6482 State Rd Unit E16 · Parma, OH 44134

$149,900

2 bd · 1.0 ba · 1,088 sqft · Condo public records · 114 Days on market

Built 1968 $138/sqft · 9% below area Est $164k · 9% under $342/mo HOA · 20% of rent

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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 +13.8/30.0
• ARV discount +11.5/15.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully maintained upper-level condo offering comfort, space, and great amenities! This inviting 3-bedroom, 1-bath unit features newer windows, furnace, and central A/C for year-round efficiency and peace of mind. The bright and spacious layout includes a large eat-in kitchen with granite countertops, plus a separate dining room—perfect for everyday living and entertaining. You'll love the generous closet space and abundant storage throughout. Additional highlights include a private basement area, a 2-car garage, and a charming patio space ideal for relaxing outdoors. Enjoy access to the community pool in this well-maintained complex. All kitchen appliances are included (washer and dryer excluded), making this home truly move-in ready. Don’t miss your opportunity to own this comfortable, well-appointed condo in a desirable community! Monthly HOA fee is $342

Key facts

• Charming patio space
• Community pool
• Newer windows

Tags

• NEWER WINDOWS
• PRIVATE BASEMENT AREA
• COMMUNITY POOL
• GRANITE COUNTERTOPS
• CHARMING PATIO SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $14 ($162/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 5.0% in Parma — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Dentzler Elementary School (math 62% / reading 52%, grade C+, #729 of 1,584 statewide, top 48%, 456 students, 51% 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 57% FRL vs 41% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.6%/yr); 120 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 114 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $150k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.12% ✓
• Cap rate: 6.40%
• Cash-on-cash: 0.39%
• DSCR: 1.02
• GRM: 7.4

CMA / ARV

• ARV (median comp): $164,477
• List price: $149,900
• Delta: -8.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.66×
• Total profit: $-14,330
• Equity at exit: $22,351

10-year hold

• IRR: 7.4%
• Equity multiple: 1.71×
• Total profit: $29,950
• Equity at exit: $12,961

Cash invested: $41,972 (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 44134

• Rents YoY: 10.6%
• Active inventory: 120
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,684 high
• Mortgage (P&I): −$786
• Tax from tax record: −$127 /mo · $1,520/yr
• Insurance: −$62
• HOA: −$342
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $14

Break-even live

Break-even rent $1,667

Max offer price $149,900

Occupancy floor 94%

Sensitivity live

Price	-10% $98	-5% $56	+0% $14	+5% $-29	+10% $-71
Rent	-10% $-120	-5% $-53	+0% $14	+5% $80	+10% $147
Rate	-1.0pp $89	-0.5pp $52	base $14	+0.5pp $-25	+1.0pp $-65

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5080 Whispering Oaks BLVD Parma, OH	3.0	2.0	1332	$1,799	$1.35	14d	1	0.54mi
3415 Center Dr Cleveland, OH	3.0	1.0	1048	$1,995	$1.90	4d	1	0.75mi
6403 Ridge Rd Cleveland, OH	2.0	2.0	1110	$1,450	$1.31	18d	1	1.01mi
6099 Ridge Rd Cleveland, OH	2.0	1.0	1020	$1,200	$1.18	23d	1	1.19mi
7903 Ackley Rd Unit 7903 Parma, OH	3.0	1.0	1100	$1,600	$1.45	46d	1	1.27mi
2907 Snow Rd Unit up Parma, OH	3.0	1.0	1026	$1,700	$1.66	46d	1	1.29mi
6505 Snow Rd Unit REAR Parma, OH	3.0	1.5	1312	$1,599	$1.22	9d	1	1.36mi
4520 Kenmore Ave Cleveland, OH	2.0	1.0	726	$1,520	$2.09	0d	1	1.39mi
8310 Salisbury Dr Cleveland, OH	3.0	2.0	1088	$1,950	$1.79	9d	1	1.45mi

HOA detail condo

• Monthly dues: $342 · $4,104/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-22
   days on market $149,900 Active 114 DOM
2. 2026-06-21
   days on market $149,900 Active 113 DOM
3. 2026-06-18
   days on market $149,900 Active 110 DOM
4. 2026-06-17
   days on market $149,900 Active 109 DOM
5. 2026-06-16
   days on market $149,900 Active 108 DOM
6. 2026-06-15
   days on market $149,900 Active 107 DOM
7. 2026-06-13
   days on market $149,900 Active 105 DOM
8. 2026-06-13
   days on market $149,900 Active 104 DOM
9. 2026-06-09
   days on market $149,900 Active 101 DOM
10. 2026-06-08
    days on market $149,900 Active 100 DOM
11. 2026-06-07
    days on market $149,900 Active 99 DOM
12. 2026-06-05
    days on market $149,900 Active 96 DOM
13. 2026-06-03
    days on market $149,900 Active 95 DOM
14. 2026-06-02
    days on market $149,900 Active 94 DOM
15. 2026-06-01
    days on market $149,900 Active 93 DOM
16. 2026-05-31
    days on market $149,900 Active 92 DOM
17. 2026-03-07
    price $149,900 906-char remark

    Show marketing remark (906 chars)

