13699 Cedar Rd · University Heights, OH 44118

$264,900

4 bd · 2.0 ba · 2,969 sqft · MultiFamily public records · 4 Days on market

Built 1947 8,712 sqft lot Est $285k · 7% under

---

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 +23.7/30.0
• ARV discount +10.7/15.0
• DSCR +7.6/10.0
• 1% rule +7.0/10.0
• Livability +4.7/5.0
• Rent growth +3.9/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 13699 Cedar Rd, a beautifully maintained all-brick Duplex in the heart of University Heights offering nearly 3,000 square feet above grade plus approximately 700 square feet of additional finished basement space. This spacious property features two large units, each offering 2 bedrooms, 1 full bath, and approximately 1,485 square feet of living space, making it an ideal opportunity for investors or owner-occupants alike. Each unit includes its own private laundry area along with separate finished basement space including a 3rd full bath, providing added flexibility for tenants or an owner occupant. The property has been consistently maintained and thoughtfully updated, giving buy

Key facts

• New furnace
• All brick duplex
• Water heater

Tags

• ALL BRICK DUPLEX
• PRIVATE LAUNDRY AREA
• FINISHED BASEMENT SPACE
• NEW FURNACE
• CENTRAL AIR
• WATER HEATER

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive. Per door: $251/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Cap rate 8.6% vs local median 3.6% in University 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 94/100 on livability (#1 in OH, #3 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment 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 (+5.7%/yr); 253 active listings in the ZIP; 12 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).
• At $3,180/mo this rent would consume 49% of the median local household income ($78k/yr) (locally 1847% 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 $8k 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 $74k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $107k; list at $265k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $264,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.13%
• DSCR: 1.36
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $285,024
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13699 Cedar Rd	0.00mi	4/3.0	2,969 (0%)	1mo	$270,000	$91	95
13678 Cedar Rd	0.05mi	4/2.5	2,758 (-7%)	12mo	$275,000	$100	73
13630 Cedar Rd	0.14mi	3/4.0 (-1)	2,576 (-13%)	15mo	$232,500	$90	46
2392 Warrensville Center Rd	0.74mi	4/2.0	2,600 (-12%)	3mo	$250,000	$96	43

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,899
• Equity at exit: $39,497

10-year hold

• IRR: 11.9%
• Equity multiple: 2.06×
• Total profit: $78,669
• Equity at exit: $22,904

Cash invested: $74,172 (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: 13.9×

Monthly cashflow live

• Estimated rent: $3,180 high
• Mortgage (P&I): −$1,389
• Tax from tax record: −$510 /mo · $6,123/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $502

Break-even live

Break-even rent $2,544

Max offer price $264,900

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,180
Total (2 units)			$3,180

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2267 Edgerton Rd University Heights, OH	3.0	1.5	1958	$1,750	$0.89	16d	1	0.30mi
3921 Bushnell Rd Cleveland, OH	3.0	2.0	2175	$2,400	$1.10	19d	1	0.47mi
4069 Bushnell Rd Cleveland, OH	3.0	1.5	2397	$2,000	$0.83	12d	1	0.74mi
4037 Washington Blvd University Heights, OH	3.0	2.5	2403	$2,750	$1.14	1d	1	0.74mi
3355 Desota Ave Cleveland, OH	5.0	2.0	2540	$2,031	$0.80	7d	1	0.90mi
4198 Bushnell Rd Cleveland, OH	3.0	1.5	2253	$2,100	$0.93	10d	1	0.97mi
13108 Cedar Rd Unit 13108 Cleveland Heights, OH	4.0	2.0	2116	$1,450	$0.69	23d	1	1.10mi
13108 Cedar Rd Cleveland, OH	4.0	2.0	2116	$1,500	$0.71	23d	1	1.10mi
1796 Cumberland Rd Cleveland Heights, OH	4.0	2.5	2100	$1,800	$0.86	17d	1	1.23mi
2452 Bromley Rd University Heights, OH	4.0	2.5	2219	$2,800	$1.26	23d	1	1.25mi
2056 Laurelhill Dr Cleveland, OH	4.0	2.5	2482	$2,500	$1.01	3d	1	1.28mi
2536 Claver Rd University Heights, OH	5.0	3.0	2889	$2,850	$0.99	1d	1	1.43mi

Listing history 3 events

1. 2026-03-24
   status Pending
2. 2026-03-19
   listed $264,900 Active
3. 1991-04-01
   soldstatus $107,000

ⓘ 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: $6,123 · $510/mo
• Projected year-2 tax: $6,123 · $510/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 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,160
• − Mortgage interest: −$14,839
• − Property taxes: −$6,123
• − Insurance: −$1,324
• − Repairs & maintenance: −$3,053
• − Management: −$3,053
• − Depreciation: −$7,706
• Taxable income: $2,062
• Est. tax owed @ 24.0%: −$495
• After-tax cash flow: $5,534/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 — University Heights

• Score: 94/100
• State rank: #1
• US rank: #3

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: University Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 32,312
• 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

+147.6% since first listed

3 events — show timeline

• 2026-03-24 Pending — MLSNOW
• 2026-03-19 Listed $264,900 MLSNOW
• 1991-04-01 Sold (Public Records) $107,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $6,123 · -2.4% YoY. Source: county tax records.