16100 Van Aken Blvd #308 · Shaker Heights, OH 44120

$71,400

2 bd · 2.0 ba · 1,056 sqft · Condo public records · 61 Days on market

Built 1958 $68/sqft · 7% above area Est $67k · 7% over $461/mo HOA · 31% of rent

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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 +28.3/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +4.5/5.0
• ARV discount +4.4/15.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this well maintained third floor condo that has everything you need, including two spacious bedrooms, two full bathrooms, and plenty of storage. A welcoming living room that provides tranquility and a kitchen offering plenty of cabinet space (Kitchen appliances are included). Don't miss out! Schedule your showing now!

Key facts

• $461 HOA
• Garage
• Built 1958

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $71k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $71k).
• Recommended offer: $67k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 2.5% in Shaker Heights — 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 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 (+3.3%/yr); 125 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 37% of the median local income ($47k/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 $494 of loan paydown is wiped out by about $2k 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 + 3.3% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $71k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,116 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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 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?
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: 2.05% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.75%
• DSCR: 1.61
• GRM: 4.1

CMA / ARV

• ARV (median comp): $66,816
• List price: $71,400
• Delta: 6.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.34% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $3,812
• Equity at exit: $10,646

10-year hold

• IRR: 15.1%
• Equity multiple: 2.27×
• Total profit: $25,364
• Equity at exit: $6,173

Cash invested: $19,992 (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 44120

• Rents YoY: 3.3%
• Active inventory: 125
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,467 high
• Mortgage (P&I): −$374
• Tax from tax record: −$65 /mo · $777/yr
• Insurance: −$30
• HOA: −$461
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $229

Break-even live

Break-even rent $1,177

Max offer price $71,400

Occupancy floor 79%

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: $17,850
• Closing costs: $2,142
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16015 Van Aken Blvd Cleveland, OH	2.0–4.0	2.0	1360	$1,195	$0.88	7d	4	0.10mi
15810 Van Aken Blvd Unit 306 Shaker Heights, OH	2.0	1.0	980	$1,300	$1.33	4d	1	0.14mi
3656 Chelton Rd Cleveland, OH	2.0	1.0	1200	$1,300	$1.08	43d	1	0.41mi
17014 Kenyon Rd Unit Down Shaker Heights, OH	2.0	1.0	900	$1,200	$1.33	2d	1	0.42mi
3348 Colwyn Rd Cleveland, OH	3.0	1.0	1330	$1,199	$0.90	23d	1	0.43mi
3440 Avalon Rd Cleveland, OH	2.0	1.0	1247	$1,300	$1.04	43d	1	0.45mi
3658 Strathavon Rd Unit 1 Shaker Heights, OH	2.0	1.0	1175	$1,685	$1.43	23d	1	0.52mi
3698 Menlo Rd Unit 3700 Shaker Heights, OH	2.0	1.0	1079	$1,360	$1.26	43d	1	0.53mi
17424 Winslow Rd Unit DN unit Shaker Heights, OH	2.0	1.0	1245	$1,700	$1.37	23d	1	0.57mi
3536 Normandy Rd Unit Vacant Shaker Heights, OH	3.0	1.0	1216	$1,600	$1.32	23d	1	0.60mi
3540 Normandy Rd Unit 1 Shaker Heights, OH	2.0	1.0	1200	$2,600	$2.17	43d	1	0.60mi
3719 Rolliston Rd Cleveland, OH	3.0	2.0	1458	$1,910	$1.31	43d	1	0.60mi
16320 Scottsdale Blvd Apt 2 Shaker Heights, OH	2.0	1.0	816	$1,365	$1.67	23d	1	0.60mi
17612 Winslow Rd Apt 2 Shaker Heights, OH	2.0	1.0	1150	$2,700	$2.35	43d	1	0.60mi
17612 Winslow Rd Unit 1 Shaker Heights, OH	2.0	1.0	1150	$2,500	$2.17	43d	1	0.60mi
3580 Normandy Rd Cleveland, OH	2.0	1.0	1221	$1,375	$1.13	16d	1	0.63mi
15602 Scottsdale Blvd Cleveland, OH	3.0	1.5	1162	$1,665	$1.43	43d	1	0.63mi
17800 Winslow Rd Shaker Heights, OH	3.0	1.0	1120	$2,000	$1.79	11d	1	0.71mi
3584 Palmerston Rd Unit down Shaker Heights, OH	3.0	1.0	1220	$1,600	$1.31	43d	1	0.74mi
18033 Chagrin Blvd Unit 2 Shaker Heights, OH	2.0	1.0	1200	$2,750	$2.29	1d	1	0.83mi
3609 Strandhill Rd Shaker Heights, OH	2.0	1.0	1080	$1,195	$1.11	23d	1	0.85mi
18231 Winslow Rd Unit Down Shaker Heights, OH	2.0	1.0	1192	$1,375	$1.15	17d	1	0.88mi
18313 Newell Rd Beachwood, OH	3.0	1.0	1318	$1,395	$1.06	44d	1	0.88mi
3625 Glencairn Rd Unit 1 Shaker Heights, OH	2.0	1.0	1450	$1,450	$1.00	43d	1	0.93mi
3559 Gridley Rd Unit Up Shaker Heights, OH	2.0	1.0	950	$1,495	$1.57	43d	1	0.95mi
3554 Latimore Rd Unit 1 Shaker Heights, OH	2.0	1.0	1218	$1,500	$1.23	4d	1	0.98mi
3653 Winchell Rd Unit Lower Shaker Heights, OH	2.0	1.0	1190	$1,450	$1.22	44d	1	1.12mi
19333 Van Aken Blvd Shaker Heights, OH	3.0	2.0	1500	$2,075	$1.38	43d	1	1.30mi
3886 E 188th St Cleveland, OH	3.0	1.0	1060	$1,800	$1.70	4d	1	1.32mi
19606 Van Aken Blvd Shaker Heights, OH	1.0	1.0	900	$1,165	$1.29	16d	1	1.35mi
19601 Van Aken Blvd Shaker Heights, OH	1.0–4.0	1.0–4.0	1977	$2,523	$1.28	21d	1	1.38mi
13419 S Woodland Rd #7 Cleveland, OH	2.0	1.0	1328	$1,150	$0.87	43d	1	1.38mi
14014 Shaker Blvd Apt 305 Shaker Heights, OH	3.0	2.0	1224	$1,430	$1.17	4d	1	1.44mi
2879 Ludlow Rd Unit 3 Cleveland, OH	1.0	1.0	900	$1,095	$1.22	43d	1	1.45mi
3073 Fairmount Blvd Unit 1288914P Cleveland Heights, OH	1.0	1.0	839	$4,645	$5.54	1d	1	1.50mi

