1546 Glenmont Rd · East Cleveland, OH 44118

$175,000

4 bd · 2.0 ba · 2,459 sqft · MultiFamily public records · 283 Days on market

Built 1913 4,199 sqft lot $71/sqft · 27% below area Est $240k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Check out this Colonial style 3-unit property situated on the East Cleveland-Cleveland Heights border. Property is legally zoned as a 3-family structure. Property offers two units with identical layouts and 3rd floor efficiency unit with 1 full bathroom and kitchen. With a little TLC this property has great cash flow potential. Lower unit is occupied at $900.00 MTM. Photos are of 3rd floor unit only. buyer will need to assume POS violations per City of East Cleveland requirements.

Key facts

• 4,199 sq ft lot
• Parking
• Built 1913

What this means for you Summary

Snapshot

• This is a 2×4bd/3.0ba + 1×1bd/1.0ba units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $859/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.0% vs local median 17.4% in East Cleveland — 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 66/100 on livability (#650 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools F, crime F, employment F.
• East Cleveland City School District (suburban): math 4% / reading 17% proficiency, ranked #652 of 656 in OH (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.7%/yr); 253 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $4,740/mo this rent would consume 73% of the median local household income ($78k/yr) (locally 1847% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $49k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 283 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $27k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $128k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 283 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 2.71% ✓
• Cap rate: 23.96%
• Cash-on-cash: 63.11%
• DSCR: 3.81
• GRM: 3.1

CMA / ARV

• ARV (median comp): $239,504
• List price: $175,000
• Delta: -26.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1570 Belmar Rd	0.09mi	4/2.0	2,234 (-9%)	12mo	$47,000	$21	70
1617 Hillcrest Rd	0.24mi	4/2.0	2,766 (+12%)	14mo	$140,000	$51	56
2614 Hampshire Rd	0.73mi	5/2.0 (+1)	2,367 (-4%)	2mo	$315,000	$133	54
2631 Hampshire Rd	0.68mi	5/3.0 (+1)	2,680 (+9%)	1mo	$269,000	$100	43
1643 Hillcrest Rd	0.28mi	5/3.0 (+1)	2,729 (+11%)	21mo	$160,000	$59	43
2627 Hampshire Rd	0.69mi	5/3.0 (+1)	2,684 (+9%)	1mo	$289,000	$108	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 65.1%
• Equity multiple: 4.04×
• Total profit: $149,036
• Equity at exit: $26,093

10-year hold

• IRR: 70.3%
• Equity multiple: 9.14×
• Total profit: $398,657
• Equity at exit: $15,131

Cash invested: $49,000 (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: 7.9×

Monthly cashflow live

• Estimated rent: $4,740 high
• Mortgage (P&I): −$918
• Tax from tax record: −$177 /mo · $2,125/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$995
• Net cashflow: $2,577

Break-even live

Break-even rent $1,478

Max offer price $175,000

Occupancy floor 41%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	3	$3,702
1× unit	1	1	$1,038
Total (3 units)			$4,740

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2827 Avondale Ave Apt 2 Cleveland Heights, OH	3.0	1.0	1680	$1,275	$0.76	24d	1	0.13mi
1641 Coventry Rd Cleveland, OH	3.0	1.0	1848	$1,200	$0.65	16d	1	0.16mi
1796 Cumberland Rd Cleveland Heights, OH	4.0	2.5	2100	$1,800	$0.86	17d	1	0.78mi
2580 Overlook Rd Cleveland, OH	3.0	1.0–2.0	1125	$1,740	$1.55	2d	12	0.79mi
3230 Euclid Heights Blvd Unit NA Cleveland Heights, OH	4.0	1.0	1705	$2,270	$1.33	24d	1	0.89mi
1229 Melbourne Rd Cleveland, OH	5.0	1.5	1600	$2,000	$1.25	44d	1	0.99mi
12314 Mayfield Rd Cleveland, OH	3.0	2.5	2033	$3,859	$1.90	3d	9	1.05mi
3355 Desota Ave Cleveland, OH	5.0	2.0	2540	$2,031	$0.80	7d	1	1.13mi
12908 Cedar Rd Cleveland, OH	5.0	1.5	1650	$2,600	$1.58	20d	1	1.13mi
2460 Euclid Heights Blvd Cleveland, OH	5.0	2.0	2216	$600	$0.27	16d	1	1.14mi
3062 E Derbyshire Rd Cleveland, OH	3.0	1.0	1650	$3,000	$1.82	24d	1	1.15mi
15801 Hazel Rd Cleveland, OH	3.0	1.5	1908	$1,550	$0.81	16d	1	1.16mi
13108 Cedar Rd Cleveland, OH	4.0	2.0	2116	$1,500	$0.71	24d	1	1.27mi
13108 Cedar Rd Unit 13108 Cleveland Heights, OH	4.0	2.0	2116	$1,450	$0.69	24d	1	1.27mi
3428 Superior Park Dr Cleveland Heights, OH	3.0	2.0	1704	$1,325	$0.78	21d	1	1.39mi
910 Dresden Rd Cleveland, OH	4.0	2.0	1839	$1,800	$0.98	16d	1	1.48mi
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	44d	1	1.50mi

