None · Olmsted Falls, OH 44138

$107,000

3 bd · 1.5 ba · 1,320 sqft · Condo public records · 4 Days on market

Built 1967 $260/mo HOA · 15% of rent

---

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
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely Olmsted Townhouse Condo * Open And Airy With Eat-in Kitchen * Slider From Dining Room To Cute Patio * Furnace And Central Air '93 * In-suite Laundry * Swimming Pool In Complex $150 Fee For Summer * Great Neighborhood And Top Notch Schools *

Key facts

• Open-concept
• Community pool
• Gas stove

Tags

• OPEN-CONCEPT
• GAS STOVE
• DECORATIVE GLASS BACKSPLASH
• COMMUNITY POOL
• COVERED CARPORT PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $107k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $107k).
• Cap rate 10.8% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $740 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 30y 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 $90k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $107,000

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.66% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.10%
• DSCR: 1.72
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.2%
• Equity multiple: 1.28×
• Total profit: $8,442
• Equity at exit: $15,954

10-year hold

• IRR: 16.6%
• Equity multiple: 2.37×
• Total profit: $41,065
• Equity at exit: $9,251

Cash invested: $29,960 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,774 high
• Mortgage (P&I): −$561
• Tax est. 1.5%: −$134 /mo · $1,605/yr
• Insurance: −$45
• HOA: −$260
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $402

Break-even live

Break-even rent $1,265

Max offer price $107,000

Occupancy floor 72%

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9582 Fernwood Dr Olmsted Falls, OH	3.0	1.5	1320	$1,795	$1.36	23d	1	0.13mi
26747 Sprague Rd Olmsted Falls, OH	2.0	1.5	1144	$1,500	$1.31	43d	1	0.35mi
9299 Columbia Rd Olmsted Falls, OH	1.0–2.0	1.0–1.5	782	$2,120	$2.71	1d	1	0.85mi
26875 Bagley Rd Olmsted Twp, OH	1.0–3.0	1.0–2.0	890	$1,299	$1.46	2d	1	1.09mi
8450 Daylily DR Olmsted Falls, OH	2.0–3.0	2.5	1541	$2,680	$1.74	1d	10	1.35mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-21
   status Pending
2. 2026-05-16
   listed $107,000 Active
3. 2009-02-04
   historical
4. 2008-08-04
   listed $108,500
5. 2005-03-22
   soldstatus $90,300 247-char remark

   Show marketing remark (247 chars)

   Lovely Olmsted Townhouse Condo * Open And Airy With Eat-in Kitchen * Slider From Dining Room To Cute Patio * Furnace And Central Air '93 * In-suite Laundry * Swimming Pool In Complex $150 Fee For Summer * Great Neighborhood And Top Notch Schools *

6. 2005-03-22
   soldstatus $90,300

   Show marketing remark (247 chars)

   Lovely Olmsted Townhouse Condo * Open And Airy With Eat-in Kitchen * Slider From Dining Room To Cute Patio * Furnace And Central Air '93 * In-suite Laundry * Swimming Pool In Complex $150 Fee For Summer * Great Neighborhood And Top Notch Schools *

7. 2004-06-21
   listed $89,900 247-char remark

   Show marketing remark (247 chars)

   Lovely Olmsted Townhouse Condo * Open And Airy With Eat-in Kitchen * Slider From Dining Room To Cute Patio * Furnace And Central Air '93 * In-suite Laundry * Swimming Pool In Complex $150 Fee For Summer * Great Neighborhood And Top Notch Schools *

8. 1996-04-09
   soldstatus $72,000
9. 1996-04-08
   soldstatus $72,000
10. 1996-02-17
    listed $74,900
11. 1989-10-27
    soldstatus $55,000
12. 1982-04-29
    soldstatus $41,500
13. 1979-10-12
    soldstatus $45,900
14. 1978-06-01
    soldstatus $37,700

ⓘ 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: $21,286
• − Mortgage interest: −$5,994
• − Property taxes: −$1,605
• − Insurance: −$535
• − Repairs & maintenance: −$1,703
• − Management: −$1,703
• − HOA: −$3,120
• − Depreciation: −$3,113
• Taxable income: $3,514
• Est. tax owed @ 24.0%: −$843
• After-tax cash flow: $3,979/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 — 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

• Census place: Olmsted Falls, OH
• 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

+183.8% since first listed

14 events — show timeline

• 2026-05-21 Pending — MLSNOW
• 2026-05-16 Listed $107,000 MLSNOW
• 2009-02-04 Listing Removed — MLSNOW
• 2008-08-04 Listed $108,500 MLSNOW
• 2005-03-22 Sold (Public Records) $90,300 Public Records
• 2005-03-22 Sold (MLS) $90,300 MLSNOW
• 2004-06-21 Listed $89,900 MLSNOW
• 1996-04-09 Sold (Public Records) $72,000 Public Records
• 1996-04-08 Sold (MLS) $72,000 MLSNOW
• 1996-02-17 Listed $74,900 MLSNOW
• 1989-10-27 Sold (Public Records) $55,000 Public Records
• 1982-04-29 Sold (Public Records) $41,500 Public Records
• 1979-10-12 Sold (Public Records) $45,900 Public Records
• 1978-06-01 Sold (Public Records) $37,700 Public Records

Property tax history

+10.2%/yr

Latest (2025): $6,213 · +107.5% YoY. Source: county tax records.