14512 Granger Rd · Maple Heights, OH 44137

$195,000

4 bd · 2.0 ba · 2,184 sqft · MultiFamily public records · 44 Days on market

Built 1930 0.31 ac lot $89/sqft · at area comps Est $186k · at est.

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Why this score? — see what drove the B- 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 +9.9/10.0
• ARV discount +5.4/15.0
• Rent growth +5.0/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• 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 MLS

Double home on a large property featuring two separate units. Each unit includes 2 bedrooms, a living room, a dining room, a kitchen, and a bathroom. Recent improvements include newer furnaces and updated electrical systems. The property also includes a 3-car garage located at the rear of the home. 14510 Granger (house that shares the driveway) is also for sale by the same owner.

Key facts

• Newer furnaces
• Two separate units
• 3-car garage

Tags

• LARGE PROPERTY
• TWO SEPARATE UNITS
• NEWER FURNACES
• UPDATED ELECTRICAL SYSTEMS
• 3-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $888 ($11k/yr) — positive. Per door: $444/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 7.7% in Maple 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 70/100 on livability (#470 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A-; Watch: schools D+, crime D, employment D.
• Maple Heights City (suburban): math 14% / reading 25% proficiency, ranked #630 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+14.8%/yr); 84 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,915/mo this rent would consume 65% of the median local household income ($54k/yr) (locally 971% 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 $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 + 8.0% rent growth), your $55k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $108k; list at $195k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
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: 11.76%
• Cash-on-cash: 19.51%
• DSCR: 1.87
• GRM: 5.6

CMA / ARV

• ARV (median comp): $186,410
• List price: $195,000
• Delta: 4.61%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.74×
• Total profit: $40,445
• Equity at exit: $29,075

10-year hold

• IRR: 29.2%
• Equity multiple: 4.27×
• Total profit: $178,501
• Equity at exit: $16,860

Cash invested: $54,600 (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 44137

• Home prices YoY: -34.7%
• Rents YoY: 14.8%
• Active inventory: 84
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,915 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$311 /mo · $3,733/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $888

Break-even live

Break-even rent $1,791

Max offer price $195,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,914
Total (2 units)			$2,915

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5270 Beech Ave Maple Heights, OH	3.0	1.0	1401	$1,350	$0.96	16d	1	0.12mi
13319 McCracken Rd Cleveland, OH	3.0	1.0	1664	$2,000	$1.20	3d	1	0.65mi
15913 Grant Ave Maple Heights, OH	3.0	1.5	1400	$1,390	$0.99	16d	1	0.75mi
14509 Rockside Rd Maple Heights, OH	3.0	2.0	1430	$2,300	$1.61	1d	1	0.93mi
5225 Theodore St Maple Heights, OH	3.0	1.0	1785	$1,450	$0.81	4d	1	0.94mi
5069 Henry St Cleveland, OH	3.0	2.0	1575	$2,000	$1.27	21d	1	1.02mi
5508 Grasmere Ave Maple Heights, OH	3.0	2.0	1834	$1,710	$0.93	44d	1	1.12mi
13629 Cranwood Park Blvd Cleveland, OH	3.0	1.0	1525	$1,500	$0.98	23d	1	1.23mi
5153 Cato St Maple Heights, OH	4.0	2.0	1560	$1,850	$1.19	23d	1	1.38mi
11107 Park Heights Ave Cleveland, OH	4.0	2.0	1640	$2,000	$1.22	1d	1	1.44mi
5713 South Blvd Maple Heights, OH	3.0	1.0	1700	$2,300	$1.35	1d	1	1.48mi

Listing history 8 events

1. 2026-05-14
   status Pending 382-char remark

   Show marketing remark (382 chars)

   Double home on a large property featuring two separate units. Each unit includes 2 bedrooms, a living room, a dining room, a kitchen, and a bathroom. Recent improvements include newer furnaces and updated electrical systems. The property also includes a 3-car garage located at the rear of the home. 14510 Granger (house that shares the driveway) is also for sale by the same owner.

