19436 Van Aken Blvd #307 · Shaker Heights, OH 44122

$50,000

1 bd · 1.0 ba · 810 sqft · Condo public records · 57 Days on market

Built 1951 $528/mo HOA · 39% of rent

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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 +23.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +5.0/10.0
• Livability +4.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Third floor freshly renovated 1-bedroom condo, where thoughtful design meets effortless living. Royal Courts is located close to the RTA and Van Aken District in a beautiful brick building with 2 elevators. Bathed in natural light from large vinyl replacement windows, the open layout feels bright and welcoming. 2026 new luxury vinyl flooring has just been laid throughout. The kitchen has been recently updated with granite counters and luxury vinyl tile flooring. Stainless steel appliances & freshly painted wood cabinets. The full bathroom has a tub with shower. The main bedroom has spacious closet space. Enjoy the convenience of an assigned garage parking spot—no more hunting for street parking! This unit also has a storage unit in the basement area of the building. Located just a short stroll to the vibrant Van Aken District, with easy access to downtown Cleveland, Shaker Square, and the Larchmere Arts District via the Rapid line, this condo offers the perfect mix of location, style, and smart living. Will transfer City of Shaker Hts POS compliant.

Key facts

• Storage unit
• Granite counters
• Freshly renovated

Tags

• FRESHLY RENOVATED
• GRANITE COUNTERS
• LUXURY VINYL FLOORING
• STAINLESS STEEL APPLIANCES
• ASSIGNED GARAGE PARKING
• STORAGE UNIT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: crime A+, commute A+, employment 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.
• Zoned schools: Lomond Elementary School (math 47% / reading 42%, grade F, #991 of 1,584 statewide, top 64%, 372 students, 34% FRL); Shaker Hts Middle School (math 49% / reading 56%, grade C+, #378 of 654 statewide, top 59%, 651 students, 30% FRL); Shaker Hts High School (math 34% / reading 70%, grade D+, #343 of 781 statewide, top 47%, 1,498 students, 24% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents rising (+1.1%/yr); 183 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• This rent is only 16% of the median local income ($101k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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 57 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; HOA is 39% of rent; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.69% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.58%
• DSCR: 1.34
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.15% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.68×
• Total profit: $-4,522
• Equity at exit: $7,455

10-year hold

• IRR: -6.5%
• Equity multiple: 0.66×
• Total profit: $-4,757
• Equity at exit: $4,323

Cash invested: $14,000 (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: 183
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,346 high
• Mortgage (P&I): −$262
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$21
• HOA: −$528
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $88

Break-even live

Break-even rent $1,234

Max offer price $50,000

Occupancy floor 88%

Sensitivity live

Price	-10% $117	-5% $103	+0% $88	+5% $74	+10% $60
Rent	-10% $-18	-5% $35	+0% $88	+5% $142	+10% $195
Rate	-1.0pp $114	-0.5pp $101	base $88	+0.5pp $75	+1.0pp $62

