1523 Hillcrest Rd · East Cleveland, OH 44118

$220,975

4 bd · 2.0 ba · 2,924 sqft · MultiFamily public records · 70 Days on market

Built 1923 6,242 sqft lot Est $173k · 28% over

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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 +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +7.1/10.0
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0
• 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

LOOK at this duplex! Great property! Units have been renovated and ready for tenants! Down unit has 3 bedrooms, Large living room, Dining Room, Kitchen and Full bath with access to large front porch! Up unit has 3 bedrooms, one full bath, Large living room, dining room and private upper porch! Attic space is large and nice! Can be third unit easily! 2 car garage! Nice Lot! Glassblock windows in basement! A handful of newer windows. Grand entranceway! POS to be ordered upon contract. Selling As Is. This will not last long! Contact me today to see or with questions.

Key facts

• Spacious lower unit
• Expansive upper unit
• Full basement

Tags

• FULLY RENOVATED DUPLEX
• SPACIOUS LOWER UNIT
• EXPANSIVE UPPER UNIT
• FULL BASEMENT
• 2 CAR DETACHED GARAGE
• VINYL SIDING

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: 2 stories; Multi-unit property (two units); Above-grade finished area approximately 2,924
• Construction: Aluminum and vinyl siding; Asphalt/fiberglass roof
• Exterior features: Driveway; Detached garage

Interior

• Bedrooms: One unit with 5 bedrooms; One unit with 3 bedrooms
• Bathrooms: Two full bathrooms (building total); Each unit includes 1 bathroom
• 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/?-bath units multifamily listed at $221k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive. Per door: $343/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $221k).
• Recommended offer: $208k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+5.7%/yr); 253 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• This rent runs 41% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 + 5.7% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $221k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $207,716 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 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 1923 — 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: 1.21% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.32%
• DSCR: 1.59
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $172,516
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1617 Hillcrest Rd	0.06mi	4/2.0	2,766 (-5%)	14mo	$140,000	$51	76
1612 Hillcrest Rd	0.07mi	4/2.0	3,078 (+5%)	20mo	$176,000	$57	72
1682 Eddington Rd	0.21mi	5/3.0 (+1)	3,046 (+4%)	12mo	$286,525	$94	64
1643 Hillcrest Rd	0.12mi	5/3.0 (+1)	2,729 (-7%)	21mo	$160,000	$59	57
1676 Coventry Rd	0.33mi	5/2.0 (+1)	3,063 (+5%)	19mo	$234,591	$77	56

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: 6.2%
• Equity multiple: 1.25×
• Total profit: $15,355
• Equity at exit: $32,948

10-year hold

• IRR: 17.8%
• Equity multiple: 2.65×
• Total profit: $101,931
• Equity at exit: $19,106

Cash invested: $61,873 (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: 253
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,673 high
• Mortgage (P&I): −$1,159
• Tax from tax record: −$174 /mo · $2,091/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $687

Break-even live

Break-even rent $1,804

Max offer price $220,975

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,674
Total (2 units)			$2,673

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: $55,244
• Closing costs: $6,629
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1796 Cumberland Rd Cleveland Heights, OH	4.0	2.5	2100	$1,800	$0.86	17d	1	0.57mi
3355 Desota Ave Cleveland, OH	5.0	2.0	2540	$2,031	$0.80	7d	1	0.92mi
13108 Cedar Rd Cleveland, OH	4.0	2.0	2116	$1,500	$0.71	23d	1	1.12mi
13108 Cedar Rd Unit 13108 Cleveland Heights, OH	4.0	2.0	2116	$1,450	$0.69	23d	1	1.12mi
12314 Mayfield Rd Cleveland, OH	3.0	2.5	2033	$3,859	$1.90	3d	9	1.19mi
2460 Euclid Heights Blvd Cleveland, OH	5.0	2.0	2216	$600	$0.27	16d	1	1.22mi

Listing history 28 events

1. 2026-06-18
   days on market $220,975 Active 70 DOM
2. 2026-06-17
   days on market $220,975 Active 69 DOM
3. 2026-06-16
   days on market $220,975 Active 68 DOM
4. 2026-06-15
   days on market $220,975 Active 67 DOM
5. 2026-06-13
   days on market $220,975 Active 65 DOM
6. 2026-06-09
   days on market $220,975 Active 61 DOM
7. 2026-06-08
   days on market $220,975 Active 60 DOM
8. 2026-06-07
   pricedays on market $220,975 Active 59 DOM
9. 2026-06-05
   days on market $234,900 Active 56 DOM
10. 2026-06-03
    days on market $234,900 Active 55 DOM
11. 2026-06-02
    days on market $234,900 Active 54 DOM
12. 2026-06-01
    days on market $234,900 Active 53 DOM
13. 2026-05-31
    days on market $234,900 Active 52 DOM
14. 2026-05-11
    price $234,900
15. 2026-04-30
    status Active
16. 2026-04-28
    status Pending
17. 2026-04-07
    listed $240,000 Active
18. 2024-10-25
    soldstatus $109,500 Closed 570-char remark

