13773 Cedar Rd #103 · South Euclid, OH 44118

$54,200

1 bd · 1.0 ba · 799 sqft · Condo · 5 Days on market

Built 1950 Fair condition $349/mo HOA · 28% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Rent growth +3.9/5.0
• Schools +2.8/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Mayflower Condominium. First floor one bedroom unit. The large windows allow an abundance of natural light into the living and dining areas. Spacious bedroom with ceiling fan and double closet. Galley style kitchen. The bathroom vanity and floor were recently updated. Laundry room is on the same floor. Secure building access. Low maintenance life style or great investment opportunity. Conveniently located to shopping, restaurants and all the amenities the area has to offer. Easy access to downtown and highways.

Key facts

• Large windows
• Galley style kitchen
• Conveniently located

Tags

• LARGE WINDOWS
• GALLEY STYLE KITCHEN
• UPDATED BATHROOM VANITY
• SECURE BUILDING ACCESS
• LAUNDRY ROOM ON SAME FLOOR
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $54k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Cap rate 12.1% vs local median 5.9% in South Euclid — 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 88/100 on livability (#22 in OH, #207 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• Cleveland Heights-University Heights City (suburban): math 23% / reading 41% proficiency, ranked #568 of 656 in OH (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.7%/yr); 253 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $375 of loan paydown is wiped out by about $2k 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 + 5.7% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,200

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1950 — 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 B-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: 2.30% ✓
• Cap rate: 12.08%
• Cash-on-cash: 20.68%
• DSCR: 1.92
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.7% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.76×
• Total profit: $11,582
• Equity at exit: $8,081

10-year hold

• IRR: 29.1%
• Equity multiple: 4.13×
• Total profit: $47,565
• Equity at exit: $4,686

Cash invested: $15,176 (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 44118

• Rents YoY: 5.7%
• Active inventory: 253
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,247 high
• Mortgage (P&I): −$284
• Tax est. 1.5%: −$68 /mo · $813/yr
• Insurance: −$23
• HOA: −$349
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $261

Break-even live

Break-even rent $916

Max offer price $54,200

Occupancy floor 74%

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: $13,550
• Closing costs: $1,626
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13781 Cedar Rd #304 South Euclid, OH	1.0	1.0	853	$1,125	$1.32	3d	1	0.06mi
13789 Cedar Rd Unit 300 South Euclid, OH	2.0	1.0	1100	$1,349	$1.23	17d	1	0.08mi
13797 Cedar Rd Unit 106 1st Flr South Euclid, OH	1.0	1.0	833	$1,005	$1.21	17d	1	0.09mi
13645 Cedar Rd University Heights, OH	2.0	1.0	1102	$1,295	$1.18	23d	1	0.21mi
13645 Cedar Rd University Heights, OH	2.0	1.0	1102	$1,395	$1.27	4d	1	0.21mi
13641 Cedar Rd University Heights, OH	2.0	1.0	1036	$1,350	$1.30	23d	1	0.21mi
3435 Superior Park Dr Cleveland Heights, OH	1.0	1.0	631	$915	$1.45	10d	6	0.70mi
3241 Kildare Rd Unit 3241 Kildare Lower Cleveland Heights, OH	2.0	1.0	900	$1,095	$1.22	7d	1	0.93mi
3235 Meadowbrook Blvd Cleveland Heights, OH	1.0	1.0	760	$1,000	$1.32	16d	1	1.01mi
2223 Lee Rd Cleveland, OH	2.0	1.0–2.0	1015	$2,195	$2.16	1d	60	1.05mi
2027 Lee Rd Cleveland, OH	1.0	1.0	700	$1,375	$1.96	3d	1	1.06mi
30 Severance Cir Cleveland Heights, OH	1.0–2.0	1.0–2.0	762	$1,225	$1.61	2d	18	1.12mi
2200 Milton Rd University Heights, OH	1.0–2.0	1.0–2.0	852	$1,300	$1.52	1d	19	1.14mi
500 Severance Place Ln Cleveland Heights, OH	1.0	1.0	1150	$1,575	$1.37	23d	2	1.27mi
35 Severance Cir Cleveland Heights, OH	1.0–2.0	1.0–2.0	832	$1,260	$1.51	1d	26	1.28mi
20301 Shelburne Rd Unit 9B Shaker Heights, OH	2.0	1.5	900	$1,850	$2.06	1d	1	1.29mi
20301 Shelburne Rd Unit 8B Shaker Heights, OH	2.0	2.0	945	$1,850	$1.96	1d	1	1.29mi
20301 Shelburne Rd #8 Shaker Heights, OH	2.0	2.0	950	$1,850	$1.95	10d	1	1.29mi
20301 Shelburne Rd #9 Shaker Heights, OH	2.0	1.5	900	$1,850	$2.06	10d	1	1.29mi
3755 Mayfield Rd Cleveland Heights, OH	1.0–2.0	1.0	800	$1,050	$1.31	23d	1	1.33mi

HOA detail condo

• Monthly dues: $349 · $4,188/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-20
   status Pending
2. 2026-05-15
   listed $54,200 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low

Taxation est. · year 1

• Rental income: $14,963
• − Mortgage interest: −$3,036
• − Property taxes: −$813
• − Insurance: −$271
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − HOA: −$4,188
• − Depreciation: −$1,577
• Taxable income: $2,684
• Est. tax owed @ 24.0%: −$644
• After-tax cash flow: $2,494/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.

Condition & rehab AI · 10 photos

Fair 45/100 Moderate rehab

This one-bedroom townhouse requires moderate renovations, focusing on updating the carpeting, appliances, and bathroom fixtures to improve its resale and rental value.

Repairs flagged

• Major Carpeting — Severe wear and tear
• Moderate Kitchen appliances — Dated and worn
• Moderate Bathroom fixtures — Dated and worn

Value-add opportunities

• Both Painting and updating kitchen appliances — Enhances curb appeal and interior aesthetics
• Both Re-carpeting and updating bathroom fixtures — Improves living experience and enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Carpeting · Severe wear and tear	Major	$15,000–50,000
Kitchen appliances · Dated and worn	Moderate	$3,000–15,000
Bathroom fixtures · Dated and worn	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$21,000–80,000

Value-add ROI direction

• Both Painting and updating kitchen appliances — Enhances curb appeal and interior aesthetics ↑
• Both Re-carpeting and updating bathroom fixtures — Improves living experience and enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cleveland Heights-University Heights City
• NCES district ID: 3904379
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $53,451
• Composite: 28.12/100
• National rank: #6822
• State rank: #568 of 656 in OH

Livability — South Euclid

• Score: 88/100
• State rank: #22
• US rank: #207

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Euclid, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 32,668
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 40,715
• Household income: $77,555
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1847.0

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 0.56)
• Race & ethnicity: White 57% Black 33% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -319.62%
• Current HPI: 204.5504
• Rent YoY: ▲ 5.70%
• 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

2 events — show timeline

• 2026-05-20 Pending — MLSNOW
• 2026-05-15 Listed $54,200 MLSNOW