3954 Bluestone Rd · Cleveland Heights, OH 44121

$185,000

3 bd · 1.5 ba · 1,450 sqft · SingleFamily public records · 21 Days on market

Built 1927 5,061 sqft lot Est $213k · 13% under

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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 +15.4/30.0
• ARV discount +13.4/15.0
• 1% rule +4.7/10.0
• DSCR +4.7/10.0
• Livability +4.5/5.0
• Rent growth +4.2/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this spacious 4 bed 2 bath colonial home. The freshly painted and carpeted living room, dining room and bedrooms give it a warm feeling. New laminate kitchen flooring and counters give this home a fresh clean look. The basement floor is renovated with nature stone flooring. The third level bedroom is spacious and inviting. A sealed asphalt drive, 2 car garage, and a fenced backyard are some of the added perks. Come take a look you'll be pleasantly surprised! POS compliant, violation free.

Key facts

• 5,061 sq ft lot
• 2 garage spots
• Built 1927

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2-story home; Brick construction; Asphalt/fiberglass roof
• Construction: Built (year per public records); Brick construction; Asphalt/fiberglass roof; Full basement foundation
• Exterior features: Deck

Interior

• Bedrooms: Total rooms: 8
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Wall cooling unit(s)
• Interior features: Full basement; Fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $71 ($849/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (2.7% below list).
• Recommended offer: $180k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 (+6.8%/yr); 148 active listings in the ZIP; 40 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $142k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,975 (2.7% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.97% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.64%
• DSCR: 1.07
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $213,150
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3837 Woodridge Rd	0.23mi	3/1.5	1,440 (-1%)	0mo	$166,470	$116	88
923 Cambridge Rd	0.41mi	3/1.5	1,472 (+2%)	2mo	$217,000	$147	77
1056 Quilliams Rd	0.47mi	3/1.5	1,396 (-4%)	2mo	$210,000	$150	70
1375 Winston	0.53mi	3/1.5	1,364 (-6%)	2mo	$109,600	$80	64
4014 Rosemond Rd	0.28mi	4/1.5 (+1)	1,609 (+11%)	0mo	$131,500	$82	63
3965 Monticello Blvd	0.31mi	4/2.5 (+1)	1,568 (+8%)	2mo	$135,000	$86	62
1272 Winston Rd	0.37mi	3/2.5	1,303 (-10%)	1mo	$211,100	$162	61
862 Keystone Dr	0.54mi	4/1.5 (+1)	1,549 (+7%)	1mo	$229,900	$148	58
952 Oxford Rd	0.49mi	4/2.0 (+1)	1,560 (+8%)	2mo	$180,000	$115	56
1168 Brentwood Rd	0.56mi	4/2.5 (+1)	1,559 (+8%)	1mo	$264,400	$170	51
979 Oxford Rd	0.43mi	4/2.0 (+1)	1,640 (+13%)	1mo	$178,000	$109	50
4322 Tamalga Dr	0.73mi	2/1.5 (-1)	1,236 (-15%)	1mo	$190,000	$154	35

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: -9.2%
• Equity multiple: 0.65×
• Total profit: $-18,161
• Equity at exit: $27,584

10-year hold

• IRR: 5.0%
• Equity multiple: 1.43×
• Total profit: $22,447
• Equity at exit: $15,995

Cash invested: $51,800 (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 44121

• Rents YoY: 6.8%
• Active inventory: 148
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,800 high
• Mortgage (P&I): −$970
• Tax from tax record: −$304 /mo · $3,646/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $71

