3261 Altamont Ave · Cleveland Heights, OH 44118

$144,900

3 bd · 1.0 ba · 1,428 sqft · SingleFamily public records · 113 Days on market

Built 1926 7,000 sqft lot Est $193k · 25% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.5/30.0
• 1% rule +6.0/10.0
• Livability +4.5/5.0
• Rent growth +3.9/5.0
• DSCR +3.7/10.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean, Move-in!cleve Hts Compliances!newer Energy Effic Windows+bath * 10 Yr Roof * Low Maintenance * Gas Budget $47 Fenced Yard * Roxboro Middle School * Front Porch * Hrwd Flrs

Key facts

• Remodeled kitchen
• Full basement
• Laundry hook ups

Tags

• REMODELED KITCHEN
• CERAMIC TILE FLOORS
• GRANITE COUNTERS
• STAINLESS STEEL APPLIANCES
• FULL BASEMENT
• LAUNDRY HOOK UPS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-22 ($-260/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (2.6% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 4.3% in Cleveland 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 (#12 in OH, #124 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Cleveland Heights-University Heights City (suburban): math 23% / reading 41% proficiency, ranked #568 of 656 in OH (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cleveland Heights High School (math 12% / reading 46%, grade F, #627 of 781 statewide, top 81%, 1,664 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 257 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 113 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 36y ago; this cycle's ask has dropped $24k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,859 (9.0% 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. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $192,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3163 Sycamore Rd	0.27mi	3/1.0	1,472 (+3%)	3mo	$110,000	$75	79
3412 Euclid Heights Blvd	0.31mi	3/1.5	1,460 (+2%)	2mo	$230,000	$158	78
3322 Altamont Ave	0.12mi	3/2.0	1,322 (-7%)	2mo	$183,000	$138	76
2534 Newbury Dr	0.49mi	3/1.5	1,448 (+1%)	2mo	$270,000	$186	71
3383 Beechwood Ave	0.25mi	4/1.5 (+1)	1,520 (+6%)	3mo	$182,000	$120	68
3130 E Overlook Rd	0.47mi	4/2.0 (+1)	1,448 (+1%)	1mo	$165,000	$114	66
1514 Rydalmount Rd	0.55mi	4/1.0 (+1)	1,474 (+3%)	2mo	$200,000	$136	62
3623 Bainbridge Rd	0.71mi	3/1.5	1,410 (-1%)	3mo	$235,000	$167	60
1898 Powell Ave	0.54mi	4/2.0 (+1)	1,382 (-3%)	3mo	$187,000	$135	58
2017 Goodnor Rd	0.50mi	3/1.5	1,605 (+12%)	1mo	$140,000	$87	53
3484 Bainbridge Rd	0.47mi	3/1.5	1,631 (+14%)	1mo	$155,600	$95	52
3357 Washington Blvd	0.59mi	4/2.0 (+1)	1,591 (+11%)	3mo	$170,000	$107	42

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 · 5.7% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.50×
• Total profit: $-20,229
• Equity at exit: $21,605

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $636
• Equity at exit: $12,528

Cash invested: $40,572 (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 44118

• Rents YoY: 5.7%
• Active inventory: 257
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,590 high
• Mortgage (P&I): −$760
• Tax from tax record: −$457 /mo · $5,489/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $-22

Break-even live

Break-even rent $1,617

Max offer price $141,077

Occupancy floor 96%

Sensitivity live

Price	-10% $60	-5% $19	+0% $-22	+5% $-63	+10% $-104
Rent	-10% $-147	-5% $-84	+0% $-22	+5% $41	+10% $104
Rate	-1.0pp $51	-0.5pp $15	base $-22	+0.5pp $-59	+1.0pp $-97

