3710 Pennington Rd · Shaker Heights, OH 44120

$112,500

2 bd · 1.5 ba · 1,205 sqft · SingleFamily public records · 71 Days on market

Built 1941 4,369 sqft lot $93/sqft · 7% below area Est $121k · 7% 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 +23.8/30.0
• ARV discount +10.6/15.0
• 1% rule +8.3/10.0
• DSCR +7.7/10.0
• Schools +5.0/10.0
• Livability +4.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Shaker Heights bungalow with three bedrooms and 1.5 baths. 2nd floor has a bedroom and half bath. The basement is unfinished. Needs work. The city inspection to be ordered this week. Loads of potential. Easy to show.

Key facts

• 4,369 sq ft lot
• Garage
• Built 1941

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $106k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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; 28 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 38% 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 $778 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

• It's been on market 71 days — a 6% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 30y ago; this cycle's ask has dropped $27k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $112k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,750 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.26%
• DSCR: 1.37
• GRM: 6.3

CMA / ARV

• ARV (median comp): $120,716
• List price: $112,500
• Delta: -6.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15618 Scottsdale Blvd	0.10mi	3/1.5 (+1)	1,128 (-6%)	7mo	$165,000	$146	74
3666 Ludgate Rd	0.09mi	3/1.0 (+1)	1,324 (+10%)	8mo	$100,000	$76	65
15610 Scottsdale Blvd	0.11mi	3/3.0 (+1)	1,123 (-7%)	13mo	$184,000	$164	62
3558 Chelton Rd	0.33mi	3/1.5 (+1)	1,288 (+7%)	11mo	$159,000	$123	58
16717 Lomond Blvd	0.50mi	3/1.5 (+1)	1,304 (+8%)	8mo	$130,000	$100	52
3340 Milverton Rd	0.70mi	3/1.0 (+1)	1,268 (+5%)	7mo	$125,500	$99	46
3348 Milverton Rd	0.68mi	3/1.5 (+1)	1,384 (+15%)	6mo	$120,000	$87	34

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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-3,775
• Equity at exit: $16,774

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $17,158
• Equity at exit: $9,727

Cash invested: $31,500 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,491 high
• Mortgage (P&I): −$590
• Tax from tax record: −$324 /mo · $3,893/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $217

Break-even live

Break-even rent $1,217

Max offer price $112,500

Occupancy floor 80%

Sensitivity live

Price	-10% $280	-5% $249	+0% $217	+5% $185	+10% $153
Rent	-10% $99	-5% $158	+0% $217	+5% $276	+10% $335
Rate	-1.0pp $273	-0.5pp $245	base $217	+0.5pp $188	+1.0pp $158

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3698 Menlo Rd Unit 3700 Shaker Heights, OH	2.0	1.0	1079	$1,360	$1.26	44d	1	0.07mi
15602 Scottsdale Blvd Cleveland, OH	3.0	1.5	1162	$1,665	$1.43	44d	1	0.13mi
3656 Chelton Rd Cleveland, OH	2.0	1.0	1200	$1,300	$1.08	44d	1	0.20mi
16320 Scottsdale Blvd Apt 2 Shaker Heights, OH	2.0	1.0	816	$1,365	$1.67	24d	1	0.27mi
3719 Rolliston Rd Cleveland, OH	3.0	2.0	1458	$1,910	$1.31	44d	1	0.46mi
3658 Strathavon Rd Unit 1 Shaker Heights, OH	2.0	1.0	1175	$1,685	$1.43	24d	1	0.49mi
15810 Van Aken Blvd Unit 306 Shaker Heights, OH	2.0	1.0	980	$1,300	$1.33	5d	1	0.53mi
16015 Van Aken Blvd Cleveland, OH	2.0–4.0	2.0	1360	$1,195	$0.88	8d	4	0.59mi
17014 Kenyon Rd Unit Down Shaker Heights, OH	2.0	1.0	900	$1,200	$1.33	2d	1	0.60mi
3348 Colwyn Rd Cleveland, OH	3.0	1.0	1330	$1,199	$0.90	24d	1	0.70mi
3580 Normandy Rd Cleveland, OH	2.0	1.0	1221	$1,375	$1.13	17d	1	0.76mi
3440 Avalon Rd Cleveland, OH	2.0	1.0	1247	$1,300	$1.04	44d	1	0.76mi
3540 Normandy Rd Unit 1 Shaker Heights, OH	2.0	1.0	1200	$2,600	$2.17	44d	1	0.78mi
3536 Normandy Rd Unit Vacant Shaker Heights, OH	3.0	1.0	1216	$1,600	$1.32	24d	1	0.79mi
17424 Winslow Rd Unit DN unit Shaker Heights, OH	2.0	1.0	1245	$1,700	$1.37	24d	1	0.84mi
17612 Winslow Rd Unit 1 Shaker Heights, OH	2.0	1.0	1150	$2,500	$2.17	44d	1	0.87mi
17612 Winslow Rd Apt 2 Shaker Heights, OH	2.0	1.0	1150	$2,700	$2.35	44d	1	0.87mi
3584 Palmerston Rd Unit down Shaker Heights, OH	3.0	1.0	1220	$1,600	$1.31	44d	1	0.88mi
17800 Winslow Rd Shaker Heights, OH	3.0	1.0	1120	$2,000	$1.79	12d	1	0.96mi
3609 Strandhill Rd Shaker Heights, OH	2.0	1.0	1080	$1,195	$1.11	24d	1	0.96mi
3625 Glencairn Rd Unit 1 Shaker Heights, OH	2.0	1.0	1450	$1,450	$1.00	44d	1	1.03mi
18033 Chagrin Blvd Unit 2 Shaker Heights, OH	2.0	1.0	1200	$2,750	$2.29	2d	1	1.06mi
18313 Newell Rd Beachwood, OH	3.0	1.0	1318	$1,395	$1.06	45d	1	1.08mi
3559 Gridley Rd Unit Up Shaker Heights, OH	2.0	1.0	950	$1,495	$1.57	44d	1	1.11mi
18231 Winslow Rd Unit Down Shaker Heights, OH	2.0	1.0	1192	$1,375	$1.15	18d	1	1.13mi
3554 Latimore Rd Unit 1 Shaker Heights, OH	2.0	1.0	1218	$1,500	$1.23	4d	1	1.14mi
3653 Winchell Rd Unit Lower Shaker Heights, OH	2.0	1.0	1190	$1,450	$1.22	45d	1	1.21mi
3886 E 188th St Cleveland, OH	3.0	1.0	1060	$1,800	$1.70	5d	1	1.24mi

