324 E 248th St · Euclid, OH 44123

$120,000

3 bd · 1.0 ba · 1,174 sqft · SingleFamily public records · 43 Days on market

Built 1940 5,619 sqft lot $102/sqft · 21% below area Est $152k · 21% under

---

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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +7.1/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 324 E 248th St in Euclid, a rare opportunity to own a charming Colonial on a quiet, well-maintained street just minutes from the beauty of Lake Erie. Surrounded by pride of ownership and nestled in a neighborhood setting buyers love, this home offers incredible potential at an exceptional value. Inside, you’ll find 1,174 square feet of living space featuring hardwood floors throughout most of the home, a spacious living room anchored by a cozy fireplace, and a dedicated dining room perfect for gathering. Just off the dining area, a sunroom provides the ideal space to relax, unwind, or create a bright home office. Upstairs, both bedrooms are generously sized, offering comfort and flexibility. One bedroom features a private rooftop balcony overlooking the fenced-in backyard, a unique and inviting retreat rarely found at this price point. This home offers great bones and a functional layout, making it the perfect canvas for a buyer ready to bring their vision to life. The full basement provides additional space with endless possibilities for storage or future finishing. Outside, enjoy a fenced yard and a 2-car detached garage, adding both convenience and value. Located near Briardale Greens Golf Course and just a short distance to Lake Erie, this property combines location, space, and opportunity. Even better, qualified buyers may take advantage of up to $10,000 in available down payment and closing cost assistance, making homeownership more attainable than ever. If you’re looking for a home with character, space, and the ability to build equity, this is one you don’t want to miss.

Key facts

• 5,619 sq ft lot
• 2 garage spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 6.7% in Euclid — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#204 in OH, #3,149 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools C-, commute F, employment D-.
• Euclid City (suburban): math 14% / reading 28% proficiency, ranked #625 of 656 in OH (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.3%/yr); 96 active listings in the ZIP; 40 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).
• This rent runs 31% of the median local income ($56k/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 $830 of loan paydown is wiped out by about $4k 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 + 5.3% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $120k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.21% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.54%
• DSCR: 1.38
• GRM: 6.9

CMA / ARV

• ARV (median comp): $152,485
• List price: $120,000
• Delta: -21.30%
• 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
25401 Farringdon Ave	0.31mi	3/1.0	1,152 (-2%)	0mo	$186,000	$161	82
24251 Puritan Rd	0.67mi	3/1.0	1,200 (+2%)	1mo	$132,000	$110	65
226 E 242nd St	0.21mi	3/1.5	1,344 (+14%)	1mo	$135,500	$101	63
795 E 260th St	0.70mi	3/1.5	1,194 (+2%)	2mo	$183,000	$153	61
571 E 260th St	0.46mi	3/1.5	1,283 (+9%)	1mo	$155,000	$121	60
311 E 262nd St	0.59mi	4/1.5 (+1)	1,215 (+4%)	0mo	$200,000	$165	59
599 E 250th St	0.47mi	3/1.5	1,316 (+12%)	1mo	$154,500	$117	56
23198 Gay St	0.70mi	4/1.5 (+1)	1,220 (+4%)	2mo	$155,000	$127	52
26361 Elinore Ave	0.69mi	3/1.5	1,037 (-12%)	1mo	$190,000	$183	46
23896 Devoe Ave	0.68mi	3/1.5	1,326 (+13%)	1mo	$184,000	$139	44
643 E 261st St	0.57mi	4/1.0 (+1)	1,344 (+14%)	1mo	$150,000	$112	43
26901 Farringdon Ave	0.74mi	4/1.5 (+1)	1,339 (+14%)	1mo	$156,000	$117	34

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 · 5.28% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-740
• Equity at exit: $17,892

10-year hold

• IRR: 11.5%
• Equity multiple: 2.01×
• Total profit: $33,872
• Equity at exit: $10,375

Cash invested: $33,600 (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 44123

• Home prices YoY: -25.0%
• Rents YoY: 5.3%
• Active inventory: 96
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,449 high
• Mortgage (P&I): −$629
• Tax from tax record: −$226 /mo · $2,715/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $239

