Good morning, Cleveland Real Estate Investors! The Cavs may break your heart, but this market? She's cookin' like a West Side pierogi on the Fourth of July. From $1.8M luxury stunners in Rocky River to peaceful eviction playbooks (yes, really)🏀 🥟🔥

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📬 In today’s edition:

• 🧱 Cleveland ranks 5th in U.S. for oldest homes — Median age: 65 years. Value-add investors, take note.

• 🏆 $1M+ luxury home sales surged in April — Rocky River tops the list with a $1.8M sale.

• 🏢 Ten60 Bolivar apartments now leasing — Downtown CLE’s newest luxury residence opens June 1.

• 🏡 Fairfax Just Sold: 1963 E 84th St closes for $440K, further signaling buyer appetite for newer inventory near University Circle.

• 🧹 Eviction Strategy Spotlight: Ditch the court drama — cash-for-keys and communication can go further, faster.

• 🔥 Hot Property: 3003 Lincoln Blvd brings historic charm + full renovation in Cleveland Heights

By Tyler Finkler - Local Realtor & Appraiser

📰 Cleveland Market Minute

🏚️ Cleveland Has Some of the Nation’s Oldest Homes

A new Redfin report ranks Cleveland 5th among U.S. cities with the oldest housing stock—with a median home age of 65 years.

📊 Key Stats: Cleveland homes sold in 2024 had a median age of 65, nearly 30 years older than the national median (36 years).

Older homes (30+ years) sold for $205,000 median vs. $460,000 for homes 5 years or newer. Only 4% of sold homes in Cleveland were 5 years old or less.

🧱 Takeaway: Aging housing + limited new construction = unique opportunities for value-add renovations and affordable entry points—but also higher rehab costs. Investors and flippers: this is your playground.

🔗 Read More

🏆 April's Top Luxury Sales – Cuyahoga County

13 homes sold for $1M+ in April — the highest this year: 🥇 Rocky River – $1.8M

5-bed home with Tesla charger, theater room, and spa suite: 🥈 Gates Mills – $1.5M

10-acre estate, 6-car garage, dual primary suites, wine cellar: 🥉 Solon – $1.4M

💡 Takeaway: Luxury sales remain strong in elite suburbs—signaling ongoing demand in Cleveland’s upper-tier housing market.

🔗 Read More

🏢 Ten60 Bolivar Now Leasing in Downtown CLE

Downtown Cleveland’s newest luxury apartments at Ten60 Bolivar are open for leasing, with move-ins starting June 1.

📍 Location: 1060 Bolivar Rd.

💰 Price Range: Studios from $1,179/mo, 1BR from $1,672/mo, 2BR from $2,515/mo

🏊 Amenities include:

• Courtyards with pools, grilling stations, & dog parks

• Lounge, gym, coffee bar

• High-end finishes, in-unit laundry, secure entry

• This may be the last new-build downtown for a while due to tax abatement changes.

 🔗 Read More

🏡 Just Sold Spotlight – 1963 E 84th St, Cleveland, OH 44106

• Property Type: Single-Family Home

• 📍 Location: Fairfax Neighborhood, Cleveland, Ohio

• 💰 Sale Price: $440,000 (Sold May 7, 2025)

• 📏 Size: 4 beds, 3.5 baths, 2,480 sq ft

• 🏡 Lot Size: 5,663 sq ft

• 🛠️ Year Built: 2004

• 🚗 Garage: 2-car attached garage

• Buyer Agent: Hyunpil Lee (Keller Williams Greater Metropolitan Realty)

• Seller Agent: Jenny Chin (Howard Hanna - Pepper Pike)

📝 Investor Takeaway:

This 2004-built home in Fairfax sold for $177/sqft, illustrating the growing appeal of well-maintained, modern homes in Cleveland’s emerging urban neighborhoods. With features like a full basement, eat-in kitchen, soaking tub, and walk-in closets, it checks boxes for both comfort and long-term usability.

Its location near Cleveland Clinic, University Circle, and recent area revitalization efforts make it a solid pick for both end users and investors targeting stable rental income or resale potential in a tightening market.

💡 Neighborhood Insight – Fairfax, Cleveland

• Local Median Price: ~$250,000

• List Price/Sqft Median: ~$175

• Recent Sales Trend: Strong upward movement tied to medical and education sector growth

• Average Days on Market: ~45

As development and institutional investment expand in Fairfax, E 84th St homes like this are proving to be excellent comps and indicators of continued appreciation in this centrally located neighborhood.

💡 Insider’s Insight

🧹 Eviction Made Peaceful: Using Incentives to Encourage Move-Outs

A Strategic Alternative to Costly Legal Battles

Dealing with non-paying tenants is never fun — especially when rent stops and damage risk grows. While the court route is always there, smart investors are increasingly opting for softer, incentive-based eviction strategies that save time, money, and headaches.

⚖️ The Traditional Eviction Process (and Its Pitfalls)

• Step 1: Serve a 3-day notice to pay or vacate.

• Step 2: If ignored, issue a 30-day eviction notice.

• Step 3: File for eviction in court, wait for judgment.

• Step 4: Involve a sheriff or bailiff to enforce removal.

