1267-1269 Jackson Ave · Lakewood, OH 44107

$489,500

5 bd · 3.0 ba · 2,982 sqft · MultiFamily public records · 70 Days on market

Built 1921 4,721 sqft lot $164/sqft · 13% above area Est $433k · 13% over

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Why this score? — see what drove the D 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 +15.9/30.0
• Schools +5.5/10.0
• DSCR +4.9/10.0
• 1% rule +4.5/10.0
• Livability +4.4/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0
• 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

Very well-kept triplex in the heart of Lakewood! Each unit is separately metered and has their own electrical panel which has been updated and hot water tank also updated / newer. Tenants are month-to-month. Some of the tenants have been here a very long time. .. I believe over 20 years for the first-floor tenant. We need 48 hours notice to show. There's no sign in the yard. All appointments must be approved by each individual occupant. Bonus room on the first floor! Nice backyard big garage in great shape!

Key facts

• Bonus room
• Big garage
• Triplex

Tags

• TRIPLEX
• SEPARATELY METERED
• UPDATED ELECTRICAL PANEL
• UPDATED HOT WATER TANK
• BONUS ROOM
• BIG GARAGE

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $490k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive. Per door: $77/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $467k (4.6% below list).
• Recommended offer: $460k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 2.5% in Lakewood — 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 88/100 on livability (#29 in OH, #249 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, cost of living A+; Watch: commute F.
• Lakewood City (suburban): math 60% / reading 71% proficiency, ranked #213 of 656 in OH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.4%/yr); 201 active listings in the ZIP; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $4,669/mo this rent would consume 81% of the median local household income ($69k/yr) (locally 2271% 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 $3k of loan paydown is wiped out by about $15k 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 70 days — a 6% lower offer ($460k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $460,130 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% 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 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.95% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 8.7

CMA / ARV

• ARV (median comp): $433,072
• List price: $489,500
• Delta: 13.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1306 Hathaway Ave	0.21mi	6/2.0 (+1)	2,896 (-3%)	3mo	$407,000	$141	74
13532 Elbur Ln	0.33mi	6/3.0 (+1)	3,200 (+7%)	0mo	$432,500	$135	67
1514 Cohassett Ave	0.61mi	6/2.0 (+1)	3,048 (+2%)	3mo	$420,000	$138	56
1205 Warren Rd	0.73mi	5/3.0	2,876 (-4%)	7mo	$499,000	$174	54
13456 Clifton Blvd	0.17mi	6/2.0 (+1)	2,593 (-13%)	12mo	$385,000	$148	52
1513 Cohassett Ave	0.62mi	6/3.0 (+1)	3,200 (+7%)	10mo	$353,500	$110	46
1552 Parkwood Rd	0.57mi	6/2.0 (+1)	2,736 (-8%)	12mo	$425,000	$155	41
1576 Wyandotte Ave	0.60mi	4/3.0 (-1)	2,548 (-15%)	6mo	$360,000	$141	38
1571 Cohassett Ave	0.71mi	6/3.0 (+1)	2,672 (-10%)	9mo	$422,000	$158	37
1572 Cohasset Ave	0.70mi	6/2.0 (+1)	2,812 (-6%)	17mo	$460,000	$164	34
1521 Lincoln Ave	0.68mi	6/2.0 (+1)	2,658 (-11%)	10mo	$415,000	$156	33
1234 Marlowe Ave	0.56mi	6/2.0 (+1)	2,540 (-15%)	14mo	$340,000	$134	29

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 · 5.39% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.61×
• Total profit: $-52,917
• Equity at exit: $72,986

10-year hold

• IRR: 2.1%
• Equity multiple: 1.17×
• Total profit: $22,977
• Equity at exit: $42,323

Cash invested: $137,060 (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 44107

• Rents YoY: 5.4%
• Active inventory: 201
• Price-to-rent: 26.2×

Monthly cashflow live

• Estimated rent: $4,669 high
• Mortgage (P&I): −$2,567
• Tax from tax record: −$685 /mo · $8,224/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$980
• Net cashflow: $232

Break-even live

Break-even rent $4,375

Max offer price $489,500

Occupancy floor 90%

Sensitivity live

Price	-10% $509	-5% $371	+0% $232	+5% $94	+10% $-45
Rent	-10% $-137	-5% $48	+0% $232	+5% $417	+10% $601
Rate	-1.0pp $479	-0.5pp $357	base $232	+0.5pp $105	+1.0pp $-24

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,668
Total (3 units)			$4,669

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: $122,375
• Closing costs: $14,685
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $489,500 Active 70 DOM
2. 2026-06-17
   days on market $489,500 Active 69 DOM
3. 2026-06-16
   days on market $489,500 Active 68 DOM
4. 2026-06-15
   days on market $489,500 Active 67 DOM
5. 2026-06-13
   days on market $489,500 Active 65 DOM
6. 2026-06-13
   days on market $489,500 Active 64 DOM
7. 2026-06-09
   days on market $489,500 Active 61 DOM
8. 2026-06-08
   days on market $489,500 Active 60 DOM
9. 2026-06-07
   days on market $489,500 Active 59 DOM
10. 2026-06-05
    days on market $489,500 Active 56 DOM
11. 2026-06-03
    days on market $489,500 Active 55 DOM
12. 2026-06-02
    days on market $489,500 Active 54 DOM
13. 2026-06-01
    days on market $489,500 Active 53 DOM
14. 2026-05-31
    days on market $489,500 Active 52 DOM
15. 2026-04-08
    listed $489,500 Active 512-char remark

    Show marketing remark (512 chars)

    Very well-kept triplex in the heart of Lakewood! Each unit is separately metered and has their own electrical panel which has been updated and hot water tank also updated / newer. Tenants are month-to-month. Some of the tenants have been here a very long time. .. I believe over 20 years for the first-floor tenant. We need 48 hours notice to show. There's no sign in the yard. All appointments must be approved by each individual occupant. Bonus room on the first floor! Nice backyard big garage in great shape!

ⓘ 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: $8,224 · $685/mo
• Projected year-2 tax: $8,224 · $685/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 8 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,028
• − Mortgage interest: −$27,420
• − Property taxes: −$8,224
• − Insurance: −$2,448
• − Repairs & maintenance: −$4,482
• − Management: −$4,482
• − Depreciation: −$14,240
• Taxable loss: −$5,267
• Est. tax savings @ 24.0%: +$1,264
• After-tax cash flow: $4,051/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: Lakewood City
• NCES district ID: 3904419
• Math proficiency: 60% ▼ -11.00%
• Reading proficiency: 71% ▼ -3.00%
• Median HH income: $45,181
• Composite: 55.13/100
• National rank: #1282
• State rank: #213 of 656 in OH

Livability — Lakewood

• Score: 88/100
• State rank: #29
• US rank: #249

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakewood, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 50,018
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 50,018
• Household income: $68,970
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 2271.0

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 White (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 8% Lithuanian 2% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Arabic 3% Other Indo-European 2% Spanish 2%

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: ▼ -347.35%
• Current HPI: 266.5337
• Rent YoY: ▲ 5.39%
• 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

1 event — show timeline

• 2026-04-08 Listed $489,500 MLSNOW

Property tax history

+4.5%/yr

Latest (2025): $8,224 · -0.2% YoY. Source: county tax records.