Good morning, Cleveland Real Estate Investors!

Don’t keep us a secret: Share the email with friends (copy URL here)​

📬 In today’s edition:

• 🏦 The 15-year just crossed 6% for the first time this cycle here's what that signals

• 🏘️ Nine Northeast Ohio counties are reappraising this summer here's what the numbers are actually saying

• 🔑 Quartz kitchen, new roof, updated mechanicals, oversized lot what fully renovated looks like under $200K

📰 Cleveland Market Minute

Owner of 925 Euclid wins more time

Akron-based Kenmore Construction Co. has two big jobs in front of it. One is the multiyear reconstruction of Downtown Cleveland’s Central Interchange on Interstate 90 for $329 million. The other is to build a new asphalt plant for up to $20 million so it can pave the interchange’s new lanes and ramps.

According to plans submitted to Cleveland’s Building Department last week, the location for that new asphalt plant is a roughly 6-acre site at the south end of Cleveland’s Slavic Village neighborhood, near where it borders Newburgh Heights and Cuyahoga Heights.

🔗 Read More

Cosm tops out in Gateway District

On Friday, Cosm celebrated the structural completion of a new 100-foot, 12k-resolution LED dome in Downtown Cleveland’s Gateway District. The “shared-reality” entertainment venue, developed by Bedrock, will stream sports games and events for live audiences.

The news comes only two months after NEOtrans reported that crews had begun vertical construction on the 70,000-square-foot structure, located at the northeast corner of East 4th Street and Huron Road.

🔗 Read More

Sherwin-Williams pursues HQ2

In the weeks preceding Sherwin-Williams’ ceremonial ribbon cutting May 11 for its new 36-story headquarters tower in Downtown Cleveland, the company’s executives took notice.

The outcome of that filling-out process was reportedly the determining factor in whether the C-suite executives for the global coatings giant would pursue a second tower next to the first.

🔗 Read More

🏠 Just Sold Spotlight – Fully Renovated Old Brooklyn Cape Cod with New Roof, Quartz Kitchen, Updated Mechanicals & Oversized Lot Under $200K

📍 3716 Bader Ave, Cleveland, OH 44109

• 💰 Sold Price: $194,900

• 📏 Size: 990 sq. ft.

• 📅 Year Built: 1925

• 🛏 3 Beds | 🛁 1 Full Bath

• 🚗 Detached 1-Car Garage

• 🌳 Lot Size: 8,359 sq. ft.

• 🏫 School District: Cleveland Municipal School District

📝 Investor Takeaway

Closing $3,800 above its $191,100 Zestimate in just 25 days, this Old Brooklyn Cape Cod sold above asking in one of Cleveland's tightest submarkets 44109 currently sits at a strong seller's market index of 78/100 with a 12-day median days-to-pending, the most competitive reading in this edition's Spotlight.

🏡 Neighborhood Insight

• 📍 Community: Old Brooklyn, Cleveland (44109)

• 🏞 Nearby Landmarks: Cleveland Metroparks Zoo, Cleveland Metroparks trail system, I-480, Downtown Cleveland, Cleveland Hopkins Airport, Parma border

• 🚶 Accessibility: Minutes from I-480 and Hopkins Airport; walkable to parks, restaurants, and shopping corridors

• 🌿 Lifestyle Appeal: Old Brooklyn's combination of spacious lots, mature trees, strong neighborhood identity, and unbeatable access to Metroparks and Downtown Cleveland continues to attract both owner-occupants and investors who want Cleveland's best value-per-square-foot in a genuinely livable community

📈 Recent Sales Nearby:

3514 Schiller Ave – $140,000 | 3 Bed | 1 Bath | 960 sq. ft.

4808 Ira Ave – $170,000 | 3 Bed | 1 Bath | 1.3k sq. ft.

3819 Stickney Ave – $150,000 | 3 Bed | 1 Bath

4301 Wichita Ave – $169,900 | 3 Bed | 1 Bath | 1.1k sq. ft.

4607 Wichita Ave – $149,900 | 2 Bed | 1 Bath | 984 sq. ft.

Listed by: Michael Azzam | RE/MAX Haven Realty

📞 216-446-7606 | [email protected]

Bought by: Monica Rivera | Platinum Real Estate

💡 Insider’s Insight

🏘 Northeast Ohio Reappraisals Send Property Values Up 18 to 30 Percent

Property owners across nine Northeast Ohio counties are opening reappraisal letters this summer, and the numbers are big. Four counties in the region (Ashland, Ashtabula, Summit, and Wayne) are going through the state mandated sexennial reappraisal, while five more (Geauga, Harrison, Mahoning, Richland, and Trumbull) are going through the triennial update. Statewide, 41 counties are doing one or the other this year.

