20101 Tracy Ave · Euclid, OH 44123

$139,900

4 bd · 2.0 ba · 1,944 sqft · MultiFamily public records · 57 Days on market

Built 1925 4,961 sqft lot Est $175k · 20% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• 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

Many Possibilities Here! Easy-to-rent Area With Quick Access To Freeway And Bus Lines. Currently Used As A Single Family, Home Is A Double, Per City. Up Unit Has Access To Attic Which Could Provide More Bedrooms. Home Needs Work. Buyer To Assume All City Violations. Needs Sold Now!

Key facts

• Kitchen with stove
• Unfinished attic
• 4,961 sq ft lot

Tags

• COLONIAL STYLE DUPLEX
• UNFINISHED ATTIC
• SHARED UNFINISHED BASEMENT
• WASHER AND DRYER HOOKUPS
• LUXURY VINYL PLANK FLOORING
• KITCHEN WITH STOVE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $814 ($10k/yr) — positive. Per door: $407/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 6.7% in Euclid — 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 77/100 on livability (#204 in OH, #3,149 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: commute F, employment D-.
• Euclid City (suburban): math 14% / reading 28% proficiency, ranked #625 of 656 in OH (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Arbor Elementary School (math 17% / reading 28%, grade F, #1,239 of 1,584 statewide, top 78%, 370 students, 0% FRL); Euclid Middle School (math 10% / reading 22%, grade F, #624 of 654 statewide, top 96%, 934 students, 0% FRL); Euclid High School (math 7% / reading 33%, grade F, #675 of 781 statewide, top 87%, 1,618 students, 0% FRL) — zoned schools average 0% FRL vs 70% district-wide (70 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.3%/yr); 96 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,387/mo this rent would consume 51% of the median local household income ($56k/yr) (locally 1085% 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 $967 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.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y ago; this cycle's ask is 14626% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $86k; list at $140k implies a 63% 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 $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1925 — 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. 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.
7. 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.
8. 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: 1.71% ✓
• Cap rate: 13.28%
• Cash-on-cash: 24.94%
• DSCR: 2.11
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $174,960
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20520 Ball Ave	0.23mi	4/2.0	1,988 (+2%)	10mo	$162,000	$81	77
386 E 200th St	0.10mi	4/2.0	2,040 (+5%)	14mo	$220,000	$108	75
324 E 200th St	0.23mi	4/2.0	1,944 (0%)	21mo	$175,000	$90	72
18751 Monterey Ave	0.49mi	4/2.0	1,976 (+2%)	11mo	$173,000	$88	65
19000 Lakeshore Blvd	0.40mi	4/2.0	2,052 (+6%)	22mo	$220,000	$107	54
21370 Milan Dr	0.53mi	4/3.0	2,128 (+10%)	10mo	$200,000	$94	47
20572 Lindbergh Ave	0.52mi	5/2.0 (+1)	1,716 (-12%)	19mo	$120,000	$70	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 · 5.28% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 1.89×
• Total profit: $34,891
• Equity at exit: $20,860

10-year hold

• IRR: 30.9%
• Equity multiple: 4.11×
• Total profit: $121,648
• Equity at exit: $12,096

Cash invested: $39,172 (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 44123

• Home prices YoY: -25.0%
• Rents YoY: 5.3%
• Active inventory: 96
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,387 high
• Mortgage (P&I): −$734
• Tax from tax record: −$280 /mo · $3,354/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $814

Break-even live

Break-even rent $1,356

Max offer price $139,900

Occupancy floor 61%

Sensitivity live

Price	-10% $893	-5% $854	+0% $814	+5% $775	+10% $735
Rent	-10% $626	-5% $720	+0% $814	+5% $909	+10% $1,003
Rate	-1.0pp $885	-0.5pp $850	base $814	+0.5pp $778	+1.0pp $741

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,386
Total (2 units)			$2,387

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
299 E 197th St Cleveland, OH	4.0	2.0	1328	$1,400	$1.05	18d	1	0.26mi
19450 Monterey Ave Cleveland, OH	5.0	1.5	1800	$1,690	$0.94	6d	1	0.30mi
20547 Fuller Ave Euclid, OH	5.0	3.0	1600	$1,800	$1.12	18d	1	0.32mi
19330 Monterey Ave Cleveland, OH	4.0	1.5	1578	$1,450	$0.92	3d	1	0.33mi
20500 Priday Ave Euclid, OH	4.0	1.5	1698	$1,750	$1.03	46d	1	0.34mi
21271 Nicholas Ave Euclid, OH	3.0	2.0	1300	$1,689	$1.30	45d	1	0.41mi
18800 Pasnow Ave Cleveland, OH	3.0	1.0	1348	$1,350	$1.00	18d	1	0.42mi
21000 Crystal Ave Euclid, OH	5.0	2.0	1512	$2,150	$1.42	19d	1	0.49mi
21251 S Lake Shore Blvd Euclid, OH	3.0	2.0	1246	$1,595	$1.28	45d	1	0.60mi
21980 Ivan Ave Euclid, OH	4.0	2.0	1348	$1,350	$1.00	45d	1	0.63mi
26200 S Lake Shr Euclid, OH	3.0	1.5	1305	$1,225	$0.94	9d	1	0.82mi
21860 Roberts Ave Euclid, OH	3.0	1.0	1253	$1,450	$1.16	9d	1	0.85mi
797 Babbitt Rd #22 Euclid, OH	3.0	1.5	1360	$1,600	$1.18	45d	1	1.30mi
23214 Gay St Euclid, OH	3.0	1.0	1634	$1,864	$1.14	25d	1	1.43mi
23901 Puritan Rd Euclid, OH	3.0	1.0	1326	$1,595	$1.20	16d	1	1.44mi
655 E 240th St Euclid, OH	3.0	1.0	1341	$1,550	$1.16	45d	1	1.44mi

