3574 Daleford Rd · Shaker Heights, OH 44120

$198,800

4 bd · 2.0 ba · 2,268 sqft · MultiFamily public records · 7 Days on market

Built 1923 4,791 sqft lot $88/sqft · 15% below area Est $233k · 15% under

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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
• ARV discount +14.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +4.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 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

Lots Of Potential * * Two Family With Basement And Two Car Detached Garage * * A Pre-approval Letter Must Be Submitted With All Offers * *

Key facts

• Decorative fireplace
• Wood floors
• Stove

Tags

• DECORATIVE FIREPLACE
• WOOD FLOORS
• FULL-SIZE KITCHEN
• REFRIGERATOR
• STOVE
• MICROWAVE

Property features AI

Finance

• Financial info: Owner pays sewer, trash collection, and water; tenants pay electricity and gas

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single building (multi-unit); Above-grade finished area approximately 2,268 (source: assessor)
• Construction: Frame construction; Asphalt/fiberglass roof
• Exterior features: Lot recorded at 0.11 acres

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 10 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Common full basement
• Laundry & utility: Common area laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.8-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $822 ($10k/yr) — positive. Per door: $411/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Cap rate 11.3% vs local median 2.5% in Shaker 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 89/100 on livability (#15 in OH, #134 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities F.
• Shaker Heights City (suburban): math 50% / reading 63% proficiency, ranked #309 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.3%/yr); 125 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,228/mo this rent would consume 82% of the median local household income ($47k/yr) (locally 2289% 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 $1k of loan paydown is wiped out by about $6k 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 + 3.3% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $79k; list at $199k implies a 151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $198,800

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 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.62% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.72%
• DSCR: 1.79
• GRM: 5.1

CMA / ARV

• ARV (median comp): $232,966
• List price: $198,800
• Delta: -14.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3550 Daleford Rd	0.04mi	4/3.0	2,268 (0%)	4mo	$342,500	$151	91
3566 Daleford Rd	0.01mi	4/2.0	2,268 (0%)	19mo	$187,000	$82	83
17624 Winslow Rd	0.23mi	4/3.0	2,268 (0%)	11mo	$270,000	$119	76
3643 Lindholm Rd	0.29mi	4/3.0	2,368 (+4%)	8mo	$100,000	$42	69
3619 Strathavon Rd	0.17mi	4/3.5	2,280 (+0%)	22mo	$220,000	$96	67
3625 Ingleside Rd	0.18mi	4/2.0	2,377 (+5%)	22mo	$217,500	$92	65
3653 Hildana Rd	0.54mi	4/2.0	2,110 (-7%)	1mo	$102,000	$48	62
3541 Daleford Rd	0.07mi	4/2.0	2,608 (+15%)	14mo	$205,000	$79	60
3713 Menlo Rd	0.74mi	4/2.0	2,166 (-4%)	12mo	$65,000	$30	48
3654 Hildana Rd	0.58mi	4/2.0	2,454 (+8%)	20mo	$200,000	$81	43
3638 Menlo Rd	0.74mi	4/2.0	2,554 (+13%)	6mo	$133,000	$52	39
18705 Newell Rd	0.54mi	4/3.5	2,472 (+9%)	21mo	$252,500	$102	36

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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.39×
• Total profit: $21,500
• Equity at exit: $29,642

10-year hold

• IRR: 19.3%
• Equity multiple: 2.65×
• Total profit: $91,778
• Equity at exit: $17,189

Cash invested: $55,664 (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 44120

• Rents YoY: 3.3%
• Active inventory: 125
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,228 high
• Mortgage (P&I): −$1,043
• Tax from tax record: −$603 /mo · $7,236/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$678
• Net cashflow: $822

Break-even live

Break-even rent $2,188

Max offer price $198,800

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.8	$3,228
Total (2 units)			$3,228

