20100 Fairmount Blvd #102 · Shaker Heights, OH 44118

$179,000

3 bd · 3.0 ba · 2,364 sqft · Condo public records · 91 Days on market

Built 1962 $76/sqft · 30% below area Est $235k · 24% under $815/mo HOA · 35% of rent

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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).

• ARV discount +15.0/15.0
• 1% rule +7.9/10.0
• Schools +5.0/10.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• Cash flow +3.5/30.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS could be THE PLACE! Rare and exceptionally spacious first-floor condo offering over 2,100 sq ft of living space. This one-of-a-kind unit is the only one in the building with direct access from the garage into a private laundry room—perfectly suited to function as a convenient mudroom—and includes one designated parking space in the garage. The flexible floor plan features 3 bedrooms and 3 full bathrooms, including a true primary suite with two walk-in closets and a private bath. Enjoy an oversized additional living area with sliding doors that open to a private patio, creating great indoor-outdoor flow. Character and functionality shine with custom built-ins, a dry bar, and a vintage record player with integrated sound system that will remain with the unit. Recent updates include a brand new roof (late 2025) and two new windows (2026) in the primary suite and front corner bedroom. An incredible opportunity to own a truly unique condo with space, personality, and endless potential to make it your own.

Key facts

• Dry bar
• Private patio
• Custom built-ins

Tags

• DIRECT ACCESS FROM GARAGE
• PRIVATE LAUNDRY ROOM
• DESIGNATED PARKING SPACE
• PRIVATE PATIO
• CUSTOM BUILT-INS
• DRY BAR

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $-539 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (28.4% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $128k (28.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 89/100 on livability (#15 in OH, #134 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F.
• Shaker Heights City (suburban): math 50% / reading 63% proficiency, ranked #309 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.7%/yr); 253 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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).
• This rent runs 36% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 91 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 34y ago; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $179k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; HOA is 35% of rent.

Recommended offer $128,105 (28.4% 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 91 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.29% ✓
• Cap rate: 2.68%
• Cash-on-cash: -12.90%
• DSCR: 0.43
• GRM: 6.5

CMA / ARV

• ARV (median comp): $235,398
• List price: $179,000
• Delta: -23.96%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.7% rent growth · sell at horizon

5-year hold

• IRR: -32.7%
• Equity multiple: -0.12×
• Total profit: $-56,156
• Equity at exit: $26,689

10-year hold

• IRR: -18.4%
• Equity multiple: -0.24×
• Total profit: $-62,208
• Equity at exit: $15,477

Cash invested: $50,120 (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 44118

• Rents YoY: 5.7%
• Active inventory: 253
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,308 high
• Mortgage (P&I): −$939
• Tax from tax record: −$534 /mo · $6,405/yr
• Insurance: −$75
• HOA: −$815
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-539

Break-even live

Break-even rent $2,990

Max offer price $128,105

Occupancy floor —

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2539 Warrensville Center Rd Unit Down Cleveland, OH	3.0	2.0	1652	$2,400	$1.45	1d	1	0.33mi
3982 Meadowbrook Blvd University Heights, OH	3.0	1.5	1650	$2,200	$1.33	1d	1	0.35mi
4037 Washington Blvd University Heights, OH	3.0	2.5	2403	$2,750	$1.14	1d	1	0.76mi
2452 Bromley Rd University Heights, OH	4.0	2.5	2219	$2,800	$1.26	23d	1	0.77mi
3921 Bushnell Rd Cleveland, OH	3.0	2.0	2175	$2,400	$1.10	19d	1	0.89mi
2267 Edgerton Rd University Heights, OH	3.0	1.5	1958	$1,750	$0.89	16d	1	0.90mi
4069 Bushnell Rd Cleveland, OH	3.0	1.5	2397	$2,000	$0.83	11d	1	0.92mi
4198 Bushnell Rd Cleveland, OH	3.0	1.5	2253	$2,100	$0.93	10d	1	0.99mi
3829 Washington Blvd University Heights, OH	3.0	1.0	1577	$2,250	$1.43	16d	1	1.02mi
3621 Silsby Rd Unit 1496056P University Heights, OH	4.0	2.5	1603	$7,927	$4.95	2d	1	1.03mi
3330 Warrensville Center Rd Shaker Heights, OH	2.0	2.0	1890	$4,500	$2.38	1d	1	1.18mi
3895 Colony Rd Cleveland, OH	3.0	2.0	1800	$1,700	$0.94	16d	1	1.20mi
4470 Silsby Rd Cleveland, OH	3.0	1.5	1654	$2,400	$1.45	1d	1	1.27mi
20005 Farnsleigh Rd Shaker Heights, OH	1.0–3.0	1.0–3.5	1407	$7,815	$5.55	1d	8	1.27mi
19601 Van Aken Blvd Shaker Heights, OH	1.0–4.0	1.0–4.0	1977	$3,462	$1.75	21d	1	1.31mi
3824 E Antisdale Rd Cleveland, OH	3.0	1.0	1903	$1,650	$0.87	16d	1	1.39mi
3232 Clarendon Rd Cleveland, OH	2.0	1.0	1602	$1,575	$0.98	7d	1	1.42mi
2056 Laurelhill Dr Cleveland, OH	4.0	2.5	2482	$2,500	$1.01	2d	1	1.47mi

