3356 Spangler Rd · Cleveland Heights, OH 44112

$156,900

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 35 Days on market

Built 1925 4,791 sqft lot $118/sqft · at area comps Est $161k · at est.

---

Why this score? — see what drove the C- 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 +19.7/30.0
• ARV discount +8.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• Livability +4.5/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Well-positioned colonial offering 3 bedrooms, 1 full bath, 4th bedroom capable on the third floor and 1,326 sq ft of practical living space. Built in 1925 with a traditional layout, this home features a covered front porch, enclosed porch, and rear deck. Multiple usable outdoor areas that buyers consistently value. Interior includes a functional floor plan with 8 total rooms, forced-air heat, and an unfinished basement (624 sq ft) for storage or future utility space. A Long driveway leads to a detached 2-car garage (400 sq ft, built 1987), solving a common parking issue in the area. This is a solid option for owner-occupants looking to build equity or investors targeting a stable rental in

Key facts

• Covered front porch
• Unfinished basement
• Enclosed porch

Tags

• COVERED FRONT PORCH
• ENCLOSED PORCH
• REAR DECK
• USABLE OUTDOOR AREAS
• FUNCTIONAL FLOOR PLAN
• UNFINISHED BASEMENT

Property features AI

Finance

• HOA & community: Access to public transportation

Exterior

• Parking: Detached 2-car garage on paved surface
• Utilities: Public water; Public sewer
• Home design: Two-story home; Above-grade finished area documented by assessor
• Construction: Aluminum and vinyl siding; Asphalt/fiberglass shingle roof
• Exterior features: Deck and porch; Chain link full fencing

Interior

• Kitchen: Kitchen on first floor
• Bedrooms: Two bedrooms located on the second (upper) level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Gas heating; Wall/window cooling units
• Interior features: Full basement; Window treatments throughout; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $157k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $152k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.4% in Cleveland 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 (#12 in OH, #124 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• 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 (+5.2%/yr); 99 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $1,625/mo this rent would consume 68% of the median local household income ($29k/yr) (locally 1702% 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 35y 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 $106k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,193 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.04%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

• ARV (median comp): $160,641
• List price: $156,900
• Delta: -2.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 Woodview Rd	0.21mi	3/1.0	1,309 (-1%)	1mo	$91,000	$70	87
965 Whitby Rd	0.17mi	3/1.0	1,355 (+2%)	2mo	$120,000	$89	87
945 Dresden Rd	0.29mi	3/1.0	1,344 (+1%)	3mo	$85,000	$63	82
1073 Woodview Rd	0.23mi	3/1.0	1,408 (+6%)	1mo	$175,000	$124	78
3570 Randolph Rd	0.56mi	3/1.0	1,286 (-3%)	1mo	$147,500	$115	68
952 Elbon Rd	0.32mi	3/2.0	1,222 (-8%)	2mo	$162,000	$133	66
953 Whitby Rd	0.19mi	2/1.5 (-1)	1,188 (-10%)	3mo	$145,000	$122	64
3639 Randolph Rd	0.61mi	3/1.0	1,248 (-6%)	2mo	$130,000	$104	61
1056 Quilliams Rd	0.63mi	3/1.5	1,396 (+5%)	2mo	$210,000	$150	58
994 Yellowstone Ave	0.47mi	3/2.0	1,190 (-10%)	2mo	$140,000	$118	55
3513 Boynton Rd	0.39mi	3/3.0	1,178 (-11%)	2mo	$268,900	$228	53
1163 Pennfield Rd	0.64mi	3/1.0	1,517 (+14%)	2mo	$45,000	$30	44

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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.77×
• Total profit: $-10,031
• Equity at exit: $23,394

10-year hold

• IRR: 6.1%
• Equity multiple: 1.50×
• Total profit: $22,004
• Equity at exit: $13,566

Cash invested: $43,932 (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 44112

• Rents YoY: 5.2%
• Active inventory: 99
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,625 high
• Mortgage (P&I): −$823
• Tax from tax record: −$211 /mo · $2,528/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $185

Break-even live

Break-even rent $1,391

Max offer price $156,900

Occupancy floor 84%

Sensitivity live

Price	-10% $273	-5% $229	+0% $185	+5% $140	+10% $96
Rent	-10% $56	-5% $120	+0% $185	+5% $249	+10% $313
Rate	-1.0pp $264	-0.5pp $224	base $185	+0.5pp $144	+1.0pp $103