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: $49,700
• Closing costs: $5,964
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3579 Riedham Rd Unit Up Shaker Heights, OH	4.0	2.0	1648	$1,600	$0.97	43d	1	0.10mi
3524 Daleford Rd Cleveland, OH	3.0	1.0	1700	$2,200	$1.29	16d	1	0.12mi
16818 Kenyon Rd Unit 2 Shaker Heights, OH	4.0	1.0	1900	$1,900	$1.00	4d	1	0.21mi
17424 Winslow Rd Cleveland, OH	4.0	2.0	1995	$2,200	$1.10	16d	1	0.23mi
3634 Glencairn Rd Shaker Heights, OH	4.0	1.0	1612	$1,750	$1.09	23d	1	0.32mi
3636 Glencairn Rd Unit 2 Shaker Heights, OH	4.0	1.0	1612	$1,750	$1.09	23d	1	0.32mi
3601 Glencairn Rd Shaker Heights, OH	3.0	1.5	1890	$1,500	$0.79	43d	1	0.34mi
18314 Chagrin Blvd Unit 1 Shaker Heights, OH	3.0	2.0	1670	$1,600	$0.96	17d	1	0.38mi
3578 Latimore Rd Shaker Heights, OH	3.0	1.5	2113	$2,200	$1.04	1d	1	0.43mi
3710 Sudbury Rd Cleveland, OH	4.0	1.5	1665	$1,900	$1.14	43d	1	0.49mi
3653 Winchell Rd Unit 2 Shaker Heights, OH	5.0	3.0	1775	$2,350	$1.32	43d	1	0.54mi
3614 Lynnfield Rd Shaker Heights, OH	4.0	2.0	1584	$1,450	$0.92	16d	1	0.56mi
3665 Lynnfield Rd Unit UP Shaker Heights, OH	4.0	2.0	1600	$1,849	$1.16	43d	1	0.61mi
18801 Invermere Ave Cleveland, OH	3.0	2.5	2134	$2,200	$1.03	1d	1	0.68mi
19406 Wickfield Ave Warrensville Heights, OH	3.0	1.5	1934	$2,650	$1.37	1d	1	0.87mi
19601 Van Aken Blvd Shaker Heights, OH	1.0–4.0	1.0–4.0	1977	$4,400	$2.23	21d	1	0.93mi
2975 Claremont Rd Shaker Heights, OH	5.0	3.0	3241	$3,200	$0.99	11d	1	1.05mi
20005 Farnsleigh Rd Shaker Heights, OH	1.0–3.0	1.0–3.5	1407	$7,815	$5.55	1d	8	1.07mi

Listing history 11 events

1. 2026-05-18
   status Pending 589-char remark
2. 2026-05-08
   listed $198,800 Active 589-char remark
3. 2024-02-09
   historical $975
4. 2024-01-24
   listed $975
5. 2023-10-31
   historical $1,050
6. 2023-09-30
   price $1,050
7. 2020-09-04
   soldstatus $79,082
8. 2008-02-15
   soldstatus $54,000 141-char remark

   Show marketing remark (141 chars)

   Lots Of Potential * * Two Family With Basement And Two Car Detached Garage * * A Pre-approval Letter Must Be Submitted With All Offers * *

9. 2007-09-17
   listed $59,900 141-char remark

   Show marketing remark (141 chars)

   Lots Of Potential * * Two Family With Basement And Two Car Detached Garage * * A Pre-approval Letter Must Be Submitted With All Offers * *

10. 2005-02-03
    soldstatus $180,000
11. 1994-06-24
    soldstatus $90,000

ⓘ 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: $7,236 · $603/mo
• Projected year-2 tax: $7,236 · $603/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 · 16 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: $38,736
• − Mortgage interest: −$11,136
• − Property taxes: −$7,236
• − Insurance: −$994
• − Repairs & maintenance: −$3,099
• − Management: −$3,099
• − Depreciation: −$5,783
• Taxable income: $7,389
• Est. tax owed @ 24.0%: −$1,773
• After-tax cash flow: $8,088/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: Shaker Heights City
• NCES district ID: 3904475
• Math proficiency: 50% ▼ -16.00%
• Reading proficiency: 63% ▼ -6.00%
• Median HH income: $69,421
• Composite: 49.98/100
• National rank: #1928
• State rank: #309 of 656 in OH

Livability — Shaker Heights

• Score: 89/100
• State rank: #15
• US rank: #134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shaker Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 69,880
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 33,202
• Household income: $47,126
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 2289.0

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 (68%)
• Race & ethnicity: Black 68% White 21% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 5% · China, Canada
• Languages at home: 93% English-only · Spanish 2% Chinese 1% Other Indo-European 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: ▼ -201.50%
• Current HPI: 108.2487
• Rent YoY: ▲ 3.34%
• 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

+120.9% since first listed

11 events — show timeline

• 2026-05-18 Pending — MLSNOW
• 2026-05-08 Listed $198,800 MLSNOW
• 2024-02-09 Rental Removed $975 BUILDIUM
• 2024-01-24 Listed for Rent $975 BUILDIUM
• 2023-10-31 Rental Removed $1,050 YESMLS
• 2023-09-30 Price Changed $1,050 YESMLS
• 2020-09-04 Sold (Public Records) $79,082 Public Records
• 2008-02-15 Sold (MLS) $54,000 MLSNOW
• 2007-09-17 Listed $59,900 MLSNOW
• 2005-02-03 Sold (Public Records) $180,000 Public Records
• 1994-06-24 Sold (Public Records) $90,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $7,236 · +13.2% YoY. Source: county tax records.