Break-even live

Break-even rent $1,710

Max offer price $185,000

Occupancy floor 91%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3917 Bluestone Rd Cleveland, OH	4.0	1.5	1700	$1,650	$0.97	21d	1	0.09mi
3808 Kirkwood Rd Cleveland, OH	4.0	1.5	1740	$2,150	$1.24	15d	1	0.35mi
2868 Noble Rd Cleveland, OH	3.0	1.5	1200	$1,250	$1.04	24d	1	0.36mi
2868 Noble Rd Unit 16 Cleveland Heights, OH	3.0	1.5	1200	$1,750	$1.46	2d	1	0.37mi
3810 Parkdale Rd Cleveland, OH	3.0	1.5	1281	$2,067	$1.61	2d	1	0.44mi
3755 Mayfield Rd Cleveland Heights, OH	1.0–2.0	1.0	800	$1,175	$1.47	24d	1	0.64mi
1405 Villa Dr Cleveland, OH	4.0	1.5	1480	$1,790	$1.21	16d	1	0.66mi
1420 Villa Dr Cleveland, OH	3.0	2.0	1600	$1,550	$0.97	44d	1	0.66mi
1462 Parkhill Rd Cleveland, OH	4.0	1.0	1451	$1,950	$1.34	2d	1	0.67mi
1478 Sherbrook Rd Cleveland, OH	3.0	1.0	1170	$1,195	$1.02	44d	1	0.67mi
1497 S Noble Rd Cleveland, OH	4.0	1.0	1250	$2,650	$2.12	2d	1	0.67mi
1462 Felton Rd Cleveland, OH	3.0	1.0	1222	$1,500	$1.23	16d	1	0.69mi
994 Yellowstone Rd Cleveland, OH	3.0	2.0	1475	$1,395	$0.95	2d	1	0.69mi
1035 Elbon Rd Cleveland, OH	4.0	1.5	1304	$1,675	$1.28	16d	1	0.81mi
1007 Elbon Rd Cleveland, OH	3.0	1.0	1386	$1,400	$1.01	11d	1	0.83mi
1099 Woodview Rd Cleveland, OH	4.0	1.0	1500	$2,500	$1.67	2d	1	0.86mi
4409 Adrian Rd Cleveland, OH	4.0	2.5	1542	$1,855	$1.20	2d	1	0.87mi
1584 Maple Rd Cleveland, OH	3.0	2.0	1359	$1,700	$1.25	24d	1	0.92mi
1599 Felton Rd Cleveland, OH	3.0	1.5	1248	$1,650	$1.32	44d	1	0.95mi
967 Selwyn Rd Cleveland, OH	3.0	1.5	1214	$1,595	$1.31	16d	1	0.99mi
963 Selwyn Rd Cleveland, OH	4.0	1.0	1300	$2,650	$2.04	2d	1	0.99mi
3430 Winsford Rd Cleveland, OH	4.0	1.5	1800	$1,590	$0.88	16d	1	1.00mi
3406 Henderson Rd Cleveland, OH	4.0	1.5	1343	$2,250	$1.68	16d	1	1.01mi
1344 S Green Rd Cleveland, OH	3.0	1.0	1076	$1,150	$1.07	16d	1	1.02mi
2401 N Taylor Rd Cleveland, OH	3.0	1.0	1347	$1,325	$0.98	8d	1	1.02mi
303 S Green Rd Cleveland, OH	4.0	2.0	1381	$1,700	$1.23	2d	1	1.03mi
953 Whitby Rd Cleveland, OH	3.0	2.0	1188	$1,575	$1.33	24d	1	1.05mi
3802 Princeton Blvd Cleveland, OH	3.0	1.5	1656	$2,275	$1.37	2d	1	1.05mi
983 Greyton Rd Cleveland, OH	3.0	2.0	1457	$1,495	$1.03	16d	1	1.10mi
35 Severance Cir Cleveland Heights, OH	1.0–2.0	1.0–2.0	832	$1,570	$1.89	2d	26	1.13mi
3337 Sylvanhurst Rd Cleveland, OH	3.0	1.0	1334	$1,800	$1.35	8d	1	1.14mi
915 Nela View Rd Cleveland, OH	4.0	1.0	1300	$2,600	$2.00	16d	1	1.17mi
4166 Ellison Rd Cleveland, OH	3.0	2.0	1131	$1,695	$1.50	3d	1	1.24mi
30 Severance Cir Cleveland Heights, OH	1.0–2.0	1.0–2.0	762	$1,700	$2.23	2d	18	1.24mi
886 Helmsdale Rd Cleveland Heights, OH	2.0	1.0	1037	$995	$0.96	16d	1	1.25mi
4165 Harwood Rd Cleveland, OH	4.0	2.0	1608	$1,950	$1.21	44d	1	1.27mi
3830 Berkeley Rd Cleveland, OH	3.0	1.5	1318	$1,800	$1.37	24d	1	1.35mi
876 Eloise Dr Unit Upper Cleveland Heights, OH	2.0	1.0	1233	$1,200	$0.97	16d	1	1.36mi
4241 Bayard Rd Cleveland, OH	3.0	2.0	1350	$1,995	$1.48	24d	1	1.42mi
3699 Bainbridge Rd Cleveland, OH	3.0	1.5	1866	$1,900	$1.02	16d	1	1.43mi

Listing history 23 events

1. 2026-06-18
   days on market $185,000 Active 21 DOM
2. 2026-06-17
   days on market $185,000 Active 20 DOM
3. 2026-06-16
   days on market $185,000 Active 19 DOM
4. 2026-06-15
   days on market $185,000 Active 18 DOM
5. 2026-06-13
   days on market $185,000 Active 16 DOM
6. 2026-06-09
   days on market $185,000 Active 12 DOM
7. 2026-06-08
   days on market $185,000 Active 11 DOM
8. 2026-06-07
   days on market $185,000 Active 10 DOM
9. 2026-06-05
   days on market $185,000 Active 7 DOM
10. 2026-06-03
    days on market $185,000 Active 6 DOM
11. 2026-06-02
    days on market $185,000 Active 5 DOM
12. 2026-06-01
    days on market $185,000 Active 4 DOM
13. 2026-05-31
    days on market $185,000 Active 3 DOM
14. 2026-05-28
    listed $185,000 Active
15. 2023-07-03
    historical
16. 2023-01-09
    status Pending 502-char remark

    Show marketing remark (502 chars)

    Come see this spacious 4 bed 2 bath colonial home. The freshly painted and carpeted living room, dining room and bedrooms give it a warm feeling. New laminate kitchen flooring and counters give this home a fresh clean look. The basement floor is renovated with nature stone flooring. The third level bedroom is spacious and inviting. A sealed asphalt drive, 2 car garage, and a fenced backyard are some of the added perks. Come take a look you'll be pleasantly surprised! POS compliant, violation free.