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: $39,225
• Closing costs: $4,707
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
983 Greyton Rd Cleveland, OH	3.0	2.0	1457	$1,495	$1.03	16d	1	0.09mi
3430 Winsford Rd Cleveland, OH	4.0	1.5	1800	$1,590	$0.88	16d	1	0.15mi
3337 Sylvanhurst Rd Cleveland, OH	3.0	1.0	1334	$1,800	$1.35	8d	1	0.16mi
953 Whitby Rd Cleveland, OH	3.0	2.0	1188	$1,575	$1.33	24d	1	0.17mi
967 Selwyn Rd Cleveland, OH	3.0	1.5	1214	$1,595	$1.31	16d	1	0.19mi
963 Selwyn Rd Cleveland, OH	4.0	1.0	1300	$2,650	$2.04	2d	1	0.20mi
3406 Henderson Rd Cleveland, OH	4.0	1.5	1343	$2,250	$1.68	16d	1	0.21mi
915 Nela View Rd Cleveland, OH	4.0	1.0	1300	$2,600	$2.00	16d	1	0.22mi
1099 Woodview Rd Cleveland, OH	4.0	1.0	1500	$2,500	$1.67	2d	1	0.26mi
886 Helmsdale Rd Cleveland Heights, OH	2.0	1.0	1037	$995	$0.96	16d	1	0.29mi
1035 Elbon Rd Cleveland, OH	4.0	1.5	1304	$1,675	$1.28	16d	1	0.31mi
1007 Elbon Rd Cleveland, OH	3.0	1.0	1386	$1,400	$1.01	11d	1	0.31mi
910 Dresden Rd Cleveland, OH	4.0	2.0	1839	$1,800	$0.98	16d	1	0.37mi
876 Eloise Dr Unit Upper Cleveland Heights, OH	2.0	1.0	1233	$1,200	$0.97	16d	1	0.39mi
2401 N Taylor Rd Cleveland, OH	3.0	1.0	1347	$1,325	$0.98	8d	1	0.45mi
994 Yellowstone Rd Cleveland, OH	3.0	2.0	1475	$1,395	$0.95	2d	1	0.48mi
16000 Terrace Rd Cleveland, OH	1.0–3.0	1.0–2.0	1000	$1,210	$1.21	2d	39	0.71mi
3808 Kirkwood Rd Cleveland, OH	4.0	1.5	1740	$2,150	$1.24	15d	1	0.91mi
35 Severance Cir Cleveland Heights, OH	1.0–2.0	1.0–2.0	832	$1,570	$1.89	2d	26	0.93mi
3810 Parkdale Rd Cleveland, OH	3.0	1.5	1281	$2,067	$1.61	3d	1	0.99mi
1726 Taylor Rd East Cleveland, OH	2.0	1.0	900	$972	$1.08	44d	1	0.99mi
15421 Plymouth Pl East Cleveland, OH	2.0	1.0	950	$972	$1.02	44d	1	1.00mi
3917 Bluestone Rd Cleveland, OH	4.0	1.5	1700	$1,650	$0.97	21d	1	1.03mi
3755 Mayfield Rd Cleveland Heights, OH	1.0–2.0	1.0	800	$1,175	$1.47	24d	1	1.04mi
30 Severance Cir Cleveland Heights, OH	1.0–2.0	1.0–2.0	762	$1,700	$2.23	2d	18	1.10mi
3802 Princeton Blvd Cleveland, OH	3.0	1.5	1656	$2,275	$1.37	2d	1	1.13mi
1462 Parkhill Rd Cleveland, OH	4.0	1.0	1451	$1,950	$1.34	2d	1	1.16mi
2868 Noble Rd Unit 16 Cleveland Heights, OH	3.0	1.5	1200	$1,750	$1.46	2d	1	1.16mi
2868 Noble Rd Cleveland, OH	3.0	1.5	1200	$1,250	$1.04	24d	1	1.17mi
1286 E 152nd St Cleveland, OH	2.0	1.0	1638	$1,095	$0.67	44d	1	1.21mi
14813 Alder Ave Cleveland, OH	3.0	1.0	1188	$1,150	$0.97	24d	1	1.23mi
14312 Scioto Ave Cleveland, OH	3.0	1.0	1090	$1,300	$1.19	4d	1	1.24mi
1584 Maple Rd Cleveland, OH	3.0	2.0	1359	$1,700	$1.25	24d	1	1.29mi
14200 Scioto Ave Cleveland, OH	3.0	1.0	1256	$1,350	$1.07	16d	1	1.30mi
14205 Savannah Ave Cleveland, OH	3.0	1.0	1160	$1,350	$1.16	16d	1	1.33mi
3411 Beechwood Ave Unit 2nd floor Cleveland Heights, OH	3.0	1.0	1452	$1,687	$1.16	4d	1	1.34mi
14009 Mayfair Ave Unit 2 East Cleveland, OH	4.0	2.0	1144	$1,390	$1.22	44d	1	1.34mi
14120 Superior Rd Cleveland, OH	3.0	1.0	1390	$1,400	$1.01	44d	1	1.36mi
14005 Scioto Ave Cleveland, OH	3.0	1.0	1056	$1,570	$1.49	16d	1	1.36mi
1497 S Noble Rd Cleveland, OH	4.0	1.0	1250	$2,650	$2.12	2d	1	1.36mi

