949 Helmsdale Rd · Cleveland Heights, OH 44112

$199,900

4 bd · 2.0 ba · 2,120 sqft · MultiFamily public records · 31 Days on market

Built 1925 4,800 sqft lot Est $142k · 41% 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 +8.6/10.0
• Livability +4.5/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0
• 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

Large 5x5 Two Family. Formal Dining Rooms With Built In Cabinets. Living Rooms With Fireplaces.

Key facts

• Tenant occupied
• Violation free
• Large front porches

Tags

• LARGE FRONT PORCHES
• TENANT OCCUPIED
• VACANT UNIT
• VIOLATION FREE

Property features AI

Finance

• Financial info: One building containing multiple units; One first-floor 2-bedroom unit is leased for $1,175 — lease expires April 30, 2027

Exterior

• Parking: Detached 2-car garage; Driveway
• Utilities: Public water; Public sewer
• Home design: 3-story building; Vinyl siding; Asphalt roof; Estimated 2,520 above-grade finished area
• Construction: Vinyl siding construction; Asphalt roof
• Exterior features: Public water; Public sewer

Interior

• Bedrooms: Three-bedroom unit on 2nd and 3rd floors; Two-bedroom unit on 1st floor
• Bathrooms: 2 full bathrooms (building total); Each unit includes 1 bathroom
• Heating & cooling: Forced air heating
• Interior features: Full unfinished basement; 12 total rooms

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 $752 ($9k/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: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 4.4% in Cleveland 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 89/100 on livability (#12 in OH, #124 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• 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 (+5.2%/yr); 99 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,711/mo this rent would consume 113% of the median local household income ($29k/yr) (locally 1702% 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 + 5.2% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $19k; list at $200k implies a 941% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.36% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.13%
• DSCR: 1.72
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $142,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
931 Helmsdale Rd	0.04mi	4/2.0	2,074 (-2%)	7mo	$150,000	$72	89
894 Helmsdale Rd	0.11mi	4/2.0	2,152 (+2%)	8mo	$93,000	$43	85
971 Helmsdale Rd	0.05mi	4/2.0	2,108 (-1%)	19mo	$15,000	$7	81
825 Helmsdale Rd	0.24mi	4/2.0	2,266 (+7%)	4mo	$180,000	$79	74
16118 Greyton Rd	0.35mi	4/2.0	2,090 (-1%)	9mo	$62,500	$30	74
860 Greyton Rd	0.23mi	4/2.0	2,126 (+0%)	21mo	$150,000	$71	72
872 Eloise Dr	0.22mi	4/2.0	1,872 (-12%)	10mo	$125,000	$67	61
2307 Noble Rd	0.43mi	4/2.0	2,072 (-2%)	21mo	$130,000	$63	59
864 Eloise Dr	0.24mi	4/2.0	1,872 (-12%)	18mo	$84,256	$45	55
881 Eloise Dr	0.22mi	4/2.0	1,872 (-12%)	24mo	$134,000	$72	50
975 Yellowstone Rd	0.56mi	4/2.0	1,885 (-11%)	14mo	$149,900	$80	44
2304 Noble Rd	0.41mi	5/2.0 (+1)	2,402 (+13%)	23mo	$138,000	$57	35

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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.39×
• Total profit: $21,590
• Equity at exit: $29,806

10-year hold

• IRR: 20.4%
• Equity multiple: 2.90×
• Total profit: $106,501
• 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 44112

• Rents YoY: 5.2%
• Active inventory: 99
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,711 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$258 /mo · $3,093/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $752

Break-even live

Break-even rent $1,759

Max offer price $199,900

Occupancy floor 67%

Sensitivity live

Price	-10% $866	-5% $809	+0% $752	+5% $696	+10% $639
Rent	-10% $538	-5% $645	+0% $752	+5% $859	+10% $967
Rate	-1.0pp $853	-0.5pp $803	base $752	+0.5pp $701	+1.0pp $648

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,198
1× unit	3	1	$1,514
Total (2 units)			$2,711

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 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
983 Greyton Rd Cleveland, OH	3.0	2.0	1457	$1,495	$1.03	16d	1	0.09mi
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	44d	1	0.12mi
3430 Winsford Rd Cleveland, OH	4.0	1.5	1800	$1,590	$0.88	16d	1	0.19mi
910 Dresden Rd Cleveland, OH	4.0	2.0	1839	$1,800	$0.98	16d	1	0.26mi
821 Nela View Rd Cleveland, OH	4.0	2.5	2178	$2,100	$0.96	8d	1	0.28mi
1099 Woodview Rd Cleveland, OH	4.0	1.0	1500	$2,500	$1.67	2d	1	0.38mi
15801 Hazel Rd Cleveland, OH	3.0	1.5	1908	$1,550	$0.81	16d	1	0.52mi
994 Yellowstone Rd Cleveland, OH	3.0	2.0	1475	$1,395	$0.95	2d	1	0.52mi
16000 Terrace Rd Cleveland, OH	1.0–3.0	1.0–2.0	1000	$1,210	$1.21	2d	39	0.57mi
1131 Cleveland Heights Blvd Cleveland, OH	5.0	2.0	1500	$2,550	$1.70	2d	1	0.88mi
3777 Montevista Rd Cleveland, OH	5.0	2.0	2050	$2,900	$1.41	2d	1	1.00mi
3808 Kirkwood Rd Cleveland, OH	4.0	1.5	1740	$2,150	$1.24	15d	1	1.02mi
3802 Princeton Blvd Cleveland, OH	3.0	1.5	1656	$2,275	$1.37	2d	1	1.08mi
3917 Bluestone Rd Cleveland, OH	4.0	1.5	1700	$1,650	$0.97	21d	1	1.11mi
1082 Hillstone Rd Cleveland, OH	3.0	2.0	2376	$1,695	$0.71	24d	1	1.16mi
1082 Hillstone Rd Unit 1 Cleveland Heights, OH	3.0	1.5	2376	$1,695	$0.71	24d	1	1.16mi
3201 Whitethorn Rd Unit 3203 Cleveland Heights, OH	5.0	1.5	1485	$1,725	$1.16	24d	1	1.25mi
1462 Parkhill Rd Cleveland, OH	4.0	1.0	1451	$1,950	$1.34	2d	1	1.30mi
14172 Superior Rd Unit 1 Cleveland Heights, OH	3.0	1.0	1446	$1,295	$0.90	24d	1	1.45mi
3411 Beechwood Ave Unit 2nd floor Cleveland Heights, OH	3.0	1.0	1452	$1,687	$1.16	5d	1	1.48mi

