← 13806 Coit Rd, Cleveland, OH 44110 · All properties
UPDATES.md
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| Property | 13806 Coit Rd, Cleveland, OH 44110 |
|---|---|
| Folder | README & Property Snapshot |
| Kind | Text |
| Updated | 2026-07-11 |
| Dropbox path | 00 - README & Property Snapshot/UPDATES.md |
What This File Appears To Be
Property Updates ## 2026-04-13 - Property Update (04/13/2026): - We are issuing a proactive owner communication to keep update cadence consistent. - Property operations and file review are in progress. - A fuller operational/financial update will follow after manager file reconciliation. ## 2026-04-06 - Property Update (04/06/2026): - Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx): · Field · Value · · ------- · ------- · · Yhome Net Due TO DAO
Text Preview
# Property Updates
## 2026-04-13
- Property Update (04/13/2026):
- We are issuing a proactive owner communication to keep update cadence consistent.
- Property operations and file review are in progress.
- A fuller operational/financial update will follow after manager file reconciliation.
## 2026-04-06
- Property Update (04/06/2026):
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $-6,395.02 |
| Lofty Operating Cash | $12,376.10 |
| ECO Operating Cash | $-31.95 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $12,376.10 |
| Estimated Owners' Equity | $0.00 |
| DAO Estimated NAV Per Token | $6.28 |
| DAO Tokens | 1971 |
| Current PM | ECO (Sold) |
**Property Updates**
## 2026-04-06
- Property Update (04/06/2026):
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $-6,395.02 |
| Lofty Operating Cash | $12,376.10 |
| ECO Operating Cash | $-31.95 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $12,376.10 |
| Estimated Owners' Equity | $0.00 |
| DAO Estimated NAV Per Token | $6.28 |
| DAO Tokens | 1971 |
| Current PM | ECO (Sold) |
## 2026-04-05
- Property Update (04/05/2026):
- Cross-check against `Yhome Transition Reconciliation.xlsx` shows 13806 Coit Rd, Cleveland, OH 44110 flagged as **ECO (Sold)**.
- Current reconciliation status: **Yhome owes Lofty, DAO, and DAO owes Aligned**.
- Public DESCRIPTION.md and DETAILS.md refreshed to reflect sold status.
## 2026-04-05
- Property Update (04/05/2026):
- Cross-check against `Yhome Transition Reconciliation.xlsx` shows 13806 Coit Rd, Cleveland, OH 44110 flagged as **ECO (Sold)**.
- Current reconciliation status: **Yhome owes Lofty, DAO, and DAO owes Aligned**.
- Public DESCRIPTION.md and DETAILS.md refreshed to reflect sold status.
## 2026-02-11
- Property Update (02/11/2026):
- Agent [discovered on 1/8/26](https://www.dropbox.com/scl/fi/ga5byuknjjn38tykfh1wn/Stolen-Appliances-2026-01-08-Magniv-Realty-LLC-13806-Coit-Rd-Cleveland-OH-44110.png?rlkey=d7gc63ez3npujwr1bcyq5r64g&dl=0) that both of the brand new hot water tanks and both furnaces (one new, one old) were stolen. The side door was open and a window was open. We do not know who did it and don't have video or photos of the incident. In lieu of replacing at DAO's expense and additional delays, the buyer lowered their offer to $80k cash (previously $94.5k financed).
- The property sold and closed on Jan. 31, 2026. Funds will be sent to Lofty for final redemption.
