5231 Philip Ave · Maple Heights, OH 44137

$155,000

4 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 144 Days on market

Built 1930 5,440 sqft lot Est $165k · 6% under

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Why this score? — see what drove the C 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 +21.9/30.0
• ARV discount +10.1/15.0
• DSCR +7.0/10.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 5231 Philip Ave, a beautifully updated Colonial that blends timeless Maple Heights charm with modern style and convenience. This move-in-ready home features 3 bedrooms and 1.5 baths, all completely refreshed from top to bottom. , Step inside to discover bright, neutral tones, all-new flooring, updated lighting, and a warm, inviting layout perfect for everyday living. It also has a brand new roof, gutters, and windows, along with a brand new kitchen and baths. The brand-new kitchen is the star of the show—featuring crisp white cabinetry, stylish backsplash, and new countertops that create a clean, modern look. Both bathrooms have been tastefully remodeled, offering a fresh a

Key facts

• Brand new garage
• Brand new roof
• Brand new kitchen

Tags

• UPDATED COLONIAL
• BRAND NEW GARAGE
• BRAND NEW ROOF
• NEWLY LANDSCAPED YARD
• BRAND NEW KITCHEN
• REMODELED BATHROOMS

Property features AI

Exterior

• Parking: Garage (2 spaces)
• Utilities: Public water; Public sewer
• Home design: Two-story home; Asbestos shingle roof; Vinyl siding
• Construction: Built in public-record year; Vinyl siding construction; Asbestos shingle roof; Full unfinished basement
• Exterior features: Public water; Public sewer

Interior

• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full unfinished basement; Updated/remodeled condition

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#470 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A-; Watch: schools D+, crime D, employment D.
• Maple Heights City (suburban): math 14% / reading 25% proficiency, ranked #630 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+14.8%/yr); 84 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 39% of the median local income ($54k/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 $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 + 8.0% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $55k; list at $155k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
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: 1.12% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $164,672
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18408 Raymond St	0.39mi	3/1.0 (-1)	1,284 (-3%)	0mo	$115,000	$90	71
18851 Raymond St	0.55mi	4/1.5	1,330 (+0%)	2mo	$135,000	$102	71
5127 Erwin St	0.36mi	3/2.0 (-1)	1,308 (-2%)	2mo	$93,500	$71	70
5234 Erwin St	0.29mi	4/1.5	1,204 (-9%)	1mo	$185,000	$154	68
5100 Erwin St	0.36mi	3/2.0 (-1)	1,192 (-10%)	1mo	$149,000	$125	56
5210 Theodore St	0.34mi	3/2.0 (-1)	1,186 (-11%)	2mo	$123,700	$104	55
157 Flora Dr	0.72mi	3/1.5 (-1)	1,296 (-2%)	2mo	$164,000	$127	54
5585 South Blvd	0.65mi	3/2.0 (-1)	1,251 (-6%)	1mo	$138,000	$110	50
5435 Beechwood Ave	0.53mi	3/1.5 (-1)	1,184 (-11%)	1mo	$137,100	$116	49
19520 Maple Heights Blvd	0.75mi	3/1.5 (-1)	1,236 (-7%)	2mo	$167,000	$135	45
5666 Waterbury Ave	0.71mi	3/1.0 (-1)	1,147 (-14%)	2mo	$142,500	$124	37
5165 Camden Rd	0.66mi	3/2.0 (-1)	1,150 (-13%)	2mo	$173,000	$150	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-255
• Equity at exit: $23,111

10-year hold

• IRR: 14.3%
• Equity multiple: 2.43×
• Total profit: $62,027
• Equity at exit: $13,402

Cash invested: $43,400 (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 44137

• Home prices YoY: -34.7%
• Rents YoY: 14.8%
• Active inventory: 84
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$813
• Tax from tax record: −$255 /mo · $3,055/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $245

