2341 Warrensville Center Rd · University Heights, OH 44118

$299,900

6 bd · 3.0 ba · 2,852 sqft · MultiFamily public records · 12 Days on market

Built 1954 7,522 sqft lot Est $279k · 7% 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 +24.9/30.0
• DSCR +8.1/10.0
• 1% rule +7.7/10.0
• Livability +4.7/5.0
• ARV discount +4.2/15.0
• Rent growth +3.9/5.0
• Schools +2.8/10.0
• 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

24hrs Notice/Call Listers To Show/ Sandy Davis Or Jeanne/Seller Will Do Vio Lations/Excellent Income/Disclosure

Key facts

• 2 family home
• Formal dining room
• Brick exterior

Tags

• 2 FAMILY HOME
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• FRONT AND SIDE ENTRANCES
• BRICK EXTERIOR
• ATTACHED 2 CAR GARAGE

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 2 stories; Year built per public records
• Construction: Asphalt roof
• Exterior features: Lot size approximately 0.1727 acres; Below-grade finished area of about 600 (finished basement area); Above-grade finished area of about 2,852

Interior

• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Partially finished basement; Total of 12 rooms; One building on the parcel

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $640 ($8k/yr) — positive. Per door: $320/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 8.9% vs local median 3.6% in University 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 94/100 on livability (#1 in OH, #3 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Cleveland Heights-University Heights City (suburban): math 23% / reading 41% proficiency, ranked #568 of 656 in OH (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cleveland Heights High School (math 12% / reading 46%, grade F, #627 of 781 statewide, top 81%, 1,664 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 257 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,818/mo this rent would consume 59% of the median local household income ($78k/yr) (locally 1847% 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 $9k 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 + 5.7% rent growth), your $84k 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.
• 2 sale attempts since 36y ago; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $195k; list at $300k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,900

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 1954 — 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 B-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: 1.27% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.15%
• DSCR: 1.41
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $279,496
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13816 Cedar Rd	0.51mi	6/3.0	2,831 (-1%)	16mo	$175,000	$62	62
2612 Warrensville Center Rd	0.51mi	6/2.5	3,036 (+6%)	3mo	$298,500	$98	61
13810 Cedar Rd	0.52mi	6/2.0	2,810 (-2%)	15mo	$299,900	$107	57
2359 Ashurst Rd	0.57mi	6/3.0	3,163 (+11%)	8mo	$271,000	$86	49

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 · 5.7% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $3,087
• Equity at exit: $44,716

10-year hold

• IRR: 13.4%
• Equity multiple: 2.22×
• Total profit: $102,400
• Equity at exit: $25,930

Cash invested: $83,972 (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 44118

• Rents YoY: 5.7%
• Active inventory: 257
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $3,818 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$678 /mo · $8,138/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $640

Break-even live

Break-even rent $3,007

Max offer price $299,900

Occupancy floor 78%

Sensitivity live

Price	-10% $810	-5% $725	+0% $640	+5% $556	+10% $471
Rent	-10% $339	-5% $490	+0% $640	+5% $791	+10% $942
Rate	-1.0pp $791	-0.5pp $717	base $640	+0.5pp $563	+1.0pp $484

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,818
Total (2 units)			$3,818

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2536 Claver Rd University Heights, OH	5.0	3.0	2889	$2,850	$0.99	0d	1	0.73mi

Listing history 8 events

1. 2026-06-21
   days on market $299,900 Active 12 DOM
2. 2026-06-18
   days on market $299,900 Active 9 DOM
3. 2026-06-17
   days on market $299,900 Active 8 DOM
4. 2026-06-16
   days on market $299,900 Active 7 DOM
5. 2026-06-15
   days on market $299,900 Active 6 DOM
6. 2026-06-13
   pricedays on market $299,900 Active 4 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $259,900 Active 1 DOM

ⓘ 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: $8,138 · $678/mo
• Projected year-2 tax: $8,138 · $678/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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,816
• − Mortgage interest: −$16,799
• − Property taxes: −$8,138
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,665
• − Management: −$3,665
• − Depreciation: −$8,724
• Taxable income: $3,325
• Est. tax owed @ 24.0%: −$798
• After-tax cash flow: $6,887/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: Cleveland Heights-University Heights City
• NCES district ID: 3904379
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $53,451
• Composite: 28.12/100
• National rank: #6822
• State rank: #568 of 656 in OH

Livability — University Heights

• Score: 94/100
• State rank: #1
• US rank: #3

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: University Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 40,715
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 40,715
• Household income: $77,555
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1847.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 57% Black 33% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -319.62%
• Current HPI: 204.5504
• Rent YoY: ▲ 5.70%
• 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

+213.1% since first listed

6 events — show timeline

• 2026-06-09 Listed $259,900 MLSNOW
• 2007-06-22 Sold (Public Records) $195,000 Public Records
• 1991-06-04 Sold (Public Records) $120,000 Public Records
• 1991-06-01 Sold (MLS) $120,000 MLSNOW
• 1990-10-04 Listed $134,900 MLSNOW
• 1978-03-01 Sold (Public Records) $83,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $8,138 · -2.0% YoY. Source: county tax records.