12029 Clifton Blvd #505 · Lakewood, OH 44107

$89,000

2 bd · 1.5 ba · 836 sqft · Condo public records · 12 Days on market

Built 1965 $106/sqft · 14% below area Est $103k · 14% under $675/mo HOA · 51% of rent

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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).

• ARV discount +13.6/15.0
• 1% rule +9.9/10.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• Rent growth +3.8/5.0
• Cash flow +3.3/30.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy city living and suburban services while owning your first home or downsizing while never having to shovel snow or cut grass again. Regain your free time in this secure, well-managed, pet-friendly (no pet fee!) building. Spend your free time at everything this vibrant neighborhood has to offer -- a half-dozen grocery stores, two 24-hour drug stores, 24-hour bus service, dozens of restaurants, bars, banks, barbers/salons, schools, clinics, Clifton Prado Pocket Park, Cove Park, Cove Community Center, Lakewood Park, Madison Park and Edgewater Park, plus Target and Home Depot. From your home's balcony and brand-new, sound-insulated windows, you'll enjoy great sun and moon rises over downto

Key facts

• Central hvac
• Rooftop indoor swim
• Heated garage

Tags

• VIEW OF LAKE ERIE
• CENTRAL HVAC
• RESERVED PARKING SPACE
• HEATED GARAGE
• FENCED IN GARDEN
• ROOFTOP INDOOR SWIM

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Monthly association fee (includes management, insurance, grounds and structure maintenance, parking, recreation facilities, reserve fund, sewer, snow removal, trash, and water)

Exterior

• Parking: Garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Brick construction; 5-story building; Entry on level 5
• Construction: Built per public records; Asphalt/fiberglass roof
• Exterior features: Patio; Private pool; City lot

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Elevator access; On-site storage
• Laundry & utility: Laundry in a common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $-276 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $40k (54.8% below list).
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $40k (54.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 88/100 on livability (#29 in OH, #249 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing 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.
• Zoned schools: Emerson Elementary School (math 67% / reading 62%, grade B, #522 of 1,584 statewide, top 36%, 335 students, 38% FRL); Garfield Middle School (math 55% / reading 62%, grade B, #287 of 654 statewide, top 45%, 454 students, 45% FRL); Lakewood High School (math 32% / reading 64%, grade D, #429 of 781 statewide, top 55%, 1,382 students, 30% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 204 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $615 of loan paydown is wiped out by about $3k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 31y 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 $46k; list at $89k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 51% of rent.

Recommended offer $40,202 (54.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
8. 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.
9. 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.
10. 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: 1.49% ✓
• Cap rate: 2.57%
• Cash-on-cash: -13.30%
• DSCR: 0.41
• GRM: 5.6

CMA / ARV

• ARV (median comp): $102,951
• List price: $89,000
• Delta: -12.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.39% rent growth · sell at horizon

5-year hold

• IRR: -33.2%
• Equity multiple: -0.14×
• Total profit: $-28,290
• Equity at exit: $13,270

10-year hold

• IRR: -18.5%
• Equity multiple: -0.26×
• Total profit: $-31,349
• Equity at exit: $7,695

Cash invested: $24,920 (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: 204
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,328 high
• Mortgage (P&I): −$467
• Tax from tax record: −$146 /mo · $1,755/yr
• Insurance: −$37
• HOA: −$675
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-276

Break-even live

Break-even rent $1,677

Max offer price $40,202

Occupancy floor —

Sensitivity live

Price	-10% $-226	-5% $-251	+0% $-276	+5% $-301	+10% $-327
Rent	-10% $-381	-5% $-329	+0% $-276	+5% $-224	+10% $-171
Rate	-1.0pp $-231	-0.5pp $-254	base $-276	+0.5pp $-299	+1.0pp $-323