Listing history 24 events

1. 2026-04-28
   status Pending
2. 2026-01-29
   status Pending
3. 2026-01-22
   price $139,900
4. 2026-01-20
   status Active
5. 2026-01-07
   status Pending
6. 2025-11-28
   historical $950
7. 2025-11-21
   listed $950
8. 2025-11-21
   historical $950
9. 2025-11-20
   listed $950
10. 2025-11-20
    historical $950
11. 2025-11-20
    listed $149,000 Active
12. 2025-10-09
    listed $950
13. 2025-09-22
    historical $950
14. 2025-08-02
    listed $950
15. 2025-08-02
    historical $1,000
16. 2025-07-27
    price $1,000
17. 2025-07-05
    listed $1,050
18. 2025-03-16
    historical $950
19. 2025-02-15
    listed $950
20. 2023-09-11
    historical $850
21. 2023-08-18
    listed $850
22. 2004-04-13
    soldstatus $86,000 282-char remark

    Show marketing remark (282 chars)

    Many Possibilities Here! Easy-to-rent Area With Quick Access To Freeway And Bus Lines. Currently Used As A Single Family, Home Is A Double, Per City. Up Unit Has Access To Attic Which Could Provide More Bedrooms. Home Needs Work. Buyer To Assume All City Violations. Needs Sold Now!

23. 2004-04-13
    soldstatus $86,000

    Show marketing remark (282 chars)

    Many Possibilities Here! Easy-to-rent Area With Quick Access To Freeway And Bus Lines. Currently Used As A Single Family, Home Is A Double, Per City. Up Unit Has Access To Attic Which Could Provide More Bedrooms. Home Needs Work. Buyer To Assume All City Violations. Needs Sold Now!

24. 2003-12-16
    listed $89,900 282-char remark

    Show marketing remark (282 chars)

    Many Possibilities Here! Easy-to-rent Area With Quick Access To Freeway And Bus Lines. Currently Used As A Single Family, Home Is A Double, Per City. Up Unit Has Access To Attic Which Could Provide More Bedrooms. Home Needs Work. Buyer To Assume All City Violations. Needs Sold Now!

ⓘ 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: $3,354 · $280/mo
• Projected year-2 tax: $3,354 · $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 3/10 Moderate 7 d/yr ≥94°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: $28,644
• − Mortgage interest: −$7,837
• − Property taxes: −$3,354
• − Insurance: −$700
• − Repairs & maintenance: −$2,292
• − Management: −$2,292
• − Depreciation: −$4,070
• Taxable income: $8,101
• Est. tax owed @ 24.0%: −$1,944
• After-tax cash flow: $7,827/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: Euclid City
• NCES district ID: 3904395
• Math proficiency: 14% ▼ -19.00%
• Reading proficiency: 28% ▼ -14.00%
• Median HH income: $36,385
• Composite: 17.39/100
• National rank: #9067
• State rank: #625 of 656 in OH

Livability — Euclid

• Score: 77/100
• State rank: #204
• US rank: #3149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Euclid, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 41,855
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 18,050
• Household income: $55,676
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 1085.0

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: Majority Black (65%)
• Race & ethnicity: Black 65% White 28% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Romanian 5%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Chinese 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: ▼ -62.82%
• Current HPI: 188.4932
• Rent YoY: ▲ 5.28%
• 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

+55.6% since first listed

24 events — show timeline

• 2026-04-28 Pending — MLSNOW
• 2026-01-29 Pending — MLSNOW
• 2026-01-22 Price Changed $139,900 MLSNOW
• 2026-01-20 Relisted — MLSNOW
• 2026-01-07 Pending — MLSNOW
• 2025-11-28 Rental Removed $950 RENTALBEAST
• 2025-11-21 Listed for Rent $950 RENTALBEAST
• 2025-11-21 Rental Removed $950 RENTALBEAST
• 2025-11-20 Listed for Rent $950 RENTALBEAST
• 2025-11-20 Rental Removed $950 BUILDIUM
• 2025-11-20 Listed $149,000 MLSNOW
• 2025-10-09 Listed for Rent $950 BUILDIUM
• 2025-09-22 Rental Removed $950 BUILDIUM
• 2025-08-02 Listed for Rent $950 BUILDIUM
• 2025-08-02 Rental Removed $1,000 RENTALBEAST
• 2025-07-27 Price Changed $1,000 RENTALBEAST
• 2025-07-05 Listed for Rent $1,050 RENTALBEAST
• 2025-03-16 Rental Removed $950 RENTALBEAST
• 2025-02-15 Listed for Rent $950 RENTALBEAST
• 2023-09-11 Rental Removed $850 BUILDIUM
• 2023-08-18 Listed for Rent $850 BUILDIUM
• 2004-04-13 Sold (Public Records) $86,000 Public Records
• 2004-04-13 Sold (MLS) $86,000 MLSNOW
• 2003-12-16 Listed $89,900 MLSNOW

Property tax history

+5.5%/yr

Latest (2025): $3,354 · -2.8% YoY. Source: county tax records.