Good morning, Cleveland Real Estate Investors! The sun’s out, the grills are on, and this market? It’s sizzling harder than your seatbelt buckle after a Lake Erie beach day 🕶️🌭📊

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📬 In today’s edition:

• 🏘 Flats transformation underway — A vibrant new neighborhood emerges on Scranton Peninsula.

• 💼 $7M Orange Village office sale — Top commercial transaction in Cuyahoga County last month.

• 🏡 Just Sold: 4281 E 134th St for $165K — Solid century home with upside in Union–Miles.

• 🧠 Insider’s Guide: How to Value Your Home Like a Pro — Run comps, adjust for condition, and project ARV with confidence.

• 🏠 House of the Week: $2.15M Midcentury gem in Pepper Pike with Miami-style backyard oasis.

By Tyler Finkler - Local Realtor & Appraiser

📰 Cleveland Market Minute

🕵️‍♂️ Cleveland’s best kept secret: Vibrant new neighborhood pops up in the Flats

CLEVELAND, Ohio - New apartments pop up all the time. But it’s rare for an entire neighborhood to take shape at once - especially where there was no residential presence previously.

That’s what’s happening on the Scranton Peninsula in the Flats.

🔗 Read More

💰 Orange office sells for $7 million

ORANGE VILLAGE, Ohio -- An office building in Orange was the top commercial building sale in Cuyahoga County in April.

A 20,025-square-foot single-story building at 3755 Orange Place sold for $7 million on April 25, making it t

🔗 Read More

🏪 Former Mayfield Heights Rite Aid building sells for $2.4 million, set to become day care

MAYFIELD HEIGHTS, Ohio -- A former Rite Aid is set to become a day care.

The Rite Aid located at 1233 SOM Center Road was purchased for $2.4 million on April 4, making it the third largest commercial sale in Cuyahoga County last month

 🔗 Read More

🏡 Just Sold Spotlight – 4281 E 134th St, Cleveland, OH 44105

• Property Type: Single-Family Home

• 📍 Location: Union–Miles Neighborhood, Cleveland, Ohio

• 💰 Sale Price: $165,000 (Sold May 22, 2025)

• 🛏 Size: 4 beds | 🛁 3 baths

• 🏡 Lot Size: 4,800 sq ft

• 🛠️ Year Built: 1914

• 🚗 Garage: 1-car detached garage

• Buyer Agent: Chris Case (Keller Williams Greater Metropolitan Realty)

• Seller Agent: Paula Zampallo Ramirez (EXP Realty, LLC)

📝 Investor Takeaway:

This 1914 colonial in Union–Miles sold for a budget-friendly $165K, reflecting a 34% drop from its original list price. With three full bathrooms, a finished basement, and central air, it offers strong potential as a rental or value-add flip. The finished basement adds living flexibility, and updated mechanicals support long-term functionality.

For investors, this is a classic Cleveland value play: older home, solid bones, and ripe for cosmetic upgrades to boost rents or resale.

💡 Neighborhood Insight – Union–Miles, Cleveland

Local Median Price: ~$145,000

Recent Sales Trend: Rising slowly with investor activity

Average Days on Market: ~40–50 days

Notable Feature: Proximity to Garfield Park Reservation & steady Section 8 demand

This sale sets a compelling comp for well-kept century homes in Cleveland’s affordable east side neighborhoods.

💡 Insider’s Insight

How to Value a Property Like a Pro — Before and After Renovations

Whether you’re flipping, refinancing, or just curious if your kitchen upgrade is paying off, knowing how to run comps (comparable sales) is one of the most valuable skills an investor can have.

Here’s how to break it down:

🔍 Step 1: Find Your Comps

A “comp” is a property similar to yours that recently sold. But not just any old house will do — the best comps are:

• In the same neighborhood (or within 1 mile)

• Sold within the last 6 months

• Similar in size (within ±300 sq ft)

• Same style (ranch ≠ colonial)

• Similar condition and upgrades

💰 Step 2: Adjust Like an Appraiser

Once you find 3–5 solid comps, tweak the numbers:

• Knock 5–10% off for lower condition

• Add value for upgrades like new kitchens, decks, or garages

• Adjust for time if the comp sold in a hotter or cooler market

• Factor in location influences (a park view > street noise)

🛠️ Step 3: Estimate ARV (After-Repair Value)

Want to know what your place will be worth after you drop $50K into it?

• Find comps that represent your dream finished product

• Compare what they have that you don’t — and what it’ll cost to match them

• Make sure the value gap justifies the renovation

Example:

• As-is value: $250K

• Renovated comps: $325K

• Reno cost: $50K

• Equity built: ~$25K (minus holding/transaction costs)

Final Word:
Zillow’s a start, but it doesn’t know if your basement smells like regret or your neighbor has a rooster. Always use local comps and if in doubt — call in a pro.

🧮 Want to Value Your Property Like a Pro? Use Comps the Right Way!

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

🏡 House of the Week – Midcentury Marvel in Pepper Pike

2471 Snowberry Lane, Pepper Pike, OH 44124

• 💰 Price: $2,150,000

• 📏 Size: 4,559 sq. ft. + 798 sq. ft. finished lower level

• 🏡 Built: 1968

• 🛏 5 Beds | 🛁 4.5 Baths

• 🚗 2-Car Attached Garage

• 🌳 Lot Size: 1.36 Acres

• 🏫 School District: Orange City School District

🧘 Vibes: Midcentury charm meets Miami resort energy. Perfect for luxury lovers, design aficionados, and pool-party hosts alike.

👉 Listed by: Jen Waters | The Young Team – Keller Williams Greater Metropolitan

📞 330-283-0873 | ✉️ [email protected]

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 real estate beat doesn’t miss a step. From quiet flips in Union–Miles to $2M modern marvels in Pepper Pike, opportunity is knocking in every zip code. Renovators are circling aging inventory like hawks, while commercial sales are reshaping the suburban skyline — daycare conversions, anyone?

The data keeps proving it: value lives in the details. Whether you're comping like an appraiser, cash-flowing off-market deals, or hunting that perfect ARV sweet spot, this week was all about investing smarter — not harder.

See you next week,
Cleveland Real Estate Investors

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