13517 4th Ave · East Cleveland, OH 44112

$48,000

4 bd · 2.0 ba · 2,186 sqft · MultiFamily public records · 90 Days on market

Built 1920 4,399 sqft lot $22/sqft · 19% above area Est $40k · 19% over

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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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0
• 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 investor opportunity in Cleveland! This duplex offers strong income potential with a versatile layout perfect for rental or value-add strategies. Each unit provides functional living space, making it ideal for long-term tenants or a renovation to increase rents. Located in a convenient area near local amenities, schools, and major highways, this property is well-positioned for steady cash flow and future appreciation. Don’t miss the chance to add this income-producing property to your portfolio!

Key facts

• Versatile layout
• Convenient area
• Local amenities

Tags

• INVESTOR OPPORTUNITY
• STRONG INCOME POTENTIAL
• VERSATILE LAYOUT
• FUNCTIONAL LIVING SPACE
• CONVENIENT AREA
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $48k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $717/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.
• Cap rate 42.1% vs local median 17.3% 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: 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.
• Zoned schools: Caledonia Elementary School (246 students, 0% FRL); W.H. Kirk Middle School (math 6% / reading 15%, grade F, #642 of 654 statewide, top 98%, 291 students, 0% FRL); Shaw High School (math 2% / reading 27%, grade F, #706 of 781 statewide, top 92%, 541 students, 0% FRL) — zoned schools average 0% FRL vs 92% district-wide (92 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 100 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,216/mo this rent would consume 92% 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 $332 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 4.62% ✓
• Cap rate: 42.12%
• Cash-on-cash: 127.95%
• DSCR: 6.69
• GRM: 1.8

CMA / ARV

• ARV (median comp): $40,496
• List price: $48,000
• Delta: 18.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1623 Elsinore Ave	0.22mi	4/2.0	2,220 (+2%)	1mo	$39,000	$18	86
13500 Third Ave	0.09mi	4/2.0	2,090 (-4%)	17mo	$30,000	$14	75
1216 Lakefront Ave	0.35mi	5/2.0 (+1)	2,154 (-2%)	3mo	$70,770	$33	74
14012 Scioto Ave	0.23mi	5/3.0 (+1)	2,209 (+1%)	6mo	$95,000	$43	74
13428 Hartford Rd	0.30mi	4/2.0	1,988 (-9%)	9mo	$34,000	$17	63
14111 Savannah Ave	0.35mi	4/2.0	1,924 (-12%)	2mo	$34,000	$18	62
14004 Savannah Ave	0.31mi	4/2.0	1,996 (-9%)	13mo	$40,000	$20	60
14520 Strathmore Ave	0.50mi	5/3.0 (+1)	2,220 (+2%)	9mo	$130,000	$59	58
13436 Hartford Rd	0.30mi	4/2.0	1,920 (-12%)	11mo	$89,500	$47	56
1304 E 134th St	0.66mi	4/2.0	2,306 (+6%)	8mo	$105,000	$46	53
14310 Potomac Ave	0.36mi	5/2.0 (+1)	1,982 (-9%)	12mo	$36,000	$18	52
1045 Carlyon Rd	0.50mi	4/3.0	2,436 (+11%)	3mo	$113,000	$46	51

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: —
• Equity multiple: 7.58×
• Total profit: $88,436
• Equity at exit: $7,157

10-year hold

• IRR: —
• Equity multiple: 17.05×
• Total profit: $215,734
• Equity at exit: $4,150

Cash invested: $13,440 (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: 100
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,216 high
• Mortgage (P&I): −$252
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $1,433

Break-even live

Break-even rent $402

Max offer price $48,000

Occupancy floor 30%

Sensitivity live

Price	-10% $1,460	-5% $1,447	+0% $1,433	+5% $1,419	+10% $1,406
Rent	-10% $1,258	-5% $1,345	+0% $1,433	+5% $1,521	+10% $1,608
Rate	-1.0pp $1,457	-0.5pp $1,445	base $1,433	+0.5pp $1,421	+1.0pp $1,408

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,216
Total (2 units)			$2,216