Listing history 29 events

1. 2026-06-18
   days on market $175,000 Active 283 DOM
2. 2026-06-17
   days on market $175,000 Active 282 DOM
3. 2026-06-16
   days on market $175,000 Active 281 DOM
4. 2026-06-15
   days on market $175,000 Active 280 DOM
5. 2026-06-13
   days on market $175,000 Active 278 DOM
6. 2026-06-13
   days on market $175,000 Active 277 DOM
7. 2026-06-09
   days on market $175,000 Active 274 DOM
8. 2026-06-08
   days on market $175,000 Active 273 DOM
9. 2026-06-07
   days on market $175,000 Active 272 DOM
10. 2026-06-05
    price $175,000 Active 269 DOM
11. 2026-06-03
    days on market $189,000 Active 269 DOM
12. 2026-06-02
    days on market $189,000 Active 268 DOM
13. 2026-06-01
    days on market $189,000 Active 267 DOM
14. 2026-05-31
    days on market $189,000 Active 266 DOM
15. 2025-12-05
    price $189,000 485-char remark

    Show marketing remark (485 chars)

    Check out this Colonial style 3-unit property situated on the East Cleveland-Cleveland Heights border. Property is legally zoned as a 3-family structure. Property offers two units with identical layouts and 3rd floor efficiency unit with 1 full bathroom and kitchen. With a little TLC this property has great cash flow potential. Lower unit is occupied at $900.00 MTM. Photos are of 3rd floor unit only. buyer will need to assume POS violations per City of East Cleveland requirements.

16. 2025-09-05
    listed $202,000 Active 485-char remark

    Show marketing remark (485 chars)

    Check out this Colonial style 3-unit property situated on the East Cleveland-Cleveland Heights border. Property is legally zoned as a 3-family structure. Property offers two units with identical layouts and 3rd floor efficiency unit with 1 full bathroom and kitchen. With a little TLC this property has great cash flow potential. Lower unit is occupied at $900.00 MTM. Photos are of 3rd floor unit only. buyer will need to assume POS violations per City of East Cleveland requirements.

17. 2025-04-25
    historical $650
18. 2025-03-28
    listed $650
19. 2019-09-12
    soldstatus $127,500
20. 2019-09-10
    soldstatus $127,500 Closed 718-char remark

    Show marketing remark (718 chars)

    Investors! 9.5% CAP RATE! Turnkey Fully rented Three Family home is a cash flowing machine! Almost totally renovated three years ago when the following was done: New electric, plumbing, glass block windows, Kitchens, Baths, Furnaces, Hot water tanks, flooring, lighting, appliances, exterior paint. Remodel was done in 2016 and all 3 Suites have separate in-suite laundry and all utilities (except garbage) are paid by tenants including gas, electric water and sewer. Trash is paid by tenants. All appliances belong to seller including Washers and Dryers in each unit. Located less than 10 -15 minutes to downtown, CWRU, Cleveland Clinic, hospitals & University Circle. Amazing opportunity to just collect rents!

21. 2019-07-29
    status Pending 718-char remark

    Show marketing remark (718 chars)

    Investors! 9.5% CAP RATE! Turnkey Fully rented Three Family home is a cash flowing machine! Almost totally renovated three years ago when the following was done: New electric, plumbing, glass block windows, Kitchens, Baths, Furnaces, Hot water tanks, flooring, lighting, appliances, exterior paint. Remodel was done in 2016 and all 3 Suites have separate in-suite laundry and all utilities (except garbage) are paid by tenants including gas, electric water and sewer. Trash is paid by tenants. All appliances belong to seller including Washers and Dryers in each unit. Located less than 10 -15 minutes to downtown, CWRU, Cleveland Clinic, hospitals & University Circle. Amazing opportunity to just collect rents!

22. 2019-07-05
    historical Contingent 718-char remark

    Show marketing remark (718 chars)

    Investors! 9.5% CAP RATE! Turnkey Fully rented Three Family home is a cash flowing machine! Almost totally renovated three years ago when the following was done: New electric, plumbing, glass block windows, Kitchens, Baths, Furnaces, Hot water tanks, flooring, lighting, appliances, exterior paint. Remodel was done in 2016 and all 3 Suites have separate in-suite laundry and all utilities (except garbage) are paid by tenants including gas, electric water and sewer. Trash is paid by tenants. All appliances belong to seller including Washers and Dryers in each unit. Located less than 10 -15 minutes to downtown, CWRU, Cleveland Clinic, hospitals & University Circle. Amazing opportunity to just collect rents!

