3666 Lindholm Rd · Shaker Heights, OH 44120

$179,900

4 bd · 3.0 ba · 2,247 sqft · MultiFamily public records · 161 Days on market

Built 1927 5,479 sqft lot Est $232k · 22% under

---

Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Charming Shaker Heights Multifamily with classic Tudor character. This timeless Shaker Heights Tudor-style multifamily home offers endless potential and rich architectural charm. Each unit features spacious living areas, beautiful hardwood floors, and plenty of natural light. The main and second floors showcase classic details like built-in corner cabinets, a fireplace, and large windows that bring warmth and character to every room. The third floor provides two additional bedrooms and a full bath, adding flexibility for extended living or additional rental income. Both kitchens and baths are functional but ready for your finishing touches. Perfect for an investor or homeowner looking to restore its original elegance. Point of Sale Inspection has been completed, and an escrow holdback is available for viewing online in the MLS. Buyer is responsible for escrow holdback. Bring your vision and make this Shaker Heights classic shine again!

Key facts

• Large windows
• Natural light
• Tudor character

Tags

• TUDOR CHARACTER
• HARDWOOD FLOORS
• NATURAL LIGHT
• BUILT-IN CORNER CABINETS
• FIREPLACE
• LARGE WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,604/mo this rent would consume 92% 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 $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.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $39k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $180k implies a 197% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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 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: 2.00% ✓
• Cap rate: 14.07%
• Cash-on-cash: 27.77%
• DSCR: 2.24
• GRM: 4.2

CMA / ARV

• ARV (median comp): $231,766
• List price: $179,900
• Delta: -22.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3643 Lindholm Rd	0.06mi	4/3.0	2,368 (+5%)	8mo	$100,000	$42	82
3550 Daleford Rd	0.37mi	4/3.0	2,268 (+1%)	4mo	$342,500	$151	78
3653 Hildana Rd	0.22mi	4/2.0	2,110 (-6%)	1mo	$102,000	$48	75
3619 Strathavon Rd	0.18mi	4/3.5	2,280 (+2%)	22mo	$220,000	$96	69
3654 3654 Avalon Road Rd #2	0.24mi	5/3.0 (+1)	2,236 (-0%)	23mo	$210,000	$94	64
17624 Winslow Rd	0.56mi	4/3.0	2,268 (+1%)	11mo	$270,000	$119	63
3566 Daleford Rd	0.36mi	4/2.0	2,268 (+1%)	20mo	$187,000	$82	62
3713 Menlo Rd	0.41mi	4/2.0	2,166 (-4%)	12mo	$65,000	$30	61
3654 Hildana Rd	0.26mi	4/2.0	2,454 (+9%)	20mo	$200,000	$81	52
3634 Hildana Rd	0.26mi	4/2.0	2,446 (+9%)	22mo	$150,000	$61	50
3638 Menlo Rd	0.43mi	4/2.0	2,554 (+14%)	7mo	$133,000	$52	47
3625 Ingleside Rd	0.46mi	4/2.0	2,377 (+6%)	22mo	$217,500	$92	47

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: 22.4%
• Equity multiple: 1.93×
• Total profit: $46,650
• Equity at exit: $26,824

10-year hold

• IRR: 30.8%
• Equity multiple: 3.83×
• Total profit: $142,645
• Equity at exit: $15,554

Cash invested: $50,372 (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: 12.5×

Monthly cashflow live

• Estimated rent: $3,604 high
• Mortgage (P&I): −$943
• Tax from tax record: −$663 /mo · $7,958/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$757
• Net cashflow: $1,166

Break-even live

Break-even rent $2,129

Max offer price $179,900

Occupancy floor 63%

Sensitivity live

Price	-10% $1,267	-5% $1,217	+0% $1,166	+5% $1,115	+10% $1,064
Rent	-10% $881	-5% $1,023	+0% $1,166	+5% $1,308	+10% $1,450
Rate	-1.0pp $1,256	-0.5pp $1,211	base $1,166	+0.5pp $1,119	+1.0pp $1,072

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,603
Total (3 units)			$3,604