The core message from county fiscal officials is that a 20 percent property value bump does not translate to a 20 percent tax bump. Mahoning County Auditor Ralph Meacham pointed out that during the last cycle, a 38 percent average value increase produced only a 7 percent property tax increase countywide.

Most of the rest of the pipeline is market rate. Canopy at 6400 Herman Ave. is the largest active project, a four-story, 135-unit apartment building rising on a former industrial site next to Herman Park. Developer Heirloom Company, led by Justin Strizzi, is partnering with Pride One Construction. Strizzi's previous project, Welleon just east of Gordon Square.

📌 This year's reappraisal spread by county

• Summit County: average value increase of 18 percent, with Peninsula seeing about 33 percent and Boston Heights among the highest

• Mahoning County: average residential property tax increase of about 24 percent

• Ashtabula County: average value increase of about 30 percent

Compared to three years ago, the story is a moderating bump on top of an already elevated base. Summit values rose roughly 31 percent in the last cycle. Mahoning values rose about 38 percent. Ashtabula rose about 32 percent. This year's increases are smaller than that last wave in Summit and Mahoning, but Ashtabula is close to a repeat.

📌 This year's reappraisal spread by county

• Summit County: average value increase of 18 percent, with Peninsula seeing about 33 percent anNew Ohio Legislature relief measures kick in with 2027 tax bills

• Restrictions on the kinds of levies schools can seek

• Additional targeted tax relief for seniors

• Schools argue state funding has trailed while business and high income tax breaks expanded

🔑 Investor Takeaway

Reappraisal season is one of the underrated pricing signals in Ohio real estate, and this year's numbers matter for two reasons. First, an 18 to 30 percent county wide valuation lift is the state auditor community telling the market that recent transaction prices have held. That validates comps, it does not soften them. If you have been underwriting Summit, Mahoning, or Ashtabula deals to conservative pre 2023 valuations, the auditor is telling you those numbers are stale.

📉 Freddie Mac 30 Year Rate Climbs to 6.69 Percent

Freddie Mac's Primary Mortgage Market Survey posted the 30 year fixed rate mortgage at 6.69 percent as of August 6, 2026, up from 6.66 percent the prior week and now sitting above the 6.63 percent level from a year ago. The 15 year FRM moved the other direction, dipping to 6.01 percent from 6.04 percent last week, though it remains meaningfully above the 5.75 percent level from a year ago. Freddie Mac's own commentary flagged something worth noting: while rates continue to influence affordability.

The trajectory tells a specific story. Two weeks ago the 30 year was at 6.58 percent, three weeks ago it was 6.55 percent. In roughly 21 days it has climbed 14 basis points, and it is now above where it sat a year ago rather than below. The 15 year has been more mixed, and it just crossed above 6 percent for the first time in this cycle, which is a real psychological threshold for anyone underwriting to shorter duration debt.

📌 This week's rates in context

• 30 year FRM: 6.69 percent (up from 6.66 percent last week, up from 6.63 percent a year ago)

• 15 year FRM: 6.01 percent (down from 6.04 percent last week, up from 5.75 percent a year ago)

• 21 day 30 year move: +14 basis points (from 6.55 percent on July 16 to 6.69 percent on Aug 6)

For Cleveland specifically, the more important line in the Freddie Mac release is the one about listing prices sitting modestly below year ago levels and inventory improving. That aligns cleanly with the local Realtor.com data showing 1,926 active Cleveland listings (up 16.31 percent year over year) and a citywide median list price essentially flat.

Millennia's planned redevelopment as The Centennial would deliver 870 workforce apartments, 90,000 square feet of Class A office space, and 20,000 square feet of retail inside the 1924 built, 21 story former Huntington Bank building.

🔑 Investor Takeaway

The through line across the three most recent PMMS prints (6.55, 6.58, now 6.69) is that the 30 year has slowly broken through its summer holding pattern and is now trading above where it was 12 months ago. That is a real change in signal, not just noise, and it removes one of the anchor arguments Cleveland investors have been using to justify staying on the sidelines waiting for a rate cut.

🏡House of the Week – West Coast-Styled Tremont Gem with 3-Car Garage, Private Sun Deck & Abatement Through 2030

📍 2509 Thurman Ave, Cleveland, OH 44113

• 💰 Price: $649,000

• 📏 Size: 2,183 sq ft

• 📅 Year Built: 2015 | Tax Abatement Through 2030

• 🛏 3 Beds | 🛁 2 Full Baths + 1 Half Bath

• 🚗 Attached 3-Car Garage

• 🏡 Single Family Residence | Tremont

• 🏫 School District: Cleveland Metropolitan School District

🧘 Vibes: A west coast-inspired single family home on one of Tremont's most coveted streets with a three-car garage, 25-foot soaring ceilings, a fenced backyard oasis, private sun deck, and a tax abatement running through 2030. No HOA.

👉 Listed by: Scott A. Marvin | Team Results Realty

📞 614-382-2124 ✉️ [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