2 Carl · Olmsted Falls, OH 44138

$123,900

2 bd · 2.0 ba · 960 sqft · Manufactured · 187 Days on market

Built 2025 Good condition

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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).

• Cash flow +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Schools +6.1/10.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Olmsted Falls, a premier manufactured home community by UMH Properties, Inc. , is a community that provides high-quality affordable housing located in Olmsted Falls, Ohio. Fall in love with our brand new turn-key ready homes' open-concept floor plans, sought-after finishes, and community style living. Enjoy additional storage space with your own private storage shed and large bedroom closets. Step outside your new home, and take advantage of the amenities that come with buying into this UMH Properties Inc. community including a playground, and meet your neighbors at our community picnic. We would love to show you around our community, take a tour today with one of our experienced sales representatives. When you buy or rent one of our manufactured homes in Olmsted Falls, OH you will find the perfect blend of slow-paced country living with access to all the excitement the city has to offer. About a 20 minute drive from Cleveland and Akron, OH, Olmsted Falls offers its residents enjoyable museums, parks, sports and theme parks. Places like the Swings n' Things Fun Park, Lake Erie, and Historical Downtown Olmsted Falls are accessible in less than 90 minutes from our community. Jack Casino is also nearby if you want to try your hand at your favorite game. Stay close to home and bask in the beautiful scenery Olmsted Falls has in spades. Relax, pack a picnic, or indulge in outdoor activities in any of the nearby Village Green Park, David Fortier River Park, and Rocky River Reservation. Join us, and explore the area of Olmsted Falls! Students living in one of our manufactured homes in Olmsted, OH will be located in the Olmsted Falls City Schools District.

Key facts

• Private storage shed
• Village green park
• Built 2025

Tags

• OPEN-CONCEPT FLOOR PLANS
• PRIVATE STORAGE SHED
• VILLAGE GREEN PARK
• DAVID FORTIER RIVER PARK
• ROCKY RIVER RESERVATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $124k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent is only 16% of the median local income ($94k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $857 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

• It's been on market 187 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Recommended offer $109,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 8.2

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-11,568
• Equity at exit: $18,474

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $937
• Equity at exit: $10,713

Cash invested: $34,692 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,253 medium
• Mortgage (P&I): −$650
• Tax est. 1.5%: −$155 /mo · $1,858/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $133

Break-even live

Break-even rent $1,084

Max offer price $123,900

Occupancy floor 84%

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: $30,975
• Closing costs: $3,717
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26875 Bagley Rd Olmsted Twp, OH	1.0–3.0	1.0–2.0	890	$1,199	$1.35	2d	1	0.10mi
9299 Columbia Rd Olmsted Falls, OH	1.0–2.0	1.0–1.5	782	$2,120	$2.71	1d	1	1.42mi

Listing history 1 events

1. 2025-11-21
   listed $123,900 Active 1676-char remark

   Show marketing remark (1676 chars)

   Olmsted Falls, a premier manufactured home community by UMH Properties, Inc. , is a community that provides high-quality affordable housing located in Olmsted Falls, Ohio. Fall in love with our brand new turn-key ready homes' open-concept floor plans, sought-after finishes, and community style living. Enjoy additional storage space with your own private storage shed and large bedroom closets. Step outside your new home, and take advantage of the amenities that come with buying into this UMH Properties Inc. community including a playground, and meet your neighbors at our community picnic. We would love to show you around our community, take a tour today with one of our experienced sales representatives. When you buy or rent one of our manufactured homes in Olmsted Falls, OH you will find the perfect blend of slow-paced country living with access to all the excitement the city has to offer. About a 20 minute drive from Cleveland and Akron, OH, Olmsted Falls offers its residents enjoyable museums, parks, sports and theme parks. Places like the Swings n' Things Fun Park, Lake Erie, and Historical Downtown Olmsted Falls are accessible in less than 90 minutes from our community. Jack Casino is also nearby if you want to try your hand at your favorite game. Stay close to home and bask in the beautiful scenery Olmsted Falls has in spades. Relax, pack a picnic, or indulge in outdoor activities in any of the nearby Village Green Park, David Fortier River Park, and Rocky River Reservation. Join us, and explore the area of Olmsted Falls! Students living in one of our manufactured homes in Olmsted, OH will be located in the Olmsted Falls City Schools District.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥96°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: $15,031
• − Mortgage interest: −$6,940
• − Property taxes: −$1,858
• − Insurance: −$620
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$3,604
• Taxable loss: −$396
• Est. tax savings @ 24.0%: +$95
• After-tax cash flow: $1,695/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a well-maintained exterior and interior. It is turn-key ready and located in a community with amenities, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance the curb appeal and increase the home's value.
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and attract more potential buyers or renters.
• Both Interior touch-ups — Updating the interior paint and decor can make the home more inviting and increase its value.
• Rental HVAC maintenance — A well-maintained HVAC system can attract more renters and reduce utility costs.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Fresh paint can enhance the curb appeal and increase the home's value. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and attract more potential buyers or renters. ↑
• Both Interior touch-ups — Updating the interior paint and decor can make the home more inviting and increase its value. ↑
• Rental HVAC maintenance — A well-maintained HVAC system can attract more renters and reduce utility costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

1 event — show timeline

• 2025-11-21 Listed $123,900 Zillow