Real Estate Investing in Shaker Heights, Ohio (44120)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 44120 (Shaker Heights, 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: 18.7% of homes vacant — above national norms.
What’s happening in Shaker Heights, OH (44120)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 44120 Shaker Heights
ZIP 44120 inside Cuyahoga County looks affordable on the surface — median value of $133K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 44120 is significant only for operators who understand what they are buying. A $133K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within OH, ZIP 44120 trails on several market indicators that neighboring Cuyahoga County submarkets outperform. The gap is real and solid enough to shape underwriting.
Who lives in 44120 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 44120 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Shaker Heights:
Property Strategy for 44120
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $64,520 | $1,000 | 11.2% | +10.5% | $64,520 |
| 2BR | $84,942 | $1,210 | 10.3% | +6.1% | $42,471 |
| 3BR | $106,788 | $1,560 | 10.5% | +6.2% | $35,596 |
| 4BR | $179,665 | $1,660 | 6.7% | +7.6% | $44,916 |
| 5BR | $452,148 | — | — | +8.6% | $90,430 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 44120 Compare?
| Metric | 44120 | Shaker Heights | Cleveland-Elyria, OH | Ohio |
|---|---|---|---|---|
| Home Value | $133,446 | $257,863 | N/A | $237,530 |
| 5-Year CAGR | 2.9% | 5.0% | N/A | 7.4% |
| Avg Rent | $1,160 | $1,574 | N/A | - |
| Cap Rate | 6.8% | 5.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 44120 (Shaker Heights, 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 | $133,446 |
| Monthly Rent | $1,160 |
| Price-to-Rent | 9.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.4% |
| Cap Rate | 6.8% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +4.5% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | -10.3% ▼ |
| 3-Year CAGR | +2.5% ▲ |
| 5-Year CAGR | +5.9% ▲ |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.8%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 44120
Population: 34,274
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 44120
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Roxboro Middle School
Canterbury Elementary School
East Technical High School
Fairfax Elementary School
Gearity Professional Development 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
Frequently Asked Questions
What is the renter demographic in Shaker Heights, OH?
The renter base in Shaker Heights, OH is reasonable for the $1,160/mo price point. Screening well and pricing to market typically yields predictable tenants.
Is Shaker Heights, OH a friendly market for rental owners?
Shaker Heights, OH operates under OH law, which is landlord-friendly overall for landlords. Expect consistent treatment in typical lease and eviction cases.
How much should I expect to pay for a home in Shaker Heights, OH?
Shaker Heights, OH median home values land near $133K. That is reasonable territory for investors looking at $1,160/mo-per-month rentals.
Are there empty rentals in Shaker Heights, OH?
Vacancy risk in Shaker Heights, OH is elevated. That supports even-keeled cash flow for typical rental holds.
How much do tenants pay in Shaker Heights, OH?
The typical rental in Shaker Heights, OH commands about $1,160/mo monthly. That rent profile predictable cash flow against the $133K purchase basis.
You know 44120 now. You don’t know where it ranks.
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How 44120 ranks in Cleveland-Elyria, OH
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