2201 Oakdale Rd · Cleveland Heights, OH 44118

$269,900

4 bd · 2.0 ba · 2,340 sqft · MultiFamily public records · 42 Days on market

Built 1922 5,401 sqft lot Est $264k · at est.

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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
• ARV discount +6.6/15.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• Schools +2.8/10.0
• 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: 3 units. confirmed

Listing remarks

Nice 3 family home in the desirable Cedar Lee neighborhood of Cleveland Heights. Lots of upgrades including updated kitchens and baths. Newer 2 car garage. Very walkable neighborhood minutes from restaurants, coffee shops, and the public library. Easy access to public transportation. Minutes to University Circle and Downtown.

Key facts

• Updated baths
• Minutes to downtown
• Updated kitchens

Tags

• CEDAR LEE NEIGHBORHOOD
• UPDATED KITCHENS
• UPDATED BATHS
• WALKABLE NEIGHBORHOOD
• MINUTES TO UNIVERSITY CIRCLE
• MINUTES TO DOWNTOWN

Property features AI

Finance

• Financial info: Unit rents include: one unit currently leased at $615/month (lease expires February 28, 2027)

Exterior

• Parking: Driveway; Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Multi-unit building (1 building); Above-grade finished area approximately 2,940 (estimated)
• Construction: Aluminum siding; Asphalt/fiberglass roof
• Exterior features: Small lot (approximately 0.124 acres)

Interior

• Kitchen: Kitchens included in each unit
• Bedrooms: One 1-bedroom unit (third floor); Two 2-bedroom units (first floor and upper); Units: one 1-bed, two 2-bed
• Bathrooms: Three full bathrooms (building total); Each unit includes 1 bathroom
• Heating & cooling: Forced air heating
• Interior features: Full unfinished basement; 13 total rooms
• Laundry & utility: Tenant pays all utilities

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $780/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $270k).
• Recommended offer: $262k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 4.4% in Cleveland Heights — 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 89/100 on livability (#12 in OH, #124 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Cleveland Heights-University Heights City (suburban): math 23% / reading 41% proficiency, ranked #568 of 656 in OH (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.7%/yr); 253 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $5,487/mo this rent would consume 85% of the median local household income ($78k/yr) (locally 1847% 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 $8k 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 + 5.7% rent growth), your $76k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 $90k; list at $270k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $261,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1922 — 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 A-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?
7. 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.
8. 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.
9. 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: 2.03% ✓
• Cap rate: 16.70%
• Cash-on-cash: 37.15%
• DSCR: 2.65
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $264,420
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2189 Edgewood Rd	0.07mi	4/2.0	2,598 (+11%)	5mo	$242,000	$93	75
2165 Oakdale Rd	0.06mi	4/2.0	2,610 (+12%)	6mo	$273,000	$105	73
3221 Bradford Rd	0.62mi	4/2.0	2,356 (+1%)	1mo	$345,000	$146	69
3158 Kensington Rd	0.15mi	5/3.0 (+1)	2,098 (-10%)	10mo	$264,000	$126	58
2168 Edgewood Rd	0.06mi	5/3.5 (+1)	2,509 (+7%)	23mo	$335,000	$134	55
3474 Raymont Blvd	0.66mi	4/2.0	2,126 (-9%)	2mo	$184,500	$87	52
13526 Cedar Rd	0.74mi	4/2.0	2,520 (+8%)	6mo	$285,000	$113	48
3406 Clarendon Rd	0.70mi	5/3.0 (+1)	2,464 (+5%)	16mo	$200,000	$81	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 · 5.7% rent growth · sell at horizon

5-year hold

• IRR: 36.2%
• Equity multiple: 2.60×
• Total profit: $120,750
• Equity at exit: $40,243

10-year hold

• IRR: 44.3%
• Equity multiple: 5.82×
• Total profit: $364,083
• Equity at exit: $23,336

Cash invested: $75,572 (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 44118

• Rents YoY: 5.7%
• Active inventory: 253
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $5,487 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$467 /mo · $5,607/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,152
• Net cashflow: $2,340

Break-even live

Break-even rent $2,525

Max offer price $269,900

Occupancy floor 52%

Sensitivity live

Price	-10% $2,492	-5% $2,416	+0% $2,340	+5% $2,263	+10% $2,187
Rent	-10% $1,906	-5% $2,123	+0% $2,340	+5% $2,556	+10% $2,773
Rate	-1.0pp $2,476	-0.5pp $2,408	base $2,340	+0.5pp $2,270	+1.0pp $2,199

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$5,487
Total (3 units)			$5,487

