2580-2582 Colchester Rd · Cleveland Heights, OH 44106

$399,900

6 bd · 4.0 ba · 3,459 sqft · MultiFamily public records · 100 Days on market

Built 1920 8,398 sqft lot Est $522k · 23% 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).

• Cash flow +19.1/30.0
• ARV discount +15.0/15.0
• 1% rule +6.0/10.0
• DSCR +6.0/10.0
• Livability +4.5/5.0
• Rent growth +3.6/5.0
• Schools +2.8/10.0
• 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

Exceptionally nice duplex! Security for the future, this side by side features spacious rooms and charm throughout. Built-in cabinetry, crown molding, hardwood flooring and a fireplace in each unit. Fabulous location with close proximity to Shaker Square, Cedar Fairmount and Coventry. Located next door to Roxboro school. Two car garage and a Home Warranty offered.

Key facts

• Hardwood flooring
• Spacious duplex
• Separate dining room

Tags

• SPACIOUS DUPLEX
• GENEROUSLY SIZED KITCHENS
• SEPARATE DINING ROOM
• BRIGHT LIVING AREAS
• HARDWOOD FLOORING
• NEWER BATHROOMS

Property features AI

Finance

• Financial info: Tenant pays all utilities; One unit listed as month-to-month and shown as leased with $2,000 actual rent

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: 3-story building
• Construction: Cedar construction; Asphalt/fiberglass roof
• Exterior features: Lot approximately 0.193 acres; Public sewer; Public water

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Two separate 5-bedroom units (each listed as four-bedroom or more)
• Bathrooms: Four full bathrooms total (units contain 2 bathrooms each)
• Heating & cooling: Hot water heating; Radiator heating; Steam heating
• Interior features: Full basement with an apartment layout
• Laundry & utility: Washer and dryer included; Laundry located in basement and in-unit

What this means for you Summary

Snapshot

• This is a 2 × 5-bed/2.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive. Per door: $212/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $364k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.4% 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.
• Market conditions: Rents rising fast (+4.2%/yr); 33 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $4,395/mo this rent would consume 122% of the median local household income ($43k/yr) (locally 2268% 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 $3k of loan paydown is wiped out by about $12k 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 100 days — a 9% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $195k; list at $400k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $363,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.10% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $522,309
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2634 Colchester Rd	0.13mi	5/3.0 (-1)	3,049 (-12%)	21mo	$460,000	$151	48

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 · 4.22% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-32,075
• Equity at exit: $59,626

10-year hold

• IRR: 3.6%
• Equity multiple: 1.28×
• Total profit: $30,818
• Equity at exit: $34,576

Cash invested: $111,972 (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 44106

• Rents YoY: 4.2%
• Active inventory: 33
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $4,395 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$784 /mo · $9,408/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$923
• Net cashflow: $424

Break-even live

Break-even rent $3,858

Max offer price $399,900

Occupancy floor 85%

Sensitivity live

Price	-10% $651	-5% $538	+0% $424	+5% $311	+10% $198
Rent	-10% $77	-5% $251	+0% $424	+5% $598	+10% $772
Rate	-1.0pp $626	-0.5pp $526	base $424	+0.5pp $321	+1.0pp $215

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

Units	Beds	Baths	Est. rent
▸ 2× units	5	2	$4,394
Total (2 units)			$4,395

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2280 Grandview Ave Cleveland, OH	5.0	1.5	2500	$2,000	$0.80	8d	1	0.37mi
2501 Euclid Heights Blvd Cleveland, OH	6.0	5.0	3000	$3,600	$1.20	17d	1	0.76mi

Listing history 24 events

1. 2026-06-18
   days on market $399,900 Active 100 DOM
2. 2026-06-17
   days on market $399,900 Active 99 DOM
3. 2026-06-16
   days on market $399,900 Active 98 DOM
4. 2026-06-15
   days on market $399,900 Active 97 DOM
5. 2026-06-13
   days on market $399,900 Active 95 DOM
6. 2026-06-09
   days on market $399,900 Active 91 DOM
7. 2026-06-08
   days on market $399,900 Active 90 DOM
8. 2026-06-07
   days on market $399,900 Active 89 DOM
9. 2026-06-05
   days on market $399,900 Active 86 DOM
10. 2026-06-03
    days on market $399,900 Active 85 DOM
11. 2026-06-02
    days on market $399,900 Active 84 DOM
12. 2026-06-01
    days on market $399,900 Active 83 DOM
13. 2026-05-31
    days on market $399,900 Active 82 DOM
14. 2026-03-28
    status Active
15. 2026-03-24
    historical Contingent
16. 2026-03-10
    listed $399,900 Active
17. 2020-02-14
    soldstatus $195,000
18. 2020-02-13
    soldstatus $185,000 Closed 366-char remark