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3230 Euclid Heights Blvd Unit NA Cleveland Heights, OH	4.0	1.0	1705	$2,270	$1.33	25d	1	0.07mi
3290 Desota Ave Cleveland, OH	4.0	1.0	1094	$1,325	$1.21	25d	1	0.12mi
3342 Desota Ave Unit 2 Cleveland Heights, OH	3.0	1.0	1316	$1,299	$0.99	9d	1	0.18mi
3407 Altamont Rd Unit 2nd Floor Cleveland, OH	3.0	1.0	1212	$1,095	$0.90	25d	1	0.27mi
3411 Beechwood Ave Unit 2nd floor Cleveland Heights, OH	3.0	1.0	1452	$1,687	$1.16	6d	1	0.28mi
3428 Superior Park Dr Cleveland Heights, OH	3.0	2.0	1704	$1,325	$0.78	23d	1	0.48mi
30 Severance Cir Cleveland Heights, OH	1.0–2.0	1.0–2.0	762	$1,700	$2.23	4d	18	0.51mi
35 Severance Cir Cleveland Heights, OH	1.0–2.0	1.0–2.0	832	$1,570	$1.89	3d	26	0.63mi
14172 Superior Rd Unit 2 Cleveland Heights, OH	2.0	1.0	1446	$1,195	$0.83	25d	1	0.65mi
14172 Superior Rd Unit 1 Cleveland Heights, OH	3.0	1.0	1446	$1,295	$0.90	25d	1	0.65mi
1720 Middlehurst Rd Cleveland, OH	1.0–2.0	1.0	775	$1,200	$1.55	25d	1	0.66mi
1605 Hillcrest Rd Cleveland, OH	2.0	1.0	1180	$1,245	$1.06	18d	1	0.70mi
2878 Mayfield Rd Cleveland Heights, OH	1.0–2.0	1.0	1060	$1,275	$1.20	25d	1	0.72mi
1633 Eddington Rd Unit 1 Cleveland Heights, OH	3.0	1.0	1538	$1,100	$0.72	25d	1	0.73mi
3241 Kildare Rd Unit 3241 Kildare Lower Cleveland Heights, OH	2.0	1.0	900	$1,095	$1.22	9d	1	0.75mi
3065 E Derbyshire Rd Cleveland Heights, OH	4.0	1.0	1450	$1,495	$1.03	23d	1	0.76mi
2100 Cottage Grove Dr Cleveland Heights, OH	4.0	1.5	1450	$1,495	$1.03	9d	1	0.76mi
14120 Superior Rd Cleveland, OH	3.0	1.0	1390	$1,400	$1.01	45d	1	0.78mi
1635 Belmar Rd Unit 1 Cleveland Heights, OH	2.0	1.0	900	$1,200	$1.33	25d	1	0.79mi
3062 E Derbyshire Rd Cleveland, OH	3.0	1.0	1650	$3,000	$1.82	25d	1	0.79mi
2845 Mayfield Rd Unit 2849-3 Cleveland Heights, OH	2.0	1.0	1000	$1,100	$1.10	25d	1	0.80mi
1695 Glenmont Rd Unit 1695 Glenmont Lower Cleveland Heights, OH	3.0	1.0	1336	$1,435	$1.07	9d	1	0.83mi
1695 Glenmont Rd Unit Lower Cleveland Heights, OH	3.0	1.0	1336	$1,435	$1.07	25d	1	0.83mi
2171 Rexwood Rd Cleveland Heights, OH	3.0	1.0	1023	$1,325	$1.30	25d	1	0.84mi
3699 Bainbridge Rd Cleveland, OH	3.0	1.5	1866	$1,900	$1.02	18d	1	0.84mi
2827 Avondale Ave Apt 2 Cleveland Heights, OH	3.0	1.0	1680	$1,275	$0.76	25d	1	0.86mi
1771 Coventry Rd Cleveland Heights, OH	2.0	1.0	925	$1,250	$1.35	23d	1	0.87mi
3412 Kildare Rd Cleveland Heights, OH	3.0	1.0	1296	$1,731	$1.34	4d	1	0.87mi
2201 Oakdale Rd Unit 1 Cleveland Heights, OH	2.0	1.0	1183	$1,250	$1.06	25d	1	0.88mi
3722 Bainbridge Rd Cleveland, OH	3.0	1.5	1326	$4,500	$3.39	25d	1	0.90mi
2223 Lee Rd Cleveland, OH	2.0	1.0–2.0	1015	$2,850	$2.81	3d	60	0.90mi
1545 Glenmont Rd Unit 1 East Cleveland, OH	2.0	1.0	1428	$800	$0.56	25d	1	0.90mi
1641 Coventry Rd Cleveland, OH	3.0	1.0	1848	$1,200	$0.65	18d	1	0.92mi
2772 Lancashire Rd Unit 1 Cleveland Heights, OH	3.0	1.0	1295	$1,400	$1.08	25d	1	0.94mi
2772 Lancashire Rd Cleveland, OH	3.0	1.0	1295	$1,400	$1.08	9d	2	0.94mi
2764 Lancashire Rd Cleveland, OH	2.0	2.0	1750	$1,545	$0.88	25d	1	0.96mi
2401 N Taylor Rd Cleveland, OH	3.0	1.0	1347	$1,325	$0.98	9d	1	0.99mi
1584 Maple Rd Cleveland, OH	3.0	2.0	1359	$1,700	$1.25	25d	1	1.00mi
13641 Cedar Rd University Heights, OH	2.0	1.0	1036	$1,350	$1.30	25d	1	1.02mi
13645 Cedar Rd University Heights, OH	2.0	1.0	1102	$1,395	$1.27	6d	1	1.02mi

