5907 Belmere Dr · Parma, OH 44129

$313,000

4 bd · 2.0 ba · 2,422 sqft · MultiFamily public records · 10 Days on market

Built 1960 6,242 sqft lot $129/sqft · 10% above area Est $284k · 10% over ↓ 3% since listing

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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 +16.8/30.0
• DSCR +5.2/10.0
• 1% rule +4.7/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• ARV discount +2.9/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Exceptional brick duplex in desirable Parma offering the perfect blend of character, space, updates, and income-producing potential. Ideal for investors, owner-occupants, or buyers looking to live in one unit while offsetting their mortgage with rental income from the second unit. Each spacious unit features 2 large bedrooms, 1 full bath, huge living rooms, oversized dining areas, abundant natural light, beautiful natural woodwork, and classic built-in China cabinets that add warmth and timeless charm. Both units offer central air conditioning (approx. 2022), updated electrical boxes (approx. 2011), one furnace is newer (approx. 2022), updated windows, and generous closet and storage space

Key facts

• Updated windows
• Brick duplex
• 6,242 sq ft lot

Tags

• BRICK DUPLEX
• INCOME PRODUCING POTENTIAL
• CENTRAL AIR CONDITIONING
• UPDATED ELECTRICAL BOXES
• UPDATED WINDOWS
• GENEROUS CLOSET SPACE

Property features AI

Finance

• Financial info: Owner pays water; tenant pays electricity and gas

Exterior

• Parking: Attached 2-car garage; Covered carport (1 space); Driveway; garage faces side
• Utilities: Public water; Public sewer
• Home design: 2-story home; Brick construction; Asphalt/fiberglass roof
• Construction: Brick exterior; Asphalt/fiberglass roof; Built in public records (year built source)
• Exterior features: Private yard; Back yard; Front yard; Corner lot; Landscaped

Interior

• Kitchen: Built-in oven; Refrigerator
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Open floor plan; Storage space; Exterior-entry full basement with walk-out access and storage
• Laundry & utility: Washer hookup in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $313k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive. Per door: $100/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $304k (2.8% below list).
• Recommended offer: $304k (2.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.0% in Parma — 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 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.
• Zoned schools: Renwood Elementary School (math 57% / reading 52%, grade C, #788 of 1,584 statewide, top 52%, 252 students, 66% FRL); Shiloh Middle School (math 27% / reading 46%, grade F, #539 of 654 statewide, top 83%, 511 students, 65% FRL); Parma High School (math 32% / reading 47%, grade F, #528 of 781 statewide, top 71%, 1,233 students, 55% FRL) — zoned schools average 62% FRL vs 41% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 88 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,041/mo this rent would consume 52% of the median local household income ($71k/yr) (locally 541% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Recommended offer $304,100 (2.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.97% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.75%
• DSCR: 1.12
• GRM: 8.6

CMA / ARV

• ARV (median comp): $284,230
• List price: $313,000
• Delta: 10.12%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5907 Belmere Dr	0.00mi	4/2.5	2,422 (0%)	1mo	$305,000	$126	97
5903 Warwick Dr	0.06mi	4/2.0	2,422 (0%)	4mo	$273,000	$113	94
5610-5612 Warwick Dr	0.12mi	4/2.0	2,160 (-11%)	8mo	$265,000	$123	70
5711 Warwick Dr	0.08mi	4/2.0	2,160 (-11%)	18mo	$250,000	$116	64
6125 W 54th St	0.38mi	4/2.0	2,160 (-11%)	1mo	$261,900	$121	63
6474 Ridge Rd	0.54mi	4/2.0	2,214 (-9%)	5mo	$280,000	$126	56
5991 Ridge Rd	0.69mi	4/2.0	2,240 (-8%)	1mo	$286,000	$128	54
7805 Ackley Rd	0.64mi	4/2.0	2,240 (-8%)	15mo	$240,000	$107	45
7521 Pelham Dr	0.59mi	4/2.0	2,240 (-8%)	20mo	$280,000	$125	43
7877 Wainstead Dr	0.66mi	4/2.5	2,666 (+10%)	14mo	$260,000	$98	38

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.61×
• Total profit: $-33,860
• Equity at exit: $46,669

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $4,112
• Equity at exit: $27,063

Cash invested: $87,640 (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 44129

• Rents YoY: 4.3%
• Active inventory: 88
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $3,041 high
• Mortgage (P&I): −$1,641
• Tax from tax record: −$430 /mo · $5,157/yr
• Insurance: −$130
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $201

Break-even live

Break-even rent $2,787

Max offer price $313,000

Occupancy floor 88%

Sensitivity live

Price	-10% $378	-5% $289	+0% $201	+5% $112	+10% $24
Rent	-10% $-39	-5% $81	+0% $201	+5% $321	+10% $441
Rate	-1.0pp $358	-0.5pp $280	base $201	+0.5pp $120	+1.0pp $37

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$3,042
Total (2 units)			$3,041

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: $78,250
• Closing costs: $9,390
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4191 W Ridgewood Dr Unit 4193 Parma, OH	4.0	3.0	1800	$1,950	$1.08	45d	1	0.80mi
7514 Bertha Ave Cleveland, OH	5.0	2.0	1672	$1,776	$1.06	3d	1	0.95mi
6924 Day Dr Cleveland, OH	3.0	2.0	2104	$2,200	$1.05	45d	1	1.05mi
5939 Pearl Rd Cleveland, OH	4.0	2.0	2000	$2,499	$1.25	3d	1	1.33mi
2915 Snow Rd Unit 2/UP Parma, OH	3.0	1.5	2378	$1,550	$0.65	25d	1	1.43mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	9d	1	1.48mi
5606 Theota Ave Cleveland, OH	3.0	1.5	1676	$1,400	$0.84	6d	1	1.48mi

Listing history 2 events

1. 2026-05-18
   status Pending 1423-char remark
2. 2026-05-08
   listed $313,000 Active 1423-char remark

ⓘ 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: $5,157 · $430/mo
• Projected year-2 tax: $5,157 · $430/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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,492
• − Mortgage interest: −$17,533
• − Property taxes: −$5,157
• − Insurance: −$1,565
• − Repairs & maintenance: −$2,919
• − Management: −$2,919
• − Depreciation: −$9,105
• Taxable loss: −$2,707
• Est. tax savings @ 24.0%: +$650
• After-tax cash flow: $3,060/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): 28,800
• Household income: $70,651
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 541.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 8% Black 7% Asian 2%
• Hispanic origin (detail): Puerto Rican 9%
• Common ancestry: Romanian 12% Subsaharan African 3% Scandinavian 1%
• Foreign-born: 11% · Canada, India, Vietnam
• Languages at home: 82% English-only · Spanish 7% Russian/Polish/Slavic 4% Other Indo-European 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: ▼ -143.31%
• Current HPI: 184.2628
• Rent YoY: ▲ 4.29%
• 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

-2.6% since first listed

3 events — show timeline

• 2026-05-27 Sold (MLS) $305,000 MLSNOW
• 2026-05-18 Pending — MLSNOW
• 2026-05-08 Listed $313,000 MLSNOW

Property tax history

+4.7%/yr

Latest (2025): $5,157 · -5.1% YoY. Source: county tax records.