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12009 Clifton Blvd Unit 9 Lakewood, OH	2.0	1.0	1100	$1,400	$1.27	16d	1	0.05mi
12231 Clifton Blvd Apt 21 Lakewood, OH	1.0	1.0	579	$1,050	$1.81	25d	1	0.08mi
12231 Clifton Blvd Lakewood, OH	1.0	1.0	579	$1,050	$1.81	18d	1	0.08mi
1281 Clifton Prado Unit Up Lakewood, OH	2.0	1.0	900	$1,100	$1.22	25d	1	0.09mi
12511 Clifton Blvd Lakewood, OH	1.0	1.0	598	$1,050	$1.75	23d	3	0.11mi
12228 Clifton Blvd Lakewood, OH	1.0	1.0	650	$965	$1.48	5d	1	0.11mi
1314 Cove Ave Lakewood, OH	3.0	2.0	1044	$1,950	$1.87	46d	1	0.12mi
12002 Lake Ave Lakewood, OH	1.0	1.0	825	$1,165	$1.41	5d	3	0.17mi
12030 Lake Ave Lakewood, OH	2.0	1.0–2.0	1050	$1,855	$1.77	18d	1	0.17mi
12050 Lake Ave Lakewood, OH	2.0	1.0	850	$1,125	$1.32	16d	1	0.19mi
12021 Edgewater Dr Lakewood, OH	1.0–2.0	1.0	1020	$1,400	$1.37	12d	2	0.21mi
12530 Lake Ave Lakewood, OH	1.0–2.0	1.0	790	$1,375	$1.74	18d	2	0.24mi
12065 Edgewater Dr Apt 23 Lakewood, OH	1.0	1.0	800	$1,350	$1.69	46d	1	0.24mi
12065 Edgewater Dr Unit 5 Lakewood, OH	1.0	1.0	800	$1,400	$1.75	46d	1	0.24mi
11850 Edgewater Dr Lakewood, OH	1.0–2.0	1.0	784	$1,950	$2.49	9d	3	0.25mi
11900 Edgewater Dr Lakewood, OH	1.0	1.0	750	$1,492	$1.99	46d	1	0.28mi
12405 Detroit Ave Lakewood, OH	1.0–2.0	1.0	925	$1,285	$1.39	0d	5	0.28mi
11800 Edgewater Dr Lakewood, OH	3.0	1.0–2.0	1064	$1,786	$1.68	0d	8	0.29mi
12810 Detroit Ave Unit 10 Lakewood, OH	1.0	1.0	600	$1,100	$1.83	46d	1	0.31mi
1235 Donald Ave Lakewood, OH	2.0	1.0	950	$1,350	$1.42	18d	1	0.33mi
12540 Edgewater Dr Lakewood, OH	2.0	1.0–2.0	929	$1,875	$2.02	0d	9	0.34mi
11821 Detroit Ave Lakewood, OH	1.0	1.0	600	$1,050	$1.75	14d	2	0.34mi
12943 Clifton Blvd Lakewood, OH	2.0	1.0	944	$1,300	$1.38	12d	2	0.37mi
1446 Coutant Ave Lakewood, OH	1.0–2.0	1.0	590	$1,050	$1.78	0d	4	0.40mi
1510 Newman Ave Lakewood, OH	1.0–2.0	1.0	660	$1,295	$1.96	18d	1	0.53mi
1548 Alameda Ave Lakewood, OH	1.0	1.0	650	$825	$1.27	9d	1	0.58mi
1545 Coutant Ave Lakewood, OH	2.0	1.0	856	$1,450	$1.69	0d	1	0.60mi
1622 Ridgewood Ave Lakewood, OH	2.0	1.0	700	$1,050	$1.50	46d	1	0.70mi
13513 Clifton Blvd Unit 3 Lakewood, OH	1.0	1.0	1000	$1,240	$1.24	46d	1	0.70mi
1615 Newman Ave Lakewood, OH	1.0	1.0	550	$985	$1.79	9d	2	0.70mi
1639 Alameda Ave Lakewood, OH	1.0	1.0	900	$2,000	$2.22	18d	1	0.74mi
1647 Waterbury Rd Unit Up Lakewood, OH	2.0	1.0	900	$1,100	$1.22	46d	1	0.82mi
1647 Waterbury Rd Unit Down Lakewood, OH	2.0	1.0	900	$1,300	$1.44	46d	1	0.82mi
1646 Waterbury Rd Lakewood, OH	2.0	1.0	1068	$1,600	$1.50	18d	1	0.84mi
1648 Waterbury Rd Lakewood, OH	2.0	1.0	1056	$1,600	$1.52	46d	1	0.85mi
2040 Robin St Lakewood, OH	1.0	1.0	800	$950	$1.19	14d	1	0.86mi
13389 Madison Ave Unit 12 Lakewood, OH	1.0	1.0	600	$825	$1.38	46d	1	0.96mi
13389 Madison Ave Unit 10 Lakewood, OH	1.0	1.0	600	$825	$1.38	0d	1	0.96mi
1385 Manor Park Ave Lakewood, OH	1.0	1.0	750	$1,100	$1.47	12d	1	0.97mi
2035 Chesterland Ave Unit down Lakewood, OH	2.0	1.0	850	$1,195	$1.41	14d	1	0.98mi

HOA detail condo

• Monthly dues: $675 · $8,100/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-08
   statusdays on market $89,000 Pending 12 DOM
2. 2026-06-07
   days on market $89,000 Active 11 DOM
3. 2026-06-05
   days on market $89,000 Active 8 DOM
4. 2026-06-03
   days on market $89,000 Active 7 DOM
5. 2026-06-02
   days on market $89,000 Active 6 DOM
6. 2026-06-01
   days on market $89,000 Active 5 DOM
7. 2026-05-31
   days on market $89,000 Active 4 DOM
8. 2026-04-19
   price $89,900 1596-char remark
9. 2026-04-04
   price $99,900 1596-char remark
10. 2026-03-23
    listed $110,000 Active 1596-char remark
11. 1996-11-07
    soldstatus $45,500
12. 1996-03-26
    soldstatus $35,000
13. 1996-01-31
    soldstatus $35,000
14. 1995-12-02
    listed $37,000

ⓘ 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: $1,755 · $146/mo
• Projected year-2 tax: $1,755 · $146/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,932
• − Mortgage interest: −$4,985
• − Property taxes: −$1,755
• − Insurance: −$445
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − HOA: −$8,100
• − Depreciation: −$2,589
• Taxable loss: −$4,492
• Est. tax savings @ 24.0%: +$1,078
• After-tax cash flow: $-2,237/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

+140.5% since first listed

10 events — show timeline

• 2026-06-08 Pending — MLSNOW
• 2026-05-27 Listed $89,000 MLSNOW
• 2026-05-26 Listing Removed — MLSNOW
• 2026-04-19 Price Changed $89,900 MLSNOW
• 2026-04-04 Price Changed $99,900 MLSNOW
• 2026-03-23 Listed $110,000 MLSNOW
• 1996-11-07 Sold (Public Records) $45,500 Public Records
• 1996-03-26 Sold (Public Records) $35,000 Public Records
• 1996-01-31 Sold (MLS) $35,000 MLSNOW
• 1995-12-02 Listed $37,000 MLSNOW

Property tax history

+0.2%/yr

Latest (2025): $1,755 · -0.2% YoY. Source: county tax records.