Break-even live

Break-even rent $1,146

Max offer price $120,000

Occupancy floor 78%

Sensitivity live

Price	-10% $307	-5% $273	+0% $239	+5% $205	+10% $171
Rent	-10% $125	-5% $182	+0% $239	+5% $296	+10% $354
Rate	-1.0pp $300	-0.5pp $270	base $239	+0.5pp $208	+1.0pp $176

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 E 246th St Euclid, OH	3.0	1.0	1116	$1,864	$1.67	45d	1	0.05mi
368 E 248th St Euclid, OH	3.0	1.0	1440	$1,395	$0.97	45d	1	0.07mi
270 E 244th St Euclid, OH	1.0–2.0	1.0	702	$950	$1.35	22d	3	0.13mi
24570 Lakeshore Blvd Euclid, OH	1.0–2.0	1.0	925	$1,200	$1.30	45d	1	0.18mi
25301 Shoreview Ave Euclid, OH	3.0	2.0	1131	$1,849	$1.63	16d	1	0.19mi
25301 Shoreview Ave Euclid, OH	3.0	2.0	1131	$1,499	$1.33	3d	1	0.19mi
24453 Lakeshore Blvd Euclid, OH	1.0–2.0	1.0–2.0	781	$1,040	$1.33	3d	10	0.22mi
23951 Lakeshore Blvd Euclid, OH	1.0–3.0	1.0–1.5	850	$1,168	$1.37	3d	7	0.30mi
101 E 238th St Euclid, OH	2.0	1.0	959	$1,400	$1.46	16d	1	0.34mi
24801 Lake Shore Blvd Euclid, OH	2.0	1.0	640	$1,075	$1.68	5d	8	0.35mi
25311 Lakeshore Blvd Unit C14 Euclid, OH	2.0	1.0	925	$995	$1.08	45d	1	0.40mi
25291 Richards Ave Euclid, OH	4.0	1.0	1164	$1,850	$1.59	3d	1	0.42mi
611 E 260th St Euclid, OH	3.0	1.0	875	$1,595	$1.82	45d	1	0.50mi
25611 Lakeshore Blvd Unit F11 Euclid, OH	2.0	1.0	925	$995	$1.08	45d	1	0.53mi
23307 Williams Ave Euclid, OH	4.0	1.0	1220	$1,700	$1.39	25d	1	0.55mi
26351 Farringdon Ave Euclid, OH	3.0	1.0	1257	$1,495	$1.19	3d	1	0.57mi
26230 Briardale Ave Euclid, OH	3.0	2.0	1290	$1,600	$1.24	3d	1	0.63mi
374 E 232nd St Euclid, OH	3.0	1.0	1222	$1,995	$1.63	45d	1	0.64mi
26450 Drakefield Ave Euclid, OH	4.0	1.5	1241	$1,700	$1.37	3d	1	0.66mi
24200 Puritan Rd Euclid, OH	3.0	1.0	1100	$1,199	$1.09	13d	1	0.69mi
245 E 262nd St Euclid, OH	3.0	2.0	1226	$1,840	$1.50	3d	1	0.69mi
23901 Puritan Rd Euclid, OH	3.0	1.0	1326	$1,595	$1.20	16d	1	0.72mi
26900 Forestview Ave Euclid, OH	3.0	1.0	1098	$1,450	$1.32	3d	1	0.73mi
26900 Zeman Ave Euclid, OH	4.0	1.5	1241	$1,531	$1.23	21d	1	0.75mi
655 E 240th St Euclid, OH	3.0	1.0	1341	$1,550	$1.16	45d	1	0.79mi
27190 Zeman Ave Euclid, OH	4.0	1.0	1465	$1,800	$1.23	22d	1	0.86mi
26611 Lakeshore Blvd Unit UP Euclid, OH	3.0	2.0	1400	$1,275	$0.91	21d	1	0.87mi
645 Babbitt Rd Euclid, OH	3.0	1.0	1200	$1,400	$1.17	13d	1	0.98mi
27471 Forestview Ave Euclid, OH	3.0	1.0	1282	$1,495	$1.17	45d	1	1.03mi
884 E 248th St Euclid, OH	3.0	2.0	1440	$1,699	$1.18	3d	1	1.05mi
415 E 222nd St Unit 461-23 Euclid, OH	2.0	1.0	700	$875	$1.25	45d	1	1.07mi
797 Babbitt Rd #22 Euclid, OH	3.0	1.5	1360	$1,600	$1.18	45d	1	1.09mi
21860 Roberts Ave Euclid, OH	3.0	1.0	1253	$1,450	$1.16	9d	1	1.19mi
521 E 222nd St Euclid, OH	2.0	1.0	800	$1,500	$1.88	25d	1	1.22mi
488 E 222nd St Unit Up Euclid, OH	2.0	1.0	900	$1,100	$1.22	22d	1	1.22mi
26200 S Lake Shr Euclid, OH	3.0	1.5	1305	$1,225	$0.94	9d	1	1.24mi
824 E 236th St Euclid, OH	3.0	2.0	1100	$1,720	$1.56	3d	1	1.30mi
27701 Mills Ave Unit 2E Euclid, OH	2.0	1.5	1176	$1,275	$1.08	45d	1	1.36mi
21751 Priday Ave Euclid, OH	3.0	1.0	1174	$1,545	$1.32	22d	1	1.40mi
21251 S Lake Shore Blvd Euclid, OH	3.0	2.0	1246	$1,595	$1.28	45d	1	1.44mi