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3719 Rolliston Rd Cleveland, OH	3.0	2.0	1458	$1,910	$1.31	44d	1	0.14mi
3710 Sudbury Rd Cleveland, OH	4.0	1.5	1665	$1,900	$1.14	44d	1	0.15mi
16818 Kenyon Rd Unit 2 Shaker Heights, OH	4.0	1.0	1900	$1,900	$1.00	4d	1	0.24mi
3579 Riedham Rd Unit Up Shaker Heights, OH	4.0	2.0	1648	$1,600	$0.97	44d	1	0.26mi
3671 Daleford Rd Unit Up Shaker Heights, OH	3.0	2.0	1536	$1,675	$1.09	17d	1	0.33mi
3671 Daleford Rd Cleveland, OH	3.0	2.0	1536	$1,675	$1.09	21d	1	0.33mi
3524 Daleford Rd Cleveland, OH	3.0	1.0	1700	$2,200	$1.29	16d	1	0.40mi
17424 Winslow Rd Cleveland, OH	4.0	2.0	1995	$2,200	$1.10	16d	1	0.51mi
16015 Van Aken Blvd Cleveland, OH	2.0–4.0	2.0	1360	$1,395	$1.03	8d	4	0.56mi
3636 Glencairn Rd Unit 2 Shaker Heights, OH	4.0	1.0	1612	$1,750	$1.09	24d	1	0.62mi
3634 Glencairn Rd Shaker Heights, OH	4.0	1.0	1612	$1,750	$1.09	24d	1	0.62mi
3601 Glencairn Rd Shaker Heights, OH	3.0	1.5	1890	$1,500	$0.79	44d	1	0.66mi
18314 Chagrin Blvd Unit 1 Shaker Heights, OH	3.0	2.0	1670	$1,600	$0.96	17d	1	0.72mi
3578 Latimore Rd Shaker Heights, OH	3.0	1.5	2113	$2,200	$1.04	2d	1	0.76mi
3653 Winchell Rd Unit 2 Shaker Heights, OH	5.0	3.0	1775	$2,350	$1.32	44d	1	0.84mi
3614 Lynnfield Rd Shaker Heights, OH	4.0	2.0	1584	$1,450	$0.92	16d	1	0.87mi
3665 Lynnfield Rd Unit UP Shaker Heights, OH	4.0	2.0	1600	$1,849	$1.16	44d	1	0.90mi
18801 Invermere Ave Cleveland, OH	3.0	2.5	2134	$2,200	$1.03	2d	1	0.92mi
19406 Wickfield Ave Warrensville Heights, OH	3.0	1.5	1934	$2,650	$1.37	2d	1	1.12mi
19333 Van Aken Blvd Shaker Heights, OH	3.0	2.0	1500	$2,075	$1.38	44d	1	1.20mi
19601 Van Aken Blvd Shaker Heights, OH	1.0–4.0	1.0–4.0	1977	$4,400	$2.23	21d	1	1.27mi
14108 Becket Rd Cleveland, OH	4.0	3.5	1660	$2,206	$1.33	44d	1	1.35mi
20005 Farnsleigh Rd Shaker Heights, OH	1.0–3.0	1.0–3.5	1407	$7,815	$5.55	2d	8	1.42mi

Listing history 22 events

1. 2026-06-18
   days on market $179,900 Active 161 DOM
2. 2026-06-17
   days on market $179,900 Active 160 DOM
3. 2026-06-16
   days on market $179,900 Active 159 DOM
4. 2026-06-15
   days on market $179,900 Active 158 DOM
5. 2026-06-13
   days on market $179,900 Active 156 DOM
6. 2026-06-13
   days on market $179,900 Active 155 DOM
7. 2026-06-09
   days on market $179,900 Active 152 DOM
8. 2026-06-08
   days on market $179,900 Active 151 DOM
9. 2026-06-07
   days on market $179,900 Active 150 DOM
10. 2026-06-03
    days on market $179,900 Active 146 DOM
11. 2026-06-02
    days on market $179,900 Active 145 DOM
12. 2026-06-01
    days on market $179,900 Active 144 DOM
13. 2026-05-31
    days on market $179,900 Active 143 DOM
14. 2026-04-29
    status Active 949-char remark

    Show marketing remark (949 chars)

    Charming Shaker Heights Multifamily with classic Tudor character. This timeless Shaker Heights Tudor-style multifamily home offers endless potential and rich architectural charm. Each unit features spacious living areas, beautiful hardwood floors, and plenty of natural light. The main and second floors showcase classic details like built-in corner cabinets, a fireplace, and large windows that bring warmth and character to every room. The third floor provides two additional bedrooms and a full bath, adding flexibility for extended living or additional rental income. Both kitchens and baths are functional but ready for your finishing touches. Perfect for an investor or homeowner looking to restore its original elegance. Point of Sale Inspection has been completed, and an escrow holdback is available for viewing online in the MLS. Buyer is responsible for escrow holdback. Bring your vision and make this Shaker Heights classic shine again!

15. 2026-04-29
    price $179,900 949-char remark

    Show marketing remark (949 chars)

    Charming Shaker Heights Multifamily with classic Tudor character. This timeless Shaker Heights Tudor-style multifamily home offers endless potential and rich architectural charm. Each unit features spacious living areas, beautiful hardwood floors, and plenty of natural light. The main and second floors showcase classic details like built-in corner cabinets, a fireplace, and large windows that bring warmth and character to every room. The third floor provides two additional bedrooms and a full bath, adding flexibility for extended living or additional rental income. Both kitchens and baths are functional but ready for your finishing touches. Perfect for an investor or homeowner looking to restore its original elegance. Point of Sale Inspection has been completed, and an escrow holdback is available for viewing online in the MLS. Buyer is responsible for escrow holdback. Bring your vision and make this Shaker Heights classic shine again!