Listing history 27 events

1. 2026-06-18
   days on market $199,900 Active 31 DOM
2. 2026-06-17
   days on market $199,900 Active 30 DOM
3. 2026-06-16
   days on market $199,900 Active 29 DOM
4. 2026-06-15
   days on market $199,900 Active 28 DOM
5. 2026-06-13
   days on market $199,900 Active 26 DOM
6. 2026-06-13
   days on market $199,900 Active 25 DOM
7. 2026-06-09
   days on market $199,900 Active 22 DOM
8. 2026-06-08
   days on market $199,900 Active 21 DOM
9. 2026-06-07
   days on market $199,900 Active 20 DOM
10. 2026-06-05
    days on market $199,900 Active 17 DOM
11. 2026-06-03
    days on market $199,900 Active 16 DOM
12. 2026-06-02
    days on market $199,900 Active 15 DOM
13. 2026-06-01
    days on market $199,900 Active 14 DOM
14. 2026-05-31
    days on market $199,900 Active 13 DOM
15. 2026-05-18
    listed $199,900 Active
16. 2026-05-01
    historical $1,175
17. 2026-04-05
    listed $1,175
18. 2026-03-25
    historical $1,175
19. 2026-02-13
    listed $1,175
20. 2022-10-29
    historical
21. 2022-08-10
    listed $100,000 Active
22. 2008-08-28
    soldstatus $19,200 95-char remark

    Show marketing remark (95 chars)

    Large 5x5 Two Family. Formal Dining Rooms With Built In Cabinets. Living Rooms With Fireplaces.

23. 2008-07-08
    historical 95-char remark

    Show marketing remark (95 chars)

    Large 5x5 Two Family. Formal Dining Rooms With Built In Cabinets. Living Rooms With Fireplaces.

24. 2008-04-08
    listed $24,500 95-char remark

    Show marketing remark (95 chars)

    Large 5x5 Two Family. Formal Dining Rooms With Built In Cabinets. Living Rooms With Fireplaces.

25. 2000-05-02
    soldstatus $91,000
26. 1987-02-19
    soldstatus $46,000
27. 1979-07-19
    soldstatus $45,000

ⓘ 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: $3,093 · $258/mo
• Projected year-2 tax: $3,106 · $259/mo
• Expected delta: +$13/yr (+$1/mo · 0.4%)

ⓘ 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 · 16 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: $32,532
• − Mortgage interest: −$11,198
• − Property taxes: −$3,093
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,603
• − Management: −$2,603
• − Depreciation: −$5,815
• Taxable income: $6,222
• Est. tax owed @ 24.0%: −$1,493
• After-tax cash flow: $7,535/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 — Cleveland Heights

• Score: 89/100
• State rank: #12
• US rank: #124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 32,312
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 17,848
• Household income: $28,799
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1702.0

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 (89%)
• Race & ethnicity: Black 89% White 7% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 3% Spanish 2% Russian/Polish/Slavic 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: ▼ -115.61%
• Current HPI: 67.2162
• Rent YoY: ▲ 5.16%
• 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

+344.2% since first listed

13 events — show timeline

• 2026-05-18 Listed $199,900 MLSNOW
• 2026-05-01 Rental Removed $1,175 RENTALBEAST
• 2026-04-05 Listed for Rent $1,175 RENTALBEAST
• 2026-03-25 Rental Removed $1,175 RENTALBEAST
• 2026-02-13 Listed for Rent $1,175 RENTALBEAST
• 2022-10-29 Listing Removed — MLSNOW
• 2022-08-10 Listed $100,000 MLSNOW
• 2008-08-28 Sold (MLS) $19,200 MLSNOW
• 2008-07-08 Listing Removed — MLSNOW
• 2008-04-08 Listed $24,500 MLSNOW
• 2000-05-02 Sold (Public Records) $91,000 Public Records
• 1987-02-19 Sold (Public Records) $46,000 Public Records
• 1979-07-19 Sold (Public Records) $45,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $3,093 · +0.0% YoY. Source: county tax records.