2108 S Belvoir Blvd · South Euclid, OH 44121

$300,000

6 bd · 3.0 ba · 2,727 sqft · MultiFamily public records · 85 Days on market

Built 1948 0.58 ac lot Est $289k · at est.

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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 +26.7/30.0
• DSCR +9.2/10.0
• 1% rule +8.6/10.0
• ARV discount +5.8/15.0
• Livability +4.4/5.0
• Rent growth +4.2/5.0
• Schools +3.1/10.0
• 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

Solid Brick Duplex on Half an Acre – Prime Investment Opportunity This well-maintained side-by-side brick duplex sits on over half an acre and offers nearly 3,000 sq ft of total living space. Each unit features 3 bedrooms and 1.5 bathrooms, plus a spacious third floor that can be finished into a 4th bedroom. Both units include central A/C, separate laundry in the basement, and tenants currently on month-to-month leases who would love to stay. One side includes an additional bonus room for extra living space. The property also boasts a beautiful, durable slate roof, three garages that fit four cars, and a huge driveway for plenty of parking. The expansive yard is perfect for recreat

Key facts

• Separate laundry
• Bonus room
• Central a/c

Tags

• SOLID BRICK DUPLEX
• HALF AN ACRE
• CENTRAL A/C
• SEPARATE LAUNDRY
• BONUS ROOM
• SLATE ROOF

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive. Per door: $407/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 5.9% in South Euclid — 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 (#22 in OH, #207 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• South Euclid-Lyndhurst City (suburban): math 23% / reading 45% proficiency, ranked #556 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.8%/yr); 150 active listings in the ZIP; 2 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 $4,073/mo this rent would consume 64% of the median local household income ($77k/yr) (locally 672% 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 + 6.8% rent growth), your $84k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 2 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: property tax is 2.8% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $282,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 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 1948 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 1.36% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.64%
• DSCR: 1.52
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $289,062
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14513 Cedar Rd	0.41mi	6/2.0	2,600 (-5%)	12mo	$276,500	$106	59
4029 Okalona Rd	0.51mi	6/3.0	2,372 (-13%)	18mo	$240,000	$101	40

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 · 6.85% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.24×
• Total profit: $19,941
• Equity at exit: $44,731

10-year hold

• IRR: 18.8%
• Equity multiple: 2.88×
• Total profit: $158,072
• Equity at exit: $25,939

Cash invested: $84,000 (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 44121

• Rents YoY: 6.8%
• Active inventory: 150
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $4,073 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$705 /mo · $8,454/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$855
• Net cashflow: $815

Break-even live

Break-even rent $3,041

Max offer price $300,000

Occupancy floor 75%

Sensitivity live

Price	-10% $985	-5% $900	+0% $815	+5% $730	+10% $645
Rent	-10% $493	-5% $654	+0% $815	+5% $976	+10% $1,137
Rate	-1.0pp $966	-0.5pp $891	base $815	+0.5pp $737	+1.0pp $658

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$4,072
Total (2 units)			$4,073

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4461 Groveland Rd Cleveland, OH	5.0	2.0	1820	$2,495	$1.37	3d	1	0.46mi
2536 Claver Rd University Heights, OH	5.0	3.0	2889	$2,850	$0.99	3d	1	0.80mi

Listing history 7 events

1. 2026-01-07
   status Pending
2. 2025-12-26
   status Active
3. 2025-11-30
   status Pending
4. 2025-09-08
   listed $300,000 Active
5. 2023-10-27
   soldstatus $278,000
6. 2022-12-08
   historical
7. 2017-06-09
   soldstatus $184,000

ⓘ 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: $8,454 · $705/mo
• Projected year-2 tax: $8,454 · $705/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 3/10 Moderate FEMA zone X (unshaded) · 12% 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: $48,876
• − Mortgage interest: −$16,805
• − Property taxes: −$8,454
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,910
• − Management: −$3,910
• − Depreciation: −$8,727
• Taxable income: $5,570
• Est. tax owed @ 24.0%: −$1,337
• After-tax cash flow: $8,442/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: South Euclid-Lyndhurst City
• NCES district ID: 3904479
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $61,244
• Composite: 30.51/100
• National rank: #6212
• State rank: #556 of 656 in OH

Livability — South Euclid

• Score: 88/100
• State rank: #22
• US rank: #207

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Euclid, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 32,668
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 32,312
• Household income: $76,767
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 672.0

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: Black 55% White 36% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Italian 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada, China, India
• Languages at home: 92% 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: ▼ -180.15%
• Current HPI: 173.7405
• Rent YoY: ▲ 6.85%
• 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

+63.0% since first listed

7 events — show timeline

• 2026-01-07 Pending — MLSNOW
• 2025-12-26 Relisted — MLSNOW
• 2025-11-30 Pending — MLSNOW
• 2025-09-08 Listed $300,000 MLSNOW
• 2023-10-27 Sold (Public Records) $278,000 Public Records
• 2022-12-08 Rental Removed — YESMLS
• 2017-06-09 Sold (Public Records) $184,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $8,454 · +9.9% YoY. Source: county tax records.