60	-5% $24	+0% $-12	+5% $-48	+10% $-84
Rent	-10% $-120	-5% $-66	+0% $-12	+5% $43	+10% $97
Rate	-1.0pp $52	-0.5pp $21	base $-12	+0.5pp $-45	+1.0pp $-78

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: $31,750
• Closing costs: $3,810
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3951 Brendan Ln North Olmsted, OH	2.0–3.0	1.0–1.5	981	$1,050	$1.07	44d	1	0.07mi
23464 Lorain Rd Unit 209 North Olmsted, OH	2.0	1.0	900	$1,300	$1.44	21d	1	0.25mi
23464 Lorain Rd North Olmsted, OH	1.0–2.0	1.0	777	$1,300	$1.67	5d	10	0.25mi
3653 Beaumont Dr North Olmsted, OH	3.0	1.0	1128	$1,600	$1.42	4d	1	0.31mi
23691 Delmere Dr North Olmsted, OH	1.0–2.0	1.0	750	$1,200	$1.60	3d	3	0.33mi
4566 W 226th St Cleveland, OH	3.0	1.0	1488	$1,895	$1.27	44d	1	0.66mi
4829 Columbia Rd North Olmsted, OH	1.0–2.0	1.0–1.5	847	$1,505	$1.78	2d	11	0.87mi
23000 Mastick Rd North Olmsted, OH	1.0	1.0	740	$1,145	$1.55	44d	1	0.87mi
23000 Mastick Rd North Olmsted, OH	1.0–2.0	1.0–2.0	880	$1,785	$2.03	2d	7	0.87mi
22445 Lorain Rd Fairview Park, OH	1.0–2.0	1.0	732	$1,599	$2.18	2d	1	0.91mi
4789 Columbia Rd #206 North Olmsted, OH	2.0	1.0	796	$1,300	$1.63	2d	1	0.92mi
23246 Alexander Rd North Olmsted, OH	2.0	1.0	750	$1,100	$1.47	44d	1	0.95mi
4877 Columbia Rd North Olmsted, OH	2.0	1.0	775	$1,125	$1.45	44d	1	1.00mi
24635 Clareshire Dr #203 North Olmsted, OH	2.0	1.0	873	$1,350	$1.55	13d	1	1.20mi
25151 Brookpark Rd North Olmsted, OH	1.0–2.0	1.0	945	$1,617	$1.71	2d	1	1.31mi
5250 Columbia Rd North Olmsted, OH	2.0	1.0–1.5	665	$1,295	$1.95	44d	1	1.40mi

HOA detail condo

• Monthly dues: $198 · $2,376/yr
• Likely covers: watertrashpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-16
   status Pending 867-char remark
2. 2026-05-09
   listed $127,000 Active 867-char remark
3. 2018-06-11
   soldstatus $60,000 Sold 833-char remark

   Show marketing remark (833 chars)

   Light and bright condo located in the quiet and well maintained Roman Gardens complex in North Olmsted. Spacious living area with large front window and bump out lets in tons of natural light. In unit laundry room with newer washer and dryer. Large bedrooms with great closet space--including a walk-in closet in the master with built in vanity and extra storage. Low monthly maintenance fee includes one garage unit, property maintenance, annual insurance, and use of the large in-ground community pool. Updates include: garage door opener (2014), garbage disposal 2014, hot water tank (2014), kitchen and laundry room floor (2012), washer dryer, & refrigerator (2012), windows and dishwasher (2006), furnace and AC (2003). Prime North Olmsted location, quiet yet right by freeways, parks, shopping and restaurants. Call today!

4. 2018-06-11
   soldstatus $60,000

   Show marketing remark (833 chars)

   Light and bright condo located in the quiet and well maintained Roman Gardens complex in North Olmsted. Spacious living area with large front window and bump out lets in tons of natural light. In unit laundry room with newer washer and dryer. Large bedrooms with great closet space--including a walk-in closet in the master with built in vanity and extra storage. Low monthly maintenance fee includes one garage unit, property maintenance, annual insurance, and use of the large in-ground community pool. Updates include: garage door opener (2014), garbage disposal 2014, hot water tank (2014), kitchen and laundry room floor (2012), washer dryer, & refrigerator (2012), windows and dishwasher (2006), furnace and AC (2003). Prime North Olmsted location, quiet yet right by freeways, parks, shopping and restaurants. Call today!