    Show marketing remark (570 chars)

    LOOK at this duplex! Great property! Units have been renovated and ready for tenants! Down unit has 3 bedrooms, Large living room, Dining Room, Kitchen and Full bath with access to large front porch! Up unit has 3 bedrooms, one full bath, Large living room, dining room and private upper porch! Attic space is large and nice! Can be third unit easily! 2 car garage! Nice Lot! Glassblock windows in basement! A handful of newer windows. Grand entranceway! POS to be ordered upon contract. Selling As Is. This will not last long! Contact me today to see or with questions.

19. 2024-09-04
    status Pending 570-char remark

    Show marketing remark (570 chars)

    LOOK at this duplex! Great property! Units have been renovated and ready for tenants! Down unit has 3 bedrooms, Large living room, Dining Room, Kitchen and Full bath with access to large front porch! Up unit has 3 bedrooms, one full bath, Large living room, dining room and private upper porch! Attic space is large and nice! Can be third unit easily! 2 car garage! Nice Lot! Glassblock windows in basement! A handful of newer windows. Grand entranceway! POS to be ordered upon contract. Selling As Is. This will not last long! Contact me today to see or with questions.

20. 2024-08-28
    historical Contingent 570-char remark

    Show marketing remark (570 chars)

    LOOK at this duplex! Great property! Units have been renovated and ready for tenants! Down unit has 3 bedrooms, Large living room, Dining Room, Kitchen and Full bath with access to large front porch! Up unit has 3 bedrooms, one full bath, Large living room, dining room and private upper porch! Attic space is large and nice! Can be third unit easily! 2 car garage! Nice Lot! Glassblock windows in basement! A handful of newer windows. Grand entranceway! POS to be ordered upon contract. Selling As Is. This will not last long! Contact me today to see or with questions.

21. 2024-08-24
    listed $150,000 Active 570-char remark

    Show marketing remark (570 chars)

    LOOK at this duplex! Great property! Units have been renovated and ready for tenants! Down unit has 3 bedrooms, Large living room, Dining Room, Kitchen and Full bath with access to large front porch! Up unit has 3 bedrooms, one full bath, Large living room, dining room and private upper porch! Attic space is large and nice! Can be third unit easily! 2 car garage! Nice Lot! Glassblock windows in basement! A handful of newer windows. Grand entranceway! POS to be ordered upon contract. Selling As Is. This will not last long! Contact me today to see or with questions.

22. 2023-10-09
    historical
23. 2023-09-07
    historical Contingent
24. 2023-06-10
    listed $165,000 Active
25. 2005-10-12
    soldstatus $140,000
26. 2005-07-22
    soldstatus $64,000
27. 2005-05-16
    listed $74,900
28. 1999-12-02
    soldstatus $82,500

ⓘ 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: $2,091 · $174/mo
• Projected year-2 tax: $2,769 · $231/mo
• Expected delta: +$678/yr (+$57/mo · 32.4%)

ⓘ 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: $32,076
• − Mortgage interest: −$12,378
• − Property taxes: −$2,091
• − Insurance: −$1,105
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − Depreciation: −$6,428
• Taxable income: $4,942
• Est. tax owed @ 24.0%: −$1,186
• After-tax cash flow: $7,053/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): 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

+184.7% since first listed

15 events — show timeline

• 2026-05-11 Price Changed $234,900 MLSNOW
• 2026-04-30 Relisted — MLSNOW
• 2026-04-28 Pending — MLSNOW
• 2026-04-07 Listed $240,000 MLSNOW
• 2024-10-25 Sold (MLS) $109,500 MLSNOW
• 2024-09-04 Pending — MLSNOW
• 2024-08-28 Contingent — MLSNOW
• 2024-08-24 Listed $150,000 MLSNOW
• 2023-10-09 Listing Removed — MLSNOW
• 2023-09-07 Contingent — MLSNOW
• 2023-06-10 Listed $165,000 MLSNOW
• 2005-10-12 Sold (Public Records) $140,000 Public Records
• 2005-07-22 Sold (Public Records) $64,000 Public Records
• 2005-05-16 Listed $74,900 MLSNOW
• 1999-12-02 Sold (Public Records) $82,500 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,091 · +0.0% YoY. Source: county tax records.