1427 E 133rd St · East Cleveland, OH 44112

$69,500

6 bd · 2.0 ba · 2,274 sqft · MultiFamily public records · 81 Days on market

Built 1924 5,601 sqft lot $31/sqft · 20% below area Est $87k · 20% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• 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

Great opportunity to add to or start your investment portfolio! This spacious duplex features 3-bedroom units on both the first and second floors, offering strong rental potential. Each unit showcases classic charm with built-in cabinetry in the dining rooms and fireplaces in the living rooms. The property also presents value-add potential with a walk-up third floor that could be finished to expand the second-floor unit and increase overall income. Some updates appear to have been completed over time, including newer electrical panels and updated Romex wiring, along with newer exterior doors and neutral interior paint. This property will require improvements to reach full rental readiness but offers a solid opportunity for investors looking to build equity and maximize returns. Sold as-is. Property is part of a bankruptcy sale. Seller will make no repairs and will not turn on utilities for inspections. Seller addendum required with all offers.

Key facts

• Built-in cabinetry
• Fireplaces
• Newer exterior doors

Tags

• BUILT-IN CABINETRY
• FIREPLACES
• WALK-UP THIRD FLOOR
• NEWER ELECTRICAL PANELS
• UPDATED ROMEX WIRING
• NEWER EXTERIOR DOORS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $675/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 29.6% vs local median 17.4% in East Cleveland — 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 66/100 on livability (#650 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
• East Cleveland City School District (suburban): math 4% / reading 17% proficiency, ranked #652 of 656 in OH (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Caledonia Elementary School (246 students, 0% FRL); W.H. Kirk Middle School (math 6% / reading 15%, grade F, #642 of 654 statewide, top 98%, 291 students, 0% FRL); Shaw High School (math 2% / reading 27%, grade F, #706 of 781 statewide, top 92%, 541 students, 0% FRL) — zoned schools average 0% FRL vs 92% district-wide (92 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 100 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 $2,354/mo this rent would consume 98% of the median local household income ($29k/yr) (locally 1702% 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 $481 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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $14k; list at $70k implies a 396% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,329 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% 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 1924 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 3.39% ✓
• Cap rate: 29.60%
• Cash-on-cash: 83.24%
• DSCR: 4.70
• GRM: 2.5

CMA / ARV

• ARV (median comp): $87,080
• List price: $69,500
• Delta: -20.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1443 E 133rd St	0.03mi	6/2.0	2,302 (+1%)	20mo	$65,000	$28	80
14012 Scioto Ave	0.41mi	5/3.0 (-1)	2,209 (-3%)	6mo	$95,000	$43	62
14520 Strathmore Ave	0.48mi	5/3.0 (-1)	2,220 (-2%)	9mo	$130,000	$59	57
14004 Northfield Ave	0.37mi	6/3.0	2,220 (-2%)	23mo	$28,000	$13	55
1216 Lakefront Ave	0.72mi	5/2.0 (-1)	2,154 (-5%)	3mo	$70,770	$33	50
14310 Potomac Ave	0.45mi	5/2.0 (-1)	1,982 (-13%)	12mo	$36,000	$18	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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: 86.1%
• Equity multiple: 5.11×
• Total profit: $79,991
• Equity at exit: $10,363

10-year hold

• IRR: 89.7%
• Equity multiple: 11.43×
• Total profit: $202,991
• Equity at exit: $6,009

Cash invested: $19,460 (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 44112

• Rents YoY: 5.2%
• Active inventory: 100
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,354 high
• Mortgage (P&I): −$364
• Tax from tax record: −$116 /mo · $1,397/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $1,350

Break-even live

Break-even rent $645

Max offer price $69,500

Occupancy floor 38%

Sensitivity live

Price	-10% $1,389	-5% $1,370	+0% $1,350	+5% $1,330	+10% $1,311
Rent	-10% $1,164	-5% $1,257	+0% $1,350	+5% $1,443	+10% $1,536
Rate	-1.0pp $1,385	-0.5pp $1,368	base $1,350	+0.5pp $1,332	+1.0pp $1,314

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,354
Total (2 units)			$2,354

