1259 Donald Ave · Lakewood, OH 44107

$350,000

4 bd · 2.0 ba · 2,364 sqft · MultiFamily public records · 5 Days on market

Built 1917 4,791 sqft lot Est $352k · at est.

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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 +12.6/30.0
• ARV discount +7.8/15.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• 1% rule +4.2/10.0
• Rent growth +3.8/5.0
• DSCR +3.7/10.0
• 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

Sold Before Print - Amazing opportunity in Lakewood for an updated multi-unit with tons of space throughout! Each unit offers 2 bedrooms and 1 full bath plus a bonus room and a finished third floor! Great location with convenient access to everything!

Key facts

• Kitchen appliances
• Fully rented duplex
• Washer and dryer set

Tags

• FULLY RENTED DUPLEX
• BRIGHT SUNROOM
• SPACIOUS THIRD-FLOOR BEDROOM
• KITCHEN APPLIANCES
• CENTRAL AIR CONDITIONING
• WASHER AND DRYER SET

Property features AI

Finance

• Financial info: Owner pays water and sewer; tenant pays electricity and gas

Exterior

• Parking: Detached paved garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single building on the lot
• Construction: Vinyl siding; Asphalt fiberglass roof; Built per public records
• Exterior features: Property faces west; Lot recorded as 0.11 acres

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Full, unfinished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $-48 ($-572/yr) — negative. Per door: $-24/mo.
• To cash-flow at today's rent, offer at most $342k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $320k (8.4% below list).
• Recommended offer: $320k (8.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.6% in Lakewood — 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 88/100 on livability (#29 in OH, #249 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Lakewood City (suburban): math 60% / reading 71% proficiency, ranked #213 of 656 in OH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Emerson Elementary School (math 67% / reading 62%, grade B, #522 of 1,584 statewide, top 36%, 335 students, 38% FRL); Garfield Middle School (math 55% / reading 62%, grade B, #287 of 654 statewide, top 45%, 454 students, 45% FRL); Lakewood High School (math 32% / reading 64%, grade D, #429 of 781 statewide, top 55%, 1,382 students, 30% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 204 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,205/mo this rent would consume 56% of the median local household income ($69k/yr) (locally 2271% 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 $10k 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 7y 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 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $320,500 (8.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1917 — 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. 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. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $352,236
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1259 Donald Ave	0.00mi	4/2.0	2,364 (0%)	0mo	$353,500	$150	100
12950 Emerson Ave	0.07mi	4/2.0	2,242 (-5%)	2mo	$342,000	$153	87
1310 Donald Ave	0.10mi	4/2.0	2,256 (-5%)	8mo	$329,000	$146	81
1319 Lakewood Ave	0.24mi	5/2.0 (+1)	2,501 (+6%)	21mo	$255,000	$102	56
1603 Cohassett Ave	0.69mi	5/2.0 (+1)	2,377 (+0%)	7mo	$320,000	$135	56
1379 Lakewood Ave	0.33mi	4/2.0	2,120 (-10%)	15mo	$349,000	$165	55
1607 Cohassett Ave	0.69mi	5/2.5 (+1)	2,276 (-4%)	0mo	$411,000	$181	54
1248 Donald Ave	0.04mi	5/3.0 (+1)	2,668 (+13%)	20mo	$398,000	$149	51
1286 Fry Ave	0.39mi	5/3.0 (+1)	2,512 (+6%)	18mo	$361,000	$144	48
1576 Wyandotte Ave	0.71mi	4/3.0	2,548 (+8%)	6mo	$360,000	$141	45
1587 Cohassett Ave	0.66mi	5/3.0 (+1)	2,305 (-2%)	13mo	$372,500	$162	45
1563 Ridgewood Ave	0.68mi	4/2.0	2,639 (+12%)	9mo	$350,000	$133	41

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 · 5.39% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.47×
• Total profit: $-51,712
• Equity at exit: $52,186

10-year hold

• IRR: -1.9%
• Equity multiple: 0.85×
• Total profit: $-14,335
• Equity at exit: $30,262

Cash invested: $98,000 (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 44107

• Rents YoY: 5.4%
• Active inventory: 204
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $3,205 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$598 /mo · $7,180/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $-48

Break-even live

Break-even rent $3,265

Max offer price $341,582

Occupancy floor 96%

Sensitivity live

Price	-10% $150	-5% $51	+0% $-48	+5% $-147	+10% $-246
Rent	-10% $-301	-5% $-174	+0% $-48	+5% $79	+10% $206
Rate	-1.0pp $129	-0.5pp $41	base $-48	+0.5pp $-138	+1.0pp $-231

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,541
1× unit	3	1	$1,664
Total (2 units)			$3,205