Listing history 22 events

1. 2026-06-08
   statusdays on market $156,900 Pending 35 DOM
2. 2026-06-07
   days on market $156,900 Active 34 DOM
3. 2026-06-05
   pricedays on market $156,900 Active 31 DOM
4. 2026-06-03
   days on market $159,900 Active 30 DOM
5. 2026-06-02
   days on market $159,900 Active 29 DOM
6. 2026-06-01
   days on market $159,900 Active 28 DOM
7. 2026-05-31
   days on market $159,900 Active 27 DOM
8. 2026-05-04
   listed $159,900 Active 754-char remark
9. 2008-04-15
   historical
10. 2008-03-12
    listed $34,900
11. 2008-02-23
    historical
12. 2008-01-22
    listed $39,900
13. 2007-12-13
    historical
14. 2007-09-27
    historical
15. 2007-06-13
    listed $120,000
16. 2007-03-26
    listed $132,000
17. 2002-12-04
    soldstatus $106,500
18. 2002-12-04
    soldstatus $106,500
19. 2002-10-24
    listed $98,000
20. 1991-11-29
    historical
21. 1991-05-28
    listed $59,900
22. 1974-05-01
    soldstatus $21,000

ⓘ 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: $2,528 · $211/mo
• Projected year-2 tax: $2,528 · $211/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% 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: $19,494
• − Mortgage interest: −$8,789
• − Property taxes: −$2,528
• − Insurance: −$784
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$4,564
• Taxable loss: −$290
• Est. tax savings @ 24.0%: +$70
• After-tax cash flow: $2,284/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 — Cleveland Heights

• Score: 89/100
• State rank: #12
• US rank: #124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 32,312
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 17,848
• Household income: $28,799
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1702.0

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 (89%)
• Race & ethnicity: Black 89% White 7% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 3% Spanish 2% Russian/Polish/Slavic 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: ▼ -115.61%
• Current HPI: 67.2162
• Rent YoY: ▲ 5.16%
• 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

+647.1% since first listed

17 events — show timeline

• 2026-06-08 Pending — MLSNOW
• 2026-06-04 Price Changed $156,900 MLSNOW
• 2026-05-04 Listed $159,900 MLSNOW
• 2008-04-15 Listing Removed — MLSNOW
• 2008-03-12 Listed $34,900 MLSNOW
• 2008-02-23 Listing Removed — MLSNOW
• 2008-01-22 Listed $39,900 MLSNOW
• 2007-12-13 Listing Removed — MLSNOW
• 2007-09-27 Listing Removed — MLSNOW
• 2007-06-13 Listed $120,000 MLSNOW
• 2007-03-26 Listed $132,000 MLSNOW
• 2002-12-04 Sold (Public Records) $106,500 Public Records
• 2002-12-04 Sold (MLS) $106,500 MLSNOW
• 2002-10-24 Listed $98,000 MLSNOW
• 1991-11-29 Listing Removed — MLSNOW
• 1991-05-28 Listed $59,900 MLSNOW
• 1974-05-01 Sold (Public Records) $21,000 Public Records

Property tax history

+0.1%/yr

Latest (2024): $2,528 · +8.0% YoY. Source: county tax records.