1600 Eddington Rd · East Cleveland, OH 44118

$199,900

4 bd · 2.0 ba · 2,740 sqft · MultiFamily public records · 70 Days on market

Built 1923 5,314 sqft lot $73/sqft · 12% above area Est $179k · 12% 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 +9.2/10.0
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Schools +0.7/10.0
• 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

Step into a Prime Investment opportunity, with a significant positive ROI cash flow. This property has been enhanced with brand-new insulated vinyl windows, fresh exterior siding and updated gutters ensuring lasting curb appeal and years of low to no maintenance functionality. Inside both spacious units are occupied by long term approved CMHA tenants generating a reliable $3250.00 in monthly rents. Third bedroom in each unit is tandem. Major systems have been thoughtfully modernized-- electrical, plumbing updates throughout providing another level of low maintenance investment. The third floor offers a blank canvas and with some vision and updates could dramatically increase the rentability and profit margin for any investor. The home provides newer furnaces, hot water tanks as well as updated electrical panels, GFCI's and all the modern conveniences approved by CMHA. The property has been thru the Lead Safe compliance process and has certification. Property can be POS compliant at time of transfer. Don't miss this easy investment opportunity, the work has been done, long term approved tenants are in place, just take over and start adding to your investment portfolio !! The home is located near the vibrant Coventry Historic district in Cleveland Heights, close to University Circle and world class health care at the Cleveland Clinic. The redevelopment and of this area is evident on every corner, this is an amazing opportunity to get in early on the transformation of this district. Leases and all information provided upon request, showings scheduled with acceptable offer and financing documentation in place.

Key facts

• Plumbing updates
• Newer furnaces
• Updated gutters

Tags

• INSULATED VINYL WINDOWS
• FRESH EXTERIOR SIDING
• UPDATED GUTTERS
• MODERNIZED ELECTRICAL
• PLUMBING UPDATES
• NEWER FURNACES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 17.4% in East Cleveland — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 66/100 on livability (#650 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools F, crime F, employment F.
• East Cleveland City School District (suburban): math 4% / reading 17% proficiency, ranked #652 of 656 in OH (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.7%/yr); 253 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent runs 44% of the median local income ($78k/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 $1k of loan paydown is wiped out by about $6k 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 + 5.7% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y ago; this cycle's ask has dropped $35k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $200k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,906 (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. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.42% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.55%
• DSCR: 1.96
• GRM: 5.9

CMA / ARV

• ARV (median comp): $179,015
• List price: $199,900
• Delta: 11.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1617 Hillcrest Rd	0.09mi	4/2.0	2,766 (+1%)	14mo	$140,000	$51	82
1643 Hillcrest Rd	0.12mi	5/3.0 (+1)	2,729 (-0%)	21mo	$160,000	$59	67
1612 Hillcrest Rd	0.06mi	4/2.0	3,078 (+12%)	20mo	$176,000	$57	60
1682 Eddington Rd	0.15mi	5/3.0 (+1)	3,046 (+11%)	12mo	$286,525	$94	55
2627 Hampshire Rd	0.69mi	5/3.0 (+1)	2,684 (-2%)	1mo	$289,000	$108	54
2631 Hampshire Rd	0.68mi	5/3.0 (+1)	2,680 (-2%)	1mo	$269,000	$100	54
1676 Coventry Rd	0.24mi	5/2.0 (+1)	3,063 (+12%)	19mo	$234,591	$77	49
2614 Hampshire Rd	0.72mi	5/2.0 (+1)	2,367 (-14%)	2mo	$315,000	$133	37

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 · 5.7% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 1.71×
• Total profit: $39,494
• Equity at exit: $29,806

10-year hold

• IRR: 27.2%
• Equity multiple: 3.70×
• Total profit: $150,944
• Equity at exit: $17,284

Cash invested: $55,972 (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 44118

• Rents YoY: 5.7%
• Active inventory: 253
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,835 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$103 /mo · $1,234/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $1,005

Break-even live

Break-even rent $1,563

Max offer price $199,900

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,836
Total (2 units)			$2,835

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1641 Coventry Rd Cleveland, OH	3.0	1.0	1848	$1,200	$0.65	16d	1	0.19mi
1796 Cumberland Rd Cleveland Heights, OH	4.0	2.5	2100	$1,800	$0.86	17d	1	0.61mi
2580 Overlook Rd Cleveland, OH	3.0	1.0–2.0	1125	$1,740	$1.55	1d	12	0.83mi
3355 Desota Ave Cleveland, OH	5.0	2.0	2540	$2,031	$0.80	7d	1	0.96mi
13108 Cedar Rd Cleveland, OH	4.0	2.0	2116	$1,500	$0.71	23d	1	1.13mi
13108 Cedar Rd Unit 13108 Cleveland Heights, OH	4.0	2.0	2116	$1,450	$0.69	23d	1	1.14mi
12314 Mayfield Rd Cleveland, OH	3.0	2.5	2033	$3,859	$1.90	3d	9	1.15mi
15801 Hazel Rd Cleveland, OH	3.0	1.5	1908	$1,550	$0.81	16d	1	1.16mi
2460 Euclid Heights Blvd Cleveland, OH	5.0	2.0	2216	$600	$0.27	16d	1	1.18mi
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	43d	1	1.44mi
910 Dresden Rd Cleveland, OH	4.0	2.0	1839	$1,800	$0.98	16d	1	1.46mi