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11843 Edgewater Dr Lakewood, OH	1.0–3.0	1.0	1600	$1,690	$1.06	25d	1	0.44mi
11800 Edgewater Dr Lakewood, OH	3.0	1.0–2.0	1064	$2,179	$2.05	0d	8	0.54mi
1446 Hopkins Ave Lakewood, OH	4.0	4.0	1880	$1,950	$1.04	45d	1	0.56mi
1574 Cohassett Ave Lakewood, OH	4.0	1.5	1825	$2,275	$1.25	19d	1	0.64mi
1265 Marlowe Ave Lakewood, OH	4.0	1.0	1690	$1,750	$1.04	16d	1	0.79mi
2082 Lewis Dr Unit 2082 Lakewood, OH	3.0	1.0	1600	$1,750	$1.09	45d	1	1.03mi
1303 Lakeland Ave Lakewood, OH	3.0	1.5	2000	$1,750	$0.88	45d	1	1.34mi
1252 Summit Ave Lakewood, OH	3.0	1.5	1632	$2,650	$1.62	45d	1	1.42mi

Listing history 15 events

1. 2026-05-22
   listed $350,000 Active
2. 2025-10-07
   historical
3. 2025-08-29
   listed $400,000 Active
4. 2022-03-22
   soldstatus $317,000
5. 2022-03-18
   soldstatus $317,000 Closed 251-char remark

   Show marketing remark (251 chars)

   Sold Before Print - Amazing opportunity in Lakewood for an updated multi-unit with tons of space throughout! Each unit offers 2 bedrooms and 1 full bath plus a bonus room and a finished third floor! Great location with convenient access to everything!

6. 2022-01-28
   historical 251-char remark

   Show marketing remark (251 chars)

   Sold Before Print - Amazing opportunity in Lakewood for an updated multi-unit with tons of space throughout! Each unit offers 2 bedrooms and 1 full bath plus a bonus room and a finished third floor! Great location with convenient access to everything!

7. 2022-01-27
   listed $317,000 251-char remark

   Show marketing remark (251 chars)

   Sold Before Print - Amazing opportunity in Lakewood for an updated multi-unit with tons of space throughout! Each unit offers 2 bedrooms and 1 full bath plus a bonus room and a finished third floor! Great location with convenient access to everything!

8. 2020-01-31
   status Pending
9. 2020-01-30
   soldstatus $235,000 Closed
10. 2019-12-10
    historical Contingent
11. 2019-11-25
    status Active
12. 2019-11-22
    historical Contingent
13. 2019-11-17
    listed $244,900 Active
14. 2001-04-27
    soldstatus $135,000
15. 1993-05-28
    soldstatus $70,000

ⓘ 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: $7,180 · $598/mo
• Projected year-2 tax: $7,180 · $598/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 8 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,460
• − Mortgage interest: −$19,605
• − Property taxes: −$7,180
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,077
• − Management: −$3,077
• − Depreciation: −$10,182
• Taxable loss: −$6,411
• Est. tax savings @ 24.0%: +$1,539
• After-tax cash flow: $967/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: Lakewood City
• NCES district ID: 3904419
• Math proficiency: 60% ▼ -11.00%
• Reading proficiency: 71% ▼ -3.00%
• Median HH income: $45,181
• Composite: 55.13/100
• National rank: #1282
• State rank: #213 of 656 in OH

Livability — Lakewood

• Score: 88/100
• State rank: #29
• US rank: #249

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakewood, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 50,018
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 50,018
• Household income: $68,970
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 2271.0

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 White (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 8% Lithuanian 2% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Arabic 3% Other Indo-European 2% Spanish 2%

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: ▼ -347.35%
• Current HPI: 266.5337
• Rent YoY: ▲ 5.39%
• 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

+400.0% since first listed

15 events — show timeline

• 2026-05-22 Listed $350,000 MLSNOW
• 2025-10-07 Listing Removed — MLSNOW
• 2025-08-29 Listed $400,000 MLSNOW
• 2022-03-22 Sold (Public Records) $317,000 Public Records
• 2022-03-18 Sold (MLS) $317,000 MLSNOW
• 2022-01-28 Listing Removed — MLSNOW
• 2022-01-27 Listed $317,000 MLSNOW
• 2020-01-31 Pending — MLSNOW
• 2020-01-30 Sold (MLS) $235,000 MLSNOW
• 2019-12-10 Contingent — MLSNOW
• 2019-11-25 Relisted — MLSNOW
• 2019-11-22 Contingent — MLSNOW
• 2019-11-17 Listed $244,900 MLSNOW
• 2001-04-27 Sold (Public Records) $135,000 Public Records
• 1993-05-28 Sold (Public Records) $70,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $7,180 · -0.2% YoY. Source: county tax records.