1200 Cook Ave · Lakewood, OH 44107

$359,000

4 bd · 2.0 ba · 2,445 sqft · MultiFamily public records · 19 Days on market

Built 1909 5,758 sqft lot Est $369k · 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 +11.5/30.0
• ARV discount +8.7/15.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• Rent growth +3.8/5.0
• 1% rule +3.7/10.0
• DSCR +3.4/10.0
• 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

This Charming Lakewood duplex is an investor's Dream! The Wonderful Lakewood location is turn-key and is close to public transportation and Downtown Lakewood. The downstairs unit has 2 bedrooms and 1 full bath; the downstairs kitchen has been totally renovated with new cabinets, under cabinet lighting and leveled floor. Each unit has a lovely front porch to relax on. The upstairs unit has 2 bedrooms with an additional finished attic, with its own entrance, which could be used as a third bedroom, or may be rented for an Airbnb opportunity. The home features a large driveway and a very nice garage, with electric and extra storage. The home is completed by a fully fenced in, well manicured, backyard! Roof is around 10 yrs old and electrical has been updated by Lake Erie Electric. Current tenant is on a month to month lease, paying $950 a month. Call for your private showing today!

Key facts

• Vinyl windows
• Updated electric
• Front porch

Tags

• FENCED IN BACK YARD
• FRONT PORCH
• VINYL WINDOWS
• UPDATED ELECTRIC

Property features AI

Finance

• Financial info: Owner pays sewer and trash collection; Tenant pays electricity, gas, and water

Exterior

• Parking: Detached garage; 2 garage spaces; On-street parking; Garage with electricity and garage door opener
• Utilities: Public water; Public sewer
• Home design: 2-story residence (3 total stories); Has a view
• Construction: Vinyl siding exterior; Asphalt/fiberglass roof; Block foundation; Built (year from public records)
• Exterior features: Balcony; Fenced backyard with vinyl and wood fencing

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total rooms: 10
• Bathrooms: 2 full bathrooms
• Interior features: Double-pane windows; Ceiling fan(s); Common full basement
• Laundry & utility: Washer; Dryer (laundry in basement)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $359k.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative. Per door: $-59/mo.
• To cash-flow at today's rent, offer at most $338k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (13.3% below list).
• Recommended offer: $311k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.5% 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: schools A+, amenities A+, cost of living 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.
• Market conditions: Rents rising fast (+5.4%/yr); 201 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $3,113/mo this rent would consume 54% 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 $11k 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 19 days — a 2% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 29y 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 $285k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $311,300 (13.3% 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 1909 — 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: 0.87% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $369,195
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1230 Marlowe Ave	0.26mi	4/2.0	2,458 (+0%)	13mo	$435,000	$177	76
1215 Gladys Ave	0.04mi	4/2.0	2,200 (-10%)	14mo	$339,000	$154	70
1278 Gladys Ave	0.16mi	4/2.0	2,138 (-13%)	8mo	$366,000	$171	65
1284 Warren Rd	0.16mi	4/2.0	2,082 (-15%)	8mo	$315,000	$151	61
1357 Warren Rd	0.30mi	4/2.0	2,212 (-10%)	12mo	$349,000	$158	60
1313 Saint Charles Ave	0.25mi	4/2.0	2,080 (-15%)	6mo	$409,100	$197	59
1249 Cranford Ave	0.46mi	4/2.0	2,128 (-13%)	3mo	$315,000	$148	54
1600 Victoria Ave	0.72mi	4/2.0	2,635 (+8%)	3mo	$385,000	$146	51
1299 Lakeland Ave	0.32mi	5/2.0 (+1)	2,112 (-14%)	13mo	$299,000	$142	47
1282 Marlowe Ave	0.29mi	5/3.0 (+1)	2,767 (+13%)	18mo	$390,000	$141	41
1300 Ethel Ave	0.67mi	4/2.0	2,152 (-12%)	11mo	$300,000	$139	39
1485 Orchard Grove Ave	0.69mi	5/3.0 (+1)	2,800 (+14%)	19mo	$410,000	$146	19

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: -15.8%
• Equity multiple: 0.42×
• Total profit: $-57,921
• Equity at exit: $53,528

10-year hold

• IRR: -3.6%
• Equity multiple: 0.73×
• Total profit: $-26,656
• Equity at exit: $31,040

Cash invested: $100,520 (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 44107

• Rents YoY: 5.4%
• Active inventory: 201
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $3,113 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$545 /mo · $6,541/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$654
• Net cashflow: $-118