HOA detail condo

• Monthly dues: $461 · $5,532/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $71,400 Active 61 DOM
2. 2026-06-17
   days on market $71,400 Active 60 DOM
3. 2026-06-16
   days on market $71,400 Active 59 DOM
4. 2026-06-15
   days on market $71,400 Active 58 DOM
5. 2026-06-13
   days on market $71,400 Active 56 DOM
6. 2026-06-13
   days on market $71,400 Active 55 DOM
7. 2026-06-09
   days on market $71,400 Active 52 DOM
8. 2026-06-08
   days on market $71,400 Active 51 DOM
9. 2026-06-07
   days on market $71,400 Active 50 DOM
10. 2026-06-03
    days on market $71,400 Active 46 DOM
11. 2026-06-02
    days on market $71,400 Active 45 DOM
12. 2026-06-01
    days on market $71,400 Active 44 DOM
13. 2026-05-31
    days on market $71,400 Active 43 DOM
14. 2026-04-18
    listed $71,400 Active 328-char remark

    Show marketing remark (328 chars)

    Come see this well maintained third floor condo that has everything you need, including two spacious bedrooms, two full bathrooms, and plenty of storage. A welcoming living room that provides tranquility and a kitchen offering plenty of cabinet space (Kitchen appliances are included). Don't miss out! Schedule your showing now!

15. 1986-10-22
    soldstatus $40,000

ⓘ 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: $777 · $65/mo
• Projected year-2 tax: $945 · $79/mo
• Expected delta: +$168/yr (+$14/mo · 21.7%)

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

Taxation est. · year 1

• Rental income: $17,605
• − Mortgage interest: −$4,000
• − Property taxes: −$777
• − Insurance: −$357
• − Repairs & maintenance: −$1,408
• − Management: −$1,408
• − HOA: −$5,532
• − Depreciation: −$2,077
• Taxable income: $2,045
• Est. tax owed @ 24.0%: −$491
• After-tax cash flow: $2,258/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): 33,202
• Household income: $47,126
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2289.0

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 Black (68%)
• Race & ethnicity: Black 68% White 21% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 5% · China, Canada
• Languages at home: 93% English-only · Spanish 2% Chinese 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: ▼ -201.50%
• Current HPI: 108.2487
• Rent YoY: ▲ 3.34%
• 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

+78.5% since first listed

2 events — show timeline

• 2026-04-18 Listed $71,400 MLSNOW
• 1986-10-22 Sold (Public Records) $40,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $777 · +8.8% YoY. Source: county tax records.