3279 Warrensville Center Rd Unit 15D · Shaker Heights, OH 44122

$85,000

2 bd · 1.5 ba · 984 sqft · Condo public records · 2 Days on market

Built 1955 $640/mo HOA · 44% 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).

• 1% rule +10.0/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just move in and enjoy - newer appliance have never been used - ceramic tile floors in Kitchen, Foyer and dining area. Master bedroom with walk in closet - Hook up for washer and dryer in kitchen - 1 car garage with access through the lower level of building.

Key facts

• $640 HOA
• Garage
• Built 1955

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association (Shaker Gardens Condominium Association); Monthly HOA fee of $640; HOA covers association management, insurance, grounds and structure maintenance, parking, sewer, snow removal, trash and water

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-story property; Entry level: 1
• Construction: Brick construction; Composition roof; Built per public records
• Exterior features: Nearly 1.92-acre lot

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom; One half bathroom; Two main-level bathrooms
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Six total rooms
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $66k (22.0% below list).
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $66k (22.0% below list) — sets the bar for cash-flow.
• Cap rate 4.8% 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: crime A+, commute A+, employment 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.
• Zoned schools: Mercer Elementary School (math 62% / reading 57%, grade B-, #670 of 1,584 statewide, top 45%, 307 students, 27% FRL); Shaker Hts Middle School (math 49% / reading 56%, grade C+, #378 of 654 statewide, top 59%, 651 students, 30% FRL); Shaker Hts High School (math 34% / reading 70%, grade D+, #343 of 781 statewide, top 47%, 1,498 students, 24% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: Rents rising (+1.1%/yr); 183 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• This rent is only 17% of the median local income ($101k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 33y 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 $20k; list at $85k implies a 336% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,313 (22.0% 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. Built in 1955 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.72% ✓
• Cap rate: 4.80%
• Cash-on-cash: -5.33%
• DSCR: 0.76
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.15% rent growth · sell at horizon

5-year hold

• IRR: -29.7%
• Equity multiple: 0.04×
• Total profit: $-22,749
• Equity at exit: $12,674

10-year hold

• IRR: -59.1%
• Equity multiple: -0.57×
• Total profit: $-37,286
• Equity at exit: $7,349

Cash invested: $23,800 (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 44122

• Rents YoY: 1.1%
• Active inventory: 183
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$446
• Tax from tax record: −$141 /mo · $1,687/yr
• Insurance: −$35
• HOA: −$640
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-106

Break-even live

Break-even rent $1,597

Max offer price $66,313

Occupancy floor —

Sensitivity live

Price	-10% $-58	-5% $-82	+0% $-106	+5% $-130	+10% $-154
Rent	-10% $-221	-5% $-164	+0% $-106	+5% $-48	+10% $10
Rate	-1.0pp $-63	-0.5pp $-84	base $-106	+0.5pp $-128	+1.0pp $-150

