General Real Estate Investing

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Benjamin Seibert
  • Investor
  • Frederick, MD
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Cleveland Heights - Cleveland OH

Benjamin Seibert
  • Investor
  • Frederick, MD
Posted Jul 18 2022, 17:36

Does anyone have a general range on what a 4 BR 2.5 BA would rent for in Cleveland Heights OH? Our PM told us that they would rent it for $1100 but from all the other properties for rent in the area this seems very low. Our property needs a small amount of work (which we're currently doing - normal unit turnover work and a driveway sealing). Any help/color is greatly appreciated!

Cleveland, Ohio

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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
Replied Jul 18 2022, 21:44

@Benjamin Seibert

What's the square footage? What street is it on? 

Rough estimate would be around $1-$1.50 per square foot off the top of my head. BP calculator or rentometer is a decent starting point and you can drill down on what's listed in the area online and begin to gauge what the price should be.

Sounds like the PM wants to get the unit filled as quickly as possible. 

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Shane Kelly
  • Real Estate Agent
  • Cleveland, OH
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Shane Kelly
  • Real Estate Agent
  • Cleveland, OH
Replied Jul 19 2022, 06:29

Cleveland Heights has very classes of property. It can be a B- all the way up to a B+ or A-. If you're in the lower of the classes (more by East Cleveland) then somewhere around $1200 to $1600 is the range you'll be in. If you're right by parts of University Circle/Little Italy or the really nice parts of Shaker Heights, you could get anywhere from $1600 to $2000. There are a lot of variables missing for me to give you an exact number, but hopefully these ranges help. $1100 is a very low guess from the PM.

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Andrew Weiner
  • Property Manager
  • Cleveland, Oh
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Andrew Weiner
  • Property Manager
  • Cleveland, Oh
Replied Jul 19 2022, 07:05

That does seem low.  A 4 bedroom in CH should start $1,300 in most locations unless I’m missing something.  Take a look at what’s currently available for rent and see how it matches up.

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Erin Dorsey Robinson
  • Real Estate Agent
  • Cleveland, OH
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Erin Dorsey Robinson
  • Real Estate Agent
  • Cleveland, OH
Replied Jul 19 2022, 08:32

Hi @Benjamin Seibert!

Where is your house? Give us a few more details so we can give you good info.

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Muhammad Amawi
  • Investor
  • Cleveland
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Muhammad Amawi
  • Investor
  • Cleveland
Replied Jul 20 2022, 10:44

Hey Benjamin,

I'll be able to give you rental comparisons if you're able to provide me with more details on the property. 

Let me know, I look forward to connecting

Lender Ohio (#2335749)

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Benjamin Seibert
  • Investor
  • Frederick, MD
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Benjamin Seibert
  • Investor
  • Frederick, MD
Replied Jul 26 2022, 17:16
Quote from @Erin Dorsey Robinson:

Hi @Benjamin Seibert!

Where is your house? Give us a few more details so we can give you good info.


 Yes, no problem. The address is 1960 Revere Rd Cleveland Heights OH. Thanks!

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Benjamin Seibert
  • Investor
  • Frederick, MD
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Benjamin Seibert
  • Investor
  • Frederick, MD
Replied Jul 26 2022, 17:17
Quote from @Muhammad Amawi:

Hey Benjamin,

I'll be able to give you rental comparisons if you're able to provide me with more details on the property. 

Let me know, I look forward to connecting

Yes, no problem. The address is 1960 Revere Rd Cleveland Heights OH. It's a 4 BR 3 BA SFH in average condition (if you need any pics let me know). Thanks!

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Benjamin Seibert
  • Investor
  • Frederick, MD
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Benjamin Seibert
  • Investor
  • Frederick, MD
Replied Jul 26 2022, 17:20
Quote from @Bob Okenwa:

@Benjamin Seibert

What's the square footage? What street is it on? 

Rough estimate would be around $1-$1.50 per square foot off the top of my head. BP calculator or rentometer is a decent starting point and you can drill down on what's listed in the area online and begin to gauge what the price should be.

Sounds like the PM wants to get the unit filled as quickly as possible. 


 The address is 1960 Revere Rd Cleveland Heights OH - 4 BR 3 BA 2463 SF. Thanks!

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Andrew Weiner
  • Property Manager
  • Cleveland, Oh
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Andrew Weiner
  • Property Manager
  • Cleveland, Oh
Replied Jul 26 2022, 18:06
Quote from @Benjamin Seibert:
Quote from @Bob Okenwa:

@Benjamin Seibert

What's the square footage? What street is it on? 

Rough estimate would be around $1-$1.50 per square foot off the top of my head. BP calculator or rentometer is a decent starting point and you can drill down on what's listed in the area online and begin to gauge what the price should be.

Sounds like the PM wants to get the unit filled as quickly as possible. 


 The address is 1960 Revere Rd Cleveland Heights OH - 4 BR 3 BA 2463 SF. Thanks!

I sent a PM with my thoughts.  Seems low for sure though   

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Shane Kelly
  • Real Estate Agent
  • Cleveland, OH
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Shane Kelly
  • Real Estate Agent
  • Cleveland, OH
Replied Jul 27 2022, 06:55
Quote from @Benjamin Seibert:
Quote from @Erin Dorsey Robinson:

Hi @Benjamin Seibert!

Where is your house? Give us a few more details so we can give you good info.


 Yes, no problem. The address is 1960 Revere Rd Cleveland Heights OH. Thanks!


 Lowest comp is right around $2000 a month, highest is right around $2500. Assuming that yours is in market condition, it will depend on what you offer that will decide where you are in that range. If your PM is suggesting $1100 a month, you may want to find a new PM.

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Gabrielle Gratz
  • Real Estate Agent
  • Cleveland, OH
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Gabrielle Gratz
  • Real Estate Agent
  • Cleveland, OH
Replied Jul 27 2022, 10:51

@Benjamin Seibert 

We are a full-service property management company here in Cleveland with roughly 2000 doors under our management. I ran a  rental analysis for you on your property and looks like you should expect (in market-condition) a rent price around $ 1770.

I would love to connect to discuss our PM services with you, and I can send over the report!