Somerset Plan · Olmsted Falls, OH 44138

$152,900

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 261 Days on market

Poor condition

---

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 +12.2/30.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Key facts

• Listed 261 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $153k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-30 ($-365/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (15.0% below list).
• Recommended offer: $130k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: crime A+, employment A+, cost of living 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.
• Zoned schools: Falls-Lenox Primary Elementary School (math 71% / reading 73%, grade A-, #323 of 1,584 statewide, top 23%, 738 students, 15% FRL); Olmsted Falls Middle School (math 66% / reading 64%, grade A-, #194 of 654 statewide, top 31%, 811 students, 14% FRL); Olmsted Falls High School (math 60% / reading 73%, grade B, #150 of 781 statewide, top 20%, 1,250 students, 12% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 184 active listings in the ZIP; 1 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 17% 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 $1k of loan paydown is wiped out by about $5k 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 261 days — a 12% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $129,900 (15.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 0.85% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.85%
• DSCR: 0.96
• GRM: 9.8

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: -17.7%
• Equity multiple: 0.38×
• Total profit: $-26,696
• Equity at exit: $22,798

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-25,664
• Equity at exit: $13,220

Cash invested: $42,812 (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: 184
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,299 medium
• Mortgage (P&I): −$802
• Tax est. 1.5%: −$191 /mo · $2,294/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-30

Break-even live

Break-even rent $1,338

Max offer price $148,494

Occupancy floor 97%

Sensitivity live

Price	-10% $75	-5% $22	+0% $-30	+5% $-83	+10% $-136
Rent	-10% $-133	-5% $-82	+0% $-30	+5% $21	+10% $72
Rate	-1.0pp $47	-0.5pp $8	base $-30	+0.5pp $-70	+1.0pp $-110

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: $38,225
• Closing costs: $4,587
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	$1,299	$1.46	4d	1	1.46mi

Listing history 17 events

1. 2026-06-21
   days on market $152,900 Active 261 DOM
2. 2026-06-18
   days on market $152,900 Active 258 DOM
3. 2026-06-17
   days on market $152,900 Active 257 DOM
4. 2026-06-16
   days on market $152,900 Active 256 DOM
5. 2026-06-15
   days on market $152,900 Active 255 DOM
6. 2026-06-13
   days on market $152,900 Active 253 DOM
7. 2026-06-13
   days on market $152,900 Active 252 DOM
8. 2026-06-09
   days on market $152,900 Active 249 DOM
9. 2026-06-08
   days on market $152,900 Active 248 DOM
10. 2026-06-07
    days on market $152,900 Active 247 DOM
11. 2026-06-03
    days on market $152,900 Active 243 DOM
12. 2026-06-02
    days on market $152,900 Active 242 DOM
13. 2026-06-01
    days on market $152,900 Active 241 DOM
14. 2026-05-31
    days on market $152,900 Active 240 DOM
15. 2026-03-14
    status Active
16. 2025-05-23
    historical
17. 2024-12-13
    listed $152,900 Active

ⓘ 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: $15,588
• − Mortgage interest: −$8,565
• − Property taxes: −$2,294
• − Insurance: −$764
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − Depreciation: −$4,448
• Taxable loss: −$2,977
• Est. tax savings @ 24.0%: +$714
• After-tax cash flow: $349/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 · 2 photos

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and maintenance, including replacing the exterior siding and roof, and improving the landscaping. Significant investment is needed to bring the property up to a good condition, which will substantially increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant damage and discoloration are visible, indicating a need for replacement.
• Major roof — The roof appears old and may have structural issues, requiring replacement.
• Minor landscaping — Some areas of the landscaping are overgrown, which can be easily addressed with trimming and planting.

Value-add opportunities

• Resale repair and replace exterior siding — A fresh, well-maintained exterior will significantly enhance the home's curb appeal and market value.
• Resale repair and replace roof — A new roof will address potential water damage and structural issues, improving the home's overall condition and value.
• Both landscaping and garden improvements — Enhancing the landscaping will improve the home's curb appeal and attract potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage and discoloration are visible, indicating a need for replacement.	Major	$15,000–50,000
roof · The roof appears old and may have structural issues, requiring replacement.	Major	$15,000–50,000
landscaping · Some areas of the landscaping are overgrown, which can be easily addressed with trimming and planting.	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale repair and replace exterior siding — A fresh, well-maintained exterior will significantly enhance the home's curb appeal and market value. ↑
• Resale repair and replace roof — A new roof will address potential water damage and structural issues, improving the home's overall condition and value. ↑
• Both landscaping and garden improvements — Enhancing the landscaping will improve the home's curb appeal and attract potential buyers or renters. ↑

ⓘ 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

3 events — show timeline

• 2026-03-14 Relisted — Zillow
• 2025-05-23 Delisted — Zillow
• 2024-12-13 Listed $152,900 Zillow