Listing history 22 events

1. 2026-04-23
   status Pending
2. 2026-03-27
   price $144,900
3. 2026-02-02
   price $164,900
4. 2025-12-31
   listed $169,000 Active
5. 2024-12-23
   soldstatus $130,000
6. 2024-04-22
   soldstatus $112,000
7. 2024-03-29
   historical
8. 2024-03-07
   historical Contingent
9. 2024-01-31
   status Active
10. 2024-01-29
    price $128,900
11. 2024-01-29
    historical
12. 2024-01-22
    status Active
13. 2024-01-17
    historical Contingent
14. 2023-11-17
    price $132,000
15. 2023-10-29
    listed $135,000 Active
16. 1991-08-14
    soldstatus $55,000 178-char remark

    Show marketing remark (178 chars)

    Clean, Move-in!cleve Hts Compliances!newer Energy Effic Windows+bath * 10 Yr Roof * Low Maintenance * Gas Budget $47 Fenced Yard * Roxboro Middle School * Front Porch * Hrwd Flrs

17. 1991-08-14
    soldstatus $55,000

    Show marketing remark (178 chars)

    Clean, Move-in!cleve Hts Compliances!newer Energy Effic Windows+bath * 10 Yr Roof * Low Maintenance * Gas Budget $47 Fenced Yard * Roxboro Middle School * Front Porch * Hrwd Flrs

18. 1991-07-12
    listed $59,900 178-char remark

    Show marketing remark (178 chars)

    Clean, Move-in!cleve Hts Compliances!newer Energy Effic Windows+bath * 10 Yr Roof * Low Maintenance * Gas Budget $47 Fenced Yard * Roxboro Middle School * Front Porch * Hrwd Flrs

19. 1991-06-30
    historical
20. 1991-03-21
    listed $61,900
21. 1991-03-17
    historical
22. 1990-09-13
    listed $61,900

ⓘ 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: $5,489 · $457/mo
• Projected year-2 tax: $5,489 · $457/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 · 16 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: $19,079
• − Mortgage interest: −$8,117
• − Property taxes: −$5,489
• − Insurance: −$724
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$4,215
• Taxable loss: −$2,519
• Est. tax savings @ 24.0%: +$605
• After-tax cash flow: $345/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: Cleveland Heights-University Heights City
• NCES district ID: 3904379
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $53,451
• Composite: 28.12/100
• National rank: #6822
• State rank: #568 of 656 in OH

Livability — Cleveland Heights

• Score: 89/100
• State rank: #12
• US rank: #124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland Heights, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 32,312
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 40,715
• Household income: $77,555
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1847.0

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: White 57% Black 33% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -319.62%
• Current HPI: 204.5504
• Rent YoY: ▲ 5.70%
• 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

+134.1% since first listed

22 events — show timeline

• 2026-04-23 Pending — MLSNOW
• 2026-03-27 Price Changed $144,900 MLSNOW
• 2026-02-02 Price Changed $164,900 MLSNOW
• 2025-12-31 Listed $169,000 MLSNOW
• 2024-12-23 Sold (Public Records) $130,000 Public Records
• 2024-04-22 Sold (Public Records) $112,000 Public Records
• 2024-03-29 Listing Removed — MLSNOW
• 2024-03-07 Contingent — MLSNOW
• 2024-01-31 Relisted — MLSNOW
• 2024-01-29 Price Changed $128,900 MLSNOW
• 2024-01-29 Listing Removed — MLSNOW
• 2024-01-22 Relisted — MLSNOW
• 2024-01-17 Contingent — MLSNOW
• 2023-11-17 Price Changed $132,000 MLSNOW
• 2023-10-29 Listed $135,000 MLSNOW
• 1991-08-14 Sold (Public Records) $55,000 Public Records
• 1991-08-14 Sold (MLS) $55,000 MLSNOW
• 1991-07-12 Listed $59,900 MLSNOW
• 1991-06-30 Listing Removed — MLSNOW
• 1991-03-21 Listed $61,900 MLSNOW
• 1991-03-17 Listing Removed — MLSNOW
• 1990-09-13 Listed $61,900 MLSNOW

Property tax history

+4.6%/yr

Latest (2025): $5,489 · +0.0% YoY. Source: county tax records.