HOA detail condo

• Monthly dues: $815 · $9,780/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $179,000 Active 91 DOM
2. 2026-06-17
   days on market $179,000 Active 90 DOM
3. 2026-06-16
   days on market $179,000 Active 89 DOM
4. 2026-06-15
   days on market $179,000 Active 88 DOM
5. 2026-06-13
   days on market $179,000 Active 86 DOM
6. 2026-06-13
   days on market $179,000 Active 85 DOM
7. 2026-06-09
   days on market $179,000 Active 82 DOM
8. 2026-06-08
   days on market $179,000 Active 81 DOM
9. 2026-06-07
   days on market $179,000 Active 80 DOM
10. 2026-06-03
    days on market $179,000 Active 76 DOM
11. 2026-06-02
    days on market $179,000 Active 75 DOM
12. 2026-06-01
    days on market $179,000 Active 74 DOM
13. 2026-05-31
    days on market $179,000 Active 73 DOM
14. 2026-05-16
    price $179,000 1033-char remark

    Show marketing remark (1033 chars)

    THIS could be THE PLACE! Rare and exceptionally spacious first-floor condo offering over 2,100 sq ft of living space. This one-of-a-kind unit is the only one in the building with direct access from the garage into a private laundry room—perfectly suited to function as a convenient mudroom—and includes one designated parking space in the garage. The flexible floor plan features 3 bedrooms and 3 full bathrooms, including a true primary suite with two walk-in closets and a private bath. Enjoy an oversized additional living area with sliding doors that open to a private patio, creating great indoor-outdoor flow. Character and functionality shine with custom built-ins, a dry bar, and a vintage record player with integrated sound system that will remain with the unit. Recent updates include a brand new roof (late 2025) and two new windows (2026) in the primary suite and front corner bedroom. An incredible opportunity to own a truly unique condo with space, personality, and endless potential to make it your own.

15. 2026-04-16
    price $185,000 1033-char remark

    Show marketing remark (1033 chars)

    THIS could be THE PLACE! Rare and exceptionally spacious first-floor condo offering over 2,100 sq ft of living space. This one-of-a-kind unit is the only one in the building with direct access from the garage into a private laundry room—perfectly suited to function as a convenient mudroom—and includes one designated parking space in the garage. The flexible floor plan features 3 bedrooms and 3 full bathrooms, including a true primary suite with two walk-in closets and a private bath. Enjoy an oversized additional living area with sliding doors that open to a private patio, creating great indoor-outdoor flow. Character and functionality shine with custom built-ins, a dry bar, and a vintage record player with integrated sound system that will remain with the unit. Recent updates include a brand new roof (late 2025) and two new windows (2026) in the primary suite and front corner bedroom. An incredible opportunity to own a truly unique condo with space, personality, and endless potential to make it your own.

16. 2026-03-17
    listed $195,000 Active 1033-char remark

    Show marketing remark (1033 chars)

    THIS could be THE PLACE! Rare and exceptionally spacious first-floor condo offering over 2,100 sq ft of living space. This one-of-a-kind unit is the only one in the building with direct access from the garage into a private laundry room—perfectly suited to function as a convenient mudroom—and includes one designated parking space in the garage. The flexible floor plan features 3 bedrooms and 3 full bathrooms, including a true primary suite with two walk-in closets and a private bath. Enjoy an oversized additional living area with sliding doors that open to a private patio, creating great indoor-outdoor flow. Character and functionality shine with custom built-ins, a dry bar, and a vintage record player with integrated sound system that will remain with the unit. Recent updates include a brand new roof (late 2025) and two new windows (2026) in the primary suite and front corner bedroom. An incredible opportunity to own a truly unique condo with space, personality, and endless potential to make it your own.

