1505 E 196th St · Euclid, OH 44117

$105,000

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 20 Days on market

Built 1928 6,198 sqft lot

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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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1505 E 196th St in Euclid. A well-proportioned cape cod built for efficient living and straightforward ownership. This two bedroom home delivers a clean, functional layout with no wasted space. The living areas are practical, the bedrooms are appropriately sized, and the overall footprint is designed for simplicity. Easy to maintain, easy to operate. The front porch adds character and usable outdoor space, while the detached 2-car garage is a significant bonus, offering off-street parking, storage, or workspace flexibility that’s not always available at this price point. The size works in your favor: lower utility costs, minimal upkeep, and strong rental appeal. Whethe

Key facts

• Quiet street
• Front porch
• Convenient access

Tags

• FRONT PORCH
• DETACHED 2-CAR GARAGE
• OFF-STREET PARKING
• USABLE OUTDOOR SPACE
• QUIET STREET
• CONVENIENT ACCESS

Property features AI

Exterior

• Parking: Detached 2-car garage; Driveway and on-street parking available
• Utilities: Public water; Public sewer
• Home design: Two-story home
• Construction: Built per public records; Brick, block and wood siding construction; Asphalt roof
• Exterior features: Property is attached; Faces west

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Full finished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 6.8% in Euclid — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#204 in OH, #3,149 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools C-, commute F, employment D-.
• Euclid City (suburban): math 14% / reading 28% proficiency, ranked #625 of 656 in OH (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 33 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 34% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 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

• It's been on market 20 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y 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 $32k; list at $105k implies a 228% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.3%
• Equity multiple: 0.87×
• Total profit: $-3,698
• Equity at exit: $15,656

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $14,024
• Equity at exit: $9,078

Cash invested: $29,400 (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 44117

• Home prices YoY: -9.8%
• Active inventory: 33
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,217 high
• Mortgage (P&I): −$551
• Tax from tax record: −$158 /mo · $1,900/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $209

Break-even live

Break-even rent $953

Max offer price $105,000

Occupancy floor 78%

Sensitivity live

Price	-10% $268	-5% $238	+0% $209	+5% $179	+10% $149
Rent	-10% $112	-5% $160	+0% $209	+5% $257	+10% $305
Rate	-1.0pp $261	-0.5pp $235	base $209	+0.5pp $181	+1.0pp $154

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19750 Euclid Ave Euclid, OH	1.0–3.0	1.0–1.5	840	$1,172	$1.40	17d	3	0.21mi
1541 E 191st St Euclid, OH	2.0	1.0–1.5	624	$925	$1.48	44d	1	0.28mi
20051 Green Oak Dr Euclid, OH	3.0	1.5	1092	$1,550	$1.42	15d	1	0.46mi
18231 Euclid Ave Cleveland, OH	1.0–2.0	1.0	767	$1,818	$2.37	2d	1	0.56mi
21253 Chardon Rd Unit 203 Euclid, OH	1.0	1.0	800	$995	$1.24	24d	1	0.75mi
22140 Euclid Ave Euclid, OH	1.0	1.0	675	$929	$1.38	44d	3	1.06mi
22250 Euclid Ave Euclid, OH	1.0	1.0	695	$995	$1.43	24d	2	1.13mi
22550 Euclid Ave Unit 207 Euclid, OH	2.0	1.0	888	$1,279	$1.44	44d	1	1.25mi
22550 Euclid Ave Unit 212 Euclid, OH	1.0	1.0	548	$1,000	$1.82	44d	1	1.25mi
4 Gateway Dr Euclid, OH	2.0	1.0–2.0	650	$1,150	$1.77	8d	5	1.48mi

Listing history 25 events

1. 2026-06-18
   days on market $105,000 Active 20 DOM
2. 2026-06-17
   days on market $105,000 Active 19 DOM
3. 2026-06-16
   days on market $105,000 Active 18 DOM
4. 2026-06-15
   days on market $105,000 Active 17 DOM
5. 2026-06-13
   days on market $105,000 Active 15 DOM
6. 2026-06-09
   days on market $105,000 Active 11 DOM
7. 2026-06-08
   days on market $105,000 Active 10 DOM
8. 2026-06-07
   days on market $105,000 Active 9 DOM
9. 2026-06-05
   days on market $105,000 Active 6 DOM
10. 2026-06-03
    days on market $105,000 Active 5 DOM
11. 2026-06-02
    days on market $105,000 Active 4 DOM
12. 2026-06-01
    days on market $105,000 Active 3 DOM
13. 2026-05-31
    days on market $105,000 Active 2 DOM
14. 2026-05-29
    listed $105,000 Active
15. 2026-04-13
    historical
16. 2026-04-06
    listed $105,000 Active
17. 2013-12-30
    historical
18. 2012-12-18
    listed $45,900
19. 2012-06-30
    historical
20. 2010-10-22
    listed $35,900
21. 2010-09-15
    historical
22. 2010-03-18
    listed $68,721
23. 2010-01-18
    historical
24. 2009-07-18
    listed $69,921
25. 1987-01-16
    soldstatus $32,000

ⓘ 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: $1,900 · $158/mo
• Projected year-2 tax: $1,900 · $158/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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,602
• − Mortgage interest: −$5,882
• − Property taxes: −$1,900
• − Insurance: −$525
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$3,055
• Taxable income: $904
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $2,285/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: Euclid City
• NCES district ID: 3904395
• Math proficiency: 14% ▼ -19.00%
• Reading proficiency: 28% ▼ -14.00%
• Median HH income: $36,385
• Composite: 17.39/100
• National rank: #9067
• State rank: #625 of 656 in OH

Livability — Euclid

• Score: 77/100
• State rank: #204
• US rank: #3149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Euclid, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 41,855
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 9,172
• Household income: $43,013
• Rent vs Own: 53.7% rent · 46.3% own
• Severe rent burden: 970.0

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 (71%)
• Race & ethnicity: Black 71% White 22% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Romanian 1% Serbian 1%
• Foreign-born: 2%
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% Tagalog/Filipino 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: ▼ -23.42%
• Current HPI: 214.6784
• Rent YoY: —
• 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

+228.1% since first listed

12 events — show timeline

• 2026-05-29 Listed $105,000 MLSNOW
• 2026-04-13 Listing Removed — MLSNOW
• 2026-04-06 Listed $105,000 MLSNOW
• 2013-12-30 Listing Removed — MLSNOW
• 2012-12-18 Listed $45,900 MLSNOW
• 2012-06-30 Listing Removed — MLSNOW
• 2010-10-22 Listed $35,900 MLSNOW
• 2010-09-15 Listing Removed — MLSNOW
• 2010-03-18 Listed $68,721 MLSNOW
• 2010-01-18 Listing Removed — MLSNOW
• 2009-07-18 Listed $69,921 MLSNOW
• 1987-01-16 Sold (Public Records) $32,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $1,900 · -3.1% YoY. Source: county tax records.