5. 2018-05-10
   status Pending 833-char remark

   Show marketing remark (833 chars)

   Light and bright condo located in the quiet and well maintained Roman Gardens complex in North Olmsted. Spacious living area with large front window and bump out lets in tons of natural light. In unit laundry room with newer washer and dryer. Large bedrooms with great closet space--including a walk-in closet in the master with built in vanity and extra storage. Low monthly maintenance fee includes one garage unit, property maintenance, annual insurance, and use of the large in-ground community pool. Updates include: garage door opener (2014), garbage disposal 2014, hot water tank (2014), kitchen and laundry room floor (2012), washer dryer, & refrigerator (2012), windows and dishwasher (2006), furnace and AC (2003). Prime North Olmsted location, quiet yet right by freeways, parks, shopping and restaurants. Call today!

6. 2018-04-29
   historical Contingent 833-char remark

   Show marketing remark (833 chars)

   Light and bright condo located in the quiet and well maintained Roman Gardens complex in North Olmsted. Spacious living area with large front window and bump out lets in tons of natural light. In unit laundry room with newer washer and dryer. Large bedrooms with great closet space--including a walk-in closet in the master with built in vanity and extra storage. Low monthly maintenance fee includes one garage unit, property maintenance, annual insurance, and use of the large in-ground community pool. Updates include: garage door opener (2014), garbage disposal 2014, hot water tank (2014), kitchen and laundry room floor (2012), washer dryer, & refrigerator (2012), windows and dishwasher (2006), furnace and AC (2003). Prime North Olmsted location, quiet yet right by freeways, parks, shopping and restaurants. Call today!

7. 2018-04-24
   listed $59,500 Active 833-char remark

   Show marketing remark (833 chars)

   Light and bright condo located in the quiet and well maintained Roman Gardens complex in North Olmsted. Spacious living area with large front window and bump out lets in tons of natural light. In unit laundry room with newer washer and dryer. Large bedrooms with great closet space--including a walk-in closet in the master with built in vanity and extra storage. Low monthly maintenance fee includes one garage unit, property maintenance, annual insurance, and use of the large in-ground community pool. Updates include: garage door opener (2014), garbage disposal 2014, hot water tank (2014), kitchen and laundry room floor (2012), washer dryer, & refrigerator (2012), windows and dishwasher (2006), furnace and AC (2003). Prime North Olmsted location, quiet yet right by freeways, parks, shopping and restaurants. Call today!

8. 1975-06-01
   soldstatus $22,500

ⓘ 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: $2,202 · $184/mo
• Projected year-2 tax: $2,202 · $184/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 3/10 Moderate 7 d/yr ≥95°F today · 17 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: $16,539
• − Mortgage interest: −$7,114
• − Property taxes: −$2,202
• − Insurance: −$635
• − Repairs & maintenance: −$1,323
• − Management: −$1,323
• − HOA: −$2,376
• − Depreciation: −$3,695
• Taxable loss: −$2,129
• Est. tax savings @ 24.0%: +$511
• After-tax cash flow: $372/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: North Olmsted City
• NCES district ID: 3904452
• Math proficiency: 51% ▼ -17.00%
• Reading proficiency: 57% ▼ -7.00%
• Median HH income: $59,338
• Composite: 46.98/100
• National rank: #2353
• State rank: #368 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

• Census place: North Olmsted, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 31,924
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 31,924
• Household income: $84,363
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 667.0

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% Hispanic / Latino 7% Two or more races 6% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 3% Other Indo-European 3% Arabic 3%

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: ▼ -243.21%
• Current HPI: 214.2257
• Rent YoY: ▲ 1.85%
• 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

+464.4% since first listed

10 events — show timeline

• 2026-05-27 Pending — MLSNOW
• 2026-05-20 Relisted — MLSNOW
• 2026-05-16 Pending — MLSNOW
• 2026-05-09 Listed $127,000 MLSNOW
• 2018-06-11 Sold (Public Records) $60,000 Public Records
• 2018-06-11 Sold (MLS) $60,000 MLSNOW
• 2018-05-10 Pending — MLSNOW
• 2018-04-29 Contingent — MLSNOW
• 2018-04-24 Listed $59,500 MLSNOW
• 1975-06-01 Sold (Public Records) $22,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,202 · -1.1% YoY. Source: county tax records.