Listing history 33 events

1. 2026-06-18
   days on market $199,900 Active 70 DOM
2. 2026-06-17
   days on market $199,900 Active 69 DOM
3. 2026-06-16
   days on market $199,900 Active 68 DOM
4. 2026-06-15
   days on market $199,900 Active 67 DOM
5. 2026-06-13
   days on market $199,900 Active 65 DOM
6. 2026-06-13
   days on market $199,900 Active 64 DOM
7. 2026-06-09
   days on market $199,900 Active 61 DOM
8. 2026-06-08
   days on market $199,900 Active 60 DOM
9. 2026-06-07
   days on market $199,900 Active 59 DOM
10. 2026-06-05
    days on market $199,900 Active 56 DOM
11. 2026-06-03
    days on market $199,900 Active 55 DOM
12. 2026-06-02
    days on market $199,900 Active 54 DOM
13. 2026-06-01
    days on market $199,900 Active 53 DOM
14. 2026-05-31
    days on market $199,900 Active 52 DOM
15. 2026-05-18
    price $199,900 1634-char remark

    Show marketing remark (1634 chars)

    Step into a Prime Investment opportunity, with a significant positive ROI cash flow. This property has been enhanced with brand-new insulated vinyl windows, fresh exterior siding and updated gutters ensuring lasting curb appeal and years of low to no maintenance functionality. Inside both spacious units are occupied by long term approved CMHA tenants generating a reliable $3250.00 in monthly rents. Third bedroom in each unit is tandem. Major systems have been thoughtfully modernized-- electrical, plumbing updates throughout providing another level of low maintenance investment. The third floor offers a blank canvas and with some vision and updates could dramatically increase the rentability and profit margin for any investor. The home provides newer furnaces, hot water tanks as well as updated electrical panels, GFCI's and all the modern conveniences approved by CMHA. The property has been thru the Lead Safe compliance process and has certification. Property can be POS compliant at time of transfer. Don't miss this easy investment opportunity, the work has been done, long term approved tenants are in place, just take over and start adding to your investment portfolio !! The home is located near the vibrant Coventry Historic district in Cleveland Heights, close to University Circle and world class health care at the Cleveland Clinic. The redevelopment and of this area is evident on every corner, this is an amazing opportunity to get in early on the transformation of this district. Leases and all information provided upon request, showings scheduled with acceptable offer and financing documentation in place.

16. 2026-04-09
    listed $235,000 Active 1634-char remark

    Show marketing remark (1634 chars)

    Step into a Prime Investment opportunity, with a significant positive ROI cash flow. This property has been enhanced with brand-new insulated vinyl windows, fresh exterior siding and updated gutters ensuring lasting curb appeal and years of low to no maintenance functionality. Inside both spacious units are occupied by long term approved CMHA tenants generating a reliable $3250.00 in monthly rents. Third bedroom in each unit is tandem. Major systems have been thoughtfully modernized-- electrical, plumbing updates throughout providing another level of low maintenance investment. The third floor offers a blank canvas and with some vision and updates could dramatically increase the rentability and profit margin for any investor. The home provides newer furnaces, hot water tanks as well as updated electrical panels, GFCI's and all the modern conveniences approved by CMHA. The property has been thru the Lead Safe compliance process and has certification. Property can be POS compliant at time of transfer. Don't miss this easy investment opportunity, the work has been done, long term approved tenants are in place, just take over and start adding to your investment portfolio !! The home is located near the vibrant Coventry Historic district in Cleveland Heights, close to University Circle and world class health care at the Cleveland Clinic. The redevelopment and of this area is evident on every corner, this is an amazing opportunity to get in early on the transformation of this district. Leases and all information provided upon request, showings scheduled with acceptable offer and financing documentation in place.

17. 2025-07-30
    soldstatus $115,000 Closed 695-char remark

    Show marketing remark (695 chars)

    The home includes a 2-car garage and boasts a low-maintenance exterior, making it an excellent choice for both owner-occupants and investors seeking long-term value. The property needs work but has strong rental potential making it ideal for investors seeking cash flow. This is an estate, the seller will make no repairs. The buyer must assume all City of East Cleveland Point-of-Sale (POS) violations and repairs. Buyer must sign East Cleveland Buyers Affidavit. POS has been initiated by the seller and is in process. Occupancy Permit Instructions are in supplements. Property is being sold as-is—don’t miss your chance to add this solid income-generating asset to your portfolio.