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19606 Van Aken Blvd Shaker Heights, OH	1.0	1.0	900	$1,165	$1.29	18d	1	0.01mi
19601 Van Aken Blvd Shaker Heights, OH	1.0–4.0	1.0–4.0	1977	$1,585	$0.80	23d	1	0.09mi
20005 Farnsleigh Rd Shaker Heights, OH	1.0–3.0	1.0–3.5	1407	$2,110	$1.50	0d	8	0.20mi
3310 Warrensville Center Rd Shaker Heights, OH	1.0–2.0	1.0–2.0	998	$1,100	$1.10	25d	2	0.37mi
3310 Warrensville Center Rd Shaker Heights, OH	2.0	1.0–1.5	1052	$1,275	$1.21	9d	2	0.37mi
3310 Warrensville Center Rd Unit MT-403 Shaker Heights, OH	1.0	1.0	759	$1,100	$1.45	9d	1	0.37mi
3363 Warrensville Center Rd Shaker Heights, OH	1.0	1.0	723	$995	$1.38	16d	1	0.37mi
3290 Warrensville Center Rd Shaker Heights, OH	1.0–2.0	1.0–2.0	1150	$1,150	$1.00	45d	3	0.40mi
3210 Warrensville Center Rd Shaker Heights, OH	1.0–3.0	1.0–2.0	1253	$1,300	$1.04	0d	3	0.45mi
3279 Warrensville Center Rd Unit 15D Shaker Heights, OH	2.0	1.5	985	$1,400	$1.42	45d	1	0.45mi
3208 Warrensville Center Rd Shaker Heights, OH	1.0–3.0	1.0–2.0	1145	$1,250	$1.09	0d	1	0.47mi
20835 Chagrin Blvd Shaker Heights, OH	2.0	1.0	897	$1,250	$1.39	45d	1	0.47mi
20835 Chagrin Blvd Unit 35-5 Shaker Heights, OH	2.0	1.0	897	$1,250	$1.39	9d	1	0.47mi
20835 Chagrin Blvd Shaker Heights, OH	2.0	1.0	897	$1,250	$1.39	25d	1	0.47mi
3255 Warrensville Center Rd Shaker Heights, OH	2.0	1.0	900	$1,400	$1.56	45d	1	0.48mi
3559 Gridley Rd Unit Up Shaker Heights, OH	2.0	1.0	950	$1,495	$1.57	45d	1	0.48mi
20865 Chagrin Blvd Shaker Heights, OH	2.0	1.0	897	$1,195	$1.33	46d	1	0.51mi
20865 Chagrin Blvd Unit 3 Shaker Heights, OH	1.0	1.0	723	$900	$1.24	45d	1	0.51mi
20865 Chagrin Blvd Shaker Heights, OH	1.0	1.0	897	$1,150	$1.28	45d	1	0.51mi
20865 Chagrin Blvd Unit 2 Shaker Heights, OH	2.0	1.0	987	$1,118	$1.13	45d	1	0.51mi
20865 Chagrin Blvd Unit CH-65-2 Shaker Heights, OH	1.0	1.0	897	$1,250	$1.39	14d	1	0.51mi
20865 Chagrin Blvd Unit 5 Shaker Heights, OH	2.0	1.0	897	$1,250	$1.39	45d	1	0.51mi
20865 Chagrin Blvd Shaker Heights, OH	1.0	1.0	897	$1,250	$1.39	25d	1	0.51mi
3715 Warrensville Center Rd Beachwood, OH	1.0	1.0	840	$939	$1.12	18d	1	0.63mi
3609 Strandhill Rd Shaker Heights, OH	2.0	1.0	1080	$1,195	$1.11	25d	1	0.64mi
3733 Warrensville Center Rd Shaker Heights, OH	1.0	1.0	577	$988	$1.71	45d	3	0.69mi
17612 Winslow Rd Apt 3 Shaker Heights, OH	1.0	1.0	600	$1,500	$2.50	45d	1	0.75mi
3430 Avalon Rd Apt 103 Shaker Heights, OH	1.0	1.0	831	$1,200	$1.44	0d	1	0.90mi
17014 Kenyon Rd Unit Down Shaker Heights, OH	2.0	1.0	900	$1,200	$1.33	4d	1	1.00mi
20301 Shelburne Rd #9 Shaker Heights, OH	2.0	1.5	900	$1,800	$2.00	0d	1	1.29mi
20301 Shelburne Rd #8 Shaker Heights, OH	2.0	2.0	950	$1,800	$1.89	0d	1	1.30mi
20301 Shelburne Rd Unit 9B Shaker Heights, OH	2.0	1.5	900	$1,850	$2.06	0d	1	1.30mi
20301 Shelburne Rd Unit 8B Shaker Heights, OH	2.0	2.0	945	$1,850	$1.96	0d	1	1.30mi
3657 Chelton Rd Shaker Heights, OH	2.0	1.0	1109	$1,099	$0.99	0d	1	1.35mi
23220 Chagrin Blvd Beachwood, OH	1.0–3.0	1.0–2.5	1324	$1,665	$1.26	0d	53	1.37mi
16320 Scottsdale Blvd Apt 2 Shaker Heights, OH	2.0	1.0	816	$1,365	$1.67	25d	1	1.40mi
15810 Van Aken Blvd Apt 203 Shaker Heights, OH	1.0	1.0	630	$1,000	$1.59	45d	1	1.48mi
15810 Van Aken Blvd Unit 306 Shaker Heights, OH	2.0	1.0	980	$1,300	$1.33	6d	1	1.48mi

HOA detail condo

• Monthly dues: $528 · $6,336/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-05-12
   status Pending 1077-char remark

   Show marketing remark (1077 chars)

   Third floor freshly renovated 1-bedroom condo, where thoughtful design meets effortless living. Royal Courts is located close to the RTA and Van Aken District in a beautiful brick building with 2 elevators. Bathed in natural light from large vinyl replacement windows, the open layout feels bright and welcoming. 2026 new luxury vinyl flooring has just been laid throughout. The kitchen has been recently updated with granite counters and luxury vinyl tile flooring. Stainless steel appliances & freshly painted wood cabinets. The full bathroom has a tub with shower. The main bedroom has spacious closet space. Enjoy the convenience of an assigned garage parking spot—no more hunting for street parking! This unit also has a storage unit in the basement area of the building. Located just a short stroll to the vibrant Van Aken District, with easy access to downtown Cleveland, Shaker Square, and the Larchmere Arts District via the Rapid line, this condo offers the perfect mix of location, style, and smart living. Will transfer City of Shaker Hts POS compliant.