23. 2019-05-30
    status Active 718-char remark

    Show marketing remark (718 chars)

    Investors! 9.5% CAP RATE! Turnkey Fully rented Three Family home is a cash flowing machine! Almost totally renovated three years ago when the following was done: New electric, plumbing, glass block windows, Kitchens, Baths, Furnaces, Hot water tanks, flooring, lighting, appliances, exterior paint. Remodel was done in 2016 and all 3 Suites have separate in-suite laundry and all utilities (except garbage) are paid by tenants including gas, electric water and sewer. Trash is paid by tenants. All appliances belong to seller including Washers and Dryers in each unit. Located less than 10 -15 minutes to downtown, CWRU, Cleveland Clinic, hospitals & University Circle. Amazing opportunity to just collect rents!

24. 2019-03-28
    historical Contingent 718-char remark

    Show marketing remark (718 chars)

    Investors! 9.5% CAP RATE! Turnkey Fully rented Three Family home is a cash flowing machine! Almost totally renovated three years ago when the following was done: New electric, plumbing, glass block windows, Kitchens, Baths, Furnaces, Hot water tanks, flooring, lighting, appliances, exterior paint. Remodel was done in 2016 and all 3 Suites have separate in-suite laundry and all utilities (except garbage) are paid by tenants including gas, electric water and sewer. Trash is paid by tenants. All appliances belong to seller including Washers and Dryers in each unit. Located less than 10 -15 minutes to downtown, CWRU, Cleveland Clinic, hospitals & University Circle. Amazing opportunity to just collect rents!

25. 2019-03-14
    price $150,000 718-char remark

    Show marketing remark (718 chars)

    Investors! 9.5% CAP RATE! Turnkey Fully rented Three Family home is a cash flowing machine! Almost totally renovated three years ago when the following was done: New electric, plumbing, glass block windows, Kitchens, Baths, Furnaces, Hot water tanks, flooring, lighting, appliances, exterior paint. Remodel was done in 2016 and all 3 Suites have separate in-suite laundry and all utilities (except garbage) are paid by tenants including gas, electric water and sewer. Trash is paid by tenants. All appliances belong to seller including Washers and Dryers in each unit. Located less than 10 -15 minutes to downtown, CWRU, Cleveland Clinic, hospitals & University Circle. Amazing opportunity to just collect rents!

26. 2019-02-05
    listed $180,000 Active 718-char remark

    Show marketing remark (718 chars)

    Investors! 9.5% CAP RATE! Turnkey Fully rented Three Family home is a cash flowing machine! Almost totally renovated three years ago when the following was done: New electric, plumbing, glass block windows, Kitchens, Baths, Furnaces, Hot water tanks, flooring, lighting, appliances, exterior paint. Remodel was done in 2016 and all 3 Suites have separate in-suite laundry and all utilities (except garbage) are paid by tenants including gas, electric water and sewer. Trash is paid by tenants. All appliances belong to seller including Washers and Dryers in each unit. Located less than 10 -15 minutes to downtown, CWRU, Cleveland Clinic, hospitals & University Circle. Amazing opportunity to just collect rents!

27. 1994-10-19
    soldstatus $67,000
28. 1984-03-13
    soldstatus $48,000
29. 1984-03-13
    soldstatus $48,000

ⓘ 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: $2,125 · $177/mo
• Projected year-2 tax: $2,427 · $202/mo
• Expected delta: +$303/yr (+$25/mo · 14.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,880
• − Mortgage interest: −$9,803
• − Property taxes: −$2,125
• − Insurance: −$875
• − Repairs & maintenance: −$4,550
• − Management: −$4,550
• − Depreciation: −$5,091
• Taxable income: $29,886
• Est. tax owed @ 24.0%: −$7,173
• After-tax cash flow: $23,750/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: East Cleveland City School District
• NCES district ID: 3904390
• Math proficiency: 4% ▼ -16.00%
• Reading proficiency: 17% ▼ -13.00%
• Median HH income: $22,726
• Composite: 7.38/100
• National rank: #9954
• State rank: #652 of 656 in OH

Livability — East Cleveland

• Score: 66/100
• State rank: #650
• US rank: #11510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Cleveland, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 17,848
• 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

+293.8% since first listed

15 events — show timeline

• 2025-12-05 Price Changed $189,000 MLSNOW
• 2025-09-05 Listed $202,000 MLSNOW
• 2025-04-25 Rental Removed $650 RENTALBEAST
• 2025-03-28 Listed for Rent $650 RENTALBEAST
• 2019-09-12 Sold (Public Records) $127,500 Public Records
• 2019-09-10 Sold (MLS) $127,500 MLSNOW
• 2019-07-29 Pending — MLSNOW
• 2019-07-05 Contingent — MLSNOW
• 2019-05-30 Relisted — MLSNOW
• 2019-03-28 Contingent — MLSNOW
• 2019-03-14 Price Changed $150,000 MLSNOW
• 2019-02-05 Listed $180,000 MLSNOW
• 1994-10-19 Sold (Public Records) $67,000 Public Records
• 1984-03-13 Sold (Public Records) $48,000 Public Records
• 1984-03-13 Sold (Public Records) $48,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,125 · +0.0% YoY. Source: county tax records.