54 Flagler · North Olmsted, OH 44138

$49,900

2 bd · 2.0 ba · 980 sqft · Manufactured · 30 Days on market

Built 1986 $51/sqft · 17% above area Est $43k · 17% over

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.1/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

COLUMBIA PARK IS A 55 AND OLDER CONCEPT OF LIVING and is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! Welcome home to this singlewide 2 bedroom 2 full bath manufactured Home. Walk in to be greeted by an open concept floor plan featuring a large great room perfect for entertaining or relaxing. Eat-in kitchen features tons of cabinet space, full sized pantry, island breakfast bar perfect for additional seating, stainless appliances and room for a full table. Owners suite boasts walk in closet and a private bath with a newer commode, expansive vanity, shower and tub plus linen closet and ceiling fan. 2 bedroom is on the other side of the home with a sizable closet and a full bath nearby. 2nd full bath features Harwood vanity and updated shower and commode. Laundry room provides W & D has its own entrance and can be used as a mudroom. Storage available. Outside relax on your covered patio with room for multiple outdoor furniture sets. Keep the car out of the elements in the 1 car cover carport! Storage shed for all the yard tools! New hot water tank 2025! New furnace and AC and thermostat 2025! Roof approx 5 years old! Whole underneath has been recently insulated. Vinyl siding! All appliances stay. Do not miss your opportunity to own this one and schedule a tour today!

Key facts

• Bocce ball
• Library
• Walking path

Tags

• GATEHOUSE MANAGED ENTRANCE
• ON SITE SHOPPING PLAZA
• WALKING PATH
• SHUFFLEBOARD
• BOCCE BALL
• LIBRARY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $814 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.5% 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.
• 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $345 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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.
• Current owner paid $6k; list at $50k implies a 732% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 3.11% ✓
• Cap rate: 27.46%
• Cash-on-cash: 75.60%
• DSCR: 4.36
• GRM: 2.7

CMA / ARV

• ARV (median comp): $42,781
• List price: $49,900
• Delta: 16.64%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 69.5%
• Equity multiple: 4.14×
• Total profit: $43,807
• Equity at exit: $7,440

10-year hold

• IRR: 73.5%
• Equity multiple: 8.53×
• Total profit: $105,145
• Equity at exit: $4,314

Cash invested: $13,972 (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 44138

• Home prices YoY: -30.8%
• Active inventory: 183
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,551 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $814

Break-even live

Break-even rent $521

Max offer price $49,900

Occupancy floor 43%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5785 Fitch Rd North Olmsted, OH	2.0	1.0	1080	$1,650	$1.53	43d	1	1.18mi
26875 Bagley Rd Olmsted Twp, OH	1.0–3.0	1.0–2.0	890	$1,199	$1.35	2d	1	1.28mi
27080 Oakwood Dr Olmsted Falls, OH	1.0–2.0	1.0–2.0	975	$1,780	$1.83	1d	39	1.33mi

Listing history 6 events

1. 2026-05-19
   status Pending 1472-char remark

   Show marketing remark (1472 chars)

   COLUMBIA PARK IS A 55 AND OLDER CONCEPT OF LIVING and is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! Welcome home to this singlewide 2 bedroom 2 full bath manufactured Home. Walk in to be greeted by an open concept floor plan featuring a large great room perfect for entertaining or relaxing. Eat-in kitchen features tons of cabinet space, full sized pantry, island breakfast bar perfect for additional seating, stainless appliances and room for a full table. Owners suite boasts walk in closet and a private bath with a newer commode, expansive vanity, shower and tub plus linen closet and ceiling fan. 2 bedroom is on the other side of the home with a sizable closet and a full bath nearby. 2nd full bath features Harwood vanity and updated shower and commode. Laundry room provides W & D has its own entrance and can be used as a mudroom. Storage available. Outside relax on your covered patio with room for multiple outdoor furniture sets. Keep the car out of the elements in the 1 car cover carport! Storage shed for all the yard tools! New hot water tank 2025! New furnace and AC and thermostat 2025! Roof approx 5 years old! Whole underneath has been recently insulated. Vinyl siding! All appliances stay. Do not miss your opportunity to own this one and schedule a tour today!

