None · North Olmsted, OH 44070

$199,000

2 bd · 1.5 ba · 1,094 sqft · SingleFamily public records · 28 Days on market

Built 1948 0.29 ac lot $182/sqft · 28% below area Est $275k · 28% 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 +15.0/15.0
• Cash flow +13.5/30.0
• Schools +4.7/10.0
• Livability +4.3/5.0
• 1% rule +4.2/10.0
• DSCR +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has great potential. The property could be used as a rental. Needs some TLC. Contact lister for more information. Zoned commercial.

Key facts

• Zoned commercial
• 0.29 acre lot
• Built 1948

Tags

• ZONED COMMERCIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $6 ($69/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 $183k (8.0% below list).
• Recommended offer: $183k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $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

• It's been on market 28 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $199k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $183,000 (8.0% below list)

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. 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: 0.92% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 9.1

CMA / ARV

• ARV (median comp): $274,911
• List price: $199,000
• Delta: -27.61%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6580 Barton Rd	0.59mi	3/1.5 (+1)	1,100 (+0%)	1mo	$336,000	$305	66
6795 Charles Rd	0.48mi	3/1.5 (+1)	1,144 (+5%)	10mo	$270,000	$236	57
6523 Charles Rd	0.55mi	3/1.5 (+1)	1,144 (+5%)	9mo	$250,000	$219	54
27397 Cook Rd	0.57mi	3/1.0 (+1)	1,200 (+10%)	3mo	$205,000	$171	48
6571 Charles Rd	0.53mi	3/1.5 (+1)	1,144 (+5%)	23mo	$247,000	$216	44

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 · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-33,906
• Equity at exit: $29,672

10-year hold

• IRR: -11.8%
• Equity multiple: 0.33×
• Total profit: $-37,173
• Equity at exit: $17,206

Cash invested: $55,720 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,830 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$313 /mo · $3,761/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $6

Break-even live

Break-even rent $1,823

Max offer price $199,000

Occupancy floor 95%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27380 Cook Rd Olmsted Twp, OH	2.0	2.0	1123	$2,145	$1.91	1d	2	0.45mi
30349 Lorain Rd North Olmsted, OH	2.0	1.0	1000	$1,450	$1.45	7d	1	0.85mi
6610 Lear Nagle Rd #157 North Ridgeville, OH	3.0	2.0	1344	$1,549	$1.15	43d	1	0.93mi
8300 Ira Dr North Ridgeville, OH	2.0	2.0	1210	$2,134	$1.76	1d	7	1.33mi
27080 Oakwood Dr Olmsted Falls, OH	1.0–2.0	1.0–2.0	975	$1,780	$1.83	1d	39	1.34mi

Listing history 3 events

1. 2026-05-14
   status Pending 141-char remark

   Show marketing remark (141 chars)

   This home has great potential. The property could be used as a rental. Needs some TLC. Contact lister for more information. Zoned commercial.

2. 2026-04-16
   listed $199,000 Active 141-char remark

   Show marketing remark (141 chars)

   This home has great potential. The property could be used as a rental. Needs some TLC. Contact lister for more information. Zoned commercial.

3. 2018-02-09
   soldstatus $80,000

ⓘ 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: $3,761 · $313/mo
• Projected year-2 tax: $3,761 · $313/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 ≥97°F today · 16 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: $21,960
• − Mortgage interest: −$11,147
• − Property taxes: −$3,761
• − Insurance: −$995
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$5,789
• Taxable loss: −$3,246
• Est. tax savings @ 24.0%: +$779
• After-tax cash flow: $848/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

+148.8% since first listed

3 events — show timeline

• 2026-05-14 Pending — MLSNOW
• 2026-04-16 Listed $199,000 MLSNOW
• 2018-02-09 Sold (Public Records) $80,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,761 · -1.1% YoY. Source: county tax records.