663 Babbitt Rd · Euclid, OH 44123

$259,900

6 bd · 2.0 ba · 2,940 sqft · MultiFamily public records · 12 Days on market

Built 1959 5,880 sqft lot $88/sqft · 30% above area Est $200k · 30% 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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +6.3/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Great opportunity to own fully occupied, brick, side-by-side multi-family with strong cash-flow. Each unit is rented and offers 3 bedrooms, 1 1/2 baths, individual basements and fully separate gas and electric. Owner pays only water/sewer! Both furnaces are new as of 2007; new central air (2007); new roof in 2007 (tear-off). All new glass block in 2010! Recently rented unit has all newer vinyl windows, updated bathroom, fully refinished hardwood floors throughout, and is freshly repainted. Current auditor taxes do not reflect the recent tax reduction. Point of Sale to be ordered with acceptable offer and seller to correct violations. Current rent income is $1542/month!

Key facts

• All brick duplex
• Separate basements
• In-unit hvac units

Tags

• ALL BRICK DUPLEX
• SEPARATE BASEMENTS
• DETACHED 2 CAR GARAGE
• IN-UNIT HVAC UNITS
• HARDWOOD FLOORS
• FULL CENTRAL AIR CONDITIONED

Property features AI

Finance

• Financial info: Gross income: $36,135 (multi-unit); Operating expenses: $8,530 (multi-unit); Owner pays: insurance, sewer, taxes, water; Tenant pays: electricity, gas, internet, snow removal
• HOA & community: Community offers golf, lake access, playgrounds, parks, restaurants, shopping, street lights and sidewalks; Nearby medical services

Exterior

• Parking: Detached garage; 2 garage spaces; Off-street parking; Concrete parking; Common parking areas
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service (tenant pays); Gas service (tenant pays); Internet (tenant pays)
• Home design: 2 stories; Faces west
• Construction: Brick construction; Asphalt/fiberglass roof; Block foundation; Built (year per assessor)
• Exterior features: Back yard; City lot; Chain link fencing; Public sewer; Public water; Has view

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Basement present (full, unfinished)
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Blinds; Double-pane windows; Window screens; Smoke detector(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry room in basement; Laundry chute; Laundry tub; Sink; In-unit laundry

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Cap rate 9.1% vs local median 6.8% 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: schools C-, 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.
• Market conditions: Rents rising fast (+5.3%/yr); 93 active listings in the ZIP; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,947/mo this rent would consume 64% 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 $2k of loan paydown is wiped out by about $8k 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 $73k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 35y 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.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.13% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.94%
• DSCR: 1.44
• GRM: 7.3

CMA / ARV

• ARV (median comp): $200,000
• List price: $259,900
• Delta: 29.95%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
663 Babbitt Rd	0.00mi	6/3.0	2,940 (0%)	0mo	$265,000	$90	96
673 Babbitt Rd	0.03mi	6/2.0	3,252 (+11%)	16mo	$239,000	$73	67
836 E 236th St	0.34mi	5/3.0 (-1)	2,900 (-1%)	8mo	$205,000	$71	66

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $3,191
• Equity at exit: $38,752

10-year hold

• IRR: 12.9%
• Equity multiple: 2.13×
• Total profit: $81,945
• Equity at exit: $22,471

Cash invested: $72,772 (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: 93
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $2,947 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$254 /mo · $3,050/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $603

Break-even live

Break-even rent $2,184

Max offer price $259,900

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$2,948
Total (2 units)			$2,947

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-05-13
   status Pending 1207-char remark
2. 2026-05-01
   listed $259,900 Active 1207-char remark
3. 2013-02-08
   soldstatus $75,000 677-char remark

   Show marketing remark (677 chars)

   Great opportunity to own fully occupied, brick, side-by-side multi-family with strong cash-flow. Each unit is rented and offers 3 bedrooms, 1 1/2 baths, individual basements and fully separate gas and electric. Owner pays only water/sewer! Both furnaces are new as of 2007; new central air (2007); new roof in 2007 (tear-off). All new glass block in 2010! Recently rented unit has all newer vinyl windows, updated bathroom, fully refinished hardwood floors throughout, and is freshly repainted. Current auditor taxes do not reflect the recent tax reduction. Point of Sale to be ordered with acceptable offer and seller to correct violations. Current rent income is $1542/month!