This legal process can take weeks or even months, cost hundreds in fees, and still leave you with:

• Lost rent

• Legal bills

• Property damage

• Stress

💡 A More Cooperative Approach: Try Incentives Instead

Before calling your lawyer, consider these four simple steps:

1️⃣ Be Honest (and Respectful)

Explain your situation clearly — you're rehabbing, selling, or can't sustain missed payments. Clarity creates cooperation.

2️⃣ Give Them Time

Especially for long-term tenants, offering 1–2 weeks to find another place can build goodwill and reduce resistance.

3️⃣ Help Them Move

Instead of legal threats, offer a 3-day “friendly notice” and cover a U-Haul rental. Bonus points if you help coordinate it.

4️⃣ Offer Cash for Keys 💸

Offer $200–$500 if they leave by a set date with the property clean and damage-free.
Put it in writing: “No court, no collections, just cooperation.”

✅ Why This Works

• Avoids legal fees

• Preserves the unit (less damage, cleaner exit)

• Speeds up re-renting or resale

• Protects your reputation

Most tenants don’t want court on their record — offering them a clean break can create a win-win.

🚫 When It Doesn’t Work…

Sometimes, tenants just won’t leave. If incentives fail:

• Document everything

• Follow legal notice timelines

• Consult an attorney

• Prepare for court

But start with kindness — you may never need to get there.

🧠 Final Thought

Be firm, but fair.
Tenants who can’t pay may still appreciate dignity. A little empathy (and a little cash) can be the fastest path to getting your unit back — and your cash flow back on track.

👨‍💼 Need Help Navigating Tenant Evictions the Smart Way?

📲 Tyler Finkler, Appraiser & Realtor
🔗 www.FinklerRealEstateServices.com
📞 216-217-0223
✉️ [email protected]

Whether you're deciding between legal action or offering incentives, Tyler Finkler can help you strategize a cost-effective, low-stress solution that protects your property and your peace of mind.

💥 This Week’s Hot Property

🏡 Historic Elegance Meets Modern Luxury – 3003 Lincoln Blvd, Cleveland Heights, OH

• 💰 Price: $599,000

• 📏 Size: 3,900 sq. ft.

• 🏡 Built: 1915 – Fully Renovated

• 🛏 6 Beds | 🛁 3.5 Baths

• 🚗 2-Car Detached Garage

• 🌳 Lot Size: 7,701 sq. ft.

• 🎯 Notable Features:

  1. Gourmet marble-finished kitchen with white shaker cabinets & state-of-the-art appliances

  2. Oversized dining room with a showstopping chandelier

  3. Marble fireplace, designer lighting & grand staircase with black lacquer detail

  4. Spa-inspired bathrooms with custom vanities and marble flooring

  5. Finished basement + custom laundry room

  6. Newly fenced backyard, wide-plank/refinished hardwood flooring throughout

  7. Brand new roof, windows, ductwork, HVAC, and water heater for peace of mind

📍 Location: Grant Deming’s Historic Forest Hill – moments from University Circle, Cedar Lee & Coventry Village

👉 Listing Agent: Megan Featherston – Serenity Realty

📞 216-440-4858 | MLS#: 5111696

The C.R.E.I Off-Market Deals 🔍💰

Your inside track to Cleveland’s hidden real estate deals, investor insights, and untapped opportunities.

5501 N Ridge Rd, Madison, OH 44057

• Apartment | 5 units | 4,200sf | 43,560sf lot | 1940

• Purchase Price: $325,000

• Current Income: $3,650/month

4428 Pearl Rd, Cleveland, OH 44109

• Duplex | 4b/2b | 1,553sf | 3,422sf lot | 1910

• Purchase Price: $140,000

• Current Income: $2,750/mo (Rented by the room)

• Market Income $3,950/mo (Rented by the room)

4005 E 144th St, Cleveland, OH 44128

• Duplex | 4b/2b | 2,068sf | 1928

• Purchase Price is $110,000

• Current Income is $900 + $650

454 E 260th St, Euclid, OH 44132

• SFR | 3b/2b | 1,364sf | 1942

• ARV: $165,000

• Purchase Price: $120,000

• Current Income: $1,100/mo (Section 8)

• Market Income: $1,500/mo

14475 Pease Rd Maple Heights, OH 44137

• SFR | 3b/1b | 1,436sf | 41,310sf lot | 1913

• Purchase Price: $95,000

• Current Income: $1,200/mo

• Market Income: $1,400/mo

5910 Gertrude Ave Cleveland, OH 44105

• SFR | 3b/1b | 1,500sf | 4,939sf | 1900

• Purchase Price $85,000

• Current Income is $975

• Fully renovated in 2018

For more information about off-market deals, please reply to this email or contact Tyler directly:

📞 216-217-0223
✉️ [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

Cleveland’s market continues its dynamic run. Older housing stock is setting the stage for smart renovation plays, while new construction options are drying up due to shifting tax policies. From a record number of $1M+ home sales to creative eviction strategies that protect your bottom line, this week offered powerful insights and fresh opportunities.

Whether you're buying turnkey, renovating a classic, or looking for quiet exits from tough tenant situations — this week reminded us that smart investing is all about the details.

Until next week,
Cleveland Real Estate Investors

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