3371 Beechwood Ave · Cleveland Heights, OH 44118

$270,000

9 bd · 2.0 ba · 3,768 sqft · MultiFamily public records · 29 Days on market

Built 1920 6,751 sqft lot Est $283k · 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 +9.5/15.0
• 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 MLS

Location is fantastic! Great income producing 3 family w/ $2500.00 a month income and can be increased. Long term tenants. NEWER WINDOWS! Balance of POS is negotiable, (only $900.00 is the required City escrow hold) Many vio's have been ongoing to completion! Tenants pay water, seller pays sewer (approximately $400 a month. )

Key facts

• New carpeting
• Recently renovated
• Updated plumbing

Tags

• RECENTLY RENOVATED
• NEW CARPETING
• UPDATED KITCHEN COUNTERTOPS
• NEWER SECTION OF THE ROOF
• BRAND-NEW HVAC SYSTEMS
• UPDATED PLUMBING

Property features AI

Finance

• Financial info: Multifamily property with 3 units; Unit 1 (4 bedrooms) rent listed at $1,400; Unit 2 (4 bedrooms) rent listed at $900; Unit 3 (1 bedroom) rent listed at $750; Units 1 and 2 indicated as leased through August 1, 2026

Exterior

• Parking: 3‑car garage; Paved parking
• Utilities: Public water; Public sewer
• Home design: 3‑story building; Above‑grade finished area approximately 3,768
• Construction: Vinyl siding; Asphalt/fiberglass roof
• Exterior features: Chain link fencing; Lot approximately 0.155 acres

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: One 1‑bedroom unit (Unit 3); Two 4‑bedroom units (Unit 1 and Unit 2)
• Bathrooms: Three full bathrooms total; Each listed unit includes 1 bathroom
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Full unfinished basement; 14 total rooms
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $540/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $270k).
• Recommended offer: $266k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.5% 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; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $4,645/mo this rent would consume 72% 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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 28y 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 $179k; list at $270k implies a 51% 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 $265,950 (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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.72% ✓
• Cap rate: 13.49%
• Cash-on-cash: 25.71%
• DSCR: 2.14
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $282,600
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3371 Beechwood Ave	0.00mi	9/3.0	3,768 (0%)	0mo	$251,000	$67	96
3234 Euclid Heights Blvd	0.27mi	8/2.0 (-1)	3,530 (-6%)	22mo	$345,000	$98	54
14622 Superior Rd	0.47mi	8/5.0 (-1)	3,920 (+4%)	2mo	$330,000	$84	53
3214 Sycamore Rd	0.32mi	8/2.5 (-1)	3,270 (-13%)	11mo	$187,500	$57	47
1724 Preyer Ave	0.64mi	10/4.0 (+1)	3,663 (-3%)	12mo	$255,000	$70	42
3270 Desota Ave	0.25mi	8/3.0 (-1)	3,286 (-13%)	23mo	$150,000	$46	39
1955 Cottage Grove Dr	0.71mi	8/4.0 (-1)	3,749 (-0%)	18mo	$350,000	$93	38
14650 Superior Rd	0.49mi	8/4.0 (-1)	3,960 (+5%)	23mo	$235,000	$59	36
1704 Preyer Ave	0.65mi	8/3.0 (-1)	3,550 (-6%)	20mo	$340,000	$96	34
3169 Redwood Rd	0.52mi	10/2.5 (+1)	3,211 (-15%)	15mo	$320,000	$100	31
3430 Washington Blvd	0.68mi	8/4.0 (-1)	4,102 (+9%)	15mo	$306,000	$75	28

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: 22.6%
• Equity multiple: 1.96×
• Total profit: $72,538
• Equity at exit: $40,258

10-year hold

• IRR: 32.4%
• Equity multiple: 4.35×
• Total profit: $252,936
• Equity at exit: $23,345

Cash invested: $75,600 (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: 14.5×

Monthly cashflow live

• Estimated rent: $4,645 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$522 /mo · $6,260/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$975
• Net cashflow: $1,620

Break-even live

Break-even rent $2,595

Max offer price $270,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,644
Total (3 units)			$4,645

