469 Richmond Rd · Richmond Heights, OH 44143

$179,900

2 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 14 Days on market

Built 1952 0.90 ac lot $134/sqft · 24% below area Est $237k · 24% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• 1% rule +4.5/10.0
• DSCR +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

This cute Cape Cod home located in Richmond Heights is centrally located near shopping, schools, public parks, and more. The cozy eat-in kitchen offers plenty of space to enjoy your morning coffee or breakfast with the family. The living room features original wood floors and a beautiful picture window that lets in an abundance of natural light. With two bedrooms and a full bathroom on the first floor, this home offers the convenience of first-floor living. The spacious second-floor primary suite provides plenty of closet space and privacy. The semi-finished basement includes a workout area, laundry space, and an additional living area that is perfect for kids to hang out, a media room, or

Key facts

• Cape cod home
• Picture window
• First-floor living

Tags

• CAPE COD HOME
• COZY EAT-IN KITCHEN
• ORIGINAL WOOD FLOORS
• PICTURE WINDOW
• FIRST-FLOOR LIVING
• SEMI-FINISHED BASEMENT

Property features AI

Exterior

• Parking: Driveway; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Aluminum siding and brick exterior; Asphalt/fiberglass roof; Below-grade finished area and above-grade finished area recorded
• Construction: Built (year source: appraiser); Aluminum siding; Brick exterior; Asphalt/fiberglass roof
• Exterior features: Wood full backyard fence

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Two main-level bedrooms; Additional bedrooms on first and second levels
• Flooring: Wood flooring in some bedrooms and living room; Linoleum in kitchen and one first-level bathroom; Concrete flooring in finished basement rooms
• Bathrooms: One full bathroom; One half bathroom (basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, partially finished basement; Total of 5 rooms
• Laundry & utility: Washer; Dryer; Basement laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $48 ($572/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (5.3% below list).
• Recommended offer: $170k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.7% in Richmond 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 (#471 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools D+, employment D+, health & safety D.
• Richmond Heights Local (suburban): math 11% / reading 27% proficiency, ranked #629 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 94 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 10y 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 $116k; list at $180k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,345 (5.3% below list)

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.14%
• DSCR: 1.05
• GRM: 8.8

CMA / ARV

• ARV (median comp): $237,189
• List price: $179,900
• Delta: -24.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
437 Cary Jay Blvd	0.40mi	3/2.0 (+1)	1,288 (-4%)	19mo	$144,000	$112	49
444 Dumbarton Blvd	0.72mi	3/1.5 (+1)	1,350 (+0%)	13mo	$215,000	$159	48
25855 Highland Rd	0.63mi	3/1.5 (+1)	1,482 (+10%)	9mo	$145,000	$98	38
531 Ransome Rd	0.73mi	3/1.5 (+1)	1,480 (+10%)	12mo	$275,000	$186	32
681 Radford Dr	0.65mi	3/1.5 (+1)	1,448 (+8%)	23mo	$266,000	$184	30
645 Strumbly Dr	0.71mi	3/2.0 (+1)	1,438 (+7%)	20mo	$305,000	$212	30
666 Strumbly Dr	0.71mi	3/2.5 (+1)	1,524 (+13%)	8mo	$360,000	$236	27

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-26,054
• Equity at exit: $26,824

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-18,533
• Equity at exit: $15,554

Cash invested: $50,372 (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 44143

• Active inventory: 94
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,703 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$280 /mo · $3,356/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $48

Break-even live

Break-even rent $1,643

Max offer price $179,900

Occupancy floor 92%

Sensitivity live

Price	-10% $150	-5% $99	+0% $48	+5% $-3	+10% $-54
Rent	-10% $-87	-5% $-20	+0% $48	+5% $115	+10% $182
Rate	-1.0pp $138	-0.5pp $93	base $48	+0.5pp $1	+1.0pp $-46

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
376 Royal Oak Blvd Cleveland, OH	3.0	1.5	1420	$1,740	$1.23	20d	1	0.74mi

Listing history 13 events

1. 2026-05-14
   listed $179,900 Active 1325-char remark
2. 2025-09-23
   historical
3. 2025-05-30
   status Active
4. 2025-05-30
   price $185,000
5. 2025-02-21
   listed $189,900 Active
6. 2018-01-23
   historical
7. 2017-08-19
   price $74,900
8. 2017-05-09
   listed $82,000 Active
9. 2017-05-05
   historical
10. 2016-08-17
    status Active
11. 2016-07-30
    historical Contingent
12. 2016-07-02
    listed $74,900 Active
13. 2001-01-04
    soldstatus $115,500

ⓘ 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: $3,356 · $280/mo
• Projected year-2 tax: $3,356 · $280/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 · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,441
• − Mortgage interest: −$10,077
• − Property taxes: −$3,356
• − Insurance: −$900
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$5,233
• Taxable loss: −$2,395
• Est. tax savings @ 24.0%: +$575
• After-tax cash flow: $1,147/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: Richmond Heights Local
• NCES district ID: 3904659
• Math proficiency: 11% ▼ -22.00%
• Reading proficiency: 27% ▼ -20.00%
• Median HH income: $47,884
• Composite: 16.82/100
• National rank: #9152
• State rank: #629 of 656 in OH

Livability — Richmond Heights

• Score: 70/100
• State rank: #471
• US rank: #7847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond Heights, OH
• County: Cuyahoga County · 1,090,369 people
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 24,597
• Household income: $81,268
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 656.0

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 0.57)
• Race & ethnicity: White 56% Black 34% Two or more races 5% Asian 3% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Russian/Polish/Slavic 3% Other Indo-European 3% Spanish 3%

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: ▼ -123.55%
• Current HPI: 167.6083
• Rent YoY: —
• 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

+55.8% since first listed

14 events — show timeline

• 2026-05-28 Pending — MLSNOW
• 2026-05-14 Listed $179,900 MLSNOW
• 2025-09-23 Listing Removed — MLSNOW
• 2025-05-30 Relisted — MLSNOW
• 2025-05-30 Price Changed $185,000 MLSNOW
• 2025-02-21 Listed $189,900 MLSNOW
• 2018-01-23 Listing Removed — MLSNOW
• 2017-08-19 Price Changed $74,900 MLSNOW
• 2017-05-09 Listed $82,000 MLSNOW
• 2017-05-05 Listing Removed — MLSNOW
• 2016-08-17 Relisted — MLSNOW
• 2016-07-30 Contingent — MLSNOW
• 2016-07-02 Listed $74,900 MLSNOW
• 2001-01-04 Sold (Public Records) $115,500 Public Records

Property tax history

+2.7%/yr

Latest (2025): $3,356 · -22.5% YoY. Source: county tax records.