Break-even live

Break-even rent $1,433

Max offer price $155,000

Occupancy floor 81%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5153 Cato St Maple Heights, OH	4.0	2.0	1560	$1,850	$1.19	24d	1	0.14mi
5107 Philip Ave Maple Heights, OH	3.0	1.0	1188	$1,800	$1.52	7d	1	0.18mi
5246 Joseph St Maple Heights, OH	3.0	1.5	890	$1,300	$1.46	3d	1	0.20mi
5120 Clement Ave Maple Heights, OH	3.0	1.0	1122	$1,450	$1.29	15d	1	0.23mi
18107 North Blvd Maple Heights, OH	3.0	1.0	1190	$1,350	$1.13	44d	1	0.26mi
18004 North Blvd Maple Heights, OH	3.0	1.0	1396	$1,700	$1.22	44d	1	0.29mi
5331 South Blvd Maple Heights, OH	3.0	2.0	1078	$1,500	$1.39	16d	1	0.30mi
17488 McCracken Rd Maple Heights, OH	3.0	1.0	1284	$1,699	$1.32	10d	1	0.32mi
5225 Theodore St Maple Heights, OH	3.0	1.0	1785	$1,450	$0.81	4d	1	0.33mi
18123 McCracken Rd Maple Heights, OH	3.0	1.0	1215	$1,600	$1.32	7d	1	0.39mi
16914 Maple Heights Blvd Maple Heights, OH	3.0	1.0	1212	$1,425	$1.18	10d	1	0.39mi
17206 Mapleboro Ave Maple Heights, OH	3.0	1.0	1020	$1,325	$1.30	24d	1	0.40mi
17204 Mapleboro Ave Maple Heights, OH	3.0	1.0	1074	$1,475	$1.37	44d	1	0.40mi
18509 Raymond St Maple Heights, OH	3.0	1.0	1083	$1,395	$1.29	44d	1	0.41mi
5461 Clement Ave Maple Heights, OH	3.0	1.5	1260	$1,350	$1.07	16d	1	0.42mi
5461 Clement Ave Maple Heights, OH	3.0	1.5	1260	$1,350	$1.07	20d	1	0.42mi
18512 Lewis Dr Maple Heights, OH	3.0	2.0	1200	$1,995	$1.66	2d	1	0.44mi
18505 Maple Heights Blvd Maple Heights, OH	3.0	1.0	989	$1,411	$1.43	44d	1	0.45mi
5333 Hollywood Ave Maple Heights, OH	3.0	1.0	1092	$1,450	$1.33	44d	1	0.51mi
18851 Raymond St Maple Heights, OH	4.0	2.0	1330	$2,500	$1.88	7d	1	0.52mi
5508 Grasmere Ave Maple Heights, OH	3.0	2.0	1834	$1,710	$0.93	44d	1	0.52mi
5435 Beechwood Ave Maple Heights, OH	3.0	2.0	1664	$2,000	$1.20	3d	1	0.54mi
18990 Raymond St Maple Heights, OH	4.0	1.5	1480	$1,750	$1.18	2d	1	0.55mi
19001 Nitra Ave Maple Heights, OH	3.0	1.0	1170	$1,450	$1.24	16d	1	0.55mi
5440 Hollywood Ave Maple Heights, OH	3.0	1.0	1080	$1,445	$1.34	21d	1	0.59mi
5554 Dalewood Ave Maple Heights, OH	3.0	1.0	1150	$1,500	$1.30	12d	1	0.59mi
19101 Nitra Ave Maple Heights, OH	3.0	1.0	1200	$1,295	$1.08	15d	1	0.59mi
18308 Edinboro Ave Maple Heights, OH	3.0	1.0	1200	$1,349	$1.12	7d	1	0.59mi
5223 Paine Ave Maple Heights, OH	4.0	1.0	1344	$1,650	$1.23	2d	1	0.60mi
5470 Hollywood Ave Maple Heights, OH	3.0	1.0	1150	$1,375	$1.20	44d	1	0.63mi
19203 Nitra Ave Maple Heights, OH	3.0	1.0	1050	$1,350	$1.29	4d	1	0.63mi
18413 Waterbury Ave Maple Heights, OH	3.0	1.5	1175	$1,850	$1.57	2d	1	0.69mi
15913 Grant Ave Maple Heights, OH	3.0	1.5	1400	$1,390	$0.99	16d	1	0.69mi
19500 Libby Rd Maple Heights, OH	3.0	1.5	1092	$2,300	$2.11	2d	1	0.71mi
19409 Raymond St Maple Heights, OH	3.0	1.0	1180	$1,656	$1.40	2d	1	0.73mi
19313 Longview Ave Maple Heights, OH	4.0	2.0	1796	$1,970	$1.10	4d	1	0.73mi
5535 Oakwood Ave Maple Heights, OH	3.0	1.0	1116	$1,350	$1.21	4d	1	0.74mi
5535 Oakwood Ave Maple Heights, OH	3.0	1.0	1116	$1,350	$1.21	7d	1	0.74mi
5627 Jefferson Ave Maple Heights, OH	3.0	1.0	1136	$1,250	$1.10	7d	1	0.76mi
5074 Miller Ave Maple Heights, OH	3.0	1.0	962	$1,400	$1.46	44d	1	0.83mi

