Real Estate Investing in Cleveland, Ohio (44104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 44104 (Cleveland, OH)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 14.8% of homes vacant — above national norms.
- Elevated poverty: 50.4% poverty rate — can affect rent collection.
- Higher unemployment: 11.3% unemployment — tenant risk signal.
- Lower household income: $21,333 median — tenant affordability is tighter.
What’s happening in Cleveland, OH (44104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 44104 Cleveland
The 44104 ZIP posts an sturdy value-add profile — below-median pricing at $78K, a renter base of 74%, and room for operational improvement.
ZIP 44104 favors investors with a contractor on speed dial. From an investor standpoint, the turnkey yield looks ordinary, a renovated unit pulls stronger rent than the unrenovated $1,092/mo average.
Across Cleveland, pockets like 44104 represent the last affordable rungs of a rising ladder. The state-level data shows those rungs thinning.
Household income in 44104 supports the rent-lift thesis. 19,716 residents, deep working-age cohort, and the kind of tenant profile that responds to upgraded stock.
Experienced operators with contractor networks find 44104 worth a close look for. First-time flippers often underestimate scope, budget, and timeline, which is how deals here turn sour.
Here's what matters if you're considering buying a home in Cleveland:
Property Strategy for 44104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $57,119 | $980 | 12.4% | +10.4% | $28,559 |
| 3BR | $70,351 | $1,260 | 12.9% | +5.6% | $23,450 |
| 4BR | $75,673 | $1,350 | 12.8% | +6.8% | $18,918 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 44104 Compare?
| Metric | 44104 | Cleveland | Cleveland-Elyria, OH | Ohio |
|---|---|---|---|---|
| Home Value | $77,863 | $85,662 | N/A | $237,530 |
| 5-Year CAGR | 3.1% | 3.2% | N/A | 7.4% |
| Avg Rent | $1,092 | $1,306 | N/A | - |
| Cap Rate | 10.9% | 8.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 44104 (Cleveland, OH). Anonymous, moderated, never written by AI.
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Property managers serving Cuyahoga County
Manage rentals here? List your business →Cleveland Property Management Group is a residential property manager in Northeast Ohio, assisting with property purchase, portfolio analysis, and full-service management. summary from their website
SBS Property Management provides management, maintenance, inspections, finances, and communications for Condominium and Homeowner Associations across Ohio. summary from their website
Aspire Real Estate helps sell homes quickly. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $77,863 |
| Monthly Rent | $1,092 |
| Price-to-Rent | 5.9:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 16.8% |
| Cap Rate | 10.9% |
| 5-Year IRR | 14.1% |
📈 Home Appreciation
| 1-Year | +4.5% ▲ |
| 3-Year CAGR | +8.3% ▲ |
| 5-Year CAGR | +3.1% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (10.9%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 44104
Population: 19,716
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 44104
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Roxboro Middle School
Cleveland Metro Remote School K-12
John Adams College & Career Academy
Sunbeam
Woodbury Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 9,386 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What type of investing works in Cleveland, OH?
Investors usually favor value-add and BRRRR deals in Cleveland, OH. With home values at $78K and rents near $1,092/mo, other strategies can work but produce stable rather than outsized returns.
What is the typical rental rate in Cleveland, OH?
Investors in Cleveland, OH typically see rents near $1,092/mo per month against $78K home values - a solid setup for rental cash flow.
Can investors hit the 1% rule in Cleveland, OH?
The 1% rule in Cleveland, OH is reasonable to achieve. Rent-to-price at the median ($1,092/mo on $78K) lands around 1.40%.
Is Cleveland, OH a good market for FHA house hackers?
Cleveland, OH is a an attractive market for house hackers. FHA or conventional owner-occupant buyers find the $78K price point reasonable to enter.
What price range are homes in Cleveland, OH?
Median home price in Cleveland, OH is near $78K, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
You know 44104 now. You don’t know where it ranks.
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How 44104 ranks in Cleveland-Elyria, OH
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