Break-even live

Break-even rent $3,262

Max offer price $338,149

Occupancy floor 99%

Sensitivity live

Price	-10% $85	-5% $-16	+0% $-118	+5% $-220	+10% $-321
Rent	-10% $-364	-5% $-241	+0% $-118	+5% $5	+10% $128
Rate	-1.0pp $63	-0.5pp $-27	base $-118	+0.5pp $-211	+1.0pp $-306

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,114
Total (2 units)			$3,113

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1265 Marlowe Ave Lakewood, OH	4.0	1.0	1690	$1,750	$1.04	15d	1	0.33mi
1303 Lakeland Ave Lakewood, OH	3.0	1.5	2000	$1,750	$0.88	44d	1	0.33mi
1252 Summit Ave Lakewood, OH	3.0	1.5	1632	$2,650	$1.62	44d	1	0.35mi
1657 Wagar Ave Unit 2 Lakewood, OH	4.0	2.0	1992	$2,280	$1.14	22d	1	1.07mi
17844 Cannon Ave Lakewood, OH	4.0	2.5	1700	$2,800	$1.65	44d	1	1.13mi
2125 Mars Ave Lakewood, OH	4.0	2.0	1650	$2,000	$1.21	24d	1	1.20mi
1574 Cohassett Ave Lakewood, OH	4.0	1.5	1825	$2,275	$1.25	18d	1	1.36mi
2082 Lewis Dr Unit 2082 Lakewood, OH	3.0	1.0	1600	$1,750	$1.09	44d	1	1.37mi

Listing history 16 events

1. 2026-06-18
   days on market $359,000 Active 19 DOM
2. 2026-06-18
   price $359,000 Active 18 DOM
3. 2026-06-17
   days on market $369,000 Active 18 DOM
4. 2026-06-16
   days on market $369,000 Active 17 DOM
5. 2026-06-15
   days on market $369,000 Active 16 DOM
6. 2026-06-13
   days on market $369,000 Active 14 DOM
7. 2026-06-13
   days on market $369,000 Active 13 DOM
8. 2026-06-09
   days on market $369,000 Active 10 DOM
9. 2026-06-08
   days on market $369,000 Active 9 DOM
10. 2026-06-07
    days on market $369,000 Active 8 DOM
11. 2026-06-05
    days on market $369,000 Active 5 DOM
12. 2026-06-03
    days on market $369,000 Active 4 DOM
13. 2026-06-02
    days on market $369,000 Active 3 DOM
14. 2026-06-01
    days on market $369,000 Active 2 DOM
15. 2026-05-31
    remarks 568-char remark
16. 2026-05-31
    remarks 498-char remark

ⓘ 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: $6,541 · $545/mo
• Projected year-2 tax: $6,541 · $545/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: $37,356
• − Mortgage interest: −$20,110
• − Property taxes: −$6,541
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,988
• − Management: −$2,988
• − Depreciation: −$10,444
• Taxable loss: −$7,510
• Est. tax savings @ 24.0%: +$1,802
• After-tax cash flow: $386/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

+570.9% since first listed

27 events — show timeline

• 2026-05-29 Listed $369,000 MLSNOW
• 2021-05-26 Sold (Public Records) $285,000 Public Records
• 2021-05-20 Pending — MLSNOW
• 2021-05-18 Sold (MLS) $285,000 MLSNOW
• 2021-04-23 Contingent — MLSNOW
• 2021-04-23 Relisted — MLSNOW
• 2021-04-20 Contingent — MLSNOW
• 2021-04-15 Listed $260,000 MLSNOW
• 2017-11-30 Pending — MLSNOW
• 2017-11-30 Sold (MLS) $180,000 MLSNOW
• 2017-11-29 Sold (Public Records) $180,000 Public Records
• 2017-09-28 Contingent — MLSNOW
• 2017-09-14 Listed $187,700 MLSNOW
• 2010-08-16 Listing Removed — MLSNOW
• 2010-05-21 Listed $139,900 MLSNOW
• 2009-10-20 Listing Removed — MLSNOW
• 2008-08-07 Listed $119,900 MLSNOW
• 2008-01-04 Sold (Public Records) $60,000 Public Records
• 2008-01-04 Sold (MLS) $60,000 MLSNOW
• 2007-08-26 Listed $70,000 MLSNOW
• 2007-01-12 Sold (Public Records) $114,900 Public Records
• 1998-03-10 Sold (MLS) $90,000 MLSNOW
• 1998-03-06 Sold (Public Records) $90,000 Public Records
• 1998-02-05 Listing Removed — MLSNOW
• 1997-08-05 Listed $100,000 MLSNOW
• 1987-08-14 Sold (Public Records) $66,500 Public Records
• 1983-08-05 Sold (Public Records) $55,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $6,541 · -0.2% YoY. Source: county tax records.