1460 S Belvoir Blvd · South Euclid, OH 44121

$289,000

5 bd · 4.0 ba · 3,400 sqft · MultiFamily public records · 52 Days on market

Built 1951 10,824 sqft lot $85/sqft · 13% above area Est $256k · 13% over

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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
• Livability +4.4/5.0
• Rent growth +4.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Turnkey investment opportunity! Solid brick triplex in a prime location offering immediate income with strong upside potential. Two units are currently occupied with one vacant, providing flexibility for additional rental income or owner occupancy. The property features approximately 3,400 sq ft on a 0.25 acre lot, with 7 parking spaces including 4 garage spots. Shared basement includes 2 washers and 2 dryers, along with separate utilities with 3 hot water tanks and 3 gas meters, and central air. Units include two 2 bedroom 1 bath units and one 2 bedroom 2 bath unit, all equipped with kitchen appliances including refrigerator and oven. Ideal for both seasoned investors and first time buyers

Key facts

• Separate utilities
• Kitchen appliances
• Solid brick triplex

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• SOLID BRICK TRIPLEX
• PRIME LOCATION
• SEPARATE UTILITIES
• CENTRAL AIR
• KITCHEN APPLIANCES

Property features AI

Finance

• Financial info: Gross rental income reported as $3,200; Individual unit rents reported: $1,250; $1,000; $950; At least one unit leased month-to-month; leases in place on other units (one lease noted through April 30, 2027)

Exterior

• Parking: Detached garage; Garage with 4 parking spaces; Paved parking
• Utilities: Public water; Public sewer
• Home design: Three-story building; Single building (multi-unit property)
• Construction: Built (year per public records); Asphalt and fiberglass roof
• Exterior features: Brick exterior; Paved areas (drive/yard/paved parking)

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Three two-bedroom units (each unit listed as Two Bedroom) — units include bedrooms on their respective levels as typical for multi-unit layout
• Bathrooms: Four full bathrooms total; Unit bathroom counts: one unit with 1 bath, one unit with 2 baths, another unit with 1 bath
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full finished basement; 13 total rooms
• Laundry & utility: Washer and Dryer located in the basement; Tenants pay all utilities

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $289k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $424/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $289k).
• Recommended offer: $280k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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+.
• South Euclid-Lyndhurst City (suburban): math 23% / reading 45% proficiency, ranked #556 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.8%/yr); 148 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $4,553/mo this rent would consume 71% of the median local household income ($77k/yr) (locally 672% 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 $2k of loan paydown is wiped out by about $9k 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 + 6.8% rent growth), your $81k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($280k) 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 $130k; list at $289k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $56/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 1.58% ✓
• Cap rate: 11.81%
• Cash-on-cash: 19.71%
• DSCR: 1.88
• GRM: 5.3

CMA / ARV

• ARV (median comp): $256,294
• List price: $289,000
• Delta: 12.76%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1477 Genesee Rd	0.39mi	5/4.5	3,247 (-4%)	6mo	$233,000	$72	68
1543 Genesee Rd	0.42mi	5/3.0	3,431 (+1%)	11mo	$242,500	$71	66
1537 Genesee Rd	0.42mi	4/2.0 (-1)	3,530 (+4%)	11mo	$190,000	$54	52
3983 Elmwood Rd	0.71mi	6/3.0 (+1)	3,620 (+6%)	4mo	$292,300	$81	43
1514 Genesee Rd	0.43mi	6/2.0 (+1)	3,018 (-11%)	13mo	$230,000	$76	37

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 · 6.85% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.65×
• Total profit: $52,865
• Equity at exit: $43,091

10-year hold

• IRR: 27.1%
• Equity multiple: 3.88×
• Total profit: $232,948
• Equity at exit: $24,987

Cash invested: $80,920 (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 44121

• Rents YoY: 6.8%
• Active inventory: 148
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $4,553 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$632 /mo · $7,583/yr
• Insurance: −$120
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$956
• Net cashflow: $1,273

Break-even live

Break-even rent $2,941

Max offer price $289,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$4,554
Total (3 units)			$4,553

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2056 Laurelhill Dr Cleveland, OH	4.0	2.5	2482	$2,500	$1.01	3d	1	1.15mi
554 Greenvale Rd Cleveland, OH	4.0	3.0	3237	$2,995	$0.93	15d	1	1.43mi

Listing history 22 events

1. 2026-06-18
   days on market $289,000 Active 52 DOM
2. 2026-06-17
   days on market $289,000 Active 51 DOM
3. 2026-06-16
   days on market $289,000 Active 50 DOM
4. 2026-06-15
   days on market $289,000 Active 49 DOM
5. 2026-06-13
   days on market $289,000 Active 47 DOM
6. 2026-06-13
   days on market $289,000 Active 46 DOM
7. 2026-06-09
   days on market $289,000 Active 43 DOM
8. 2026-06-08
   days on market $289,000 Active 42 DOM
9. 2026-06-07
   days on market $289,000 Active 41 DOM
10. 2026-06-05
    days on market $289,000 Active 38 DOM
11. 2026-06-03
    days on market $289,000 Active 37 DOM
12. 2026-06-02
    days on market $289,000 Active 36 DOM
13. 2026-06-01
    days on market $289,000 Active 35 DOM
14. 2026-05-31
    days on market $289,000 Active 34 DOM
15. 2026-04-27
    historical
16. 2026-04-27
    listed $298,000 Active 799-char remark
17. 2026-03-18
    status Active
18. 2025-12-29
    status Pending
19. 2025-12-29
    historical Contingent
20. 2025-12-12
    listed $274,000 Active
21. 2015-11-06
    soldstatus $130,000
22. 1994-09-19
    soldstatus $100,000

ⓘ 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: $7,583 · $632/mo
• Projected year-2 tax: $7,583 · $632/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,636
• − Mortgage interest: −$16,188
• − Property taxes: −$7,583
• − Insurance: −$2,112
• − Repairs & maintenance: −$4,371
• − Management: −$4,371
• − Depreciation: −$8,407
• Taxable income: $11,604
• Est. tax owed @ 24.0%: −$2,785
• After-tax cash flow: $12,496/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: South Euclid-Lyndhurst City
• NCES district ID: 3904479
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $61,244
• Composite: 30.51/100
• National rank: #6212
• State rank: #556 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): 32,312
• Household income: $76,767
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 672.0

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: Black 55% White 36% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Italian 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada, China, India
• Languages at home: 92% 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: ▼ -180.15%
• Current HPI: 173.7405
• Rent YoY: ▲ 6.85%
• 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

+189.0% since first listed

9 events — show timeline

• 2026-05-26 Price Changed $289,000 MLSNOW
• 2026-04-27 Listing Removed — MLSNOW
• 2026-04-27 Listed $298,000 MLSNOW
• 2026-03-18 Relisted — MLSNOW
• 2025-12-29 Pending — MLSNOW
• 2025-12-29 Contingent — MLSNOW
• 2025-12-12 Listed $274,000 MLSNOW
• 2015-11-06 Sold (Public Records) $130,000 Public Records
• 1994-09-19 Sold (Public Records) $100,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $7,583 · +9.4% YoY. Source: county tax records.