2. 2026-04-17
   listed $49,900 Active 1472-char remark

   Show marketing remark (1472 chars)

   COLUMBIA PARK IS A 55 AND OLDER CONCEPT OF LIVING and is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Bocce Ball! Library! Crafts, and Social Hall! Welcome home to this singlewide 2 bedroom 2 full bath manufactured Home. Walk in to be greeted by an open concept floor plan featuring a large great room perfect for entertaining or relaxing. Eat-in kitchen features tons of cabinet space, full sized pantry, island breakfast bar perfect for additional seating, stainless appliances and room for a full table. Owners suite boasts walk in closet and a private bath with a newer commode, expansive vanity, shower and tub plus linen closet and ceiling fan. 2 bedroom is on the other side of the home with a sizable closet and a full bath nearby. 2nd full bath features Harwood vanity and updated shower and commode. Laundry room provides W & D has its own entrance and can be used as a mudroom. Storage available. Outside relax on your covered patio with room for multiple outdoor furniture sets. Keep the car out of the elements in the 1 car cover carport! Storage shed for all the yard tools! New hot water tank 2025! New furnace and AC and thermostat 2025! Roof approx 5 years old! Whole underneath has been recently insulated. Vinyl siding! All appliances stay. Do not miss your opportunity to own this one and schedule a tour today!

3. 2018-04-17
   soldstatus $6,000 Sold 655-char remark

   Show marketing remark (655 chars)

   This home has been priced to sell. Features 2 bedrooms/ 2 baths with open living room/kitchen space. Forced air gas heat. Current owner was a heavy smoker. .. Home will need a thorough cleaning. Bedrooms on opposite ends of the home. .. 980 sq ft. Manufactured in 1993. Bring in your cleaning crew at this fabulous price. Columbia Park is an age specific community. Columbia Park is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Boccie Ball! Library! Crafts, Social Hall with daily scheduled activities and so much more!

4. 2018-04-13
   status Pending 655-char remark

   Show marketing remark (655 chars)

   This home has been priced to sell. Features 2 bedrooms/ 2 baths with open living room/kitchen space. Forced air gas heat. Current owner was a heavy smoker. .. Home will need a thorough cleaning. Bedrooms on opposite ends of the home. .. 980 sq ft. Manufactured in 1993. Bring in your cleaning crew at this fabulous price. Columbia Park is an age specific community. Columbia Park is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Boccie Ball! Library! Crafts, Social Hall with daily scheduled activities and so much more!

5. 2018-04-04
   historical Contingent 655-char remark

   Show marketing remark (655 chars)

   This home has been priced to sell. Features 2 bedrooms/ 2 baths with open living room/kitchen space. Forced air gas heat. Current owner was a heavy smoker. .. Home will need a thorough cleaning. Bedrooms on opposite ends of the home. .. 980 sq ft. Manufactured in 1993. Bring in your cleaning crew at this fabulous price. Columbia Park is an age specific community. Columbia Park is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Boccie Ball! Library! Crafts, Social Hall with daily scheduled activities and so much more!

6. 2018-02-06
   listed $10,000 Active 655-char remark

   Show marketing remark (655 chars)

   This home has been priced to sell. Features 2 bedrooms/ 2 baths with open living room/kitchen space. Forced air gas heat. Current owner was a heavy smoker. .. Home will need a thorough cleaning. Bedrooms on opposite ends of the home. .. 980 sq ft. Manufactured in 1993. Bring in your cleaning crew at this fabulous price. Columbia Park is an age specific community. Columbia Park is Ohio's Premiere Adult Land Lease Community! Amenities include: Gatehouse managed entrance! On site Shopping Plaza! On site Management! Walking Path/Dog Walking Path! Shuffleboard! Boccie Ball! Library! Crafts, Social Hall with daily scheduled activities and so much more!

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 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: $18,609
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$1,047
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$1,452
• Taxable income: $9,589
• Est. tax owed @ 24.0%: −$2,301
• After-tax cash flow: $7,464/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: 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 — 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

• 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

+399.0% since first listed

6 events — show timeline

• 2026-05-19 Pending — MLSNOW
• 2026-04-17 Listed $49,900 MLSNOW
• 2018-04-17 Sold (MLS) $6,000 MLSNOW
• 2018-04-13 Pending — MLSNOW
• 2018-04-04 Contingent — MLSNOW
• 2018-02-06 Listed $10,000 MLSNOW