2320 Bellfield Ave · Cleveland Heights, OH 44106

$299,000

5 bd · 3.0 ba · 2,358 sqft · MultiFamily public records · 31 Days on market

Built 1895 8,319 sqft lot Est $255k · 17% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +4.5/5.0
• Rent growth +3.6/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Prime Cedar Hill Multi-Family! Features 2-Suites: Combined 2nd/3rd Floor with 3 Bedroom & 2 Baths: 2 Bedrooms, Updated Kitchen & Bath, Living & Dining Room, Hardwood Floors on 2nd Floor Plus Separate Staircase To Vaulted & Sun-Lit 3rd Floor with Bedroom, Bonus Room & Full Bath. 1st Floor 2 Bedrooms & Full Bath. Hardwood Floors. Exterior is Vinyl Sided for Low Maintenance. Newer 4-Car Garage Plus Plenty of Surface Parking. Truly Walkable Location to Cedar Fairmount, Case & University Hospitals.

Key facts

• Private staircase
• Updated kitchen
• Near cedar fairmount

Tags

• CEDAR HILL MULTI-FAMILY
• HIGHLY WALKABLE LOCATION
• NEAR CEDAR FAIRMOUNT
• NEAR UNIVERSITY HOSPITALS
• UPDATED KITCHEN
• PRIVATE STAIRCASE

Property features AI

Finance

• Other: Property contains one building; Below-grade finished area approximately 1,068 (source: assessor); Above-grade finished area approximately 2,358 (source: public records); Three full bathrooms total (property)
• Financial info: Owner pays water and sewer for rentals

Exterior

• Parking: Detached garage; Unpaved parking; 4 garage spaces
• Utilities: Public water; Public sewer
• Home design: Vinyl siding exterior; Asphalt roof
• Construction: Vinyl siding construction; Asphalt roof
• Exterior features: Public lot (assessor-reported lot size ~0.191 acres); Below-grade finished area present

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: Two-bedroom unit (leased); Three-bedroom unit (leased)
• Bathrooms: Three full bathrooms total (property); Two-bedroom unit has 1 bathroom; Three-bedroom unit has 2 bathrooms
• Heating & cooling: Forced air heating; Gas heating; Hot water heating; Steam heating
• Interior features: Unfinished basement; Basement present
• Laundry & utility: Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 4.3% 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 (+4.2%/yr); 34 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $4,324/mo this rent would consume 120% of the median local household income ($43k/yr) (locally 2268% 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 $9k 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 + 4.2% rent growth), your $84k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 2 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 $235k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.45% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.36%
• DSCR: 1.73
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $254,664
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2320 Bellfield Ave	0.00mi	5/3.0	2,358 (0%)	1mo	$255,000	$108	99
2290-2292 S Overlook Rd	0.15mi	5/3.5	2,356 (-0%)	9mo	$325,000	$138	83
2549 Kendall Rd	0.50mi	4/2.0 (-1)	2,335 (-1%)	7mo	$169,900	$73	61
2564 Cheshire Rd	0.54mi	6/2.0 (+1)	2,524 (+7%)	18mo	$181,000	$72	40

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 · 4.22% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.36×
• Total profit: $29,808
• Equity at exit: $44,582

10-year hold

• IRR: 19.2%
• Equity multiple: 2.71×
• Total profit: $142,945
• Equity at exit: $25,852

Cash invested: $83,720 (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 44106

• Rents YoY: 4.2%
• Active inventory: 34
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $4,324 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$582 /mo · $6,984/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$908
• Net cashflow: $1,141

Break-even live

Break-even rent $2,879

Max offer price $299,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,311	-5% $1,226	+0% $1,141	+5% $1,057	+10% $972
Rent	-10% $800	-5% $971	+0% $1,141	+5% $1,312	+10% $1,483
Rate	-1.0pp $1,292	-0.5pp $1,217	base $1,141	+0.5pp $1,064	+1.0pp $985

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,275
▸ 2× units	3	2	$3,048
Total (3 units)			$4,324

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2280 Grandview Ave Cleveland, OH	5.0	1.5	2500	$2,000	$0.80	9d	1	0.12mi
2226 Bellfield Ave Cleveland, OH	6.0	2.5	1940	$650	$0.34	16d	1	0.20mi
2460 Euclid Heights Blvd Cleveland, OH	5.0	2.0	2216	$600	$0.27	17d	1	0.52mi
2501 Euclid Heights Blvd Cleveland, OH	6.0	5.0	3000	$3,600	$1.20	17d	1	0.63mi
12908 Cedar Rd Cleveland, OH	5.0	1.5	1650	$2,600	$1.58	21d	1	1.07mi
13108 Cedar Rd Cleveland, OH	4.0	2.0	2116	$1,500	$0.71	25d	1	1.43mi
13108 Cedar Rd Unit 13108 Cleveland Heights, OH	4.0	2.0	2116	$1,450	$0.69	25d	1	1.43mi

Listing history 12 events

1. 2026-05-17
   status Pending
2. 2026-05-04
   price $299,000
3. 2026-04-16
   listed $305,000 Active
4. 2021-05-24
   soldstatus $235,000
5. 2021-05-20
   soldstatus $235,000 Closed 541-char remark

   Show marketing remark (541 chars)

   Prime Cedar Hill Multi-Family! Features 2-Suites: Combined 2nd/3rd Floor with 3 Bedroom & 2 Baths: 2 Bedrooms, Updated Kitchen & Bath, Living & Dining Room, Hardwood Floors on 2nd Floor Plus Separate Staircase To Vaulted & Sun-Lit 3rd Floor with Bedroom, Bonus Room & Full Bath. 1st Floor 2 Bedrooms & Full Bath. Hardwood Floors. Exterior is Vinyl Sided for Low Maintenance. Newer 4-Car Garage Plus Plenty of Surface Parking. Truly Walkable Location to Cedar Fairmount, Case & University Hospitals.

