3642 Menlo Rd · Shaker Heights, OH 44120

$139,900

4 bd · 2.0 ba · 2,206 sqft · MultiFamily public records · 79 Days on market

Built 1925 1,568 sqft lot Est $179k · 22% under

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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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +8.2/10.0
• Schools +5.0/10.0
• Livability +4.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor-friendly duplex opportunity in Shaker Heights generating $920/month in rental income. This well-maintained two-family property features hardwood floors, spacious living areas, and classic character typical of the area’s 1920s homes. Each unit offers comfortable layouts with strong rental demand. The property is currently generating $920/month in rental income, with one unit leased through 10/31/2026. The second unit has recently been vacated but was previously rented for $1,195/month, providing a solid benchmark for future leasing. This vacancy creates an excellent opportunity for an investor to place a new tenant at market rent, increase overall income, or owner-occupy while offsetting expenses. Owner pays water and sewer. Additional highlights include a full basement, separate living spaces, and a detached garage, offering added storage and tenant convenience. Located just minutes from shopping, dining, and major medical and employment centers near Cleveland Clinic and University Circle, this property presents a solid opportunity for both new and seasoned investors looking to expand their portfolio with a performing asset in a desirable rental market.

Key facts

• Full basement
• Hardwood floors
• Detached garage

Tags

• HARDWOOD FLOORS
• FULL BASEMENT
• SEPARATE LIVING SPACES
• DETACHED GARAGE
• MINUTES FROM SHOPPING
• NEAR CLEVELAND CLINIC

🏷️ Possibly a rental listed for sale. The $139,900 price doesn't fit this home's estimated sale value (~$178,865) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.5% in Shaker 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 (#15 in OH, #134 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities 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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $1,849/mo this rent would consume 47% 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 $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.32% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.15%
• DSCR: 1.45
• GRM: 6.3

CMA / ARV

• ARV (median comp): $178,865
• List price: $139,900
• Delta: -21.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3653 Hildana Rd	0.21mi	4/2.0	2,110 (-4%)	1mo	$102,000	$48	82
3713 Menlo Rd	0.13mi	4/2.0	2,166 (-2%)	12mo	$65,000	$30	81
3654 Hildana Rd	0.18mi	4/2.0	2,454 (+11%)	20mo	$200,000	$81	56
3643 Lindholm Rd	0.46mi	4/3.0	2,368 (+7%)	8mo	$100,000	$42	56
3634 Hildana Rd	0.17mi	4/2.0	2,446 (+11%)	22mo	$150,000	$61	55
3318 Milverton Rd	0.63mi	4/2.0	2,386 (+8%)	3mo	$225,000	$94	54
3550 Daleford Rd	0.75mi	4/3.0	2,268 (+3%)	4mo	$342,500	$151	53
3566 Daleford Rd	0.74mi	4/2.0	2,268 (+3%)	19mo	$187,000	$82	44
3619 Strathavon Rd	0.59mi	4/3.5	2,280 (+3%)	22mo	$220,000	$96	43
3654 3654 Avalon Road Rd #2	0.67mi	5/3.0 (+1)	2,236 (+1%)	23mo	$210,000	$94	38

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-798
• Equity at exit: $20,860

10-year hold

• IRR: 9.6%
• Equity multiple: 1.76×
• Total profit: $29,627
• Equity at exit: $12,096

Cash invested: $39,172 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,849 high
• Mortgage (P&I): −$734
• Tax from tax record: −$337 /mo · $4,044/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $331

