3397 Westbury Rd · Shaker Heights, OH 44120

$209,000

4 bd · 2.0 ba · 1,984 sqft · MultiFamily public records · 40 Days on market

Built 1942 5,349 sqft lot Est $230k · 9% under

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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 +19.0/30.0
• ARV discount +11.6/15.0
• 1% rule +7.1/10.0
• DSCR +6.0/10.0
• 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

Great opportunity to own this duplex in Shaker Heights with partially finished basement and detached 2 car garage. Each unit features 2 bedrooms and 1 bathroom with a combined 1,984 +/- sq ft of living space. Central location near restaurants and shopping. Bring your ideas and design and see how you can transform this place into just what you have been looking for

Key facts

• Remodeled duplex
• Fully updated units
• Renovated bathrooms

Tags

• REMODELED DUPLEX
• FULLY UPDATED UNITS
• BRAND-NEW KITCHENS
• RENOVATED BATHROOMS
• DETACHED GARAGE
• UPDATED MECHANICALS

Property features AI

Finance

• Other: Property currently has leased units (both units listed as leased)
• Financial info: Two leased residential units with reported rents: one unit at $950 and one unit at $1,100
• HOA & community: No HOA or community details provided

Exterior

• Parking: Detached 2-car garage; Driveway parking
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: 2-story building; One building on the lot
• Construction: Brick construction; Slate roof; Built (year source: public records)
• Exterior features: Driveway; Detached elements (detached garage listed); Brick construction; Slate roof; Lot recorded from assessor

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: No flooring details provided
• Bathrooms: Each unit has 1 bathroom (total 2 full bathrooms listed)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Updated/remodeled condition; Common basement
• Laundry & utility: No laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $209k.

Deal economics

• At list price, monthly cash flow is $25 ($303/yr) — positive. Per door: $13/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $209k).
• Recommended offer: $203k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,522/mo this rent would consume 64% 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.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $113k; list at $209k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; flood insurance adds $192/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.21% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• GRM: 6.9

CMA / ARV

• ARV (median comp): $230,053
• List price: $209,000
• Delta: -9.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3653 Hildana Rd	0.57mi	4/2.0	2,110 (+6%)	1mo	$102,000	$48	62
3371-3373 Colwyn Rd	0.07mi	4/2.0	1,728 (-13%)	17mo	$244,800	$142	61
3713 Menlo Rd	0.59mi	4/2.0	2,166 (+9%)	12mo	$65,000	$30	47
3533 Chelton Rd	0.45mi	3/2.0 (-1)	1,722 (-13%)	11mo	$225,000	$131	43

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: -14.7%
• Equity multiple: 0.47×
• Total profit: $-31,034
• Equity at exit: $31,163

10-year hold

• IRR: -5.1%
• Equity multiple: 0.66×
• Total profit: $-19,917
• Equity at exit: $18,071

Cash invested: $58,520 (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: 13.8×

Monthly cashflow live

• Estimated rent: $2,522 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$592 /mo · $7,099/yr
• Insurance: −$87
• Flood insurance flood zone: −$192 /mo · $2,309/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $25

Break-even live

Break-even rent $2,490

Max offer price $209,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,522
Total (2 units)			$2,522

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3348 Colwyn Rd Cleveland, OH	3.0	1.0	1330	$1,199	$0.90	23d	1	0.13mi
16015 Van Aken Blvd Cleveland, OH	2.0–4.0	2.0	1360	$1,395	$1.03	7d	4	0.28mi
14108 Becket Rd Cleveland, OH	4.0	3.5	1660	$2,206	$1.33	44d	1	0.65mi
16818 Kenyon Rd Unit 2 Shaker Heights, OH	4.0	1.0	1900	$1,900	$1.00	4d	1	0.69mi
3650 Lindholm Rd Cleveland, OH	4.0	2.0	1327	$2,099	$1.58	2d	1	0.70mi
3650 Lindholm Rd Cleveland, OH	4.0	2.0	1327	$2,099	$1.58	16d	1	0.70mi
3710 Sudbury Rd Cleveland, OH	4.0	1.5	1665	$1,900	$1.14	44d	1	0.70mi
3579 Riedham Rd Unit Up Shaker Heights, OH	4.0	2.0	1648	$1,600	$0.97	44d	1	0.80mi
3524 Daleford Rd Cleveland, OH	3.0	1.0	1700	$2,200	$1.29	16d	1	0.85mi
3719 Rolliston Rd Cleveland, OH	3.0	2.0	1458	$1,910	$1.31	44d	1	0.85mi
17424 Winslow Rd Cleveland, OH	4.0	2.0	1995	$2,200	$1.10	16d	1	0.89mi
3012 Albion Rd Cleveland, OH	3.0	1.5	1942	$1,900	$0.98	2d	1	0.97mi
3671 Daleford Rd Unit Up Shaker Heights, OH	3.0	2.0	1536	$1,675	$1.09	17d	1	0.99mi
3671 Daleford Rd Cleveland, OH	3.0	2.0	1536	$1,675	$1.09	21d	1	0.99mi
3578 Ingleside Rd Shaker Heights, OH	5.0	2.0	1308	$1,850	$1.41	4d	1	1.00mi
17408 Invermere Ave Cleveland, OH	4.0	1.5	1278	$1,900	$1.49	11d	1	1.11mi
18314 Chagrin Blvd Unit 1 Shaker Heights, OH	3.0	2.0	1670	$1,600	$0.96	17d	1	1.19mi
18313 Newell Rd Beachwood, OH	3.0	1.0	1318	$1,395	$1.06	44d	1	1.20mi
3634 Glencairn Rd Shaker Heights, OH	4.0	1.0	1612	$1,750	$1.09	23d	1	1.22mi
3636 Glencairn Rd Unit 2 Shaker Heights, OH	4.0	1.0	1612	$1,750	$1.09	23d	1	1.22mi
3601 Glencairn Rd Shaker Heights, OH	3.0	1.5	1890	$1,500	$0.79	44d	1	1.23mi
3578 Latimore Rd Shaker Heights, OH	3.0	1.5	2113	$2,200	$1.04	2d	1	1.30mi
3653 Winchell Rd Unit 2 Shaker Heights, OH	5.0	3.0	1775	$2,350	$1.32	44d	1	1.44mi
3614 Lynnfield Rd Shaker Heights, OH	4.0	2.0	1584	$1,450	$0.92	16d	1	1.44mi

