12624 Southern Ave · Garfield Heights, OH 44125

$125,000

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 5 Days on market

Built 1951 5,227 sqft lot Est $106k · 18% over

---

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).

• Cash flow +21.6/30.0
• DSCR +6.9/10.0
• 1% rule +6.4/10.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wow!! Why pay rent, when you can have a piece of the American dream by owning your own home, for less money then rent. Beautiful hardwood floors through out this well maintained home. This ranch style home features two good size bedrooms. Your eating area is just off the kitchen, which includes recently installed cabinetry for extra storage. Replacement windows are energy efficient and this home also has central air conditioning. Updated electrical box in 2010 in the finished lower level. Other features are updated bathroom, good sizes living room to relax in. Oversized one car garage with electricity available. Home has great curb appeal, why wait everything is here for your enjoyment. Close to freeways hospital, shopping and schools. Violation Free!

Key facts

• Brand-new roof
• Single-floor living
• 5,227 sq ft lot

Tags

• SINGLE-FLOOR LIVING
• ORIGINAL HARDWOOD FLOORS
• BRAND-NEW ROOF
• NEWER CENTRAL AIR CONDITIONING
• PARTIALLY FINISHED BASEMENT
• LOWER-LEVEL HALF BATH

Property features AI

Finance

• HOA & community: Community amenities include common grounds, sidewalks, curbs, street lights; On-site community features: fitness center, laundry facilities, playground, park, pool; Nearby services: medical service, restaurant, shopping; Suburban neighborhood

Exterior

• Parking: Attached garage (1 car) with garage door opener; Drive-through access; Electric outlet in garage; Garage faces rear; On-street parking available; Lighted parking area
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Single-story home; Aluminum siding and concrete construction; Shingle/asphalt/aluminum/fiberglass roof; Foundation: combination with concrete perimeter
• Construction: Built according to public records (year built source: public records)
• Exterior features: Front porch; Private entrance; Private yard; Exterior lighting; Vinyl fencing; Landscaped yard with few trees; Back yard; Located on a dead-end street

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: Two main-level bedrooms; Additional bedroom(s) on lower or other levels (basement partially finished)
• Flooring: Hardwood in main living areas and bedrooms; Tile in kitchen and one bathroom; Concrete flooring in basement areas and laundry
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Central air conditioning; Ceiling fans for additional cooling; Forced air heating (gas)
• Interior features: Insulated windows; Built-in features; Ceiling fans; Storage
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry inside the unit on the lower level / in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 8.1% vs local median 6.8% in Garfield Heights — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#593 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, crime D-, amenities F.
• Garfield Heights City Schools (suburban): math 8% / reading 22% proficiency, ranked #643 of 656 in OH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.8%/yr); 125 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $864 of loan paydown is wiped out by about $4k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 17y 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 $55k; list at $125k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1951 — 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. 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?
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: 1.14% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $105,984
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12324 Southern Ave	0.14mi	2/1.0	736 (0%)	5mo	$106,000	$144	90
12521 Park Knoll Dr	0.18mi	2/1.0	736 (0%)	9mo	$95,000	$129	84
12329 Garland Ave	0.18mi	2/2.0	736 (0%)	15mo	$102,000	$139	75
5032 E 110th St	0.70mi	2/1.0	748 (+2%)	6mo	$115,000	$154	60
5380 E 131st St	0.53mi	2/1.0	816 (+11%)	2mo	$150,000	$184	56
5117 E 117th St	0.39mi	3/1.5 (+1)	783 (+6%)	16mo	$150,000	$192	50
5364 E 131st St	0.49mi	3/1.0 (+1)	816 (+11%)	12mo	$105,000	$129	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 · 4.8% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-5,506
• Equity at exit: $18,638

10-year hold

• IRR: 7.7%
• Equity multiple: 1.63×
• Total profit: $22,143
• Equity at exit: $10,808

Cash invested: $35,000 (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 44125

• Rents YoY: 4.8%
• Active inventory: 125
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,419 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$224 /mo · $2,689/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $190

Break-even live

Break-even rent $1,179

Max offer price $125,000

Occupancy floor 82%

Sensitivity live

Price	-10% $260	-5% $225	+0% $190	+5% $154	+10% $119
Rent	-10% $77	-5% $133	+0% $190	+5% $246	+10% $302
Rate	-1.0pp $252	-0.5pp $221	base $190	+0.5pp $157	+1.0pp $124

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5032 E 110th St Cleveland, OH	2.0	1.0	748	$1,395	$1.86	15d	1	0.68mi
5032 E 110th St Cleveland, OH	2.0	1.0	748	$1,395	$1.86	13d	1	0.68mi
4639 E 131st St Garfield Heights, OH	1.0–2.0	1.0	545	$1,190	$2.18	5d	8	0.84mi
15409 Benhoff Dr Maple Heights, OH	3.0	1.0	728	$1,800	$2.47	2d	1	1.49mi

Listing history 5 events

1. 2026-06-15
   status $125,000 Pending 5 DOM
2. 2026-06-13
   days on market $125,000 Active 5 DOM
3. 2026-06-13
   days on market $125,000 Active 4 DOM
4. 2026-06-08
   remarks 699-char remark
5. 2026-06-08
   listed $125,000 Active 1 DOM

ⓘ 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: $2,689 · $224/mo
• Projected year-2 tax: $2,689 · $224/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: $17,030
• − Mortgage interest: −$7,002
• − Property taxes: −$2,689
• − Insurance: −$625
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$3,636
• Taxable income: $354
• Est. tax owed @ 24.0%: −$85
• After-tax cash flow: $2,189/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: Garfield Heights City Schools
• NCES district ID: 3904404
• Math proficiency: 8% ▼ -19.00%
• Reading proficiency: 22% ▼ -18.00%
• Median HH income: $41,334
• Composite: 12.88/100
• National rank: #9590
• State rank: #643 of 656 in OH

Livability — Garfield Heights

• Score: 67/100
• State rank: #593
• US rank: #10152

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garfield Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 29,461
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 29,461
• Household income: $57,363
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 1738.0

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 0.61)
• Race & ethnicity: Black 47% White 41% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 11% Slovak 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -116.98%
• Current HPI: 155.1507
• Rent YoY: ▲ 4.80%
• 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

+127.7% since first listed

13 events — show timeline

• 2026-06-08 Listed $125,000 MLSNOW
• 2018-12-26 Sold (Public Records) $55,000 Public Records
• 2018-12-26 Sold (MLS) $55,000 MLSNOW
• 2018-11-20 Contingent — MLSNOW
• 2018-11-13 Relisted — MLSNOW
• 2018-10-31 Contingent — MLSNOW
• 2018-10-25 Listed $60,000 MLSNOW
• 2018-10-22 Listing Removed — MLSNOW
• 2018-10-11 Listed $62,000 MLSNOW
• 2010-04-06 Sold (Public Records) $50,000 Public Records
• 2010-04-05 Sold (MLS) $50,000 MLSNOW
• 2010-02-07 Listing Removed — MLSNOW
• 2009-08-07 Listed $54,900 MLSNOW

Property tax history

+3.0%/yr

Latest (2025): $2,689 · -19.1% YoY. Source: county tax records.