🏙️ 50 Acres Up for Grabs: Cleveland Lakefront Redesign Underway

🏘️ Just Sold in Old Brooklyn: What This $147K Duplex Tells Us

July 23, 2025

Good morning, Cleveland Real Estate Investors! 

Why don’t real estate agents trust stairs?

👉 Because they’re always up to something! 🏡

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📬 In today’s edition:

  • 🏙️ 50 Acres Up for Grabs: Cleveland Lakefront Redesign Underway

  • 📊 Inventory Up, Prices Flat: What It Means for Buyers

  • 🏘️ Just Sold in Old Brooklyn: What This $147K Duplex Tells Us

By Tyler Finkler - Local Realtor & Appraiser

📰 Cleveland Market Minute

Cleveland launches search for lakefront developers

The city of Cleveland is officially seeking developers to transform up to 50 acres of its downtown lakefront into a year-round neighborhood — this time without the Cleveland Browns.

If successful, it would reorient downtown toward the water — a key component of Bibb's "Shore to Core to Shore" development framework — and create new housing, jobs, and cultural destinations in an area long occupied by surface lots and the Browns stadium.

Cleveland names four finalists to build modular homes

The city of Cleveland has selected four manufacturers as finalists in its major modular home initiative.

The companies are Module, Container Homes USA (CHUSA), ZenniHome, and Guardian Structural Technologies.

Ohio City townhomes may be stalled into 2026

Redevelopment of the Lakewood Hospital site by CASTO of Columbus will be called Lakewood Common.

Equinox Townhomes stalled since last fall due to an apparent rift among the development partnership. As a result, the townhome project is the subject of two legal actions, both filed in Cuyahoga County Common Pleas Court.

3602 Woodbridge Ave, Cleveland, OH 44109

  • 💰 Sale Price: $147,500 (Sold July 21, 2025)

  • 📏 Size: 4 beds | 🛁 2 baths | 10 total rooms

  • 🌳 Lot Size: 5,441 sq ft (0.12 acres)

  • 🛠️ Year Built: 1905

  • 🏘️ Property Type: Duplex (Multi-Family)

  • 📝 Investor Takeaway

This early-1900s duplex in Cleveland’s Clark-Fulton/Old Brooklyn area sold for $147,500, offering a strong value proposition for investors targeting Cleveland’s growing rental market. With two units, each likely featuring 2 bedrooms and 1 bath, this property provides solid cash flow potential.

The structure includes 10 total rooms, forced air heating, and a full unfinished basement for storage or potential future upgrades. Set on a 5,441 sq ft lot, the duplex sits on a quiet residential street just off Fulton Road—convenient to transit, shopping, and neighborhood redevelopment zones.

This classic aluminum-sided two-story building is over 120 years old and still structurally viable, making it an attractive target for value-add or long-term hold strategies.

🏡 Neighborhood Insight

  • 📍 Subdivision: Edwards

  • 🏫 School District: Cleveland Municipal - 1809

  • 🧾 Assessed Taxes: ~$1,494 annually

  • 💸 No HOA fees

📈 Recent Sales Nearby:

  • 3501 W 32nd St: $158,000 | 2 units | 5 beds | 2 baths

  • 3711 Woodbridge Ave: $165,000 | 2 units | 4 beds | 2 baths

  • 3437 W 32nd St: $149,900 | 2 units | 4 beds | 2 baths

📌 Notable Features

  • Fully functional duplex (2 units)

  • 10 total rooms

  • Public water & sewer

  • Concrete parking pad

  • Located east off Fulton, north of Marvin

  • Opportunity zone potential

  • Unfinished basement offers added storage or utility value

💡 Insider’s Insight

📈 What the Numbers Say: Inventory Hits Post-Pandemic Highs

After years of low supply, buyers now have more options. As of June 2025, there are 1 million+ active listings, up 28.9% year-over-year.

Inventory still trails pre-pandemic levels (down 12.9%), but the growth is promising.

Regional Breakdown:

  • South: +29.4%

  • West: +38.3%

  • Midwest: +21.3%

  • Northeast: +17.6%

⏳ Homes Are Staying on the Market Longer

Average days on market: 53 days (up 5 days YoY)

Prices:

  • National median: $440,950 (+0.2% YoY)

  • Slight price drops in the West and Midwest

  • Stability after years of spikes = buyer opportunity

🧠 Buyer Sentiment: Wary but Warming

  • Fannie Mae’s Home Purchase Sentiment Index: 69.8 (↓4 pts)

  • Top concerns: job security, rate volatility

  • But: 28% of buyers say now is a good time to buy — the highest since early 2023

💭 Should You Buy Now?