Listing history 38 events

1. 2026-06-18
   days on market $112,500 Active 71 DOM
2. 2026-06-17
   days on market $112,500 Active 70 DOM
3. 2026-06-16
   days on market $112,500 Active 69 DOM
4. 2026-06-15
   days on market $112,500 Active 68 DOM
5. 2026-06-13
   days on market $112,500 Active 66 DOM
6. 2026-06-13
   days on market $112,500 Active 65 DOM
7. 2026-06-09
   days on market $112,500 Active 62 DOM
8. 2026-06-08
   days on market $112,500 Active 61 DOM
9. 2026-06-08
   price $112,500 Active 60 DOM
10. 2026-06-07
    days on market $119,900 Active 60 DOM
11. 2026-06-03
    days on market $119,900 Active 56 DOM
12. 2026-06-02
    days on market $119,900 Active 55 DOM
13. 2026-06-01
    days on market $119,900 Active 54 DOM
14. 2026-05-31
    days on market $119,900 Active 53 DOM
15. 2026-05-18
    price $129,900 216-char remark

    Show marketing remark (216 chars)

    Shaker Heights bungalow with three bedrooms and 1.5 baths. 2nd floor has a bedroom and half bath. The basement is unfinished. Needs work. The city inspection to be ordered this week. Loads of potential. Easy to show.

16. 2026-05-11
    price $135,000 216-char remark

    Show marketing remark (216 chars)

    Shaker Heights bungalow with three bedrooms and 1.5 baths. 2nd floor has a bedroom and half bath. The basement is unfinished. Needs work. The city inspection to be ordered this week. Loads of potential. Easy to show.

17. 2026-04-08
    listed $139,900 Active 216-char remark

    Show marketing remark (216 chars)

    Shaker Heights bungalow with three bedrooms and 1.5 baths. 2nd floor has a bedroom and half bath. The basement is unfinished. Needs work. The city inspection to be ordered this week. Loads of potential. Easy to show.

18. 2020-03-26
    soldstatus $35,000
19. 2019-11-30
    historical
20. 2019-05-15
    price $51,900
21. 2019-05-02
    price $52,400
22. 2019-05-02
    price $52,900
23. 2019-04-24
    price $53,400
24. 2019-04-10
    price $53,900
25. 2019-03-08
    listed $54,900 Active
26. 2008-06-14
    soldstatus $28,000
27. 2008-02-13
    listed $35,000
28. 2007-12-31
    historical
29. 2007-05-06
    listed $85,000
30. 2006-03-27
    historical
31. 2005-11-27
    historical
32. 2005-10-29
    historical
33. 2005-09-29
    listed $109,900
34. 2005-04-29
    listed $109,900
35. 2005-04-29
    listed $104,500
36. 1996-04-12
    soldstatus $55,500
37. 1996-04-05
    soldstatus $55,500
38. 1996-01-15
    listed $59,900

ⓘ 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: $3,893 · $324/mo
• Projected year-2 tax: $3,893 · $324/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 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: $17,895
• − Mortgage interest: −$6,302
• − Property taxes: −$3,893
• − Insurance: −$562
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$3,273
• Taxable income: $1,001
• Est. tax owed @ 24.0%: −$240
• After-tax cash flow: $2,361/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

+116.9% since first listed

24 events — show timeline

• 2026-05-18 Price Changed $129,900 MLSNOW
• 2026-05-11 Price Changed $135,000 MLSNOW
• 2026-04-08 Listed $139,900 MLSNOW
• 2020-03-26 Sold (Public Records) $35,000 Public Records
• 2019-11-30 Listing Removed — MLSNOW
• 2019-05-15 Price Changed $51,900 MLSNOW
• 2019-05-02 Price Changed $52,400 MLSNOW
• 2019-05-02 Price Changed $52,900 MLSNOW
• 2019-04-24 Price Changed $53,400 MLSNOW
• 2019-04-10 Price Changed $53,900 MLSNOW
• 2019-03-08 Listed $54,900 MLSNOW
• 2008-06-14 Sold (MLS) $28,000 MLSNOW
• 2008-02-13 Listed $35,000 MLSNOW
• 2007-12-31 Listing Removed — MLSNOW
• 2007-05-06 Listed $85,000 MLSNOW
• 2006-03-27 Listing Removed — MLSNOW
• 2005-11-27 Listing Removed — MLSNOW
• 2005-10-29 Listing Removed — MLSNOW
• 2005-09-29 Listed $109,900 MLSNOW
• 2005-04-29 Listed $104,500 MLSNOW
• 2005-04-29 Listed $109,900 MLSNOW
• 1996-04-12 Sold (MLS) $55,500 MLSNOW
• 1996-04-05 Sold (Public Records) $55,500 Public Records
• 1996-01-15 Listed $59,900 MLSNOW

Property tax history

+7.2%/yr

Latest (2025): $3,893 · +0.1% YoY. Source: county tax records.