1422 E 264th St · Euclid, OH 44132

$312,000

8 bd · 4.0 ba · 3,872 sqft · MultiFamily public records · 6 Days on market

Built 1969 10,258 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Absolutely Pristine Investment Property! Clean and Very Well Maintained Brick 4 Unit. Each Apartment Has 2 Bedrooms and 1 Bath. Updated Throughout with All Appliances in Each Unit Including Refrigerator, Range and Dishwasher. Common Area Has Coin Laundry. Spacious Parking Lot at Rear to Allow for 2 Vehicles Per Unit. Air Conditioning! Unit #1 has a brand new furnace - October 2015. Great Opportunity for Investors or Owner Occupant - Unit 3 on Second Floor Available to Move-In.

Key facts

• Private balconies
• Common laundry
• On-site parking

Tags

• PRIVATE BALCONIES
• CENTRAL AIR
• COMMON LAUNDRY
• ON-SITE PARKING
• STRONG REGIONAL HIGHWAY ACCESS
• RECREATIONAL DESTINATIONS

Property features AI

Finance

• Other: Single building (1 building); Above-grade finished area approximately 3,872

Exterior

• Parking: On-site parking lot
• Utilities: Public water; Public sewer
• Home design: Two-story building; Faces southeast; Brick construction
• Construction: Built (year per public records); Brick construction; Asphalt shingle roof
• Exterior features: Balcony

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: Four full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Balcony
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $312k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $357/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $312k).
• Cap rate 11.8% vs local median 6.8% in 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 77/100 on livability (#204 in OH, #3,149 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools C-, commute F, employment D-.
• Euclid City (suburban): math 14% / reading 28% proficiency, ranked #625 of 656 in OH (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+15.5%/yr); 39 active listings in the ZIP; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $5,023/mo this rent would consume 126% of the median local household income ($48k/yr) (locally 1297% 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 + 8.0% rent growth), your $87k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $312,000

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 1969 — 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. 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.
7. 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.
8. 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: 1.61% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.64%
• DSCR: 1.87
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 1.77×
• Total profit: $67,346
• Equity at exit: $46,520

10-year hold

• IRR: 29.9%
• Equity multiple: 4.41×
• Total profit: $297,963
• Equity at exit: $26,976

Cash invested: $87,360 (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 44132

• Home prices YoY: -16.9%
• Rents YoY: 15.5%
• Active inventory: 39
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $5,023 high
• Mortgage (P&I): −$1,636
• Tax from tax record: −$772 /mo · $9,270/yr
• Insurance: −$130
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,055
• Net cashflow: $1,430

Break-even live

Break-even rent $3,213

Max offer price $312,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,024
Total (4 units)			$5,023

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: $78,000
• Closing costs: $9,360
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-08
   status $312,000 Pending 6 DOM
2. 2026-06-07
   days on market $312,000 Active 6 DOM
3. 2026-06-05
   days on market $312,000 Active 3 DOM
4. 2026-06-03
   days on market $312,000 Active 2 DOM
5. 2026-06-02
   remarks 699-char remark
6. 2026-06-02
   listed $312,000 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: $9,270 · $772/mo
• Projected year-2 tax: $9,270 · $772/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 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,276
• − Mortgage interest: −$17,477
• − Property taxes: −$9,270
• − Insurance: −$1,560
• − Repairs & maintenance: −$4,822
• − Management: −$4,822
• − Depreciation: −$9,076
• Taxable income: $13,249
• Est. tax owed @ 24.0%: −$3,180
• After-tax cash flow: $13,975/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: Euclid City
• NCES district ID: 3904395
• Math proficiency: 14% ▼ -19.00%
• Reading proficiency: 28% ▼ -14.00%
• Median HH income: $36,385
• Composite: 17.39/100
• National rank: #9067
• State rank: #625 of 656 in OH

Livability — Euclid

• Score: 77/100
• State rank: #204
• US rank: #3149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Euclid, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 41,855
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 14,633
• Household income: $47,969
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 1297.0

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: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Italian 1% Subsaharan African 1%
• Foreign-born: 3%
• Languages at home: 93% English-only · Spanish 3% 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: ▼ -41.89%
• Current HPI: 206.0583
• Rent YoY: ▲ 15.49%
• 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

+32.8% since first listed

8 events — show timeline

• 2026-06-01 Listed $312,000 MLSNOW
• 2024-10-03 Sold (Public Records) $282,000 Public Records
• 2016-03-17 Sold (Public Records) $200,000 Public Records
• 2016-03-17 Sold (MLS) $200,000 MLSNOW
• 2016-03-11 Pending — MLSNOW
• 2016-01-15 Contingent — MLSNOW
• 2015-09-29 Price Changed $215,000 MLSNOW
• 2015-07-09 Listed $235,000 MLSNOW

Property tax history

+4.1%/yr

Latest (2025): $9,270 · -1.9% YoY. Source: county tax records.