3388 Beechwood Ave · Cleveland Heights, OH 44118

$295,000

6 bd · 2.0 ba · 3,620 sqft · MultiFamily public records · 232 Days on market

Built 1920 5,998 sqft lot Est $304k · at est.

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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 +22.9/30.0
• ARV discount +8.8/15.0
• DSCR +7.3/10.0
• 1% rule +6.6/10.0
• Livability +4.5/5.0
• 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 MLS

Amazing Value! This Gorgeous 3BD/2.5BA Townhome was Completely Rebuilt Several Years Ago! Zoned as a Condo; however there are No Association or Maintenance Fees!!! Large Living Room w/ Open Beam Ceiling, Updated Light Fixtures, and Plenty of Windows to Let the Sunshine In! Open Eat-in Kitchen w/ Center Island, Stainless Steel Appliances, and Walk-in Pantry. Half Bath on 1st. Two Large Bedrooms on 2nd. Front Bedroom Leads to Open Front Porch. Back Bedroom is a True Master Bedroom Featuring an in-Suite Full Bath. Additional Full Bath on 2nd. Spacious 3rd Bedroom on Top Level. Full Basement is Ready for Your Finishing Touches. Vinyl Siding. Newer Roof, Windows, Doors, High Efficiency Furnace & Hot Water Tank, Central Air, Electrical, Plumbing, and Everything in Between! Garage Parking w/ Door Opener and Remote. Minutes to Cleveland Clinic, UH, Case, & University Circle. Walkable to Shopping & Parks. Must See to Truly Appreciate! Call for Your Private Showing Today!

Key facts

• Three stories
• Move in ready duplex
• Great location

Tags

• MOVE IN READY DUPLEX
• THREE STORIES
• EXPOSED BEAMS
• IN UNIT LAUNDRY
• GREAT LOCATION
• CLOSE TO UNIVERSITY CIRCLE

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $518 ($6k/yr) — positive. Per door: $259/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Recommended offer: $260k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.3% 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+.
• 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); 258 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,409/mo this rent would consume 53% 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 $9k 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 $83k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 232 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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 $205k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.16% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $304,080
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1558 Ivydale Rd	0.45mi	7/3.0 (+1)	3,696 (+2%)	3mo	$249,000	$67	64
3430 Beechwood Ave	0.08mi	5/3.5 (-1)	3,146 (-13%)	2mo	$285,000	$91	62
3239 Sycamore Rd	0.38mi	6/2.0	3,275 (-10%)	12mo	$277,000	$85	56
1695 Lee Rd	0.48mi	7/3.0 (+1)	3,454 (-5%)	6mo	$215,000	$62	56
3310 E Overlook Rd	0.46mi	5/3.0 (-1)	3,882 (+7%)	4mo	$190,000	$49	54
3326 E Overlook Rd	0.45mi	6/3.0	3,377 (-7%)	23mo	$285,000	$84	44

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-5,191
• Equity at exit: $43,985

10-year hold

• IRR: 10.9%
• Equity multiple: 1.97×
• Total profit: $79,729
• Equity at exit: $25,506

Cash invested: $82,600 (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 44118

• Rents YoY: 5.7%
• Active inventory: 258
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $3,409 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$506 /mo · $6,067/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $518

Break-even live

Break-even rent $2,754

Max offer price $295,000

Occupancy floor 80%

Sensitivity live

Price	-10% $685	-5% $601	+0% $518	+5% $434	+10% $351
Rent	-10% $248	-5% $383	+0% $518	+5% $652	+10% $787
Rate	-1.0pp $666	-0.5pp $593	base $518	+0.5pp $441	+1.0pp $363

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,408
Total (2 units)			$3,409

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3355 Desota Ave Cleveland, OH	5.0	2.0	2540	$2,031	$0.80	8d	1	0.12mi

Listing history 24 events

1. 2026-02-06
   status Pending
2. 2025-06-19
   listed $295,000 Active
3. 2022-04-21
   price $1,400
4. 2022-01-26
   soldstatus $205,000
5. 2014-06-23
   soldstatus $63,000 993-char remark

   Show marketing remark (993 chars)

   Amazing Value! This Gorgeous 3BD/2.5BA Townhome was Completely Rebuilt Several Years Ago! Zoned as a Condo; however there are No Association or Maintenance Fees!!! Large Living Room w/ Open Beam Ceiling, Updated Light Fixtures, and Plenty of Windows to Let the Sunshine In! Open Eat-in Kitchen w/ Center Island, Stainless Steel Appliances, and Walk-in Pantry. Half Bath on 1st. Two Large Bedrooms on 2nd. Front Bedroom Leads to Open Front Porch. Back Bedroom is a True Master Bedroom Featuring an in-Suite Full Bath. Additional Full Bath on 2nd. Spacious 3rd Bedroom on Top Level. Full Basement is Ready for Your Finishing Touches. Vinyl Siding. Newer Roof, Windows, Doors, High Efficiency Furnace & Hot Water Tank, Central Air, Electrical, Plumbing, and Everything in Between! Garage Parking w/ Door Opener and Remote. Minutes to Cleveland Clinic, UH, Case, & University Circle. Walkable to Shopping & Parks. Must See to Truly Appreciate! Call for Your Private Showing Today!

