2834 Ludlow Rd · Cleveland, OH 44120

$250,000

8 bd · 4.0 ba · 3,921 sqft · MultiFamily public records · 13 Days on market

Built 1930 7,078 sqft lot Est $239k · at est.

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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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +5.5/15.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great opportunity - Cleveland proper and Shaker schools. The currents rents are $1,300 & $1,200 with long term tenants. Ask agent for private home inspection report.

Key facts

• Easy access to rta
• Prime location
• 7,078 sq ft lot

Tags

• PRIME LOCATION
• SHAKER HEIGHTS SCHOOL DISTRICT
• HISTORIC SHAKER SQUARE
• EASY ACCESS TO RTA
• PRIVATE FIRST-FLOOR ENTRANCE
• GENEROUS LIVING SPACE

Property features AI

Finance

• Financial info: Annual tax amount available (not included per instructions)

Exterior

• Parking: 2-car garage; Detached garage; Driveway
• Utilities: Public water; Public sewer
• Home design: 3 stories; Wood siding construction; Asphalt/fiberglass roof
• Construction: Built (year from public records); Wood siding; Asphalt/fiberglass roof; Full basement foundation
• Exterior features: Lot approximately 0.1625 acres

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Bedrooms present (room level details not provided)
• Bathrooms: 4 full bathrooms
• Heating & cooling: Forced air heating; Gas heating; Radiators; Ceiling fans for cooling
• Interior features: Full basement
• Laundry & utility: Washer and Dryer; Laundry in basement; Multiple laundry locations

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $791 ($9k/yr) — positive. Per door: $395/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Cap rate 10.1% vs local median 3.6% in 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 71/100 on livability (#403 in OH) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D-, crime F, employment 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; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,519/mo this rent would consume 90% of the median local household income ($47k/yr) (locally 2289% 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 $2k of loan paydown is wiped out by about $8k 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 $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $159k; list at $250k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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: 1.41% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $239,181
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2885 Ludlow Rd	0.10mi	8/3.0	4,389 (+12%)	14mo	$269,230	$61	60

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $11,286
• Equity at exit: $37,276

10-year hold

• IRR: 14.1%
• Equity multiple: 2.15×
• Total profit: $80,554
• Equity at exit: $21,615

Cash invested: $70,000 (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 44120

• Rents YoY: 3.3%
• Active inventory: 125
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $3,519 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$574 /mo · $6,886/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $791

Break-even live

Break-even rent $2,518

Max offer price $250,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$3,520
Total (2 units)			$3,519

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-07
   statusdays on market $250,000 Pending 13 DOM
2. 2026-06-03
   days on market $250,000 Active 12 DOM
3. 2026-06-02
   days on market $250,000 Active 11 DOM
4. 2026-06-01
   days on market $250,000 Active 10 DOM
5. 2026-05-31
   days on market $250,000 Active 9 DOM
6. 2026-05-22
   listed $250,000 Active
7. 2021-04-29
   soldstatus $159,000
8. 2021-04-14
   soldstatus $159,000 Closed 171-char remark

   Show marketing remark (171 chars)

   Great opportunity - Cleveland proper and Shaker schools. The currents rents are $1,300 & $1,200 with long term tenants. Ask agent for private home inspection report.

9. 2021-03-30
   status Pending 171-char remark

   Show marketing remark (171 chars)

   Great opportunity - Cleveland proper and Shaker schools. The currents rents are $1,300 & $1,200 with long term tenants. Ask agent for private home inspection report.

10. 2021-03-01
    historical Contingent 171-char remark

    Show marketing remark (171 chars)

    Great opportunity - Cleveland proper and Shaker schools. The currents rents are $1,300 & $1,200 with long term tenants. Ask agent for private home inspection report.

11. 2021-02-05
    price $159,000 171-char remark

    Show marketing remark (171 chars)

    Great opportunity - Cleveland proper and Shaker schools. The currents rents are $1,300 & $1,200 with long term tenants. Ask agent for private home inspection report.

12. 2021-01-30
    listed $179,000 Active 171-char remark

    Show marketing remark (171 chars)

    Great opportunity - Cleveland proper and Shaker schools. The currents rents are $1,300 & $1,200 with long term tenants. Ask agent for private home inspection report.

13. 2021-01-26
    historical $179,000 171-char remark

    Show marketing remark (171 chars)

    Great opportunity - Cleveland proper and Shaker schools. The currents rents are $1,300 & $1,200 with long term tenants. Ask agent for private home inspection report.

14. 2001-09-14
    soldstatus $155,000
15. 1985-11-04
    soldstatus $63,000
16. 1984-12-11
    soldstatus $45,000
17. 1977-06-01
    soldstatus $44,400

ⓘ 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: $6,886 · $574/mo
• Projected year-2 tax: $6,886 · $574/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: $42,228
• − Mortgage interest: −$14,004
• − Property taxes: −$6,886
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,378
• − Management: −$3,378
• − Depreciation: −$7,273
• Taxable income: $6,058
• Est. tax owed @ 24.0%: −$1,454
• After-tax cash flow: $8,037/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 — Cleveland

• Score: 71/100
• State rank: #403
• US rank: #6673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 326,883
• 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

+463.1% since first listed

12 events — show timeline

• 2026-05-22 Listed $250,000 MLSNOW
• 2021-04-29 Sold (Public Records) $159,000 Public Records
• 2021-04-14 Sold (MLS) $159,000 MLSNOW
• 2021-03-30 Pending — MLSNOW
• 2021-03-01 Contingent — MLSNOW
• 2021-02-05 Price Changed $159,000 MLSNOW
• 2021-01-30 Listed $179,000 MLSNOW
• 2021-01-26 Coming Soon $179,000 MLSNOW
• 2001-09-14 Sold (Public Records) $155,000 Public Records
• 1985-11-04 Sold (Public Records) $63,000 Public Records
• 1984-12-11 Sold (Public Records) $45,000 Public Records
• 1977-06-01 Sold (Public Records) $44,400 Public Records

Property tax history

+1.2%/yr

Latest (2025): $6,886 · +12.8% YoY. Source: county tax records.