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Listing history 43 events

1. 2026-04-23
   status Pending
2. 2026-04-07
   status Active
3. 2026-04-01
   status Pending
4. 2026-03-19
   listed $270,000 Active
5. 2024-03-14
   historical $900
6. 2024-01-27
   listed $900
7. 2024-01-12
   historical $900
8. 2024-01-12
   historical $900
9. 2024-01-11
   listed $900
10. 2024-01-11
    listed $900
11. 2024-01-02
    historical $900
12. 2024-01-02
    historical $900
13. 2024-01-02
    listed $900
14. 2024-01-02
    listed $950
15. 2023-10-15
    historical $1,000
16. 2023-10-14
    price $1,000
17. 2023-08-24
    listed $1,100
18. 2022-12-12
    soldstatus $179,000
19. 2022-12-09
    soldstatus $179,000 Closed 329-char remark

    Show marketing remark (329 chars)

    Location is fantastic! Great income producing 3 family w/ $2500.00 a month income and can be increased. Long term tenants. NEWER WINDOWS! Balance of POS is negotiable, (only $900.00 is the required City escrow hold) Many vio's have been ongoing to completion! Tenants pay water, seller pays sewer (approximately $400 a month. )

20. 2022-11-18
    status Pending 329-char remark

    Show marketing remark (329 chars)

    Location is fantastic! Great income producing 3 family w/ $2500.00 a month income and can be increased. Long term tenants. NEWER WINDOWS! Balance of POS is negotiable, (only $900.00 is the required City escrow hold) Many vio's have been ongoing to completion! Tenants pay water, seller pays sewer (approximately $400 a month. )

21. 2022-08-21
    listed $215,000 Active 329-char remark

    Show marketing remark (329 chars)

    Location is fantastic! Great income producing 3 family w/ $2500.00 a month income and can be increased. Long term tenants. NEWER WINDOWS! Balance of POS is negotiable, (only $900.00 is the required City escrow hold) Many vio's have been ongoing to completion! Tenants pay water, seller pays sewer (approximately $400 a month. )

22. 2019-12-09
    soldstatus $85,000 Closed 561-char remark

    Show marketing remark (561 chars)

    This enormous triplex presents an opportunity for excellent portfolio value. With the potential rent of $2,100 a month, this multi-family has great features, including vinyl siding, a detached 3 car garage, replacement vinyl windows and a newer HVAC. The 3 units are all metered separately and the property has professional management that is willing to stay on. It's central location has it within blocks of parks, schools, shopping and more. Buyer to assume minor POS violations. There's tons of value in this property, so don't miss out on all its potential!

23. 2019-12-09
    soldstatus $85,000

    Show marketing remark (561 chars)

    This enormous triplex presents an opportunity for excellent portfolio value. With the potential rent of $2,100 a month, this multi-family has great features, including vinyl siding, a detached 3 car garage, replacement vinyl windows and a newer HVAC. The 3 units are all metered separately and the property has professional management that is willing to stay on. It's central location has it within blocks of parks, schools, shopping and more. Buyer to assume minor POS violations. There's tons of value in this property, so don't miss out on all its potential!

24. 2019-11-26
    status Pending 561-char remark

    Show marketing remark (561 chars)

    This enormous triplex presents an opportunity for excellent portfolio value. With the potential rent of $2,100 a month, this multi-family has great features, including vinyl siding, a detached 3 car garage, replacement vinyl windows and a newer HVAC. The 3 units are all metered separately and the property has professional management that is willing to stay on. It's central location has it within blocks of parks, schools, shopping and more. Buyer to assume minor POS violations. There's tons of value in this property, so don't miss out on all its potential!

25. 2019-10-16
    historical Contingent 561-char remark

    Show marketing remark (561 chars)

    This enormous triplex presents an opportunity for excellent portfolio value. With the potential rent of $2,100 a month, this multi-family has great features, including vinyl siding, a detached 3 car garage, replacement vinyl windows and a newer HVAC. The 3 units are all metered separately and the property has professional management that is willing to stay on. It's central location has it within blocks of parks, schools, shopping and more. Buyer to assume minor POS violations. There's tons of value in this property, so don't miss out on all its potential!

26. 2019-10-02
    listed $94,900 Active 561-char remark

    Show marketing remark (561 chars)

    This enormous triplex presents an opportunity for excellent portfolio value. With the potential rent of $2,100 a month, this multi-family has great features, including vinyl siding, a detached 3 car garage, replacement vinyl windows and a newer HVAC. The 3 units are all metered separately and the property has professional management that is willing to stay on. It's central location has it within blocks of parks, schools, shopping and more. Buyer to assume minor POS violations. There's tons of value in this property, so don't miss out on all its potential!