6. 2014-06-17
   soldstatus $63,000
7. 2014-05-28
   historical 993-char remark

   Show marketing remark (993 chars)

   Amazing Value! This Gorgeous 3BD/2.5BA Townhome was Completely Rebuilt Several Years Ago! Zoned as a Condo; however there are No Association or Maintenance Fees!!! Large Living Room w/ Open Beam Ceiling, Updated Light Fixtures, and Plenty of Windows to Let the Sunshine In! Open Eat-in Kitchen w/ Center Island, Stainless Steel Appliances, and Walk-in Pantry. Half Bath on 1st. Two Large Bedrooms on 2nd. Front Bedroom Leads to Open Front Porch. Back Bedroom is a True Master Bedroom Featuring an in-Suite Full Bath. Additional Full Bath on 2nd. Spacious 3rd Bedroom on Top Level. Full Basement is Ready for Your Finishing Touches. Vinyl Siding. Newer Roof, Windows, Doors, High Efficiency Furnace & Hot Water Tank, Central Air, Electrical, Plumbing, and Everything in Between! Garage Parking w/ Door Opener and Remote. Minutes to Cleveland Clinic, UH, Case, & University Circle. Walkable to Shopping & Parks. Must See to Truly Appreciate! Call for Your Private Showing Today!

8. 2013-09-03
   listed $72,000 993-char remark

   Show marketing remark (993 chars)

   Amazing Value! This Gorgeous 3BD/2.5BA Townhome was Completely Rebuilt Several Years Ago! Zoned as a Condo; however there are No Association or Maintenance Fees!!! Large Living Room w/ Open Beam Ceiling, Updated Light Fixtures, and Plenty of Windows to Let the Sunshine In! Open Eat-in Kitchen w/ Center Island, Stainless Steel Appliances, and Walk-in Pantry. Half Bath on 1st. Two Large Bedrooms on 2nd. Front Bedroom Leads to Open Front Porch. Back Bedroom is a True Master Bedroom Featuring an in-Suite Full Bath. Additional Full Bath on 2nd. Spacious 3rd Bedroom on Top Level. Full Basement is Ready for Your Finishing Touches. Vinyl Siding. Newer Roof, Windows, Doors, High Efficiency Furnace & Hot Water Tank, Central Air, Electrical, Plumbing, and Everything in Between! Garage Parking w/ Door Opener and Remote. Minutes to Cleveland Clinic, UH, Case, & University Circle. Walkable to Shopping & Parks. Must See to Truly Appreciate! Call for Your Private Showing Today!

9. 2012-01-31
   historical
10. 2011-07-08
    listed $94,900
11. 2007-11-18
    soldstatus $90,000
12. 2007-07-31
    historical
13. 2006-09-28
    listed $118,900
14. 2006-08-08
    historical
15. 2006-05-08
    listed $149,500
16. 2006-04-30
    historical
17. 2006-04-30
    historical
18. 2006-02-07
    listed $149,500
19. 2005-09-15
    listed $149,500
20. 2003-05-13
    soldstatus $121,500
21. 2003-03-13
    listed $164,900
22. 2002-11-01
    soldstatus $95,000
23. 1987-06-01
    soldstatus $63,000
24. 1983-02-28
    soldstatus $33,000

ⓘ 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: $6,067 · $506/mo
• Projected year-2 tax: $6,067 · $506/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 ≥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: $40,908
• − Mortgage interest: −$16,525
• − Property taxes: −$6,067
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,273
• − Management: −$3,273
• − Depreciation: −$8,582
• Taxable income: $1,714
• Est. tax owed @ 24.0%: −$411
• After-tax cash flow: $5,800/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 — 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): 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

+793.9% since first listed

24 events — show timeline

• 2026-02-06 Pending — MLSNOW
• 2025-06-19 Listed $295,000 MLSNOW
• 2022-04-21 Price Changed $1,400 RENT.
• 2022-01-26 Sold (Public Records) $205,000 Public Records
• 2014-06-23 Sold (MLS) $63,000 MLSNOW
• 2014-06-17 Sold (Public Records) $63,000 Public Records
• 2014-05-28 Listing Removed — MLSNOW
• 2013-09-03 Listed $72,000 MLSNOW
• 2012-01-31 Listing Removed — MLSNOW
• 2011-07-08 Listed $94,900 MLSNOW
• 2007-11-18 Sold (MLS) $90,000 MLSNOW
• 2007-07-31 Listing Removed — MLSNOW
• 2006-09-28 Listed $118,900 MLSNOW
• 2006-08-08 Listing Removed — MLSNOW
• 2006-05-08 Listed $149,500 MLSNOW
• 2006-04-30 Listing Removed — MLSNOW
• 2006-04-30 Listing Removed — MLSNOW
• 2006-02-07 Listed $149,500 MLSNOW
• 2005-09-15 Listed $149,500 MLSNOW
• 2003-05-13 Sold (MLS) $121,500 MLSNOW
• 2003-03-13 Listed $164,900 MLSNOW
• 2002-11-01 Sold (Public Records) $95,000 Public Records
• 1987-06-01 Sold (Public Records) $63,000 Public Records
• 1983-02-28 Sold (Public Records) $33,000 Public Records

Property tax history

-9.6%/yr

Latest (2025): $6,067 · -2.0% YoY. Source: county tax records.