4. 2013-02-07
   soldstatus $75,000
5. 2012-11-25
   listed $88,971 677-char remark

   Show marketing remark (677 chars)

   Great opportunity to own fully occupied, brick, side-by-side multi-family with strong cash-flow. Each unit is rented and offers 3 bedrooms, 1 1/2 baths, individual basements and fully separate gas and electric. Owner pays only water/sewer! Both furnaces are new as of 2007; new central air (2007); new roof in 2007 (tear-off). All new glass block in 2010! Recently rented unit has all newer vinyl windows, updated bathroom, fully refinished hardwood floors throughout, and is freshly repainted. Current auditor taxes do not reflect the recent tax reduction. Point of Sale to be ordered with acceptable offer and seller to correct violations. Current rent income is $1542/month!

6. 2009-04-02
   soldstatus $79,000

   Show marketing remark (178 chars)

   Many Upgrades. Newer Roof. Unit 2 Has Remodeled Kitchen And Windows. New Furnaces And Air Conditioners In Both Units. Fully Rented. Section 8 Approved And Inspected. Money Maker.

7. 2009-04-01
   soldstatus $79,000
8. 2008-11-24
   listed $69,000

   Show marketing remark (178 chars)

   Many Upgrades. Newer Roof. Unit 2 Has Remodeled Kitchen And Windows. New Furnaces And Air Conditioners In Both Units. Fully Rented. Section 8 Approved And Inspected. Money Maker.

9. 2007-08-31
   historical
10. 2007-06-30
    historical
11. 2007-06-08
    historical
12. 2007-02-13
    listed $169,900
13. 2006-12-07
    listed $159,000
14. 2006-06-14
    listed $169,000
15. 2005-12-09
    historical
16. 2005-06-09
    listed $189,900
17. 2005-04-08
    soldstatus $150,000
18. 1991-12-06
    soldstatus $115,000
19. 1991-12-06
    soldstatus $115,000
20. 1991-07-18
    listed $124,900

ⓘ 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: $3,050 · $254/mo
• Projected year-2 tax: $3,552 · $296/mo
• Expected delta: +$502/yr (+$42/mo · 16.5%)

ⓘ 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: $35,364
• − Mortgage interest: −$14,558
• − Property taxes: −$3,050
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,829
• − Management: −$2,829
• − Depreciation: −$7,561
• Taxable income: $3,238
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $6,456/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

+112.2% since first listed

21 events — show timeline

• 2026-06-12 Sold (MLS) $265,000 MLSNOW
• 2026-05-13 Pending — MLSNOW
• 2026-05-01 Listed $259,900 MLSNOW
• 2013-02-08 Sold (MLS) $75,000 MLSNOW
• 2013-02-07 Sold (Public Records) $75,000 Public Records
• 2012-11-25 Listed $88,971 MLSNOW
• 2009-04-02 Sold (MLS) $79,000 MLSNOW
• 2009-04-01 Sold (Public Records) $79,000 Public Records
• 2008-11-24 Listed $69,000 MLSNOW
• 2007-08-31 Listing Removed — MLSNOW
• 2007-06-30 Listing Removed — MLSNOW
• 2007-06-08 Listing Removed — MLSNOW
• 2007-02-13 Listed $169,900 MLSNOW
• 2006-12-07 Listed $159,000 MLSNOW
• 2006-06-14 Listed $169,000 MLSNOW
• 2005-12-09 Listing Removed — MLSNOW
• 2005-06-09 Listed $189,900 MLSNOW
• 2005-04-08 Sold (Public Records) $150,000 Public Records
• 1991-12-06 Sold (Public Records) $115,000 Public Records
• 1991-12-06 Sold (MLS) $115,000 MLSNOW
• 1991-07-18 Listed $124,900 MLSNOW

Property tax history

+1.6%/yr

Latest (2025): $3,050 · -3.1% YoY. Source: county tax records.