1238 E 145th St · East Cleveland, OH 44112

$40,000

4 bd · 2.0 ba · 1,992 sqft · MultiFamily public records · 27 Days on market

Built 1916 3,885 sqft lot Est $42k · at est.

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +9.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• 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

Major value-add duplex opportunity in East Cleveland featuring two 2-bedroom, 1-bath units, each offering a traditional layout with living room, dining room, and kitchen. The property has sustained significant water damage due to burst pipes and requires a full renovation. This is a substantial project suited for experienced investors prepared to complete a comprehensive rehab. Once restored, renovated duplexes in the area are supporting values of $150,000 or more. Estimated renovation costs are approximately $80,000, presenting an opportunity to create equity through improvements. For investors evaluating long-term rental strategy, current CMHA payment standards for two-bedroom units in th

Key facts

• 3,885 sq ft lot
• Built 1916
• Listed 27 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $550/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 39.3% vs local median 17.4% in East 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 66/100 on livability (#650 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools F, crime F, employment F.
• East Cleveland City School District (suburban): math 4% / reading 17% proficiency, ranked #652 of 656 in OH (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.2%/yr); 99 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $1,843/mo this rent would consume 77% of the median local household income ($29k/yr) (locally 1702% 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 $277 of loan paydown is wiped out by about $1k 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 + 5.2% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,400 (1.5% below list)

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 1916 — 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 F-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 4.61% ✓
• Cap rate: 39.31%
• Cash-on-cash: 117.93%
• DSCR: 6.25
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $41,832
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14111 Savannah Ave	0.54mi	4/2.0	1,924 (-3%)	2mo	$34,000	$18	68
13428 Hartford Rd	0.62mi	4/2.0	1,988 (-0%)	9mo	$34,000	$17	63
14004 Savannah Ave	0.57mi	4/2.0	1,996 (+0%)	13mo	$40,000	$20	62
14310 Potomac Ave	0.59mi	5/2.0 (+1)	1,982 (-0%)	12mo	$36,000	$18	56
13436 Hartford Rd	0.62mi	4/2.0	1,920 (-4%)	11mo	$89,500	$47	56
14810 Shaw Ave	0.43mi	4/2.0	1,698 (-15%)	6mo	$35,000	$21	50
14520 Strathmore Ave	0.47mi	5/3.0 (+1)	2,220 (+11%)	9mo	$130,000	$59	43
14012 Scioto Ave	0.69mi	5/3.0 (+1)	2,209 (+11%)	6mo	$95,000	$43	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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.05×
• Total profit: $67,790
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 15.92×
• Total profit: $167,159
• Equity at exit: $3,458

Cash invested: $11,200 (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 44112

• Rents YoY: 5.2%
• Active inventory: 99
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,843 high
• Mortgage (P&I): −$210
• Tax from tax record: −$129 /mo · $1,546/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $1,101

Break-even live

Break-even rent $450

Max offer price $40,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,123	-5% $1,112	+0% $1,101	+5% $1,089	+10% $1,078
Rent	-10% $955	-5% $1,028	+0% $1,101	+5% $1,173	+10% $1,246
Rate	-1.0pp $1,121	-0.5pp $1,111	base $1,101	+0.5pp $1,090	+1.0pp $1,080

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,844
Total (2 units)			$1,843

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14200 Scioto Ave Cleveland, OH	3.0	1.0	1256	$1,350	$1.07	17d	1	0.70mi
16000 Terrace Rd Cleveland, OH	1.0–3.0	1.0–2.0	1000	$1,210	$1.21	2d	39	0.82mi
12819 Edmonton Ave Cleveland, OH	4.0	1.0	1423	$1,795	$1.26	17d	1	0.92mi
910 Dresden Rd Cleveland, OH	4.0	2.0	1839	$1,800	$0.98	17d	1	1.08mi
15801 Hazel Rd Cleveland, OH	3.0	1.5	1908	$1,550	$0.81	17d	1	1.08mi
571 E 115th St Cleveland, OH	4.0	2.0	2220	$1,808	$0.81	17d	1	1.25mi
651 E 115th St Cleveland, OH	4.0	2.0	1550	$1,800	$1.16	22d	1	1.28mi
821 Nela View Rd Cleveland, OH	4.0	2.5	2178	$2,100	$0.96	8d	1	1.33mi
915 Nela View Rd Cleveland, OH	4.0	1.0	1300	$2,600	$2.00	17d	1	1.33mi
983 Greyton Rd Cleveland, OH	3.0	2.0	1457	$1,495	$1.03	17d	1	1.42mi
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	44d	1	1.42mi

Listing history 10 events

1. 2026-03-31
   status Pending
2. 2026-03-03
   listed $40,000 Active
3. 2025-08-28
   soldstatus $116,700
4. 2025-05-22
   soldstatus $50,000
5. 2025-04-10
   historical
6. 2025-03-28
   price $74,900
7. 2025-03-20
   listed $99,900 Active
8. 2006-09-14
   soldstatus $92,000
9. 1978-05-01
   soldstatus $23,000
10. 1978-05-01
    soldstatus $23,000

ⓘ 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: $1,546 · $129/mo
• Projected year-2 tax: $1,546 · $129/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: $22,116
• − Mortgage interest: −$2,241
• − Property taxes: −$1,546
• − Insurance: −$200
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$1,164
• Taxable income: $13,427
• Est. tax owed @ 24.0%: −$3,223
• After-tax cash flow: $9,986/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: East Cleveland City School District
• NCES district ID: 3904390
• Math proficiency: 4% ▼ -16.00%
• Reading proficiency: 17% ▼ -13.00%
• Median HH income: $22,726
• Composite: 7.38/100
• National rank: #9954
• State rank: #652 of 656 in OH

Livability — East Cleveland

• Score: 66/100
• State rank: #650
• US rank: #11510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Cleveland, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 17,848
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 17,848
• Household income: $28,799
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1702.0

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 (89%)
• Race & ethnicity: Black 89% White 7% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 3% Spanish 2% Russian/Polish/Slavic 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: ▼ -115.61%
• Current HPI: 67.2162
• Rent YoY: ▲ 5.16%
• 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

+73.9% since first listed

10 events — show timeline

• 2026-03-31 Pending — MLSNOW
• 2026-03-03 Listed $40,000 MLSNOW
• 2025-08-28 Sold (Public Records) $116,700 Public Records
• 2025-05-22 Sold (Public Records) $50,000 Public Records
• 2025-04-10 Listing Removed — MLSNOW
• 2025-03-28 Price Changed $74,900 MLSNOW
• 2025-03-20 Listed $99,900 MLSNOW
• 2006-09-14 Sold (Public Records) $92,000 Public Records
• 1978-05-01 Sold (Public Records) $23,000 Public Records
• 1978-05-01 Sold (Public Records) $23,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $1,546 · +64.2% YoY. Source: county tax records.