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12819 Edmonton Ave Cleveland, OH	4.0	1.0	1423	$1,795	$1.26	19d	1	0.34mi
1229 Melbourne Rd Cleveland, OH	5.0	1.5	1600	$2,000	$1.25	46d	1	0.68mi
14120 Superior Ave Unit 1 East Cleveland, OH	3.0	1.0	1400	$1,350	$0.96	13d	1	0.70mi
14120 Superior Ave Unit 4 East Cleveland, OH	3.0	1.0	1408	$1,350	$0.96	46d	1	0.70mi
15801 Hazel Rd Cleveland, OH	3.0	1.5	1908	$1,550	$0.81	19d	1	0.96mi
651 E 115th St Cleveland, OH	4.0	2.0	1550	$1,800	$1.16	24d	1	0.97mi
571 E 115th St Cleveland, OH	4.0	2.0	2220	$1,808	$0.81	19d	1	1.05mi
1339 E 115th St Cleveland, OH	5.0	2.0	1550	$2,000	$1.29	19d	1	1.17mi
910 Dresden Rd Cleveland, OH	4.0	2.0	1839	$1,800	$0.98	19d	1	1.21mi
16000 Terrace Rd Cleveland, OH	1.0–3.0	1.0–2.0	1000	$1,207	$1.21	0d	39	1.26mi
2827 Avondale Ave Apt 2 Cleveland Heights, OH	3.0	1.0	1680	$1,275	$0.76	26d	1	1.31mi
1641 Coventry Rd Cleveland, OH	3.0	1.0	1848	$1,200	$0.65	19d	1	1.32mi
14172 Superior Rd Unit 1 Cleveland Heights, OH	3.0	1.0	1446	$1,295	$0.90	26d	1	1.38mi
1633 Eddington Rd Unit 1 Cleveland Heights, OH	3.0	1.0	1538	$1,100	$0.72	26d	1	1.38mi
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	46d	1	1.48mi

Listing history 24 events

1. 2026-06-22
   days on market $48,000 Active 90 DOM
2. 2026-06-21
   days on market $48,000 Active 89 DOM
3. 2026-06-18
   days on market $48,000 Active 86 DOM
4. 2026-06-17
   days on market $48,000 Active 85 DOM
5. 2026-06-16
   days on market $48,000 Active 84 DOM
6. 2026-06-15
   days on market $48,000 Active 83 DOM
7. 2026-06-13
   days on market $48,000 Active 81 DOM
8. 2026-06-13
   days on market $48,000 Active 80 DOM
9. 2026-06-09
   days on market $48,000 Active 77 DOM
10. 2026-06-08
    days on market $48,000 Active 76 DOM
11. 2026-06-07
    days on market $48,000 Active 75 DOM
12. 2026-06-05
    days on market $48,000 Active 72 DOM
13. 2026-06-03
    days on market $48,000 Active 71 DOM
14. 2026-06-02
    days on market $48,000 Active 70 DOM
15. 2026-06-01
    days on market $48,000 Active 69 DOM
16. 2026-05-31
    days on market $48,000 Active 68 DOM
17. 2026-03-23
    listed $48,000 Active 512-char remark

    Show marketing remark (512 chars)

    Great investor opportunity in Cleveland! This duplex offers strong income potential with a versatile layout perfect for rental or value-add strategies. Each unit provides functional living space, making it ideal for long-term tenants or a renovation to increase rents. Located in a convenient area near local amenities, schools, and major highways, this property is well-positioned for steady cash flow and future appreciation. Don’t miss the chance to add this income-producing property to your portfolio!

18. 2026-03-23
    historical

    Show marketing remark (512 chars)

    Great investor opportunity in Cleveland! This duplex offers strong income potential with a versatile layout perfect for rental or value-add strategies. Each unit provides functional living space, making it ideal for long-term tenants or a renovation to increase rents. Located in a convenient area near local amenities, schools, and major highways, this property is well-positioned for steady cash flow and future appreciation. Don’t miss the chance to add this income-producing property to your portfolio!

19. 2025-12-05
    listed $50,000 Active
20. 2025-09-15
    historical
21. 2025-06-11
    price $26,000
22. 2025-05-08
    price $28,000
23. 2025-04-22
    price $29,000
24. 2025-04-11
    listed $30,000 Active

ⓘ 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: $551 · $46/mo
• Projected year-2 tax: $650 · $54/mo
• Expected delta: +$99/yr (+$8/mo · 18.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $26,592
• − Mortgage interest: −$2,689
• − Property taxes: −$551
• − Insurance: −$240
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − Depreciation: −$1,396
• Taxable income: $17,461
• Est. tax owed @ 24.0%: −$4,191
• After-tax cash flow: $13,006/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

+60.0% since first listed

8 events — show timeline

• 2026-03-23 Listing Removed — MLSNOW
• 2026-03-23 Listed $48,000 MLSNOW
• 2025-12-05 Listed $50,000 MLSNOW
• 2025-09-15 Listing Removed — MLSNOW
• 2025-06-11 Price Changed $26,000 MLSNOW
• 2025-05-08 Price Changed $28,000 MLSNOW
• 2025-04-22 Price Changed $29,000 MLSNOW
• 2025-04-11 Listed $30,000 MLSNOW

Property tax history

-4.4%/yr

Latest (2025): $551 · -0.0% YoY. Source: county tax records.