2245 Bellfield · Cleveland Heights, OH 44106

$334,900

4 bd · 2.0 ba · 2,534 sqft · MultiFamily public records · 64 Days on market

Built 1900 5,662 sqft lot Est $274k · 22% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.5/5.0
• Rent growth +3.6/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• 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: 3 units. confirmed

Listing remarks

Discover a prime investment opportunity in the heart of Cleveland Heights with this income-generating triplex. Built in 1900, the property features three units across three floors, offering a total of five bedrooms and three full bathrooms. The second-floor unit is currently tenant-occupied, and a new lease is in place beginning in June for one year at $1,450 per month, providing immediate rental income. The first and third-floor units are vacant, offering additional income potential or flexibility for owner occupancy. Each unit includes well-proportioned living and dining areas, ample natural light, and functional kitchens, making them attractive to prospective tenants. Additional features

Key facts

• Off street parking
• 5,662 sq ft lot
• 2 garage spots

Tags

• INCOME GENERATING TRIPLEX
• FULL BASEMENT WITH LAUNDRY
• DETACHED TWO CAR GARAGE
• OFF STREET PARKING

Property features AI

Finance

• Financial info: Gross income reported at $9,999; Owner pays water and sewer; tenants pay all utilities
• HOA & community: Nearby amenities: medical services, park, shopping

Exterior

• Parking: Detached garage (2 car spaces)
• Utilities: Public water; Public sewer
• Home design: Wood-sided construction; Asphalt roof
• Construction: Wood siding; Asphalt roof
• Exterior features: Public water and public sewer

Interior

• Bedrooms: One-bedroom unit; Two-bedroom unit (one unit leased through May 31, 2026); Two-bedroom unit
• Bathrooms: Three full bathrooms total; Each rental unit has one bathroom
• Heating & cooling: Forced air gas heating
• Interior features: Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $335k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $763/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $335k).
• Recommended offer: $315k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.5% 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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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 $6,034/mo this rent would consume 168% 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 $2k of loan paydown is wiped out by about $10k 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 + 4.2% rent growth), your $94k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $189k; list at $335k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $314,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1900 — 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: 1.80% ✓
• Cap rate: 14.49%
• Cash-on-cash: 29.29%
• DSCR: 2.30
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $273,672
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2320 Bellfield Ave	0.15mi	5/3.0 (+1)	2,358 (-7%)	1mo	$255,000	$108	72
2290-2292 S Overlook Rd	0.19mi	5/3.5 (+1)	2,356 (-7%)	9mo	$325,000	$138	61
2549 Kendall Rd	0.64mi	4/2.0	2,335 (-8%)	6mo	$169,900	$73	52

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: 25.2%
• Equity multiple: 2.06×
• Total profit: $99,207
• Equity at exit: $49,935

10-year hold

• IRR: 33.7%
• Equity multiple: 4.27×
• Total profit: $306,426
• Equity at exit: $28,956

Cash invested: $93,772 (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: 13.9×

Monthly cashflow live

• Estimated rent: $6,034 medium
• Mortgage (P&I): −$1,756
• Tax from tax record: −$582 /mo · $6,985/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,267
• Net cashflow: $2,289

Break-even live

Break-even rent $3,137

Max offer price $334,900

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$6,033
Total (3 units)			$6,034

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: $83,725
• Closing costs: $10,047
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2280 Grandview Ave Cleveland, OH	5.0	1.5	2500	$2,000	$0.80	7d	1	0.05mi
2460 Euclid Heights Blvd Cleveland, OH	5.0	2.0	2216	$600	$0.27	16d	1	0.37mi
2560 N Moreland Blvd Cleveland, OH	2.0–3.0	2.0–3.5	1800	$4,100	$2.28	1d	1	0.69mi
2580 Overlook Rd Cleveland, OH	3.0	1.0–2.0	1125	$1,740	$1.55	1d	12	0.71mi
12314 Mayfield Rd Cleveland, OH	3.0	2.5	2033	$3,859	$1.90	3d	9	0.74mi
10730 Euclid Ave Cleveland, OH	3.0	1.0–3.0	1237	$6,270	$5.07	2d	22	0.97mi
13108 Cedar Rd Cleveland, OH	4.0	2.0	2116	$1,500	$0.71	23d	1	1.35mi
13108 Cedar Rd Unit 13108 Cleveland Heights, OH	4.0	2.0	2116	$1,450	$0.69	23d	1	1.36mi
1641 Coventry Rd Cleveland, OH	3.0	1.0	1848	$1,200	$0.65	16d	1	1.36mi

