This 1885 colonial at 5416 Stanard Avenue presents a clear investment play in Cleveland’s Goodrich-Kirtland Park neighborhood. The building offers six bedrooms and three bathrooms across 1,490 square feet on a 3,598-square-foot lot with 30 feet of frontage. Its location places major anchors within easy reach—Cleveland Clinic Main Campus, University Circle, and Downtown Cleveland are all a short drive away—supporting both resale and rental demand.
Significant mechanical and exterior updates are already documented: a new roof, updated electrical and plumbing systems, new porches, and new flooring. The structure remains classified as needing renovation, with an unfinished basement, hot-water/steam heating, and no cooling system reported. A two-car detached garage and paved driveway provide off-street parking; the home is currently vacant and shows strong signals as an investor-targeted fixer-upper.
From a market perspective, comparable sales and brokerage research indicate upside once renovations are completed. Recent area comps and a sales-comparison valuation place a likely value band in the mid-hundreds of thousands after rehabilitation; market metrics show steady appreciation (approximately +5% year-over-year and +15% over five years), around 2.5 months of inventory, and an average of 51 days on market for similar properties. Zoning is listed as 2F (Two-Family Residential), which supports single-family use and potential conversion to two-family for increased rental yield.
Practical next steps for an interested buyer are documented in the audit and executive summaries: verify the scope and quality of completed renovations, obtain a professional inspection, confirm current ownership and title, and assess costs and timeline for remaining work. The property’s assessed value and recent sale history reflect a low assessed base relative to market comparables, which may present a value-add opportunity for investors who can complete the outstanding work and position the home for rental or resale.
Overall, 5416 Stanard Avenue combines documented system upgrades with clear renovation tasks and a transit-proximate location that supports short- and long-term income strategies. Confirming the remaining scope of work, title status, and local zoning setbacks should be priorities before submitting an offer.