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10411 Parkgate Ave
Score
0
Cleveland, OH

10411 Parkgate Ave

20K
5 bd • 3 ba • sf

This analysis was generated on 3/3/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$20,000

Price/Sq.Ft

$20,000

Year Built

1911

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Price Position: Price per square foot cannot be determined due to missing square footage data. However, the listed price of $20,000 is significantly lower than the median sold price of $80,000 in the area, reflecting the property's distressed condition. • Appreciation Trend: The property's price history shows significant fluctuations, with a sale at $55,000 in 2020 and previous listings around $59,000. The current listing price of $20,000 reflects the fire damage and need for extensive renovation. • Negotiation Opportunity: The property has been on the market for 46 days. Given the current buyer's market, this is longer than average, suggesting potential negotiation leverage. • Rental Income: $1,333/month with 90% occupancy (0.1% cap rate) • Future Development: No specific planned developments are listed. Monitor local news and city planning documents for upcoming projects that could impact property values.

The Bad

• Complete Roof Replacement (HIGH priority): $150,000 • Structural Repairs and Stabilization (HIGH priority): $75,000 • Complete Interior Demolition and Removal of Debris (HIGH priority): $50,000 • Electrical and Plumbing System Replacement (HIGH priority): $30,000 • Mold Remediation and Water Damage Repair (HIGH priority): $20,000 • Exterior Siding and Window Replacement (MEDIUM priority): $10,000 • Significant renovation costs due to fire damage, requiring a detailed assessment of structural integrity and potential environmental hazards. • Neighborhood schools have low ratings (2-4/10), which may limit appeal to families and impact long-term resale value. • Lack of crime data makes it difficult to assess neighborhood safety, potentially deterring some buyers or renters. • The property's age (built in 1911) may present challenges related to outdated systems, lead paint, or asbestos, increasing renovation costs. • Minimal flood and fire risk, but moderate air quality and heat risk could impact long-term tenant appeal and maintenance costs. • School Quality Issue: Low school ratings may negatively impact property values, potentially reducing the pool of prospective buyers and limiting long-term appreciation. Consider the availability of school choice programs or private alternatives.

The Ugly

• Climate Risk: Estimated insurance is very low at $72/year, likely reflecting minimal coverage. Given the fire damage, expect significantly higher premiums after repairs. Obtain quotes for comprehensive coverage post-renovation; factor in potential increased costs due to air quality and heat risks.
Roof Structure

Roof Structure

Extensive fire damage to the roof structure, requiring complete replacement.

Water Damage

Water Damage

Significant water damage throughout the interior, leading to potential mold and structural issues.

Structural Integrity

Structural Integrity

Unstable interior structures and debris creating hazardous conditions.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

Rental Property Investors: Potential annual revenue of $16,000 with 90% occupancy rate Value Investors: Projected 650.0% appreciation potential in moderate scenario Renovation-Minded Buyers: Estimated $335,000 in strategic upgrades could significantly increase property value

Not For

Buyers seeking move-in ready properties: Multiple high-priority repairs/renovations needed Risk-averse buyers: Property faces significant climate-related insurance costs and risks
Demographics
Area Median Income

$29,763

Property History

Price History
Ownership Timeline
$351,871Cash Purchase
Jun 21, 2021
Guardian Fund LlcManfred Wehrhagen Kastel, Ursula Wehrhagen Kastell
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Jun 21, 2021
Home Partners LlcGuardian Fund Llc
Quit Claim Deed
Non-Arm's Length Transactions
$49,000Cash Purchase
May 26, 2020
Don FendersonRehab Kings Llc
Warranty Deed
Standard Sale (Purchase/Resales)
$55,000Cash Purchase
May 21, 2020
Rehab Kings LlcHome Partners Llc
Warranty Deed
Non-Residential Arm's Length Transactions
$0Cash Purchase
Mar 1, 2016
Carolyn Diane FendersonDon Fenderson
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jul 5, 2011
Carolyn Curry, Carolyn D CurryCarolyn Federson, Donovan Fenderson
Warranty Deed
Non-Arm's Length Transactions
$0Cash Purchase
Jan 3, 2003
Don Fenderson, Carolyn FendersonCarolyn Fenderson
Intrafamily Transfer
Non-Arm's Length Transactions
$0Financed
Dec 17, 2002
Carolyn D Fenderson, Don FendersonDon W Fenderson
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Oct 12, 2001
Don FendersonCarolyn D Fenderson
Intrafamily Transfer
Non-Arm's Length Transactions
$41,000Financed
Aug 20, 2001
Jayne T Hall, Bankers Trust Company Of California NaDon Fenderson
Sheriffs Deed
Foreclosure

Property Taxes

$1,493
2023 Tax Assessment
0.6%from previous year
Assessed Value$19,250
Tax Rate7.76%

Sunlight Analysis

Visualize how sunlight affects this property throughout the day and year.

Sunlight Analysis

Data provided by Shadowmap

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Schools

Nearby school quality by education level

Elementary

3.5/10
Below Average

Financials

Monthly Costs
Market Rent (5 bed)

$719

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Location & Comparables

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