17. 2023-01-09
    soldstatus $142,000 Closed 502-char remark

    Show marketing remark (502 chars)

    Come see this spacious 4 bed 2 bath colonial home. The freshly painted and carpeted living room, dining room and bedrooms give it a warm feeling. New laminate kitchen flooring and counters give this home a fresh clean look. The basement floor is renovated with nature stone flooring. The third level bedroom is spacious and inviting. A sealed asphalt drive, 2 car garage, and a fenced backyard are some of the added perks. Come take a look you'll be pleasantly surprised! POS compliant, violation free.

18. 2023-01-09
    soldstatus $142,000

    Show marketing remark (502 chars)

    Come see this spacious 4 bed 2 bath colonial home. The freshly painted and carpeted living room, dining room and bedrooms give it a warm feeling. New laminate kitchen flooring and counters give this home a fresh clean look. The basement floor is renovated with nature stone flooring. The third level bedroom is spacious and inviting. A sealed asphalt drive, 2 car garage, and a fenced backyard are some of the added perks. Come take a look you'll be pleasantly surprised! POS compliant, violation free.

19. 2022-12-14
    historical Contingent 502-char remark

    Show marketing remark (502 chars)

    Come see this spacious 4 bed 2 bath colonial home. The freshly painted and carpeted living room, dining room and bedrooms give it a warm feeling. New laminate kitchen flooring and counters give this home a fresh clean look. The basement floor is renovated with nature stone flooring. The third level bedroom is spacious and inviting. A sealed asphalt drive, 2 car garage, and a fenced backyard are some of the added perks. Come take a look you'll be pleasantly surprised! POS compliant, violation free.

20. 2022-12-09
    listed $144,900 Active 502-char remark

    Show marketing remark (502 chars)

    Come see this spacious 4 bed 2 bath colonial home. The freshly painted and carpeted living room, dining room and bedrooms give it a warm feeling. New laminate kitchen flooring and counters give this home a fresh clean look. The basement floor is renovated with nature stone flooring. The third level bedroom is spacious and inviting. A sealed asphalt drive, 2 car garage, and a fenced backyard are some of the added perks. Come take a look you'll be pleasantly surprised! POS compliant, violation free.

21. 2004-12-09
    soldstatus $82,000
22. 2004-10-20
    soldstatus $82,000 202-char remark

    Show marketing remark (202 chars)

    Terrific Opportunity For Enterprising First-time Buyer Or Renovator Of This Charming Tudor-style Colonial In Need Of Cosmetics. House Being Sold 'as Is' And Buyer To Assume Cleveland Heights Violations.

23. 2004-08-12
    listed $89,900 202-char remark

    Show marketing remark (202 chars)

    Terrific Opportunity For Enterprising First-time Buyer Or Renovator Of This Charming Tudor-style Colonial In Need Of Cosmetics. House Being Sold 'as Is' And Buyer To Assume Cleveland Heights Violations.

ⓘ 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: $3,646 · $304/mo
• Projected year-2 tax: $3,646 · $304/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 2/10 Low 7 d/yr ≥95°F today · 16 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: $21,597
• − Mortgage interest: −$10,363
• − Property taxes: −$3,646
• − Insurance: −$925
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,382
• Taxable loss: −$2,174
• Est. tax savings @ 24.0%: +$522
• After-tax cash flow: $1,370/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): 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

+105.8% since first listed

10 events — show timeline

• 2026-05-28 Listed $185,000 MLSNOW
• 2023-07-03 Rental Removed — YESMLS
• 2023-01-09 Pending — MLSNOW
• 2023-01-09 Sold (Public Records) $142,000 Public Records
• 2023-01-09 Sold (MLS) $142,000 MLSNOW
• 2022-12-14 Contingent — MLSNOW
• 2022-12-09 Listed $144,900 MLSNOW
• 2004-12-09 Sold (Public Records) $82,000 Public Records
• 2004-10-20 Sold (MLS) $82,000 MLSNOW
• 2004-08-12 Listed $89,900 MLSNOW

Property tax history

-0.1%/yr

Latest (2025): $3,646 · -2.0% YoY. Source: county tax records.