Listing history 18 events

1. 2026-06-18
   days on market $209,000 Active 40 DOM
2. 2026-06-17
   days on market $209,000 Active 39 DOM
3. 2026-06-16
   days on market $209,000 Active 38 DOM
4. 2026-06-15
   days on market $209,000 Active 37 DOM
5. 2026-06-13
   days on market $209,000 Active 35 DOM
6. 2026-06-13
   days on market $209,000 Active 34 DOM
7. 2026-06-09
   days on market $209,000 Active 31 DOM
8. 2026-06-08
   days on market $209,000 Active 30 DOM
9. 2026-06-07
   days on market $209,000 Active 29 DOM
10. 2026-06-03
    days on market $209,000 Active 25 DOM
11. 2026-06-02
    days on market $209,000 Active 24 DOM
12. 2026-06-01
    days on market $209,000 Active 23 DOM
13. 2026-05-31
    days on market $209,000 Active 22 DOM
14. 2026-05-09
    listed $209,000 Active 1177-char remark
15. 2021-08-23
    soldstatus $113,000 Closed 371-char remark

    Show marketing remark (371 chars)

    Great opportunity to own this duplex in Shaker Heights with partially finished basement and detached 2 car garage. Each unit features 2 bedrooms and 1 bathroom with a combined 1,984 +/- sq ft of living space. Central location near restaurants and shopping. Bring your ideas and design and see how you can transform this place into just what you have been looking for

16. 2021-06-04
    status Pending 371-char remark

    Show marketing remark (371 chars)

    Great opportunity to own this duplex in Shaker Heights with partially finished basement and detached 2 car garage. Each unit features 2 bedrooms and 1 bathroom with a combined 1,984 +/- sq ft of living space. Central location near restaurants and shopping. Bring your ideas and design and see how you can transform this place into just what you have been looking for

17. 2021-05-27
    listed $70,000 Active 371-char remark

    Show marketing remark (371 chars)

    Great opportunity to own this duplex in Shaker Heights with partially finished basement and detached 2 car garage. Each unit features 2 bedrooms and 1 bathroom with a combined 1,984 +/- sq ft of living space. Central location near restaurants and shopping. Bring your ideas and design and see how you can transform this place into just what you have been looking for

18. 1976-07-01
    soldstatus $40,000

ⓘ 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: $7,099 · $592/mo
• Projected year-2 tax: $7,099 · $592/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 6/10 Major FEMA zone AH · 69% 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: $30,264
• − Mortgage interest: −$11,707
• − Property taxes: −$7,099
• − Insurance: −$3,354
• − Repairs & maintenance: −$2,421
• − Management: −$2,421
• − Depreciation: −$6,080
• Taxable loss: −$2,819
• Est. tax savings @ 24.0%: +$677
• After-tax cash flow: $979/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

+422.5% since first listed

5 events — show timeline

• 2026-05-09 Listed $209,000 MLSNOW
• 2021-08-23 Sold (MLS) $113,000 MLSNOW
• 2021-06-04 Pending — MLSNOW
• 2021-05-27 Listed $70,000 MLSNOW
• 1976-07-01 Sold (Public Records) $40,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $7,099 · +10.5% YoY. Source: county tax records.