18004 Winslow Rd · Shaker Heights, OH 44122

$300,000

4 bd · 3.0 ba · 2,520 sqft · MultiFamily public records · 7 Days on market

Built 1928 5,837 sqft lot Est $237k · 27% 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 +22.2/30.0
• 1% rule +7.7/10.0
• DSCR +7.1/10.0
• Schools +5.0/10.0
• Livability +4.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 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

Adorable two-family home in Shaker Heights across from a children's playground. This home has spacious living rooms with a fireplace in each and beautiful hardwood floors throughout with some carpeted bedrooms. The back of the home has two wooden decks for the upper and lower quadrants that look out over a beautifully landscaped back yard. Home includes a detached three car garage. At this price you can renovate to your heart desires!

Key facts

• New boiler
• New garage doors
• New deck

Tags

• NEW DECK
• NEW BOILER
• NEW ROOF
• NEW GARAGE DOORS
• REFINISHED HARDWOOD FLOORS
• INSTALLED LVT

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 $488 ($6k/yr) — positive. Per door: $244/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 8.2% 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 (+1.1%/yr); 177 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $3,799/mo this rent would consume 45% of the median local household income ($101k/yr) (locally 1294% 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $72k; list at $300k implies a 320% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $300,000

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 1928 — 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 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. 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: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $236,880
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17624 Winslow Rd	0.15mi	4/3.0	2,268 (-10%)	11mo	$270,000	$119	67
3560 Avalon Rd	0.36mi	5/3.0 (+1)	2,618 (+4%)	6mo	$194,587	$74	67
3550 Daleford Rd	0.30mi	4/3.0	2,268 (-10%)	4mo	$342,500	$151	66
3541 Daleford Rd	0.27mi	4/2.0	2,608 (+4%)	14mo	$205,000	$79	66
18705 Newell Rd	0.29mi	4/3.5	2,472 (-2%)	21mo	$252,500	$102	64
3643 Lindholm Rd	0.62mi	4/3.0	2,368 (-6%)	8mo	$100,000	$42	55
3625 Ingleside Rd	0.31mi	4/2.0	2,377 (-6%)	22mo	$217,500	$92	54
3566 Daleford Rd	0.32mi	4/2.0	2,268 (-10%)	19mo	$187,000	$82	48
3619 Strathavon Rd	0.49mi	4/3.5	2,280 (-10%)	22mo	$220,000	$96	41
3654 3654 Avalon Road Rd #2	0.47mi	5/3.0 (+1)	2,236 (-11%)	23mo	$210,000	$94	35

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 · 1.15% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-24,132
• Equity at exit: $44,731

10-year hold

• IRR: -1.4%
• Equity multiple: 0.92×
• Total profit: $-7,094
• 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 44122

• Rents YoY: 1.1%
• Active inventory: 177
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $3,799 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$815 /mo · $9,777/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $488

Break-even live

Break-even rent $3,181

Max offer price $300,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,798
Total (2 units)			$3,799

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 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17424 Winslow Rd Cleveland, OH	4.0	2.0	1995	$2,200	$1.10	16d	1	0.21mi
3601 Glencairn Rd Shaker Heights, OH	3.0	1.5	1890	$1,500	$0.79	43d	1	0.24mi
3578 Latimore Rd Shaker Heights, OH	3.0	1.5	2113	$2,200	$1.04	2d	1	0.25mi
3653 Winchell Rd Unit 2 Shaker Heights, OH	5.0	3.0	1775	$2,350	$1.32	43d	1	0.43mi
16818 Kenyon Rd Unit 2 Shaker Heights, OH	4.0	1.0	1900	$1,900	$1.00	4d	1	0.47mi
19601 Van Aken Blvd Shaker Heights, OH	1.0–4.0	1.0–4.0	1977	$4,400	$2.23	21d	1	0.62mi
18801 Invermere Ave Cleveland, OH	3.0	2.5	2134	$2,200	$1.03	1d	1	0.64mi
2975 Claremont Rd Shaker Heights, OH	5.0	3.0	3241	$3,200	$0.99	11d	1	0.76mi
20005 Farnsleigh Rd Shaker Heights, OH	1.0–3.0	1.0–3.5	1407	$7,815	$5.55	1d	8	0.77mi
19406 Wickfield Ave Warrensville Heights, OH	3.0	1.5	1934	$2,650	$1.37	1d	1	0.78mi
2868 Lee Rd Cleveland, OH	4.0	2.5	3390	$4,100	$1.21	43d	1	1.19mi

Listing history 5 events

1. 2026-06-09
   days on market $300,000 Active 7 DOM
2. 2026-06-08
   days on market $300,000 Active 6 DOM
3. 2026-06-07
   days on market $300,000 Active 5 DOM
4. 2026-06-02
   remarks 695-char remark
5. 2026-06-02
   listed $300,000 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: $9,777 · $815/mo
• Projected year-2 tax: $9,777 · $815/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 ≥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: $45,588
• − Mortgage interest: −$16,805
• − Property taxes: −$9,777
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,647
• − Management: −$3,647
• − Depreciation: −$8,727
• Taxable income: $1,485
• Est. tax owed @ 24.0%: −$356
• After-tax cash flow: $5,503/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): 36,678
• Household income: $101,230
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1294.0

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 0.59)
• Race & ethnicity: White 56% Black 29% Asian 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Scotch-Irish 5% Italian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 85% English-only · Spanish 3% Other Indo-European 3% Chinese 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: ▼ -268.81%
• Current HPI: 200.5087
• Rent YoY: ▲ 1.15%
• 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

+206.1% since first listed

12 events — show timeline

• 2026-06-01 Listed $300,000 MLSNOW
• 2017-01-25 Pending — MLSNOW
• 2017-01-20 Sold (MLS) $71,500 MLSNOW
• 2017-01-18 Sold (Public Records) $71,500 Public Records
• 2016-12-21 Contingent — MLSNOW
• 2016-11-19 Price Changed $89,000 MLSNOW
• 2016-10-18 Price Changed $94,000 MLSNOW
• 2016-09-03 Price Changed $104,000 MLSNOW
• 2016-08-12 Price Changed $109,000 MLSNOW
• 2016-07-29 Price Changed $124,000 MLSNOW
• 2016-06-17 Listed $134,000 MLSNOW
• 1987-07-24 Sold (Public Records) $98,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $9,777 · +13.3% YoY. Source: county tax records.