1246 E 146th St · East Cleveland, OH 44112

$149,900

4 bd · 2.0 ba · 2,112 sqft · MultiFamily public records · 26 Days on market

Built 1921 3,885 sqft lot $71/sqft · 330% above area

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• 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

Turnkey, income producing duplex with both units occupied and generating $2,200/month in gross rent. This 2-story colonial offers a practical up/down layout with separate entrances, solid mechanicals (forced air), and a full basement (1,056 sq ft) for storage and utility access. Built in 1921 with approximately 2,112 sq ft of total living space, the property features 4 bedrooms and 2 full baths across two units. Exterior includes a covered front porch, second-floor balcony, vinyl siding, and a freshly paved driveway with off-street parking. No garage keeps maintenance simple and expenses lower. Condition is consistent with a stabilized rental—functional, not flashy. Positioned for inv

Key facts

• Covered front porch
• Second-floor balcony
• Full basement

Tags

• INCOME PRODUCING DUPLEX
• SEPARATE ENTRANCES
• FULL BASEMENT
• COVERED FRONT PORCH
• SECOND-FLOOR BALCONY
• VINYL SIDING

Property features AI

Finance

• Financial info: Each of two units is leased and rents for $1,100 (actual rent reported)

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public sewer; Public water
• Home design: 3-story building; Faces east; Multifamily property with 1 building
• Construction: Built (year from public records); Aluminum and vinyl siding; Asphalt shingle roof; Above-grade finished area approximately 2,112
• Exterior features: Public sewer; Public water

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating
• Interior features: Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $742 ($9k/yr) — positive. Per door: $371/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 17.4% in East Cleveland — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 101 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,441 units permitted in Cuyahoga County in 2024 (700 in 5+ unit buildings).
• At $2,127/mo this rent would consume 89% 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 $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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 29y 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 $67k; list at $150k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.42% ✓
• Cap rate: 12.23%
• Cash-on-cash: 21.22%
• DSCR: 1.94
• GRM: 5.9

CMA / ARV

• ARV (median comp): $34,858
• List price: $149,900
• Delta: 330.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14111 Savannah Ave	0.55mi	4/2.0	1,924 (-9%)	2mo	$34,000	$18	58
14520 Strathmore Ave	0.46mi	5/3.0 (+1)	2,220 (+5%)	9mo	$130,000	$59	54
14004 Savannah Ave	0.58mi	4/2.0	1,996 (-6%)	13mo	$40,000	$20	53
1304 E 134th St	0.53mi	4/2.0	2,306 (+9%)	8mo	$105,000	$46	53
13428 Hartford Rd	0.64mi	4/2.0	1,988 (-6%)	9mo	$34,000	$17	53
1320 E 142nd	0.24mi	4/2.0	2,392 (+13%)	21mo	$50,000	$21	49
14310 Potomac Ave	0.59mi	5/2.0 (+1)	1,982 (-6%)	12mo	$36,000	$18	47
14012 Scioto Ave	0.69mi	5/3.0 (+1)	2,209 (+5%)	6mo	$95,000	$43	46
13436 Hartford Rd	0.63mi	4/2.0	1,920 (-9%)	11mo	$89,500	$47	46

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: 16.0%
• Equity multiple: 1.66×
• Total profit: $27,675
• Equity at exit: $22,351

10-year hold

• IRR: 26.1%
• Equity multiple: 3.50×
• Total profit: $105,108
• Equity at exit: $12,961

Cash invested: $41,972 (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 44112

• Rents YoY: 5.2%
• Active inventory: 101
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,127 high
• Mortgage (P&I): −$786
• Tax from tax record: −$90 /mo · $1,075/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $742

Break-even live

Break-even rent $1,187

Max offer price $149,900

Occupancy floor 60%

Sensitivity live

Price	-10% $827	-5% $785	+0% $742	+5% $700	+10% $657
Rent	-10% $574	-5% $658	+0% $742	+5% $826	+10% $910
Rate	-1.0pp $818	-0.5pp $780	base $742	+0.5pp $703	+1.0pp $664