- Financial Summary as of 2/11/26:
- Net Sale Proceeds: $69,981.75
- Due to Yhome: ($6,395.02) (held back as 128 EARLDAO shares)
- Due to [Ashdod City Corp](https://www.dropbox.com/scl/fi/yjbgyyyduwtmgjihax97i/Affidavit-of-Mechanic-s-Lien-by-Ashdod-City-Corp-Michael-Gruzmarg-13806-Coit-Rd-Cleveland-OH-44110.pdf?rlkey=yfm8ebbh7tarakgiub1zjsuu9&dl=0): ($30,000)
- Due to Lofty OR: ($15,911.61)
- Due to ECO Systems: ($4,625.67)
- Final Tax Return: ($200)
- DAO Net Cash: $13,049.45
- Redemption: $6.62/share
- [Closing Package](https://www.dropbox.com/scl/fi/jx3xzabvsijdpdxi2u41d/Seller-Closing-Package-signed-Magniv-Realty-LLC-13806-Coit-Rd-Cleveland-OH-44110.pdf?rlkey=816lkdeu5owv33gwfratsmwuz&dl=0)
- [Aligned Final Statement](https://www.dropbox.com/scl/fi/cw25k9setw3a2imflezfr/Owner-Statement-13806-Coit-Rd.-Cleveland-OH-44110.pdf?rlkey=phjl2um1axbfskv5jijqbhxfh&dl=0)
- [ECO Systems General Ledger](https://www.dropbox.com/scl/fi/7jqq9iz2u3jen9icyu5c5/ECO-Systems-General-Ledger-2026-02-11-13806-Coit-Rd-Cleveland-OH-44110.csv?rlkey=15gczoujwzalxltkqh994m8lg&dl=0)
## 2026-02-11
- Property Update (02/11/2026):
- Agent [discovered on 1/8/26](https://www.dropbox.com/scl/fi/ga5byuknjjn38tykfh1wn/Stolen-Appliances-2026-01-08-Magniv-Realty-LLC-13806-Coit-Rd-Cleveland-OH-44110.png?rlkey=d7gc63ez3npujwr1bcyq5r64g&dl=0) that both of the brand new hot water tanks and both furnaces (one new, one old) were stolen. The side door was open and a window was open. We do not know who did it and don't have video or photos of the incident. In lieu of replacing at DAO's expense and additional delays, the buyer lowered their offer to $80k cash (previously $94.5k financed).
- The property sold and closed on Jan. 31, 2026. Funds will be sent to Lofty for final redemption.
- Financial Summary as of 2/11/26:
- Net Sale Proceeds: $69,981.75
- Due to Yhome: ($6,395.02) (held back as 128 EARLDAO shares)
- Due to [Ashdod City Corp](https://www.dropbox.com/scl/fi/yjbgyyyduwtmgjihax97i/Affidavit-of-Mechanic-s-Lien-by-Ashdod-City-Corp-Michael-Gruzmarg-13806-Coit-Rd-Cleveland-OH-44110.pdf?rlkey=yfm8ebbh7tarakgiub1zjsuu9&dl=0): ($30,000)
- Due to Lofty OR: ($15,911.61)
- Due to ECO Systems: ($4,625.67)
- Final Tax Return: ($200)
- DAO Net Cash: $13,049.45
- Redemption: $6.62/share
- [Closing Package](https://www.dropbox.com/scl/fi/jx3xzabvsijdpdxi2u41d/Seller-Closing-Package-signed-Magniv-Realty-LLC-13806-Coit-Rd-Cleveland-OH-44110.pdf?rlkey=816lkdeu5owv33gwfratsmwuz&dl=0)
- [Aligned Final Statement](https://www.dropbox.com/scl/fi/cw25k9setw3a2imflezfr/Owner-Statement-13806-Coit-Rd.-Cleveland-OH-44110.pdf?rlkey=phjl2um1axbfskv5jijqbhxfh&dl=0)
- [ECO Systems General Ledger](https://www.dropbox.com/scl/fi/7jqq9iz2u3jen9icyu5c5/ECO-Systems-General-Ledger-2026-02-11-13806-Coit-Rd-Cleveland-OH-44110.csv?rlkey=15gczoujwzalxltkqh994m8lg&dl=0)
## 2025-09-23
- Property Update (09/23/2025):
- Governance Results for 13806 Coit Rd:
- The Governance Voting results are back for the owner proposed vote.