2. 2026-04-20
   price $195,000 382-char remark

   Show marketing remark (382 chars)

   Double home on a large property featuring two separate units. Each unit includes 2 bedrooms, a living room, a dining room, a kitchen, and a bathroom. Recent improvements include newer furnaces and updated electrical systems. The property also includes a 3-car garage located at the rear of the home. 14510 Granger (house that shares the driveway) is also for sale by the same owner.

3. 2026-04-13
   status Active 382-char remark

   Show marketing remark (382 chars)

   Double home on a large property featuring two separate units. Each unit includes 2 bedrooms, a living room, a dining room, a kitchen, and a bathroom. Recent improvements include newer furnaces and updated electrical systems. The property also includes a 3-car garage located at the rear of the home. 14510 Granger (house that shares the driveway) is also for sale by the same owner.

4. 2026-02-16
   status Pending 382-char remark

   Show marketing remark (382 chars)

   Double home on a large property featuring two separate units. Each unit includes 2 bedrooms, a living room, a dining room, a kitchen, and a bathroom. Recent improvements include newer furnaces and updated electrical systems. The property also includes a 3-car garage located at the rear of the home. 14510 Granger (house that shares the driveway) is also for sale by the same owner.

5. 2026-02-05
   price $199,995 382-char remark

   Show marketing remark (382 chars)

   Double home on a large property featuring two separate units. Each unit includes 2 bedrooms, a living room, a dining room, a kitchen, and a bathroom. Recent improvements include newer furnaces and updated electrical systems. The property also includes a 3-car garage located at the rear of the home. 14510 Granger (house that shares the driveway) is also for sale by the same owner.

6. 2026-01-30
   listed $209,995 Active 382-char remark

   Show marketing remark (382 chars)

   Double home on a large property featuring two separate units. Each unit includes 2 bedrooms, a living room, a dining room, a kitchen, and a bathroom. Recent improvements include newer furnaces and updated electrical systems. The property also includes a 3-car garage located at the rear of the home. 14510 Granger (house that shares the driveway) is also for sale by the same owner.

7. 2024-01-25
   soldstatus $107,500
8. 1994-12-08
   soldstatus $70,000

ⓘ 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: $3,733 · $311/mo
• Projected year-2 tax: $3,733 · $311/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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,980
• − Mortgage interest: −$10,923
• − Property taxes: −$3,733
• − Insurance: −$975
• − Repairs & maintenance: −$2,798
• − Management: −$2,798
• − Depreciation: −$5,673
• Taxable income: $8,080
• Est. tax owed @ 24.0%: −$1,939
• After-tax cash flow: $8,716/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: Maple Heights City
• NCES district ID: 3904430
• Math proficiency: 14% ▼ -22.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $38,856
• Composite: 16.39/100
• National rank: #9197
• State rank: #630 of 656 in OH

Livability — Maple Heights

• Score: 70/100
• State rank: #470
• US rank: #7818

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maple Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 23,285
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 23,285
• Household income: $53,918
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 971.0

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 (74%)
• Race & ethnicity: Black 74% White 20% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Scotch-Irish 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 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: ▼ -87.37%
• Current HPI: 164.4326
• Rent YoY: ▲ 14.82%
• 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

+178.6% since first listed

8 events — show timeline

• 2026-05-14 Pending — MLSNOW
• 2026-04-20 Price Changed $195,000 MLSNOW
• 2026-04-13 Relisted — MLSNOW
• 2026-02-16 Pending — MLSNOW
• 2026-02-05 Price Changed $199,995 MLSNOW
• 2026-01-30 Listed $209,995 MLSNOW
• 2024-01-25 Sold (Public Records) $107,500 Public Records
• 1994-12-08 Sold (Public Records) $70,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $3,733 · -8.4% YoY. Source: county tax records.