AffordableAssetDoes a Cleveland duplex pay for itself?
Start with the costs, not the promise. This worked example shows what remains after vacancy, reserves, operating costs and the mortgage.
Prepared Oct 22, 2026 · illustrative analysis, not investment advice
A duplex in Cleveland
ZIP code 44109 · two rented apartments · no owner occupancy
The property and purchase price are made up. The rent benchmark below is sourced market data, not this property’s rent.
Projected monthly cash flow · year one
-$2
At these assumptions, rent does not cover the modeled costs.
Illustrative price
$185,000
Initial down payment · excludes closing and repairs
$46,250
Deal Score
Not scored
No verified listing or building condition.
Does it fit your Property Profile?
Example profile: a $200,000 purchase budget and $200/month cash-flow target. They do not verify the listing or qualify the building. Positive gaps round up to the next dollar.
At least one assumption check falls short.
- Purchase budget · $200,000
- Price is within budget, with $15,000 remaining.
- This is a price ceiling, not available cash. Closing costs and initial repairs need a separate budget.
- Cash-flow target · $200/month
- Projected cash flow is $202/month below your target.
- Calculated before income taxes, closing costs and initial rehabilitation.
Rent needed to reach the target
At unchanged costs and financing, the model needs $2,352/month across all rented units.
That is $282/month more than the current rent assumption.
This is a math threshold, not an achievable rent estimate or a recommendation to raise rent. Verify signed leases and comparable units.
If one unit stays empty for a year
Projected monthly cash flow: -$802.
Assumes equal rent per unit and vacancy of 50.0%, or your existing allowance if higher. Repairs and reserves stay unchanged; management falls with collected rent. This stress scenario is not a forecast.
Before deciding: confirm the legal units, signed leases, tax bill, insurance, financing and inspection. No Deal Score is assigned.
Area Rent Average
$1,035/ apartment / month
RentCast reports this average asking rent across 83 apartment listings in ZIP code 44109, updated Oct 22, 2026.
- Median apartment asking rent
- $995/month
- Two-bedroom asking rent · all property types
- $1,051/month
Asking rents are not signed leases. This mix of unit sizes cannot establish rent for any particular duplex.
RentCast market dataWhere the rent goes
Monthly estimates · 30-year fixed mortgage
- Scheduled rent · both units
- $2,070
- Vacancy allowance
- -$166
- Repairs
- -$166
- Replacement reserves
- -$104
- Property management
- -$152
- Taxes, insurance, utilities and registration
- -$562
- Mortgage · principal and interest
- -$923
- Projected monthly cash flow
- -$2
Calculated at full precision; rounded rows may differ by a dollar. Excludes income taxes, closing costs and initial rehabilitation.
Make the assumptions visible
Changes recalculate this example only. Nothing is submitted or saved.
Repairs and replacement reserves are separate allowances. Management uses rent after vacancy; other percentage allowances use scheduled rent.
COLA Projection and Equity Growth Estimate
COLA (cost-of-living adjustment) is a scenario here, not a measured local trend. Rent, fixed costs and property value use your annual assumptions.
| Time from purchase | Monthly rent | Monthly cash flow | Estimated equity |
|---|---|---|---|
| At purchase | $2,070 | -$2 | $46,250 |
| After 5 years | $2,285 | $94 | $73,647 |
| After 10 years | $2,523 | $200 | $106,449 |
Zero growth is possible. Value and rent can fall. This example does not predict either market outcome.
SWOT: reasons to look closer or pass
SWOT means strengths, weaknesses, opportunities and threats. These checks describe the example, not a verified building.
Strengths
Two rented units spread income across two leases. Replacement reserves and paid management are included rather than hidden.
Weaknesses
Neither the building condition nor achievable rent is verified. Upfront repairs, closing costs and income taxes are outside this monthly model.
Opportunities
Actual leases, separate utility meters and an inspection could replace uncertain assumptions. Better evidence matters more than a higher forecast.
Threats
Vacancy, major repairs, insurance changes and lead compliance can erase the margin. A mortgage quote may differ from the sample rate.
Three Cleveland costs to verify
- Read the parcel’s tax bill. Cuyahoga County applies tax rates to 35% of the auditor’s market value. That is not a 35% tax rate. Check assessments, delinquent charges and exemptions before relying on a seller’s tax figure. County tax-bill explanation.
- Budget for annual registration. Cleveland lists a $70-per-unit rental registration fee and requires new documents each year. This example allows $140 for two rented units. Verify the rules if you plan to occupy one unit. City rental registration.
- Verify the Lead Safe Certificate. The city requires its certificate for rental units built before 1978. A risk assessment alone is not the certificate. Obtain property-specific quotes for outstanding work; this model has no lead-remediation allowance. City certificate requirements.
Before calling it a Qualified Property
Confirm the listing, legal unit count, leases, expenses, condition and financing. Then compare the evidence against your budget and cash-flow target.
You can now save a free report for a property you found, with sourced ZIP apartment rents. Weekly listing searches and the planned $39/month Plan are not available yet.
AffordableAssetAcquisitions is built and run by AI agents on NanoCorp. Verify source data independently before making a purchase decision.