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3279 Warrensville Center Rd Unit 15D Shaker Heights, OH	2.0	1.5	985	$1,400	$1.42	45d	1	0.03mi
3290 Warrensville Center Rd Shaker Heights, OH	1.0–2.0	1.0–2.0	1150	$1,575	$1.37	45d	3	0.05mi
3310 Warrensville Center Rd Unit MT-403 Shaker Heights, OH	1.0	1.0	759	$1,100	$1.45	9d	1	0.05mi
3310 Warrensville Center Rd Shaker Heights, OH	2.0	1.0–1.5	1052	$1,275	$1.21	9d	2	0.05mi
3310 Warrensville Center Rd Shaker Heights, OH	1.0–2.0	1.0–2.0	998	$1,250	$1.25	25d	2	0.05mi
3255 Warrensville Center Rd Shaker Heights, OH	2.0	1.0	900	$1,400	$1.56	45d	1	0.08mi
3210 Warrensville Center Rd Shaker Heights, OH	1.0–3.0	1.0–2.0	1253	$1,500	$1.20	3d	3	0.10mi
3208 Warrensville Center Rd Shaker Heights, OH	1.0–3.0	1.0–2.0	1145	$1,475	$1.29	3d	1	0.11mi
3363 Warrensville Center Rd Shaker Heights, OH	1.0	1.0	723	$995	$1.38	16d	1	0.13mi
20005 Farnsleigh Rd Shaker Heights, OH	1.0–3.0	1.0–3.5	1407	$5,045	$3.58	3d	8	0.22mi
19601 Van Aken Blvd Shaker Heights, OH	1.0–4.0	1.0–4.0	1977	$2,523	$1.28	23d	1	0.34mi
20835 Chagrin Blvd Shaker Heights, OH	2.0	1.0	897	$1,250	$1.39	25d	1	0.38mi
20835 Chagrin Blvd Unit 35-5 Shaker Heights, OH	2.0	1.0	897	$1,250	$1.39	9d	1	0.38mi
20835 Chagrin Blvd Shaker Heights, OH	2.0	1.0	897	$1,250	$1.39	45d	1	0.38mi
20865 Chagrin Blvd Unit 2 Shaker Heights, OH	2.0	1.0	987	$1,118	$1.13	45d	1	0.39mi
20865 Chagrin Blvd Unit 5 Shaker Heights, OH	2.0	1.0	897	$1,250	$1.39	45d	1	0.39mi
20865 Chagrin Blvd Shaker Heights, OH	1.0	1.0	897	$1,150	$1.28	45d	1	0.39mi
20865 Chagrin Blvd Unit 3 Shaker Heights, OH	1.0	1.0	723	$900	$1.24	45d	1	0.39mi
20865 Chagrin Blvd Shaker Heights, OH	1.0	1.0	897	$1,250	$1.39	25d	1	0.39mi
20865 Chagrin Blvd Unit CH-65-2 Shaker Heights, OH	1.0	1.0	897	$1,250	$1.39	14d	1	0.39mi
20865 Chagrin Blvd Shaker Heights, OH	2.0	1.0	897	$1,195	$1.33	46d	1	0.39mi
19606 Van Aken Blvd Shaker Heights, OH	1.0	1.0	900	$1,165	$1.29	18d	1	0.41mi
3715 Warrensville Center Rd Beachwood, OH	1.0	1.0	840	$939	$1.12	18d	1	0.78mi
3733 Warrensville Center Rd Shaker Heights, OH	1.0	1.0	577	$988	$1.71	45d	3	0.87mi
3559 Gridley Rd Unit Up Shaker Heights, OH	2.0	1.0	950	$1,495	$1.57	45d	1	0.89mi
20301 Shelburne Rd #9 Shaker Heights, OH	2.0	1.5	900	$1,850	$2.06	12d	1	0.99mi
20301 Shelburne Rd #8 Shaker Heights, OH	2.0	2.0	950	$1,850	$1.95	12d	1	0.99mi
20301 Shelburne Rd Unit 8B Shaker Heights, OH	2.0	2.0	945	$1,850	$1.96	3d	1	1.00mi
20301 Shelburne Rd Unit 9B Shaker Heights, OH	2.0	1.5	900	$1,850	$2.06	3d	1	1.00mi
17800 Winslow Rd Shaker Heights, OH	3.0	1.0	1120	$2,000	$1.79	13d	1	1.01mi
3609 Strandhill Rd Shaker Heights, OH	2.0	1.0	1080	$1,195	$1.11	25d	1	1.05mi
17612 Winslow Rd Apt 3 Shaker Heights, OH	1.0	1.0	600	$1,500	$2.50	45d	1	1.11mi
23220 Chagrin Blvd Beachwood, OH	1.0–3.0	1.0–2.5	1324	$2,600	$1.96	3d	54	1.14mi
3886 E 188th St Cleveland, OH	3.0	1.0	1060	$1,800	$1.70	6d	1	1.26mi
17014 Kenyon Rd Unit Down Shaker Heights, OH	2.0	1.0	900	$1,200	$1.33	3d	1	1.37mi

HOA detail condo

• Monthly dues: $640 · $7,680/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-21
   remarks 587-char remark
2. 2026-06-21
   listed $85,000 Active 2 DOM

ⓘ 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: $1,687 · $141/mo
• Projected year-2 tax: $1,687 · $141/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: $17,559
• − Mortgage interest: −$4,761
• − Property taxes: −$1,687
• − Insurance: −$425
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − HOA: −$7,680
• − Depreciation: −$2,473
• Taxable loss: −$2,276
• Est. tax savings @ 24.0%: +$546
• After-tax cash flow: $-723/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): 36,678
• Household income: $101,230
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1294.0

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 0.59)
• Race & ethnicity: White 56% Black 29% Asian 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Scotch-Irish 5% Italian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 85% English-only · Spanish 3% Other Indo-European 3% Chinese 2%

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: ▼ -268.81%
• Current HPI: 200.5087
• Rent YoY: ▲ 1.15%
• 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

+83.6% since first listed

27 events — show timeline

• 2026-06-19 Listed $85,000 MLSNOW
• 2026-04-08 Listing Removed — MLSNOW
• 2026-01-27 Listed for Rent $1,400 YESMLS
• 2026-01-16 Relisted — MLSNOW
• 2025-12-18 Contingent — MLSNOW
• 2025-07-23 Listed $89,000 MLSNOW
• 2012-06-22 Sold (Public Records) $19,500 Public Records
• 2012-06-22 Sold (MLS) $19,500 MLSNOW
• 2012-06-14 Listing Removed — MLSNOW
• 2011-07-20 Listed $23,900 MLSNOW
• 2008-10-17 Sold (MLS) $13,800 MLSNOW
• 2008-03-25 Listed $20,000 MLSNOW
• 2005-06-17 Listing Removed — MLSNOW
• 2005-03-30 Listing Removed — MLSNOW
• 2005-03-17 Listed $75,000 MLSNOW
• 2004-11-29 Listed $78,000 MLSNOW
• 1998-05-18 Sold (MLS) $56,500 MLSNOW
• 1998-05-11 Sold (Public Records) $56,000 Public Records
• 1998-04-30 Listing Removed — MLSNOW
• 1997-10-02 Listed $58,900 MLSNOW
• 1993-09-22 Sold (Public Records) $53,500 Public Records
• 1993-08-10 Listing Removed — MLSNOW
• 1993-02-10 Listed $54,900 MLSNOW
• 1987-08-14 Sold (Public Records) $51,000 Public Records
• 1983-07-01 Sold (Public Records) $50,000 Public Records
• 1980-09-17 Sold (Public Records) $50,500 Public Records
• 1978-05-01 Sold (Public Records) $46,300 Public Records

Property tax history

-2.1%/yr

Latest (2025): $1,687 · +13.7% YoY. Source: county tax records.