6. 2021-04-14
   status Pending 541-char remark

   Show marketing remark (541 chars)

   Prime Cedar Hill Multi-Family! Features 2-Suites: Combined 2nd/3rd Floor with 3 Bedroom & 2 Baths: 2 Bedrooms, Updated Kitchen & Bath, Living & Dining Room, Hardwood Floors on 2nd Floor Plus Separate Staircase To Vaulted & Sun-Lit 3rd Floor with Bedroom, Bonus Room & Full Bath. 1st Floor 2 Bedrooms & Full Bath. Hardwood Floors. Exterior is Vinyl Sided for Low Maintenance. Newer 4-Car Garage Plus Plenty of Surface Parking. Truly Walkable Location to Cedar Fairmount, Case & University Hospitals.

7. 2021-03-29
   historical Contingent 541-char remark

   Show marketing remark (541 chars)

   Prime Cedar Hill Multi-Family! Features 2-Suites: Combined 2nd/3rd Floor with 3 Bedroom & 2 Baths: 2 Bedrooms, Updated Kitchen & Bath, Living & Dining Room, Hardwood Floors on 2nd Floor Plus Separate Staircase To Vaulted & Sun-Lit 3rd Floor with Bedroom, Bonus Room & Full Bath. 1st Floor 2 Bedrooms & Full Bath. Hardwood Floors. Exterior is Vinyl Sided for Low Maintenance. Newer 4-Car Garage Plus Plenty of Surface Parking. Truly Walkable Location to Cedar Fairmount, Case & University Hospitals.

8. 2021-03-15
   listed $279,000 Active 541-char remark

   Show marketing remark (541 chars)

   Prime Cedar Hill Multi-Family! Features 2-Suites: Combined 2nd/3rd Floor with 3 Bedroom & 2 Baths: 2 Bedrooms, Updated Kitchen & Bath, Living & Dining Room, Hardwood Floors on 2nd Floor Plus Separate Staircase To Vaulted & Sun-Lit 3rd Floor with Bedroom, Bonus Room & Full Bath. 1st Floor 2 Bedrooms & Full Bath. Hardwood Floors. Exterior is Vinyl Sided for Low Maintenance. Newer 4-Car Garage Plus Plenty of Surface Parking. Truly Walkable Location to Cedar Fairmount, Case & University Hospitals.

9. 1998-05-29
   soldstatus $140,600
10. 1993-04-19
    soldstatus $107,000
11. 1986-09-29
    soldstatus $75,000
12. 1984-08-17
    soldstatus $74,000

ⓘ 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: $6,984 · $582/mo
• Projected year-2 tax: $6,984 · $582/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 6 d/yr ≥95°F today · 15 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: $51,888
• − Mortgage interest: −$16,749
• − Property taxes: −$6,984
• − Insurance: −$1,495
• − Repairs & maintenance: −$4,151
• − Management: −$4,151
• − Depreciation: −$8,698
• Taxable income: $9,660
• Est. tax owed @ 24.0%: −$2,318
• After-tax cash flow: $11,378/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): 25,120
• Household income: $43,170
• Rent vs Own: 76.3% rent · 23.7% own
• Severe rent burden: 2268.0

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 0.67)
• Race & ethnicity: Black 41% White 39% Asian 11% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Lithuanian 1% Italian 1%
• Foreign-born: 13% · China, Canada, South Korea
• Languages at home: 82% English-only · Spanish 3% Other Indo-European 3% Chinese 3%

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: ▼ -133.63%
• Current HPI: 117.6949
• Rent YoY: ▲ 4.22%
• 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

+304.1% since first listed

12 events — show timeline

• 2026-05-17 Pending — MLSNOW
• 2026-05-04 Price Changed $299,000 MLSNOW
• 2026-04-16 Listed $305,000 MLSNOW
• 2021-05-24 Sold (Public Records) $235,000 Public Records
• 2021-05-20 Sold (MLS) $235,000 MLSNOW
• 2021-04-14 Pending — MLSNOW
• 2021-03-29 Contingent — MLSNOW
• 2021-03-15 Listed $279,000 MLSNOW
• 1998-05-29 Sold (Public Records) $140,600 Public Records
• 1993-04-19 Sold (Public Records) $107,000 Public Records
• 1986-09-29 Sold (Public Records) $75,000 Public Records
• 1984-08-17 Sold (Public Records) $74,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $6,984 · -2.0% YoY. Source: county tax records.