Listing history 10 events

1. 2026-06-21
   days on market $120,000 Active 43 DOM
2. 2026-06-18
   days on market $120,000 Active 40 DOM
3. 2026-06-17
   status $120,000 Active 39 DOM
4. 2026-05-19
   status Pending 1634-char remark

   Show marketing remark (1634 chars)

   Welcome to 324 E 248th St in Euclid, a rare opportunity to own a charming Colonial on a quiet, well-maintained street just minutes from the beauty of Lake Erie. Surrounded by pride of ownership and nestled in a neighborhood setting buyers love, this home offers incredible potential at an exceptional value. Inside, you’ll find 1,174 square feet of living space featuring hardwood floors throughout most of the home, a spacious living room anchored by a cozy fireplace, and a dedicated dining room perfect for gathering. Just off the dining area, a sunroom provides the ideal space to relax, unwind, or create a bright home office. Upstairs, both bedrooms are generously sized, offering comfort and flexibility. One bedroom features a private rooftop balcony overlooking the fenced-in backyard, a unique and inviting retreat rarely found at this price point. This home offers great bones and a functional layout, making it the perfect canvas for a buyer ready to bring their vision to life. The full basement provides additional space with endless possibilities for storage or future finishing. Outside, enjoy a fenced yard and a 2-car detached garage, adding both convenience and value. Located near Briardale Greens Golf Course and just a short distance to Lake Erie, this property combines location, space, and opportunity. Even better, qualified buyers may take advantage of up to $10,000 in available down payment and closing cost assistance, making homeownership more attainable than ever. If you’re looking for a home with character, space, and the ability to build equity, this is one you don’t want to miss.

5. 2026-04-28
   price $120,000 1634-char remark

   Show marketing remark (1634 chars)

   Welcome to 324 E 248th St in Euclid, a rare opportunity to own a charming Colonial on a quiet, well-maintained street just minutes from the beauty of Lake Erie. Surrounded by pride of ownership and nestled in a neighborhood setting buyers love, this home offers incredible potential at an exceptional value. Inside, you’ll find 1,174 square feet of living space featuring hardwood floors throughout most of the home, a spacious living room anchored by a cozy fireplace, and a dedicated dining room perfect for gathering. Just off the dining area, a sunroom provides the ideal space to relax, unwind, or create a bright home office. Upstairs, both bedrooms are generously sized, offering comfort and flexibility. One bedroom features a private rooftop balcony overlooking the fenced-in backyard, a unique and inviting retreat rarely found at this price point. This home offers great bones and a functional layout, making it the perfect canvas for a buyer ready to bring their vision to life. The full basement provides additional space with endless possibilities for storage or future finishing. Outside, enjoy a fenced yard and a 2-car detached garage, adding both convenience and value. Located near Briardale Greens Golf Course and just a short distance to Lake Erie, this property combines location, space, and opportunity. Even better, qualified buyers may take advantage of up to $10,000 in available down payment and closing cost assistance, making homeownership more attainable than ever. If you’re looking for a home with character, space, and the ability to build equity, this is one you don’t want to miss.