Listing history 30 events

1. 2026-06-18
   days on market $334,900 Active 64 DOM
2. 2026-06-17
   days on market $334,900 Active 63 DOM
3. 2026-06-16
   days on market $334,900 Active 62 DOM
4. 2026-06-15
   days on market $334,900 Active 61 DOM
5. 2026-06-13
   days on market $334,900 Active 59 DOM
6. 2026-06-09
   days on market $334,900 Active 55 DOM
7. 2026-06-08
   days on market $334,900 Active 54 DOM
8. 2026-06-07
   days on market $334,900 Active 53 DOM
9. 2026-06-05
   remarks 699-char remark
10. 2026-06-05
    days on market $334,900 Active 50 DOM
11. 2026-06-03
    days on market $334,900 Active 49 DOM
12. 2026-06-02
    days on market $334,900 Active 48 DOM
13. 2026-06-01
    days on market $334,900 Active 47 DOM
14. 2026-05-31
    days on market $334,900 Active 46 DOM
15. 2026-05-18
    price $334,900
16. 2026-04-30
    price $349,900
17. 2026-04-15
    listed $359,900 Active
18. 2026-03-24
    historical
19. 2025-09-25
    listed $379,000 Active
20. 2025-08-11
    historical $650
21. 2025-07-20
    listed $650
22. 2025-06-13
    historical $650
23. 2025-05-13
    listed $650
24. 2023-06-27
    historical
25. 2005-03-27
    historical
26. 2004-09-27
    listed $700
27. 2003-08-20
    soldstatus $188,600
28. 2003-04-23
    soldstatus $188,600
29. 2003-02-12
    listed $179,900
30. 1999-12-01
    soldstatus $130,000

ⓘ 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: $6,985 · $582/mo
• Projected year-2 tax: $6,985 · $582/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 7 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: $72,408
• − Mortgage interest: −$18,760
• − Property taxes: −$6,985
• − Insurance: −$1,674
• − Repairs & maintenance: −$5,793
• − Management: −$5,793
• − Depreciation: −$9,743
• Taxable income: $23,661
• Est. tax owed @ 24.0%: −$5,679
• After-tax cash flow: $21,789/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

+157.6% since first listed

16 events — show timeline

• 2026-05-18 Price Changed $334,900 MLSNOW
• 2026-04-30 Price Changed $349,900 MLSNOW
• 2026-04-15 Listed $359,900 MLSNOW
• 2026-03-24 Listing Removed — MLSNOW
• 2025-09-25 Listed $379,000 MLSNOW
• 2025-08-11 Rental Removed $650 BUILDIUM
• 2025-07-20 Listed for Rent $650 BUILDIUM
• 2025-06-13 Rental Removed $650 BUILDIUM
• 2025-05-13 Listed for Rent $650 BUILDIUM
• 2023-06-27 Rental Removed — BUILDIUM
• 2005-03-27 Listing Removed — MLSNOW
• 2004-09-27 Listed $700 MLSNOW
• 2003-08-20 Sold (Public Records) $188,600 Public Records
• 2003-04-23 Sold (MLS) $188,600 MLSNOW
• 2003-02-12 Listed $179,900 MLSNOW
• 1999-12-01 Sold (Public Records) $130,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $6,985 · -2.1% YoY. Source: county tax records.