Listing history 20 events

1. 2026-06-18
   days on market $155,000 Active 144 DOM
2. 2026-06-17
   days on market $155,000 Active 143 DOM
3. 2026-06-16
   days on market $155,000 Active 142 DOM
4. 2026-06-15
   days on market $155,000 Active 141 DOM
5. 2026-06-13
   days on market $155,000 Active 139 DOM
6. 2026-06-09
   days on market $155,000 Active 135 DOM
7. 2026-06-08
   days on market $155,000 Active 134 DOM
8. 2026-06-07
   days on market $155,000 Active 133 DOM
9. 2026-06-05
   days on market $155,000 Active 130 DOM
10. 2026-06-03
    days on market $155,000 Active 129 DOM
11. 2026-06-02
    days on market $155,000 Active 128 DOM
12. 2026-06-01
    days on market $155,000 Active 127 DOM
13. 2026-05-31
    days on market $155,000 Active 126 DOM
14. 2026-05-18
    status Active
15. 2026-04-28
    historical Contingent
16. 2026-04-16
    price $155,000
17. 2026-01-25
    listed $159,999 Active
18. 2025-10-09
    listed $165,000 Active
19. 2025-03-25
    soldstatus $55,000
20. 1977-05-01
    soldstatus $35,000

ⓘ 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: $3,055 · $255/mo
• Projected year-2 tax: $3,055 · $255/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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,913
• − Mortgage interest: −$8,682
• − Property taxes: −$3,055
• − Insurance: −$775
• − Repairs & maintenance: −$1,673
• − Management: −$1,673
• − Depreciation: −$4,509
• Taxable income: $545
• Est. tax owed @ 24.0%: −$131
• After-tax cash flow: $2,806/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: Maple Heights City
• NCES district ID: 3904430
• Math proficiency: 14% ▼ -22.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $38,856
• Composite: 16.39/100
• National rank: #9197
• State rank: #630 of 656 in OH

Livability — Maple Heights

• Score: 70/100
• State rank: #470
• US rank: #7818

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maple Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 23,285
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 23,285
• Household income: $53,918
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 971.0

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 (74%)
• Race & ethnicity: Black 74% White 20% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Scotch-Irish 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 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: ▼ -87.37%
• Current HPI: 164.4326
• Rent YoY: ▲ 14.82%
• 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

+342.9% since first listed

7 events — show timeline

• 2026-05-18 Relisted — MLSNOW
• 2026-04-28 Contingent — MLSNOW
• 2026-04-16 Price Changed $155,000 MLSNOW
• 2026-01-25 Listed $159,999 MLSNOW
• 2025-10-09 Listed $165,000 MLSNOW
• 2025-03-25 Sold (Public Records) $55,000 Public Records
• 1977-05-01 Sold (Public Records) $35,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $3,055 · -10.1% YoY. Source: county tax records.