3045 Livingston Rd · Cleveland, OH 44120

$160,000

4 bd · 2.0 ba · 2,100 sqft · MultiFamily public records · 25 Days on market

Built 1952 5,850 sqft lot Est $160k · at est.

---

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 +29.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.4/15.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 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

Attention Investors! Fully occupied two-family home located in a highly sought-after area with easy access to downtown, surrounding suburbs, restaurants, shopping, and everyday conveniences. Situated in Cleveland and within the desirable Shaker Heights School District, this property offers strong rental appeal and long-term investment potential. This spacious multifamily property features a total of 5 bedrooms. Both units offer similar layouts and square footage, with the second-floor unit utilizing the finished third floor as an additional third bedroom. Beautiful hardwood floors run throughout much of both units, adding character and charm. Additional features include some newer windows,

Key facts

• Two family home
• Strong rental appeal
• 5,850 sq ft lot

Tags

• TWO FAMILY HOME
• HIGHLY SOUGHT AFTER AREA
• EASY ACCESS TO DOWNTOWN
• SHAKER HEIGHTS SCHOOL DISTRICT
• STRONG RENTAL APPEAL
• LONG TERM INVESTMENT POTENTIAL

Property features AI

Finance

• Financial info: Two residential units currently leased; Each unit reported rent: $850; Unit 1 lease expires August 1, 2025; Unit 2 lease expired October 1, 2022

Exterior

• Parking: Detached garage with 3 garage spaces; Additional asphalt parking
• Utilities: Public water; Public sewer; Has heating (forced air)
• Home design: Brick construction; Asphalt/fiberglass roof; Single building containing multiple units; 2,100 above-grade finished area
• Construction: Brick exterior; Asphalt/fiberglass roof
• Exterior features: Asphalt driveway; Additional parking; Detached garage

Interior

• Bedrooms: Two 2-bedroom units (one listed as 'down')
• Bathrooms: Two full bathrooms (total for property); Each unit has 1 bathroom
• Heating & cooling: Forced air heating
• Interior features: Full, partially finished basement; Total of 10 rooms

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive. Per door: $289/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.6% in 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 71/100 on livability (#403 in OH) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D-, crime F, employment F.
• Shaker Heights City (suburban): math 50% / reading 63% proficiency, ranked #309 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.3%/yr); 125 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,422/mo this rent would consume 62% of the median local household income ($47k/yr) (locally 2289% 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 + 3.3% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($158k) 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.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,600 (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 1952 — 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 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?
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: 1.51% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.47%
• DSCR: 1.69
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $159,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3045 Livingston Rd	0.00mi	4/2.0	2,100 (0%)	0mo	$160,000	$76	100

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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.26×
• Total profit: $11,869
• Equity at exit: $23,857

10-year hold

• IRR: 16.5%
• Equity multiple: 2.38×
• Total profit: $61,861
• 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 44120

• Rents YoY: 3.3%
• Active inventory: 125
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,422 high
• Mortgage (P&I): −$839
• Tax from tax record: −$430 /mo · $5,161/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $578

Break-even live

Break-even rent $1,691

Max offer price $160,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,422
Total (2 units)			$2,422

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3012 Albion Rd Cleveland, OH	3.0	1.5	1942	$1,900	$0.98	2d	1	0.14mi
14108 Becket Rd Cleveland, OH	4.0	3.5	1660	$2,206	$1.33	43d	1	0.39mi
2560 N Moreland Blvd Cleveland, OH	2.0–3.0	2.0–3.5	1800	$4,100	$2.28	1d	1	0.88mi
16015 Van Aken Blvd Cleveland, OH	2.0–4.0	2.0	1360	$1,395	$1.03	7d	4	1.26mi
2315 S Overlook Rd Unit N Cleveland Heights, OH	3.0	2.5	1500	$1,395	$0.93	4d	1	1.46mi
2280 Grandview Ave Cleveland, OH	5.0	1.5	2500	$2,000	$0.80	7d	1	1.48mi

Listing history 9 events

1. 2026-06-02
   status $160,000 Pending 25 DOM
2. 2026-06-01
   days on market $160,000 Contingent 25 DOM
3. 2026-05-31
   days on market $160,000 Contingent 24 DOM
4. 2026-05-15
   historical Contingent
5. 2026-05-07
   listed $160,000 Active
6. 2026-04-30
   historical
7. 2026-04-28
   status Active
8. 2026-04-09
   historical Contingent
9. 2026-03-15
   listed $155,000 Active

ⓘ 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: $5,161 · $430/mo
• Projected year-2 tax: $5,161 · $430/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: $29,064
• − Mortgage interest: −$8,962
• − Property taxes: −$5,161
• − Insurance: −$800
• − Repairs & maintenance: −$2,325
• − Management: −$2,325
• − Depreciation: −$4,655
• Taxable income: $4,836
• Est. tax owed @ 24.0%: −$1,161
• After-tax cash flow: $5,770/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: Shaker Heights City
• NCES district ID: 3904475
• Math proficiency: 50% ▼ -16.00%
• Reading proficiency: 63% ▼ -6.00%
• Median HH income: $69,421
• Composite: 49.98/100
• National rank: #1928
• State rank: #309 of 656 in OH

Livability — Cleveland

• Score: 71/100
• State rank: #403
• US rank: #6673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 326,883
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 33,202
• Household income: $47,126
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2289.0

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 (68%)
• Race & ethnicity: Black 68% White 21% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 5% · China, Canada
• Languages at home: 93% 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: ▼ -201.50%
• Current HPI: 108.2487
• Rent YoY: ▲ 3.34%
• 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

+3.2% since first listed

6 events — show timeline

• 2026-05-15 Contingent — MLSNOW
• 2026-05-07 Listed $160,000 MLSNOW
• 2026-04-30 Listing Removed — MLSNOW
• 2026-04-28 Relisted — MLSNOW
• 2026-04-09 Contingent — MLSNOW
• 2026-03-15 Listed $155,000 MLSNOW

Property tax history

+3.2%/yr

Latest (2025): $5,161 · +12.8% YoY. Source: county tax records.