Break-even live

Break-even rent $1,429

Max offer price $139,900

Occupancy floor 77%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3710 Sudbury Rd Cleveland, OH	4.0	1.5	1665	$1,900	$1.14	43d	1	0.34mi
16015 Van Aken Blvd Cleveland, OH	2.0–4.0	2.0	1360	$1,395	$1.03	7d	4	0.47mi
3719 Rolliston Rd Cleveland, OH	3.0	2.0	1458	$1,910	$1.31	43d	1	0.54mi
16818 Kenyon Rd Unit 2 Shaker Heights, OH	4.0	1.0	1900	$1,900	$1.00	4d	1	0.55mi
3579 Riedham Rd Unit Up Shaker Heights, OH	4.0	2.0	1648	$1,600	$0.97	43d	1	0.63mi
3524 Daleford Rd Cleveland, OH	3.0	1.0	1700	$2,200	$1.29	16d	1	0.74mi
3671 Daleford Rd Unit Up Shaker Heights, OH	3.0	2.0	1536	$1,675	$1.09	17d	1	0.75mi
3671 Daleford Rd Cleveland, OH	3.0	2.0	1536	$1,675	$1.09	21d	1	0.75mi
17424 Winslow Rd Cleveland, OH	4.0	2.0	1995	$2,200	$1.10	16d	1	0.83mi
14108 Becket Rd Cleveland, OH	4.0	3.5	1660	$2,206	$1.33	43d	1	1.02mi
3636 Glencairn Rd Unit 2 Shaker Heights, OH	4.0	1.0	1612	$1,750	$1.09	23d	1	1.03mi
3634 Glencairn Rd Shaker Heights, OH	4.0	1.0	1612	$1,750	$1.09	23d	1	1.03mi
3601 Glencairn Rd Shaker Heights, OH	3.0	1.5	1890	$1,500	$0.79	43d	1	1.07mi
18314 Chagrin Blvd Unit 1 Shaker Heights, OH	3.0	2.0	1670	$1,600	$0.96	17d	1	1.10mi
3578 Latimore Rd Shaker Heights, OH	3.0	1.5	2113	$2,200	$1.04	2d	1	1.16mi
3653 Winchell Rd Unit 2 Shaker Heights, OH	5.0	3.0	1775	$2,350	$1.32	43d	1	1.26mi
3614 Lynnfield Rd Shaker Heights, OH	4.0	2.0	1584	$1,450	$0.92	16d	1	1.29mi
3665 Lynnfield Rd Unit UP Shaker Heights, OH	4.0	2.0	1600	$1,849	$1.16	43d	1	1.32mi
18801 Invermere Ave Cleveland, OH	3.0	2.5	2134	$2,200	$1.03	1d	1	1.34mi
3012 Albion Rd Cleveland, OH	3.0	1.5	1942	$1,900	$0.98	2d	1	1.35mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $139,900 Pending 79 DOM
2. 2026-06-03
   days on market $139,900 Active 77 DOM
3. 2026-06-02
   pricedays on market $139,900 Active 76 DOM
4. 2026-06-01
   days on market $150,000 Active 75 DOM
5. 2026-05-31
   days on market $150,000 Active 74 DOM
6. 2026-03-18
   listed $150,000 Active 1186-char remark

   Show marketing remark (1186 chars)

   Investor-friendly duplex opportunity in Shaker Heights generating $920/month in rental income. This well-maintained two-family property features hardwood floors, spacious living areas, and classic character typical of the area’s 1920s homes. Each unit offers comfortable layouts with strong rental demand. The property is currently generating $920/month in rental income, with one unit leased through 10/31/2026. The second unit has recently been vacated but was previously rented for $1,195/month, providing a solid benchmark for future leasing. This vacancy creates an excellent opportunity for an investor to place a new tenant at market rent, increase overall income, or owner-occupy while offsetting expenses. Owner pays water and sewer. Additional highlights include a full basement, separate living spaces, and a detached garage, offering added storage and tenant convenience. Located just minutes from shopping, dining, and major medical and employment centers near Cleveland Clinic and University Circle, this property presents a solid opportunity for both new and seasoned investors looking to expand their portfolio with a performing asset in a desirable rental market.

7. 2006-08-11
   soldstatus $173,000
8. 2006-04-27
   soldstatus $60,500
9. 1992-10-27
   soldstatus $64,000

ⓘ 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: $4,044 · $337/mo
• Projected year-2 tax: $4,044 · $337/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: $22,183
• − Mortgage interest: −$7,837
• − Property taxes: −$4,044
• − Insurance: −$700
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − Depreciation: −$4,070
• Taxable income: $1,984
• Est. tax owed @ 24.0%: −$476
• After-tax cash flow: $3,501/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 — Shaker Heights

• Score: 89/100
• State rank: #15
• US rank: #134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shaker Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 69,880
• 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

+134.4% since first listed

4 events — show timeline

• 2026-03-18 Listed $150,000 MLSNOW
• 2006-08-11 Sold (Public Records) $173,000 Public Records
• 2006-04-27 Sold (Public Records) $60,500 Public Records
• 1992-10-27 Sold (Public Records) $64,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $4,044 · +13.1% YoY. Source: county tax records.