18. 2025-07-30
    soldstatus $115,000

    Show marketing remark (695 chars)

    The home includes a 2-car garage and boasts a low-maintenance exterior, making it an excellent choice for both owner-occupants and investors seeking long-term value. The property needs work but has strong rental potential making it ideal for investors seeking cash flow. This is an estate, the seller will make no repairs. The buyer must assume all City of East Cleveland Point-of-Sale (POS) violations and repairs. Buyer must sign East Cleveland Buyers Affidavit. POS has been initiated by the seller and is in process. Occupancy Permit Instructions are in supplements. Property is being sold as-is—don’t miss your chance to add this solid income-generating asset to your portfolio.

19. 2025-07-09
    status Pending 695-char remark

    Show marketing remark (695 chars)

    The home includes a 2-car garage and boasts a low-maintenance exterior, making it an excellent choice for both owner-occupants and investors seeking long-term value. The property needs work but has strong rental potential making it ideal for investors seeking cash flow. This is an estate, the seller will make no repairs. The buyer must assume all City of East Cleveland Point-of-Sale (POS) violations and repairs. Buyer must sign East Cleveland Buyers Affidavit. POS has been initiated by the seller and is in process. Occupancy Permit Instructions are in supplements. Property is being sold as-is—don’t miss your chance to add this solid income-generating asset to your portfolio.

20. 2025-06-25
    listed $130,000 Active 695-char remark

    Show marketing remark (695 chars)

    The home includes a 2-car garage and boasts a low-maintenance exterior, making it an excellent choice for both owner-occupants and investors seeking long-term value. The property needs work but has strong rental potential making it ideal for investors seeking cash flow. This is an estate, the seller will make no repairs. The buyer must assume all City of East Cleveland Point-of-Sale (POS) violations and repairs. Buyer must sign East Cleveland Buyers Affidavit. POS has been initiated by the seller and is in process. Occupancy Permit Instructions are in supplements. Property is being sold as-is—don’t miss your chance to add this solid income-generating asset to your portfolio.

21. 2016-06-21
    soldstatus $10,000 Sold
22. 2016-05-02
    status Pending
23. 2016-04-20
    historical Contingent
24. 2016-04-11
    listed $9,000 Active
25. 2008-10-28
    historical
26. 2008-06-18
    historical
27. 2008-05-02
    listed $12,834
28. 2008-01-18
    listed $12,834
29. 1998-02-20
    soldstatus $72,900
30. 1998-02-20
    soldstatus $72,900
31. 1997-12-27
    historical
32. 1997-06-14
    listed $69,999
33. 1979-12-20
    soldstatus $51,000

ⓘ 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: $1,234 · $103/mo
• Projected year-2 tax: $2,176 · $181/mo
• Expected delta: +$942/yr (+$79/mo · 76.4%)

ⓘ 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: $34,020
• − Mortgage interest: −$11,198
• − Property taxes: −$1,234
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,722
• − Management: −$2,722
• − Depreciation: −$5,815
• Taxable income: $9,331
• Est. tax owed @ 24.0%: −$2,239
• After-tax cash flow: $9,824/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: East Cleveland City School District
• NCES district ID: 3904390
• Math proficiency: 4% ▼ -16.00%
• Reading proficiency: 17% ▼ -13.00%
• Median HH income: $22,726
• Composite: 7.38/100
• National rank: #9954
• State rank: #652 of 656 in OH

Livability — East Cleveland

• Score: 66/100
• State rank: #650
• US rank: #11510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Cleveland, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 17,848
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 40,715
• Household income: $77,555
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1847.0

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 0.56)
• Race & ethnicity: White 57% Black 33% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -319.62%
• Current HPI: 204.5504
• Rent YoY: ▲ 5.70%
• 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

+292.0% since first listed

19 events — show timeline

• 2026-05-18 Price Changed $199,900 MLSNOW
• 2026-04-09 Listed $235,000 MLSNOW
• 2025-07-30 Sold (Public Records) $115,000 Public Records
• 2025-07-30 Sold (MLS) $115,000 MLSNOW
• 2025-07-09 Pending — MLSNOW
• 2025-06-25 Listed $130,000 MLSNOW
• 2016-06-21 Sold (MLS) $10,000 MLSNOW
• 2016-05-02 Pending — MLSNOW
• 2016-04-20 Contingent — MLSNOW
• 2016-04-11 Listed $9,000 MLSNOW
• 2008-10-28 Listing Removed — MLSNOW
• 2008-06-18 Listing Removed — MLSNOW
• 2008-05-02 Listed $12,834 MLSNOW
• 2008-01-18 Listed $12,834 MLSNOW
• 1998-02-20 Sold (Public Records) $72,900 Public Records
• 1998-02-20 Sold (MLS) $72,900 MLSNOW
• 1997-12-27 Listing Removed — MLSNOW
• 1997-06-14 Listed $69,999 MLSNOW
• 1979-12-20 Sold (Public Records) $51,000 Public Records

Property tax history

-3.6%/yr

Latest (2025): $1,234 · +0.0% YoY. Source: county tax records.