6. 2026-04-10
   listed $135,000 Active 1634-char remark

   Show marketing remark (1634 chars)

   Welcome to 324 E 248th St in Euclid, a rare opportunity to own a charming Colonial on a quiet, well-maintained street just minutes from the beauty of Lake Erie. Surrounded by pride of ownership and nestled in a neighborhood setting buyers love, this home offers incredible potential at an exceptional value. Inside, you’ll find 1,174 square feet of living space featuring hardwood floors throughout most of the home, a spacious living room anchored by a cozy fireplace, and a dedicated dining room perfect for gathering. Just off the dining area, a sunroom provides the ideal space to relax, unwind, or create a bright home office. Upstairs, both bedrooms are generously sized, offering comfort and flexibility. One bedroom features a private rooftop balcony overlooking the fenced-in backyard, a unique and inviting retreat rarely found at this price point. This home offers great bones and a functional layout, making it the perfect canvas for a buyer ready to bring their vision to life. The full basement provides additional space with endless possibilities for storage or future finishing. Outside, enjoy a fenced yard and a 2-car detached garage, adding both convenience and value. Located near Briardale Greens Golf Course and just a short distance to Lake Erie, this property combines location, space, and opportunity. Even better, qualified buyers may take advantage of up to $10,000 in available down payment and closing cost assistance, making homeownership more attainable than ever. If you’re looking for a home with character, space, and the ability to build equity, this is one you don’t want to miss.

7. 2011-03-02
   soldstatus $79,000
8. 2009-10-06
   soldstatus $79,000
9. 2009-06-01
   soldstatus $20,000 82-char remark

   Show marketing remark (82 chars)

   Bring your investors. Sold as is. Buyer to assume all violations. Bring in offers.

10. 2009-04-27
    listed $44,900 82-char remark

    Show marketing remark (82 chars)

    Bring your investors. Sold as is. Buyer to assume all violations. Bring in offers.

ⓘ 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: $2,715 · $226/mo
• Projected year-2 tax: $2,715 · $226/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 ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,389
• − Mortgage interest: −$6,722
• − Property taxes: −$2,715
• − Insurance: −$600
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$3,491
• Taxable income: $1,079
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $2,612/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: Euclid City
• NCES district ID: 3904395
• Math proficiency: 14% ▼ -19.00%
• Reading proficiency: 28% ▼ -14.00%
• Median HH income: $36,385
• Composite: 17.39/100
• National rank: #9067
• State rank: #625 of 656 in OH

Livability — Euclid

• Score: 77/100
• State rank: #204
• US rank: #3149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Euclid, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 41,855
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 18,050
• Household income: $55,676
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 1085.0

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: Majority Black (65%)
• Race & ethnicity: Black 65% White 28% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Romanian 5%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Chinese 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: ▼ -62.82%
• Current HPI: 188.4932
• Rent YoY: ▲ 5.28%
• 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

+167.3% since first listed

7 events — show timeline

• 2026-05-19 Pending — MLSNOW
• 2026-04-28 Price Changed $120,000 MLSNOW
• 2026-04-10 Listed $135,000 MLSNOW
• 2011-03-02 Sold (Public Records) $79,000 Public Records
• 2009-10-06 Sold (Public Records) $79,000 Public Records
• 2009-06-01 Sold (MLS) $20,000 MLSNOW
• 2009-04-27 Listed $44,900 MLSNOW

Property tax history

+1.8%/yr

Latest (2025): $2,715 · -3.1% YoY. Source: county tax records.