    Welcome home to this beautifully maintained upper-level condo offering comfort, space, and great amenities! This inviting 3-bedroom, 1-bath unit features newer windows, furnace, and central A/C for year-round efficiency and peace of mind. The bright and spacious layout includes a large eat-in kitchen with granite countertops, plus a separate dining room—perfect for everyday living and entertaining. You'll love the generous closet space and abundant storage throughout. Additional highlights include a private basement area, a 2-car garage, and a charming patio space ideal for relaxing outdoors. Enjoy access to the community pool in this well-maintained complex. All kitchen appliances are included (washer and dryer excluded), making this home truly move-in ready. Don’t miss your opportunity to own this comfortable, well-appointed condo in a desirable community! Monthly HOA fee is $342

18. 2026-02-28
    listed $159,900 Active 906-char remark

    Show marketing remark (906 chars)

    Welcome home to this beautifully maintained upper-level condo offering comfort, space, and great amenities! This inviting 3-bedroom, 1-bath unit features newer windows, furnace, and central A/C for year-round efficiency and peace of mind. The bright and spacious layout includes a large eat-in kitchen with granite countertops, plus a separate dining room—perfect for everyday living and entertaining. You'll love the generous closet space and abundant storage throughout. Additional highlights include a private basement area, a 2-car garage, and a charming patio space ideal for relaxing outdoors. Enjoy access to the community pool in this well-maintained complex. All kitchen appliances are included (washer and dryer excluded), making this home truly move-in ready. Don’t miss your opportunity to own this comfortable, well-appointed condo in a desirable community! Monthly HOA fee is $342

19. 2018-06-28
    soldstatus $63,900
20. 2011-10-18
    soldstatus $35,000 392-char remark

    Show marketing remark (392 chars)

    Best Value at Concord Square!! Enjoy the life of leisure in this 3 bedroom condo with basement and 2 car garage located in beautiful Concord Square. Low maint. fee includes water & sewer! Pets welcome! No cost washer/dryer just steps from unit! Recreation area featuring in ground pool and playground area. Great location just minutes to Parmatown! Hurry won't last long at this price!!

21. 2011-04-03
    listed $43,900 392-char remark

    Show marketing remark (392 chars)

    Best Value at Concord Square!! Enjoy the life of leisure in this 3 bedroom condo with basement and 2 car garage located in beautiful Concord Square. Low maint. fee includes water & sewer! Pets welcome! No cost washer/dryer just steps from unit! Recreation area featuring in ground pool and playground area. Great location just minutes to Parmatown! Hurry won't last long at this price!!

22. 2011-04-01
    historical
23. 2010-07-06
    listed $44,500
24. 2010-06-30
    historical
25. 2009-12-30
    listed $59,900
26. 2009-12-02
    historical
27. 2009-09-02
    listed $79,900
28. 2009-08-26
    historical
29. 2009-02-26
    listed $79,900
30. 1989-03-10
    soldstatus $57,000
31. 1985-11-15
    soldstatus $50,000
32. 1984-05-09
    soldstatus $49,000
33. 1979-08-22
    soldstatus $42,000
34. 1978-12-07
    soldstatus $37,500
35. 1977-07-01
    soldstatus $32,000

ⓘ 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: $1,520 · $127/mo
• Projected year-2 tax: $1,929 · $161/mo
• Expected delta: +$409/yr (+$34/mo · 26.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,213
• − Mortgage interest: −$8,397
• − Property taxes: −$1,520
• − Insurance: −$750
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − HOA: −$4,104
• − Depreciation: −$4,361
• Taxable loss: −$2,152
• Est. tax savings @ 24.0%: +$516
• After-tax cash flow: $678/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): 37,774
• Household income: $68,625
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 668.0

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% Two or more races 6% Hispanic / Latino 5% Black 3% Asian 3%
• Common ancestry: Romanian 14% Subsaharan African 6% Slovak 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 84% English-only · Russian/Polish/Slavic 7% Spanish 3% Other Indo-European 2%

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: ▼ -215.17%
• Current HPI: 184.0553
• Rent YoY: ▲ 10.56%
• 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

+368.4% since first listed

19 events — show timeline

• 2026-03-07 Price Changed $149,900 MLSNOW
• 2026-02-28 Listed $159,900 MLSNOW
• 2018-06-28 Sold (Public Records) $63,900 Public Records
• 2011-10-18 Sold (MLS) $35,000 MLSNOW
• 2011-04-03 Listed $43,900 MLSNOW
• 2011-04-01 Listing Removed — MLSNOW
• 2010-07-06 Listed $44,500 MLSNOW
• 2010-06-30 Listing Removed — MLSNOW
• 2009-12-30 Listed $59,900 MLSNOW
• 2009-12-02 Listing Removed — MLSNOW
• 2009-09-02 Listed $79,900 MLSNOW
• 2009-08-26 Listing Removed — MLSNOW
• 2009-02-26 Listed $79,900 MLSNOW
• 1989-03-10 Sold (Public Records) $57,000 Public Records
• 1985-11-15 Sold (Public Records) $50,000 Public Records
• 1984-05-09 Sold (Public Records) $49,000 Public Records
• 1979-08-22 Sold (Public Records) $42,000 Public Records
• 1978-12-07 Sold (Public Records) $37,500 Public Records
• 1977-07-01 Sold (Public Records) $32,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,520 · -7.5% YoY. Source: county tax records.