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13108 Cedar Rd Unit 13108 Cleveland Heights, OH	4.0	2.0	2116	$1,450	$0.69	24d	1	0.09mi
13108 Cedar Rd Cleveland, OH	4.0	2.0	2116	$1,500	$0.71	24d	1	0.09mi
3062 E Derbyshire Rd Cleveland, OH	3.0	1.0	1650	$3,000	$1.82	24d	1	0.22mi
12908 Cedar Rd Cleveland, OH	5.0	1.5	1650	$2,600	$1.58	21d	1	0.45mi
3428 Superior Park Dr Cleveland Heights, OH	3.0	2.0	1704	$1,325	$0.78	22d	1	0.70mi
1796 Cumberland Rd Cleveland Heights, OH	4.0	2.5	2100	$1,800	$0.86	18d	1	0.71mi
3230 Euclid Heights Blvd Unit NA Cleveland Heights, OH	4.0	1.0	1705	$2,270	$1.33	24d	1	0.83mi
3355 Desota Ave Cleveland, OH	5.0	2.0	2540	$2,031	$0.80	8d	1	0.84mi
3621 Silsby Rd Unit 1496056P University Heights, OH	4.0	2.5	1603	$7,927	$4.95	3d	1	0.90mi
2267 Edgerton Rd University Heights, OH	3.0	1.5	1958	$1,750	$0.89	17d	1	1.14mi
2580 Overlook Rd Cleveland, OH	3.0	1.0–2.0	1125	$1,740	$1.55	2d	12	1.19mi
3699 Bainbridge Rd Cleveland, OH	3.0	1.5	1866	$1,900	$1.02	17d	1	1.22mi
2827 Avondale Ave Apt 2 Cleveland Heights, OH	3.0	1.0	1680	$1,275	$0.76	24d	1	1.23mi
1641 Coventry Rd Cleveland, OH	3.0	1.0	1848	$1,200	$0.65	17d	1	1.23mi
3829 Washington Blvd University Heights, OH	3.0	1.0	1577	$2,250	$1.43	17d	1	1.28mi
2460 Euclid Heights Blvd Cleveland, OH	5.0	2.0	2216	$600	$0.27	17d	1	1.33mi
3824 E Antisdale Rd Cleveland, OH	3.0	1.0	1903	$1,650	$0.87	17d	1	1.33mi
2560 N Moreland Blvd Cleveland, OH	2.0–3.0	2.0–3.5	1800	$4,100	$2.28	2d	1	1.38mi
2280 Grandview Ave Cleveland, OH	5.0	1.5	2500	$2,000	$0.80	8d	1	1.39mi
3895 Colony Rd Cleveland, OH	3.0	2.0	1800	$1,700	$0.94	17d	1	1.43mi
3921 Bushnell Rd Cleveland, OH	3.0	2.0	2175	$2,400	$1.10	20d	1	1.46mi

Listing history 26 events

1. 2026-06-18
   days on market $269,900 Active 42 DOM
2. 2026-06-17
   days on market $269,900 Active 41 DOM
3. 2026-06-16
   days on market $269,900 Active 40 DOM
4. 2026-06-15
   days on market $269,900 Active 39 DOM
5. 2026-06-13
   days on market $269,900 Active 37 DOM
6. 2026-06-09
   days on market $269,900 Active 33 DOM
7. 2026-06-08
   days on market $269,900 Active 32 DOM
8. 2026-06-07
   days on market $269,900 Active 31 DOM
9. 2026-06-05
   days on market $269,900 Active 28 DOM
10. 2026-06-03
    days on market $269,900 Active 27 DOM
11. 2026-06-02
    days on market $269,900 Active 26 DOM
12. 2026-06-01
    days on market $269,900 Active 25 DOM
13. 2026-05-31
    days on market $269,900 Active 24 DOM
14. 2026-05-09
    historical $1,250
15. 2026-05-07
    listed $269,900 Active
16. 2026-04-27
    listed $1,250
17. 2026-04-03
    historical $1,300
18. 2026-04-01
    listed $1,300
19. 2026-03-25
    historical $1,300
20. 2025-11-15
    listed $1,300
21. 2025-07-09
    historical
22. 2025-03-05
    listed $289,900 Active
23. 2021-10-01
    historical
24. 2021-07-06
    listed $219,900 Active
25. 2021-07-02
    historical
26. 2021-04-29
    soldstatus $90,000

ⓘ 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: $5,607 · $467/mo
• Projected year-2 tax: $5,607 · $467/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: $65,844
• − Mortgage interest: −$15,119
• − Property taxes: −$5,607
• − Insurance: −$1,350
• − Repairs & maintenance: −$5,268
• − Management: −$5,268
• − Depreciation: −$7,852
• Taxable income: $25,383
• Est. tax owed @ 24.0%: −$6,092
• After-tax cash flow: $21,984/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: Cleveland Heights-University Heights City
• NCES district ID: 3904379
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $53,451
• Composite: 28.12/100
• National rank: #6822
• State rank: #568 of 656 in OH

Livability — Cleveland Heights

• Score: 89/100
• State rank: #12
• US rank: #124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 32,312
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 40,715
• Household income: $77,555
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1847.0

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: White 57% Black 33% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -319.62%
• Current HPI: 204.5504
• Rent YoY: ▲ 5.70%
• 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

-98.6% since first listed

13 events — show timeline

• 2026-05-09 Rental Removed $1,250 RENTALBEAST
• 2026-05-07 Listed $269,900 MLSNOW
• 2026-04-27 Listed for Rent $1,250 RENTALBEAST
• 2026-04-03 Rental Removed $1,300 RENTALBEAST
• 2026-04-01 Listed for Rent $1,300 RENTALBEAST
• 2026-03-25 Rental Removed $1,300 RENTALBEAST
• 2025-11-15 Listed for Rent $1,300 RENTALBEAST
• 2025-07-09 Listing Removed — MLSNOW
• 2025-03-05 Listed $289,900 MLSNOW
• 2021-10-01 Listing Removed — MLSNOW
• 2021-07-06 Listed $219,900 MLSNOW
• 2021-07-02 Coming Soon — MLSNOW
• 2021-04-29 Sold (Public Records) $90,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $5,607 · -2.0% YoY. Source: county tax records.