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,128
Total (2 units)			$2,127

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16000 Terrace Rd Cleveland, OH	1.0–3.0	1.0–2.0	1000	$1,210	$1.21	3d	39	0.75mi
12819 Edmonton Ave Cleveland, OH	4.0	1.0	1423	$1,795	$1.26	17d	1	0.91mi
15801 Hazel Rd Cleveland, OH	3.0	1.5	1908	$1,550	$0.81	17d	1	0.99mi
910 Dresden Rd Cleveland, OH	4.0	2.0	1839	$1,800	$0.98	17d	1	1.00mi
821 Nela View Rd Cleveland, OH	4.0	2.5	2178	$2,100	$0.96	9d	1	1.26mi
571 E 115th St Cleveland, OH	4.0	2.0	2220	$1,808	$0.81	17d	1	1.29mi
651 E 115th St Cleveland, OH	4.0	2.0	1550	$1,800	$1.16	22d	1	1.31mi
983 Greyton Rd Cleveland, OH	3.0	2.0	1457	$1,495	$1.03	17d	1	1.34mi
1024 Greyton Rd Cleveland, OH	5.0	2.5	1800	$2,500	$1.39	45d	1	1.34mi
3430 Winsford Rd Cleveland, OH	4.0	1.5	1800	$1,590	$0.88	17d	1	1.43mi

Listing history 22 events

1. 2026-06-21
   days on market $149,900 Active 26 DOM
2. 2026-06-18
   days on market $149,900 Active 23 DOM
3. 2026-06-17
   days on market $149,900 Active 22 DOM
4. 2026-06-16
   days on market $149,900 Active 21 DOM
5. 2026-06-15
   days on market $149,900 Active 20 DOM
6. 2026-06-13
   days on market $149,900 Active 18 DOM
7. 2026-06-13
   days on market $149,900 Active 17 DOM
8. 2026-06-09
   days on market $149,900 Active 14 DOM
9. 2026-06-08
   days on market $149,900 Active 13 DOM
10. 2026-06-07
    days on market $149,900 Active 12 DOM
11. 2026-06-05
    days on market $149,900 Active 9 DOM
12. 2026-06-03
    days on market $149,900 Active 8 DOM
13. 2026-06-02
    status $149,900 Active 7 DOM
14. 2026-05-04
    status Pending 1080-char remark
15. 2026-04-27
    listed $149,900 Active 1080-char remark
16. 2008-03-26
    soldstatus $67,400
17. 1998-09-04
    soldstatus $57,000
18. 1998-02-21
    historical
19. 1997-10-21
    listed $55,000
20. 1997-07-21
    soldstatus $32,000
21. 1989-02-24
    soldstatus $32,400
22. 1980-12-16
    soldstatus $18,000

ⓘ 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: $1,075 · $90/mo
• Projected year-2 tax: $1,707 · $142/mo
• Expected delta: +$632/yr (+$53/mo · 58.8%)

ⓘ 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 · 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: $25,524
• − Mortgage interest: −$8,397
• − Property taxes: −$1,075
• − Insurance: −$750
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − Depreciation: −$4,361
• Taxable income: $6,858
• Est. tax owed @ 24.0%: −$1,646
• After-tax cash flow: $7,260/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: 32,312
• 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

+732.8% since first listed

10 events — show timeline

• 2026-06-02 Relisted — MLSNOW
• 2026-05-04 Pending — MLSNOW
• 2026-04-27 Listed $149,900 MLSNOW
• 2008-03-26 Sold (Public Records) $67,400 Public Records
• 1998-09-04 Sold (Public Records) $57,000 Public Records
• 1998-02-21 Listing Removed — MLSNOW
• 1997-10-21 Listed $55,000 MLSNOW
• 1997-07-21 Sold (Public Records) $32,000 Public Records
• 1989-02-24 Sold (Public Records) $32,400 Public Records
• 1980-12-16 Sold (Public Records) $18,000 Public Records

Property tax history

-1.3%/yr

Latest (2025): $1,075 · +0.0% YoY. Source: county tax records.