17. 2012-02-29
    soldstatus $115,000 970-char remark

    Show marketing remark (970 chars)

    No stairs from the garage to the unit or inside the unit!! This is a very special condo. A beautiful foyer with built-in bookcases welcomes you home. To your left is a very large family room w/ full bath and access to a private patio. Your own laundry room (big enough for a full size freezer) has a private door to the garage and your nearby parking space. The very large master has it's own full bath and two very large walk-in closets. Another full bath services the other two bedrooms which also have good closets. The living room has a wall of cabinets for great storange and TV placement. A large area for a kitchen table and the U shaped cooking area with good storage and counter space makes cooking a pleasure. New AC installed 8/2011. The unit faces Fairmount and is very sunny and cheerful -Fairmount street noise is not audible in the unit. The maintenance fee has come DOWN close to $50.00!! The Board is looking for ways to cut expenses and not services.

18. 2012-02-10
    historical 970-char remark

    Show marketing remark (970 chars)

    No stairs from the garage to the unit or inside the unit!! This is a very special condo. A beautiful foyer with built-in bookcases welcomes you home. To your left is a very large family room w/ full bath and access to a private patio. Your own laundry room (big enough for a full size freezer) has a private door to the garage and your nearby parking space. The very large master has it's own full bath and two very large walk-in closets. Another full bath services the other two bedrooms which also have good closets. The living room has a wall of cabinets for great storange and TV placement. A large area for a kitchen table and the U shaped cooking area with good storage and counter space makes cooking a pleasure. New AC installed 8/2011. The unit faces Fairmount and is very sunny and cheerful -Fairmount street noise is not audible in the unit. The maintenance fee has come DOWN close to $50.00!! The Board is looking for ways to cut expenses and not services.

19. 2011-03-12
    listed $139,900 970-char remark

    Show marketing remark (970 chars)

    No stairs from the garage to the unit or inside the unit!! This is a very special condo. A beautiful foyer with built-in bookcases welcomes you home. To your left is a very large family room w/ full bath and access to a private patio. Your own laundry room (big enough for a full size freezer) has a private door to the garage and your nearby parking space. The very large master has it's own full bath and two very large walk-in closets. Another full bath services the other two bedrooms which also have good closets. The living room has a wall of cabinets for great storange and TV placement. A large area for a kitchen table and the U shaped cooking area with good storage and counter space makes cooking a pleasure. New AC installed 8/2011. The unit faces Fairmount and is very sunny and cheerful -Fairmount street noise is not audible in the unit. The maintenance fee has come DOWN close to $50.00!! The Board is looking for ways to cut expenses and not services.

20. 2001-06-15
    soldstatus $131,000
21. 2001-02-02
    listed $139,900
22. 1992-11-30
    historical
23. 1992-09-03
    listed $179,500
24. 1990-10-10
    soldstatus $130,000
25. 1990-10-01
    soldstatus $130,000
26. 1990-07-03
    soldstatus $121,466

ⓘ 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: $6,405 · $534/mo
• Projected year-2 tax: $6,405 · $534/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $27,695
• − Mortgage interest: −$10,027
• − Property taxes: −$6,405
• − Insurance: −$895
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − HOA: −$9,780
• − Depreciation: −$5,207
• Taxable loss: −$9,050
• Est. tax savings @ 24.0%: +$2,172
• After-tax cash flow: $-4,293/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: Shaker Heights City
• NCES district ID: 3904475
• Math proficiency: 50% ▼ -16.00%
• Reading proficiency: 63% ▼ -6.00%
• Median HH income: $69,421
• Composite: 49.98/100
• National rank: #1928
• State rank: #309 of 656 in OH

Livability — Shaker Heights

• Score: 89/100
• State rank: #15
• US rank: #134

Category grades

Amenities F Commute A+ Cost of living A Crime A+ Employment A+ Housing A+ Health & safety B- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shaker Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 69,880
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 40,715
• Household income: $77,555
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1847.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 57% Black 33% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -319.62%
• Current HPI: 204.5504
• Rent YoY: ▲ 5.70%
• 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

+47.4% since first listed

13 events — show timeline

• 2026-05-16 Price Changed $179,000 MLSNOW
• 2026-04-16 Price Changed $185,000 MLSNOW
• 2026-03-17 Listed $195,000 MLSNOW
• 2012-02-29 Sold (MLS) $115,000 MLSNOW
• 2012-02-10 Listing Removed — MLSNOW
• 2011-03-12 Listed $139,900 MLSNOW
• 2001-06-15 Sold (MLS) $131,000 MLSNOW
• 2001-02-02 Listed $139,900 MLSNOW
• 1992-11-30 Listing Removed — MLSNOW
• 1992-09-03 Listed $179,500 MLSNOW
• 1990-10-10 Sold (Public Records) $130,000 Public Records
• 1990-10-01 Sold (Public Records) $130,000 Public Records
• 1990-07-03 Sold (Public Records) $121,466 Public Records

Property tax history

+3.1%/yr

Latest (2025): $6,405 · +13.4% YoY. Source: county tax records.