    Show marketing remark (366 chars)

    Exceptionally nice duplex! Security for the future, this side by side features spacious rooms and charm throughout. Built-in cabinetry, crown molding, hardwood flooring and a fireplace in each unit. Fabulous location with close proximity to Shaker Square, Cedar Fairmount and Coventry. Located next door to Roxboro school. Two car garage and a Home Warranty offered.

19. 2020-01-24
    historical Contingent 366-char remark

    Show marketing remark (366 chars)

    Exceptionally nice duplex! Security for the future, this side by side features spacious rooms and charm throughout. Built-in cabinetry, crown molding, hardwood flooring and a fireplace in each unit. Fabulous location with close proximity to Shaker Square, Cedar Fairmount and Coventry. Located next door to Roxboro school. Two car garage and a Home Warranty offered.

20. 2020-01-22
    status Active 366-char remark

    Show marketing remark (366 chars)

    Exceptionally nice duplex! Security for the future, this side by side features spacious rooms and charm throughout. Built-in cabinetry, crown molding, hardwood flooring and a fireplace in each unit. Fabulous location with close proximity to Shaker Square, Cedar Fairmount and Coventry. Located next door to Roxboro school. Two car garage and a Home Warranty offered.

21. 2020-01-06
    historical Contingent 366-char remark

    Show marketing remark (366 chars)

    Exceptionally nice duplex! Security for the future, this side by side features spacious rooms and charm throughout. Built-in cabinetry, crown molding, hardwood flooring and a fireplace in each unit. Fabulous location with close proximity to Shaker Square, Cedar Fairmount and Coventry. Located next door to Roxboro school. Two car garage and a Home Warranty offered.

22. 2019-10-16
    listed $215,000 Active 366-char remark

    Show marketing remark (366 chars)

    Exceptionally nice duplex! Security for the future, this side by side features spacious rooms and charm throughout. Built-in cabinetry, crown molding, hardwood flooring and a fireplace in each unit. Fabulous location with close proximity to Shaker Square, Cedar Fairmount and Coventry. Located next door to Roxboro school. Two car garage and a Home Warranty offered.

23. 1998-05-15
    soldstatus $167,000
24. 1975-11-01
    soldstatus $28,000

ⓘ 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: $9,408 · $784/mo
• Projected year-2 tax: $9,408 · $784/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 6 d/yr ≥95°F today · 15 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: $52,740
• − Mortgage interest: −$22,401
• − Property taxes: −$9,408
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,219
• − Management: −$4,219
• − Depreciation: −$11,633
• Taxable loss: −$1,140
• Est. tax savings @ 24.0%: +$274
• After-tax cash flow: $5,365/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): 25,120
• Household income: $43,170
• Rent vs Own: 76.3% rent · 23.7% own
• Severe rent burden: 2268.0

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 0.67)
• Race & ethnicity: Black 41% White 39% Asian 11% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Lithuanian 1% Italian 1%
• Foreign-born: 13% · China, Canada, South Korea
• Languages at home: 82% English-only · Spanish 3% Other Indo-European 3% Chinese 3%

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: ▼ -133.63%
• Current HPI: 117.6949
• Rent YoY: ▲ 4.22%
• 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

+1328.2% since first listed

11 events — show timeline

• 2026-03-28 Relisted — MLSNOW
• 2026-03-24 Contingent — MLSNOW
• 2026-03-10 Listed $399,900 MLSNOW
• 2020-02-14 Sold (Public Records) $195,000 Public Records
• 2020-02-13 Sold (MLS) $185,000 MLSNOW
• 2020-01-24 Contingent — MLSNOW
• 2020-01-22 Relisted — MLSNOW
• 2020-01-06 Contingent — MLSNOW
• 2019-10-16 Listed $215,000 MLSNOW
• 1998-05-15 Sold (Public Records) $167,000 Public Records
• 1975-11-01 Sold (Public Records) $28,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $9,408 · -0.8% YoY. Source: county tax records.