27. 2017-04-28
    soldstatus $75,000 Sold
28. 2017-04-28
    soldstatus $75,000
29. 2017-04-18
    status Pending
30. 2017-03-31
    status Contingent
31. 2017-03-20
    historical
32. 2017-03-15
    listed $75,000 Active
33. 2010-06-16
    soldstatus $32,500
34. 2010-03-08
    soldstatus $30,000
35. 2009-12-28
    listed $29,900
36. 2008-12-31
    historical
37. 2007-11-26
    listed $150,000
38. 2006-02-01
    soldstatus $205,000
39. 1998-11-12
    soldstatus $70,000
40. 1998-08-29
    historical
41. 1998-05-29
    listed $99,000
42. 1978-08-01
    soldstatus $47,500
43. 1978-08-01
    soldstatus $47,500

ⓘ 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: $6,260 · $522/mo
• Projected year-2 tax: $6,260 · $522/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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,740
• − Mortgage interest: −$15,124
• − Property taxes: −$6,260
• − Insurance: −$1,350
• − Repairs & maintenance: −$4,459
• − Management: −$4,459
• − Depreciation: −$7,855
• Taxable income: $16,233
• Est. tax owed @ 24.0%: −$3,896
• After-tax cash flow: $15,538/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: 17,848
• 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

+468.4% since first listed

43 events — show timeline

• 2026-04-23 Pending — MLSNOW
• 2026-04-07 Relisted — MLSNOW
• 2026-04-01 Pending — MLSNOW
• 2026-03-19 Listed $270,000 MLSNOW
• 2024-03-14 Rental Removed $900 APPFOLIO
• 2024-01-27 Listed for Rent $900 APPFOLIO
• 2024-01-12 Rental Removed $900 APPFOLIO
• 2024-01-12 Rental Removed $900 APPFOLIO
• 2024-01-11 Listed for Rent $900 APPFOLIO
• 2024-01-11 Listed for Rent $900 APPFOLIO
• 2024-01-02 Rental Removed $900 APPFOLIO
• 2024-01-02 Rental Removed $900 APPFOLIO
• 2024-01-02 Listed for Rent $900 APPFOLIO
• 2024-01-02 Listed for Rent $950 APPFOLIO
• 2023-10-15 Rental Removed $1,000 APPFOLIO
• 2023-10-14 Price Changed $1,000 APPFOLIO
• 2023-08-24 Listed for Rent $1,100 APPFOLIO
• 2022-12-12 Sold (Public Records) $179,000 Public Records
• 2022-12-09 Sold (MLS) $179,000 MLSNOW
• 2022-11-18 Pending — MLSNOW
• 2022-08-21 Listed $215,000 MLSNOW
• 2019-12-09 Sold (Public Records) $85,000 Public Records
• 2019-12-09 Sold (MLS) $85,000 MLSNOW
• 2019-11-26 Pending — MLSNOW
• 2019-10-16 Contingent — MLSNOW
• 2019-10-02 Listed $94,900 MLSNOW
• 2017-04-28 Sold (Public Records) $75,000 Public Records
• 2017-04-28 Sold (MLS) $75,000 MLSNOW
• 2017-04-18 Pending — MLSNOW
• 2017-03-31 Relisted — MLSNOW
• 2017-03-20 Listing Removed — MLSNOW
• 2017-03-15 Listed $75,000 MLSNOW
• 2010-06-16 Sold (Public Records) $32,500 Public Records
• 2010-03-08 Sold (MLS) $30,000 MLSNOW
• 2009-12-28 Listed $29,900 MLSNOW
• 2008-12-31 Listing Removed — MLSNOW
• 2007-11-26 Listed $150,000 MLSNOW
• 2006-02-01 Sold (Public Records) $205,000 Public Records
• 1998-11-12 Sold (Public Records) $70,000 Public Records
• 1998-08-29 Listing Removed — MLSNOW
• 1998-05-29 Listed $99,000 MLSNOW
• 1978-08-01 Sold (Public Records) $47,500 Public Records
• 1978-08-01 Sold (Public Records) $47,500 Public Records

Property tax history

+5.6%/yr

Latest (2025): $6,260 · +11.3% YoY. Source: county tax records.