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1229 Melbourne Rd Cleveland, OH	5.0	1.5	1600	$2,000	$1.25	45d	1	1.07mi
1853 Noble Rd Cleveland, OH	7.0	2.0	2387	$600	$0.25	45d	1	1.24mi

Listing history 22 events

1. 2026-06-21
   days on market $69,500 Active 81 DOM
2. 2026-06-18
   days on market $69,500 Active 78 DOM
3. 2026-06-17
   days on market $69,500 Active 77 DOM
4. 2026-06-16
   days on market $69,500 Active 76 DOM
5. 2026-06-15
   days on market $69,500 Active 75 DOM
6. 2026-06-13
   days on market $69,500 Active 73 DOM
7. 2026-06-13
   days on market $69,500 Active 72 DOM
8. 2026-06-09
   days on market $69,500 Active 69 DOM
9. 2026-06-08
   days on market $69,500 Active 68 DOM
10. 2026-06-07
    days on market $69,500 Active 67 DOM
11. 2026-06-05
    days on market $69,500 Active 64 DOM
12. 2026-06-03
    days on market $69,500 Active 63 DOM
13. 2026-06-02
    days on market $69,500 Active 62 DOM
14. 2026-06-01
    days on market $69,500 Active 61 DOM
15. 2026-05-31
    days on market $69,500 Active 60 DOM
16. 2026-03-31
    historical
17. 2026-03-30
    listed $69,500 Active 957-char remark

    Show marketing remark (957 chars)

    Great opportunity to add to or start your investment portfolio! This spacious duplex features 3-bedroom units on both the first and second floors, offering strong rental potential. Each unit showcases classic charm with built-in cabinetry in the dining rooms and fireplaces in the living rooms. The property also presents value-add potential with a walk-up third floor that could be finished to expand the second-floor unit and increase overall income. Some updates appear to have been completed over time, including newer electrical panels and updated Romex wiring, along with newer exterior doors and neutral interior paint. This property will require improvements to reach full rental readiness but offers a solid opportunity for investors looking to build equity and maximize returns. Sold as-is. Property is part of a bankruptcy sale. Seller will make no repairs and will not turn on utilities for inspections. Seller addendum required with all offers.

18. 2026-01-14
    price $69,500
19. 2025-11-06
    price $70,000
20. 2025-10-14
    price $74,500
21. 2025-08-25
    listed $76,400 Active
22. 2019-10-09
    soldstatus $14,000

ⓘ 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: $1,397 · $116/mo
• Projected year-2 tax: $1,397 · $116/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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,248
• − Mortgage interest: −$3,893
• − Property taxes: −$1,397
• − Insurance: −$348
• − Repairs & maintenance: −$2,260
• − Management: −$2,260
• − Depreciation: −$2,022
• Taxable income: $16,069
• Est. tax owed @ 24.0%: −$3,857
• After-tax cash flow: $12,342/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: East Cleveland City School District
• NCES district ID: 3904390
• Math proficiency: 4% ▼ -16.00%
• Reading proficiency: 17% ▼ -13.00%
• Median HH income: $22,726
• Composite: 7.38/100
• National rank: #9954
• State rank: #652 of 656 in OH

Livability — East Cleveland

• Score: 66/100
• State rank: #650
• US rank: #11510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Cleveland, OH
• County: Cuyahoga County · 1,090,369 people
• City population: 17,848
• Metro: Cleveland-Elyria, OH
• Population (ZIP): 17,848
• Household income: $28,799
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1702.0

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: Predominantly Black (89%)
• Race & ethnicity: Black 89% White 7% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 3% Spanish 2% 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: ▼ -115.61%
• Current HPI: 67.2162
• Rent YoY: ▲ 5.16%
• 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

+396.4% since first listed

7 events — show timeline

• 2026-03-31 Listing Removed — MLSNOW
• 2026-03-30 Listed $69,500 MLSNOW
• 2026-01-14 Price Changed $69,500 MLSNOW
• 2025-11-06 Price Changed $70,000 MLSNOW
• 2025-10-14 Price Changed $74,500 MLSNOW
• 2025-08-25 Listed $76,400 MLSNOW
• 2019-10-09 Sold (Public Records) $14,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,397 · +0.0% YoY. Source: county tax records.