2. 2026-04-22
   price $50,000 1077-char remark

   Show marketing remark (1077 chars)

   Third floor freshly renovated 1-bedroom condo, where thoughtful design meets effortless living. Royal Courts is located close to the RTA and Van Aken District in a beautiful brick building with 2 elevators. Bathed in natural light from large vinyl replacement windows, the open layout feels bright and welcoming. 2026 new luxury vinyl flooring has just been laid throughout. The kitchen has been recently updated with granite counters and luxury vinyl tile flooring. Stainless steel appliances & freshly painted wood cabinets. The full bathroom has a tub with shower. The main bedroom has spacious closet space. Enjoy the convenience of an assigned garage parking spot—no more hunting for street parking! This unit also has a storage unit in the basement area of the building. Located just a short stroll to the vibrant Van Aken District, with easy access to downtown Cleveland, Shaker Square, and the Larchmere Arts District via the Rapid line, this condo offers the perfect mix of location, style, and smart living. Will transfer City of Shaker Hts POS compliant.

3. 2026-03-16
   listed $60,000 Active 1077-char remark

   Show marketing remark (1077 chars)

   Third floor freshly renovated 1-bedroom condo, where thoughtful design meets effortless living. Royal Courts is located close to the RTA and Van Aken District in a beautiful brick building with 2 elevators. Bathed in natural light from large vinyl replacement windows, the open layout feels bright and welcoming. 2026 new luxury vinyl flooring has just been laid throughout. The kitchen has been recently updated with granite counters and luxury vinyl tile flooring. Stainless steel appliances & freshly painted wood cabinets. The full bathroom has a tub with shower. The main bedroom has spacious closet space. Enjoy the convenience of an assigned garage parking spot—no more hunting for street parking! This unit also has a storage unit in the basement area of the building. Located just a short stroll to the vibrant Van Aken District, with easy access to downtown Cleveland, Shaker Square, and the Larchmere Arts District via the Rapid line, this condo offers the perfect mix of location, style, and smart living. Will transfer City of Shaker Hts POS compliant.

4. 2024-06-01
   historical $895
5. 2024-05-18
   listed $895
6. 2024-05-10
   historical $895
7. 2024-05-07
   price $895
8. 2024-04-20
   price $935
9. 2024-03-12
   listed $950
10. 2021-02-28
    historical
11. 2021-01-04
    status Active
12. 2021-01-04
    historical Contingent
13. 2020-09-07
    price $50,000
14. 2020-06-18
    price $55,000
15. 2020-03-23
    listed $59,000 Active
16. 2009-09-03
    historical
17. 2009-03-02
    listed $49,900
18. 2006-05-25
    soldstatus $45,000
19. 2006-05-25
    soldstatus $51,900
20. 2006-03-02
    listed $45,000
21. 1992-10-15
    soldstatus $261,000

ⓘ 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: $1,963 · $164/mo
• Projected year-2 tax: $1,963 · $164/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $16,147
• − Mortgage interest: −$2,801
• − Property taxes: −$1,963
• − Insurance: −$250
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − HOA: −$6,336
• − Depreciation: −$1,455
• Taxable income: $760
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $879/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

-80.8% since first listed

21 events — show timeline

• 2026-05-12 Pending — MLSNOW
• 2026-04-22 Price Changed $50,000 MLSNOW
• 2026-03-16 Listed $60,000 MLSNOW
• 2024-06-01 Rental Removed $895 RENT.
• 2024-05-18 Listed for Rent $895 RENT.
• 2024-05-10 Rental Removed $895 RENT.
• 2024-05-07 Price Changed $895 RENT.
• 2024-04-20 Price Changed $935 RENT.
• 2024-03-12 Listed for Rent $950 RENT.
• 2021-02-28 Listing Removed — MLSNOW
• 2021-01-04 Relisted — MLSNOW
• 2021-01-04 Contingent — MLSNOW
• 2020-09-07 Price Changed $50,000 MLSNOW
• 2020-06-18 Price Changed $55,000 MLSNOW
• 2020-03-23 Listed $59,000 MLSNOW
• 2009-09-03 Listing Removed — MLSNOW
• 2009-03-02 Listed $49,900 MLSNOW
• 2006-05-25 Sold (Public Records) $51,900 Public Records
• 2006-05-25 Sold (MLS) $45,000 MLSNOW
• 2006-03-02 Listed $45,000 MLSNOW
• 1992-10-15 Sold (Public Records) $261,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,963 · +13.4% YoY. Source: county tax records.