4 Key Considerations for Buyers:

  1. Choice & Leverage

  • More listings = stronger negotiation position

  1. Price Discipline

  • Look for areas with frequent price cuts or below-median pricing

  1. Timing & Rates

  • Mortgage rates are trending down slightly:

  • Average 30-year fixed = 6.90% (as of July 21)

  1. Personal Readiness

  • Are you financially stable, pre-approved, and ready to act?

✅ The Bottom Line

Inventory is finally catching up. While we're not fully in a buyer’s market, conditions are improving for those who’ve been on the sidelines. If you’re ready and watching rates, this summer may be your moment — especially in regions with rising listings and softening prices.

💼 Buy Smart This Summer with Tyler Finkler — Your Cleveland Sheriff Sale Expert

Why Smart Investors Start with Tyler:

  • 🔎 Insider Knowledge: With rising housing inventory and regional price drops, sheriff sales offer prime opportunities — Tyler guides you through the entire process, from auction bidding to title transfer.

  • 📉 Risk Management: As more distressed properties hit the market, Tyler helps you avoid common pitfalls like unpaid liens and eviction hurdles.

  • 📈 High-ROI Strategy: Inventory is up nearly 30% nationwide — Tyler spots undervalued deals and hidden gems in Cleveland’s hottest zip codes.

  • 📊 Market Insight: With homes sitting longer and prices stabilizing, now is your chance to negotiate smart. Tyler breaks down market trends to give you a competitive edge.

Tyler’s just a call away.

Let Tyler help you navigate Ohio’s new real estate regulations and secure your investment with peace of mind!

🏡 House of the Week – First Resale in Coveted Moreland Commons

📍 300 Woodridge Lane, Moreland Hills, OH 44022

  • 💰 Price: $1,850,000

  • 📏 Size: 4,506 sq. ft. above grade + 1,600 sq. ft. finished lower level

  • 🏡 Built: 2023

  • 🛏 6 Beds | 🛁 7 Baths (5 full, 2 half)

  • 🚗 Garage: 2-Car Attached Garage

  • 🌳 Lot: 9,135 sq. ft. in Moreland Commons Development

  • 🏫 School District: Orange City School District

🧘 Vibes: Classic colonial meets fresh contemporary luxury. With 10-foot ceilings, wide-plank wood floors, a designer quartz kitchen, bourbon-tasting room, and built-in firepit patio — this is turnkey, high-style living. Skip the construction wait and step right into elegance, ease, and community.

👉 Listed by: Adam Kaufman | Howard Hanna Real Estate Services

📞 216-831-7370 | ✉️ [email protected]

🛠 Tools & Resources We Recommend

  • PropStream → Lead generation + property comps

  • AirDNA → Short-term rental profitability data

  • BiggerPockets Cap Rate Guide → Know how to calculate investment ROI

  • Cleveland Housing Court Tracker → Spot eviction risks and distressed deals

  • Cleveland Real Estate Investor Facebook Group → Share deals and insights with local investors

📣 Weekly Wrap-Up

It’s official—buyers are finally catching a break. Cleveland's housing inventory is up, prices are stabilizing, and investor sentiment is warming up fast.

📈 Market Momentum:

With active listings climbing 28.9% year-over-year and homes taking longer to sell, it's clear the balance is shifting. National price growth has nearly flatlined (+0.2%), and Cleveland’s Midwest region even saw small dips—hello, negotiation power.

🏗️ Development Watch:

Big changes are brewing. The city has launched a developer search to transform 50 acres of downtown lakefront into a livable, walkable neighborhood—minus the stadium. Meanwhile, four modular home builders are now finalists in Cleveland’s push for faster, more affordable construction.

🏘️ Neighborhood Highlight:

A duplex at 3602 Woodbridge Ave just sold for $147,500—proving Cleveland’s Clark-Fulton and Old Brooklyn areas still offer solid rental cash flow in this shifting market. Ten rooms, two units, and a quiet residential block? That’s a buy-and-hold dream.

💼 Sheriff Sale Spotlight:

More inventory = more distressed opportunities. Tyler Finkler’s sheriff sale strategy is built for this market—he helps investors avoid hidden costs, unlock ROI, and act fast while prices are soft and competition’s cautious.

🌟 Luxury Hit of the Week:

Step into Moreland Hills luxury with the first resale in Moreland Commons:

300 Woodridge Lane — Listed at $1.85M, this turnkey 6-bed colonial stunner offers 4,500+ sq ft of above-grade style, a bourbon tasting room, and a firepit patio worth writing home about. Skip the wait—just move in.

🧠 Investor Takeaway:

We’re not in a full buyer’s market yet, but this summer feels like a pivot point. From stalled townhome projects to ready-to-roll lakefront concepts, Cleveland’s evolving fast—and the smart money is moving now.

Until next week,

Cleveland Real Estate Investors


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