16. 2026-03-03
    status Pending 949-char remark

    Show marketing remark (949 chars)

    Charming Shaker Heights Multifamily with classic Tudor character. This timeless Shaker Heights Tudor-style multifamily home offers endless potential and rich architectural charm. Each unit features spacious living areas, beautiful hardwood floors, and plenty of natural light. The main and second floors showcase classic details like built-in corner cabinets, a fireplace, and large windows that bring warmth and character to every room. The third floor provides two additional bedrooms and a full bath, adding flexibility for extended living or additional rental income. Both kitchens and baths are functional but ready for your finishing touches. Perfect for an investor or homeowner looking to restore its original elegance. Point of Sale Inspection has been completed, and an escrow holdback is available for viewing online in the MLS. Buyer is responsible for escrow holdback. Bring your vision and make this Shaker Heights classic shine again!

17. 2026-01-06
    price $189,900 949-char remark

    Show marketing remark (949 chars)

    Charming Shaker Heights Multifamily with classic Tudor character. This timeless Shaker Heights Tudor-style multifamily home offers endless potential and rich architectural charm. Each unit features spacious living areas, beautiful hardwood floors, and plenty of natural light. The main and second floors showcase classic details like built-in corner cabinets, a fireplace, and large windows that bring warmth and character to every room. The third floor provides two additional bedrooms and a full bath, adding flexibility for extended living or additional rental income. Both kitchens and baths are functional but ready for your finishing touches. Perfect for an investor or homeowner looking to restore its original elegance. Point of Sale Inspection has been completed, and an escrow holdback is available for viewing online in the MLS. Buyer is responsible for escrow holdback. Bring your vision and make this Shaker Heights classic shine again!

18. 2025-11-18
    status Active 949-char remark

    Show marketing remark (949 chars)

    Charming Shaker Heights Multifamily with classic Tudor character. This timeless Shaker Heights Tudor-style multifamily home offers endless potential and rich architectural charm. Each unit features spacious living areas, beautiful hardwood floors, and plenty of natural light. The main and second floors showcase classic details like built-in corner cabinets, a fireplace, and large windows that bring warmth and character to every room. The third floor provides two additional bedrooms and a full bath, adding flexibility for extended living or additional rental income. Both kitchens and baths are functional but ready for your finishing touches. Perfect for an investor or homeowner looking to restore its original elegance. Point of Sale Inspection has been completed, and an escrow holdback is available for viewing online in the MLS. Buyer is responsible for escrow holdback. Bring your vision and make this Shaker Heights classic shine again!

19. 2025-11-06
    historical 949-char remark

    Show marketing remark (949 chars)

    Charming Shaker Heights Multifamily with classic Tudor character. This timeless Shaker Heights Tudor-style multifamily home offers endless potential and rich architectural charm. Each unit features spacious living areas, beautiful hardwood floors, and plenty of natural light. The main and second floors showcase classic details like built-in corner cabinets, a fireplace, and large windows that bring warmth and character to every room. The third floor provides two additional bedrooms and a full bath, adding flexibility for extended living or additional rental income. Both kitchens and baths are functional but ready for your finishing touches. Perfect for an investor or homeowner looking to restore its original elegance. Point of Sale Inspection has been completed, and an escrow holdback is available for viewing online in the MLS. Buyer is responsible for escrow holdback. Bring your vision and make this Shaker Heights classic shine again!

20. 2025-10-31
    listed $219,000 Active 949-char remark

    Show marketing remark (949 chars)

    Charming Shaker Heights Multifamily with classic Tudor character. This timeless Shaker Heights Tudor-style multifamily home offers endless potential and rich architectural charm. Each unit features spacious living areas, beautiful hardwood floors, and plenty of natural light. The main and second floors showcase classic details like built-in corner cabinets, a fireplace, and large windows that bring warmth and character to every room. The third floor provides two additional bedrooms and a full bath, adding flexibility for extended living or additional rental income. Both kitchens and baths are functional but ready for your finishing touches. Perfect for an investor or homeowner looking to restore its original elegance. Point of Sale Inspection has been completed, and an escrow holdback is available for viewing online in the MLS. Buyer is responsible for escrow holdback. Bring your vision and make this Shaker Heights classic shine again!

21. 1984-10-10
    soldstatus $60,500
22. 1977-10-01
    soldstatus $44,500

ⓘ 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: $7,958 · $663/mo
• Projected year-2 tax: $7,958 · $663/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: $43,248
• − Mortgage interest: −$10,077
• − Property taxes: −$7,958
• − Insurance: −$900
• − Repairs & maintenance: −$3,460
• − Management: −$3,460
• − Depreciation: −$5,233
• Taxable income: $12,160
• Est. tax owed @ 24.0%: −$2,919
• After-tax cash flow: $11,069/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

+304.3% since first listed

9 events — show timeline

• 2026-04-29 Relisted — MLSNOW
• 2026-04-29 Price Changed $179,900 MLSNOW
• 2026-03-03 Pending — MLSNOW
• 2026-01-06 Price Changed $189,900 MLSNOW
• 2025-11-18 Relisted — MLSNOW
• 2025-11-06 Listing Removed — MLSNOW
• 2025-10-31 Listed $219,000 MLSNOW
• 1984-10-10 Sold (Public Records) $60,500 Public Records
• 1977-10-01 Sold (Public Records) $44,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $7,958 · +31.0% YoY. Source: county tax records.