16308 Nela View Rd · East Cleveland, OH 44112

$160,000

6 bd · 2.0 ba · 2,621 sqft · MultiFamily public records · 37 Days on market

Built 1920 4,281 sqft lot Est $144k · 11% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• 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 MLS

Great Opportunity for Investors! Multi-Family 2 BED, 2nd unit has access to 3rd floor to make it 1562sq ft, Some updates, with 2-Car Detached Garage! Front and back Porches. Partial fenced yard.

Key facts

• 4,281 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Financial info: Lower unit rented for $1,000 (leased); Upper unit rented for $1,200 (leased)

Exterior

• Parking: Detached garage with 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Multi-unit property with 1 building; Upper and lower units
• Construction: Built (year per public records); Asphalt/fiberglass roof
• Exterior features: Wood siding; Lot approximately 0.098 acres

Interior

• Bedrooms: Lower unit: 2 bedrooms; Upper unit: 3 bedrooms
• Bathrooms: Two full bathrooms total (property)
• Heating & cooling: Forced air heating
• Interior features: Full unfinished basement with interior entry; Updated / remodeled condition; 12 total rooms

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $718/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.

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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,105/mo this rent would consume 129% 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 $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 + 5.2% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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 $57k; list at $160k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 1.94% ✓
• Cap rate: 17.06%
• Cash-on-cash: 38.45%
• DSCR: 2.71
• GRM: 4.3

CMA / ARV

• ARV (median comp): $143,706
• List price: $160,000
• Delta: 11.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
817 Helmsdale Rd	0.15mi	5/3.0 (-1)	2,576 (-2%)	5mo	$153,000	$59	77
2304 Noble Rd	0.34mi	5/2.0 (-1)	2,402 (-8%)	23mo	$138,000	$57	46
1756 Noble	0.72mi	6/2.0	2,396 (-9%)	24mo	$152,500	$64	32

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: 36.9%
• Equity multiple: 2.62×
• Total profit: $72,386
• Equity at exit: $23,857

10-year hold

• IRR: 44.6%
• Equity multiple: 5.69×
• Total profit: $210,295
• Equity at exit: $13,834

Cash invested: $44,800 (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: 8.6×

Monthly cashflow live

• Estimated rent: $3,105 high
• Mortgage (P&I): −$839
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $1,435

Break-even live

Break-even rent $1,288

Max offer price $160,000

Occupancy floor 49%

Sensitivity live

Price	-10% $1,526	-5% $1,481	+0% $1,435	+5% $1,390	+10% $1,345
Rent	-10% $1,190	-5% $1,313	+0% $1,435	+5% $1,558	+10% $1,681
Rate	-1.0pp $1,516	-0.5pp $1,476	base $1,435	+0.5pp $1,394	+1.0pp $1,352

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,106
Total (2 units)			$3,105

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1853 Noble Rd Cleveland, OH	7.0	2.0	2387	$600	$0.25	44d	1	0.53mi
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	44d	1	0.55mi
3777 Montevista Rd Cleveland, OH	5.0	2.0	2050	$2,900	$1.41	2d	1	1.20mi

Listing history 20 events

1. 2026-06-18
   days on market $160,000 Active 37 DOM
2. 2026-06-17
   days on market $160,000 Active 36 DOM
3. 2026-06-16
   days on market $160,000 Active 35 DOM
4. 2026-06-15
   days on market $160,000 Active 34 DOM
5. 2026-06-13
   days on market $160,000 Active 32 DOM
6. 2026-06-13
   days on market $160,000 Active 31 DOM
7. 2026-06-09
   days on market $160,000 Active 28 DOM
8. 2026-06-08
   days on market $160,000 Active 27 DOM
9. 2026-06-07
   days on market $160,000 Active 26 DOM
10. 2026-06-05
    days on market $160,000 Active 23 DOM
11. 2026-06-03
    days on market $160,000 Active 22 DOM
12. 2026-06-02
    days on market $160,000 Active 21 DOM
13. 2026-06-01
    days on market $160,000 Active 20 DOM
14. 2026-05-31
    days on market $160,000 Active 19 DOM
15. 2026-05-11
    listed $160,000 Active 471-char remark
16. 2023-06-02
    soldstatus $57,000
17. 2023-05-31
    soldstatus $57,000 Closed 198-char remark

    Show marketing remark (198 chars)

    Great Opportunity for Investors! Multi-Family 2 BED, 2nd unit has access to 3rd floor to make it 1562sq ft, Some updates, with 2-Car Detached Garage! Front and back Porches. Partial fenced yard.

18. 2023-02-26
    status Pending 198-char remark

    Show marketing remark (198 chars)

    Great Opportunity for Investors! Multi-Family 2 BED, 2nd unit has access to 3rd floor to make it 1562sq ft, Some updates, with 2-Car Detached Garage! Front and back Porches. Partial fenced yard.

19. 2023-02-23
    listed $61,000 Active 198-char remark

    Show marketing remark (198 chars)

    Great Opportunity for Investors! Multi-Family 2 BED, 2nd unit has access to 3rd floor to make it 1562sq ft, Some updates, with 2-Car Detached Garage! Front and back Porches. Partial fenced yard.

20. 1975-10-01
    soldstatus $25,000

ⓘ 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: $1,341 · $112/mo
• Projected year-2 tax: $1,918 · $160/mo
• Expected delta: +$578/yr (+$48/mo · 43.1%)

ⓘ 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 · 16 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: $37,260
• − Mortgage interest: −$8,962
• − Property taxes: −$1,341
• − Insurance: −$800
• − Repairs & maintenance: −$2,981
• − Management: −$2,981
• − Depreciation: −$4,655
• Taxable income: $15,540
• Est. tax owed @ 24.0%: −$3,730
• After-tax cash flow: $13,496/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: 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

+540.0% since first listed

6 events — show timeline

• 2026-05-11 Listed $160,000 MLSNOW
• 2023-06-02 Sold (Public Records) $57,000 Public Records
• 2023-05-31 Sold (MLS) $57,000 MLSNOW
• 2023-02-26 Pending — MLSNOW
• 2023-02-23 Listed $61,000 MLSNOW
• 1975-10-01 Sold (Public Records) $25,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,341 · +81.8% YoY. Source: county tax records.