14705 Alder Ave · East Cleveland, OH 44112

$61,500

5 bd · 1.5 ba · 1,334 sqft · SingleFamily public records · 71 Days on market

Built 1916 5,079 sqft lot $46/sqft · 37% above area Est $59k · 5% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.2/15.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to add value and finish this partially updated home in East Cleveland. Much of the heavy lifting has already been started, with finished walls and fresh neutral paint creating a clean, modern canvas throughout. The third floor is fully finished and offers additional livable space—ideal for a bonus room, office, or extra bedroom. The home also features a convenient half bathroom, updated light fixtures, and classic built-in cabinets in the dining room that add both charm and functionality. With no kitchen currently in place, this property is perfect for investors or buyers looking to customize and complete the renovation to their own specifications. Bring your vision and finish what’s been started—this property has strong upside potential. Sold as-is. Sold as is. This home is in Bankruptcy. Seller will not make any repairs to comply with finance transactions. Please use the seller addendum when submitting all offers. It is strongly encouraged to use the seller Title company. Seller will not turn on utilities for inspections.

Key facts

• 5,079 sq ft lot
• 2 garage spots
• Built 1916

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $58k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.2% vs local median 17.4% in East Cleveland — 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 66/100 on livability (#650 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools F, crime F, employment F.
• East Cleveland City School District (suburban): math 4% / reading 17% proficiency, ranked #652 of 656 in OH (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.2%/yr); 99 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $1,850/mo this rent would consume 77% of the median local household income ($29k/yr) (locally 1702% 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 $425 of loan paydown is wiped out by about $2k 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 + 5.2% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($58k) 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.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,810 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 3.01% ✓
• Cap rate: 26.16%
• Cash-on-cash: 70.97%
• DSCR: 4.16
• GRM: 2.8

CMA / ARV

• ARV (median comp): $58,517
• List price: $61,500
• Delta: 5.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1273 E 135th St	0.51mi	4/1.0 (-1)	1,256 (-6%)	3mo	$65,000	$52	57
13600 Graham Rd	0.72mi	5/1.0	1,380 (+3%)	10mo	$50,100	$36	50
1929 Taylor Rd	0.66mi	4/2.0 (-1)	1,344 (+1%)	15mo	$128,000	$95	48
1282 E 137th St	0.48mi	4/2.0 (-1)	1,440 (+8%)	16mo	$78,500	$55	44
1921 Taylor Rd	0.65mi	4/1.0 (-1)	1,258 (-6%)	16mo	$5,650	$4	40
1828 Noble Rd	0.59mi	4/1.5 (-1)	1,473 (+10%)	18mo	$99,000	$67	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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: 73.1%
• Equity multiple: 4.43×
• Total profit: $59,046
• Equity at exit: $9,170

10-year hold

• IRR: 77.5%
• Equity multiple: 9.87×
• Total profit: $152,715
• Equity at exit: $5,317

Cash invested: $17,220 (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 44112

• Rents YoY: 5.2%
• Active inventory: 99
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$323
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $1,018

Break-even live

Break-even rent $561

Max offer price $61,500

Occupancy floor 40%

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: $15,375
• Closing costs: $1,845
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14009 Mayfair Ave Unit 2 East Cleveland, OH	4.0	2.0	1144	$1,390	$1.22	44d	1	0.64mi
12819 Edmonton Ave Cleveland, OH	4.0	1.0	1423	$1,795	$1.26	16d	1	0.91mi
910 Dresden Rd Cleveland, OH	4.0	2.0	1839	$1,800	$0.98	16d	1	0.91mi
915 Nela View Rd Cleveland, OH	4.0	1.0	1300	$2,600	$2.00	16d	1	1.17mi
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	44d	1	1.26mi
963 Selwyn Rd Cleveland, OH	4.0	1.0	1300	$2,650	$2.04	2d	1	1.35mi
651 E 115th St Cleveland, OH	4.0	2.0	1550	$1,800	$1.16	21d	1	1.35mi
3430 Winsford Rd Cleveland, OH	4.0	1.5	1800	$1,590	$0.88	16d	1	1.35mi
3406 Henderson Rd Cleveland, OH	4.0	1.5	1343	$2,250	$1.68	16d	1	1.47mi

