16304 Nela View Rd · East Cleveland, OH 44112

$160,000

6 bd · 2.0 ba · 2,042 sqft · MultiFamily public records · 41 Days on market

Built 1924 4,321 sqft lot Est $169k · 6% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• 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

Spacious double. Great investment property. Lots of wood flooring throughout. Located close to shopping, schools, and transportation. All FannieMae properties offer First Look period to Owner Occupant. Buyers & Agents must sign OwnerOccupant Certificate found in MLS Attachment in order to make offer.

Key facts

• 4,321 sq ft lot
• Parking
• Built 1924

Property features AI

Finance

• Financial info: Two leased units with current rents: one at $1,415 and one at $1,329

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Public water; Public sewer; Has heating
• Home design: 2-story building; Single building on the lot
• Construction: Vinyl siding; Shingle roof; Built year from public records
• Exterior features: Small lot (approx. 0.0992 acres)

Interior

• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Forced-air heating
• Interior features: Unfinished basement; Updated/remodeled condition; 12 total rooms

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $612/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.

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: schools F, 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.
• Market conditions: Rents rising fast (+5.2%/yr); 99 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,830/mo this rent would consume 118% 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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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 $40k; list at $160k implies a 300% 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 $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.77% ✓
• Cap rate: 15.48%
• Cash-on-cash: 32.80%
• DSCR: 2.46
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $169,486
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16304 Nela View Rd	0.00mi	6/2.0	2,042 (0%)	1mo	$169,500	$83	99
890-892 Ravine Dr	0.38mi	6/2.0	2,088 (+2%)	10mo	$150,000	$72	70

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: 30.3%
• Equity multiple: 2.30×
• Total profit: $58,327
• Equity at exit: $23,857

10-year hold

• IRR: 38.7%
• Equity multiple: 4.98×
• Total profit: $178,095
• Equity at exit: $13,834

Cash invested: $44,800 (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: 99
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,830 high
• Mortgage (P&I): −$839
• Tax from tax record: −$106 /mo · $1,266/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $1,224

Break-even live

Break-even rent $1,280

Max offer price $160,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,830
Total (2 units)			$2,830

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	43d	1	0.48mi
1853 Noble Rd Cleveland, OH	7.0	2.0	2387	$600	$0.25	43d	1	0.55mi
1131 Cleveland Heights Blvd Cleveland, OH	5.0	2.0	1500	$2,550	$1.70	1d	1	0.93mi
3777 Montevista Rd Cleveland, OH	5.0	2.0	2050	$2,900	$1.41	1d	1	1.14mi

Listing history 7 events

1. 2026-05-20
   status Pending
2. 2026-04-20
   historical Contingent
3. 2026-04-09
   listed $160,000 Active
4. 2024-01-10
   soldstatus $40,000
5. 2013-10-13
   soldstatus $13,900 307-char remark

   Show marketing remark (307 chars)

   Spacious double. Great investment property. Lots of wood flooring throughout. Located close to shopping, schools, and transportation. All FannieMae properties offer First Look period to Owner Occupant. Buyers & Agents must sign OwnerOccupant Certificate found in MLS Attachment in order to make offer.

6. 2013-08-05
   listed $13,900 307-char remark

   Show marketing remark (307 chars)

   Spacious double. Great investment property. Lots of wood flooring throughout. Located close to shopping, schools, and transportation. All FannieMae properties offer First Look period to Owner Occupant. Buyers & Agents must sign OwnerOccupant Certificate found in MLS Attachment in order to make offer.

7. 2000-10-02
   soldstatus $53,800

ⓘ 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: $1,266 · $106/mo
• Projected year-2 tax: $1,881 · $157/mo
• Expected delta: +$615/yr (+$51/mo · 48.6%)

ⓘ 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 3/10 Moderate 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: $33,960
• − Mortgage interest: −$8,962
• − Property taxes: −$1,266
• − Insurance: −$800
• − Repairs & maintenance: −$2,717
• − Management: −$2,717
• − Depreciation: −$4,655
• Taxable income: $12,843
• Est. tax owed @ 24.0%: −$3,082
• After-tax cash flow: $11,611/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

+197.4% since first listed

7 events — show timeline

• 2026-05-20 Pending — MLSNOW
• 2026-04-20 Contingent — MLSNOW
• 2026-04-09 Listed $160,000 MLSNOW
• 2024-01-10 Sold (Public Records) $40,000 Public Records
• 2013-10-13 Sold (MLS) $13,900 MLSNOW
• 2013-08-05 Listed $13,900 MLSNOW
• 2000-10-02 Sold (Public Records) $53,800 Public Records

Property tax history

-2.8%/yr

Latest (2025): $1,266 · +90.8% YoY. Source: county tax records.