Listing history 34 events

1. 2026-06-18
   days on market $61,500 Active 71 DOM
2. 2026-06-17
   days on market $61,500 Active 70 DOM
3. 2026-06-16
   days on market $61,500 Active 69 DOM
4. 2026-06-15
   days on market $61,500 Active 68 DOM
5. 2026-06-13
   days on market $61,500 Active 66 DOM
6. 2026-06-13
   days on market $61,500 Active 65 DOM
7. 2026-06-09
   days on market $61,500 Active 62 DOM
8. 2026-06-08
   days on market $61,500 Active 61 DOM
9. 2026-06-07
   days on market $61,500 Active 60 DOM
10. 2026-06-05
    days on market $61,500 Active 57 DOM
11. 2026-06-03
    days on market $61,500 Active 56 DOM
12. 2026-06-02
    days on market $61,500 Active 55 DOM
13. 2026-06-01
    days on market $61,500 Active 54 DOM
14. 2026-05-31
    days on market $61,500 Active 53 DOM
15. 2026-03-31
    historical
16. 2026-03-30
    listed $61,500 Active 1075-char remark

    Show marketing remark (1075 chars)

    Great opportunity to add value and finish this partially updated home in East Cleveland. Much of the heavy lifting has already been started, with finished walls and fresh neutral paint creating a clean, modern canvas throughout. The third floor is fully finished and offers additional livable space—ideal for a bonus room, office, or extra bedroom. The home also features a convenient half bathroom, updated light fixtures, and classic built-in cabinets in the dining room that add both charm and functionality. With no kitchen currently in place, this property is perfect for investors or buyers looking to customize and complete the renovation to their own specifications. Bring your vision and finish what’s been started—this property has strong upside potential. Sold as-is. Sold as is. This home is in Bankruptcy. Seller will not make any repairs to comply with finance transactions. Please use the seller addendum when submitting all offers. It is strongly encouraged to use the seller Title company. Seller will not turn on utilities for inspections.

17. 2026-01-14
    price $61,500
18. 2025-12-01
    price $62,500
19. 2025-09-25
    price $64,500
20. 2025-08-02
    price $67,000
21. 2025-07-31
    listed $50,000 Active
22. 2008-10-29
    historical
23. 2008-05-30
    listed $2,700
24. 2008-01-28
    historical
25. 2007-08-23
    listed $5,400
26. 2007-07-13
    historical
27. 2007-06-30
    historical
28. 2007-06-13
    listed $14,900
29. 2006-10-20
    listed $15,000
30. 2006-10-03
    historical
31. 2006-07-03
    listed $29,900
32. 2003-12-29
    soldstatus $82,000
33. 2003-12-22
    historical
34. 2003-06-22
    listed $59,900

ⓘ 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: $1,140 · $95/mo
• Projected year-2 tax: $1,140 · $95/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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,201
• − Mortgage interest: −$3,445
• − Property taxes: −$1,140
• − Insurance: −$308
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$1,789
• Taxable income: $11,967
• Est. tax owed @ 24.0%: −$2,872
• After-tax cash flow: $9,349/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: East Cleveland City School District
• NCES district ID: 3904390
• Math proficiency: 4% ▼ -16.00%
• Reading proficiency: 17% ▼ -13.00%
• Median HH income: $22,726
• Composite: 7.38/100
• National rank: #9954
• State rank: #652 of 656 in OH

Livability — East Cleveland

• Score: 66/100
• State rank: #650
• US rank: #11510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Cleveland, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 17,848
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 17,848
• Household income: $28,799
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1702.0

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: Predominantly Black (89%)
• Race & ethnicity: Black 89% White 7% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 3% Spanish 2% 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: ▼ -115.61%
• Current HPI: 67.2162
• Rent YoY: ▲ 5.16%
• 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

+2.7% since first listed

20 events — show timeline

• 2026-03-31 Listing Removed — MLSNOW
• 2026-03-30 Listed $61,500 MLSNOW
• 2026-01-14 Price Changed $61,500 MLSNOW
• 2025-12-01 Price Changed $62,500 MLSNOW
• 2025-09-25 Price Changed $64,500 MLSNOW
• 2025-08-02 Price Changed $67,000 MLSNOW
• 2025-07-31 Listed $50,000 MLSNOW
• 2008-10-29 Listing Removed — MLSNOW
• 2008-05-30 Listed $2,700 MLSNOW
• 2008-01-28 Listing Removed — MLSNOW
• 2007-08-23 Listed $5,400 MLSNOW
• 2007-07-13 Listing Removed — MLSNOW
• 2007-06-30 Listing Removed — MLSNOW
• 2007-06-13 Listed $14,900 MLSNOW
• 2006-10-20 Listed $15,000 MLSNOW
• 2006-10-03 Listing Removed — MLSNOW
• 2006-07-03 Listed $29,900 MLSNOW
• 2003-12-29 Sold (Public Records) $82,000 Public Records
• 2003-12-22 Listing Removed — MLSNOW
• 2003-06-22 Listed $59,900 MLSNOW

Property tax history

-0.5%/yr

Latest (2025): $1,140 · +0.0% YoY. Source: county tax records.