- The winning vote is:
- Accept the Offer
- This voting option received 782 / 782 token votes which is equal to 100% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3229808669) or by searching the application ID: 3229808669
## 2025-09-23
- Property Update (09/23/2025):
- Governance Results for 13806 Coit Rd:
- The Governance Voting results are back for the owner proposed vote.
- The winning vote is:
- Accept the Offer
- This voting option received 782 / 782 token votes which is equal to 100% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3229808669) or by searching the application ID: 3229808669
## 2025-09-17
- Property Update (09/17/2025):
- Owner-Proposed Governance Vote for 13806 Coit Rd:
- The current property manager, ECO Systems LLC with the following [wallet address](https://allo.info/account/PRLPPSU53SGKIK5Y7L2LAZPRJHDRO35FHXPFZQCQAWLOBCRKVGX5B7T6XI), is proposing a governance vote to sell the property.
- Earl holds 7 tokens in this property.
- The property manager's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It's up to owners to verify the accuracy of the claims below.
- [View Governance Proposal](https://www.dropbox.com/scl/fi/1htdg92jqx34mkti6ox5s/Governance-Proposal-to-Sell-Property-13806-Coit-Rd-Cleveland-OH-44110.docx?rlkey=2rqa9zg9co0oqbiqt1qdtsxzy&e=2&dl=0)
- The results will be determined by a 60% Supermajority and sent to all owners on Tuesday, September 23rd once the voting period ends.
## 2025-09-17
- Property Update (09/17/2025):
- Owner-Proposed Governance Vote for 13806 Coit Rd:
- The current property manager, ECO Systems LLC with the following [wallet address](https://allo.info/account/PRLPPSU53SGKIK5Y7L2LAZPRJHDRO35FHXPFZQCQAWLOBCRKVGX5B7T6XI), is proposing a governance vote to sell the property.
- Earl holds 7 tokens in this property.
- The property manager's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- [View Governance Proposal](https://www.dropbox.com/scl/fi/1htdg92jqx34mkti6ox5s/Governance-Proposal-to-Sell-Property-13806-Coit-Rd-Cleveland-OH-44110.docx?rlkey=2rqa9zg9co0oqbiqt1qdtsxzy&e=2&dl=0)
- The results will be determined by a 60% Supermajority and sent to all owners on Tuesday, September 23rd once the voting period ends.
## 2025-07-15
- Property Update (07/15/2025):
- Governance Results for 13806 Coit Rd:
- The Governance Voting results are back for the owner proposed vote.
- The winning vote is:
- Transition to ECO Systems LLC as PM with Aligned, Hemlane, or Nomad as Sub-PM 15% Property Management Fee to ECO Systems Leasing Fee
- This voting option received 262 / 362 token votes which is equal to 72% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3120229626) or by searching the application ID: 3120229626
## 2025-07-15
- Property Update (07/15/2025):
- Governance Results for 13806 Coit Rd:
- The Governance Voting results are back for the owner proposed vote.
- The winning vote is:
- Transition to ECO Systems LLC as PM with Aligned, Hemlane, or Nomad as Sub-PM 15% Property Management Fee to ECO Systems Leasing Fee
- This voting option received 262 / 362 token votes which is equal to 72% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3120229626) or by searching the application ID: 3120229626
## 2025-07-07
- Property Update (07/07/2025):
- Owner-Proposed Governance Vote for 13806 Coit Rd:
- The current property manager, M1 Homes LLC with the following [wallet address](https://allo.info/account/PRLPPSU53SGKIK5Y7L2LAZPRJHDRO35FHXPFZQCQAWLOBCRKVGX5B7T6XI), is proposing a governance vote.
- M1 Homes LLC holds 50 tokens in this property.
- The property manager's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It's up to owners to verify the accuracy of the claims below.
- PROPOSAL: Transition Property Management to ECO Systems LLC
- Background:
- When M1 Homes LLC was originally proposed as property manager, it was under the condition that the property in question would be free of outstanding financial obligations at the time of transfer. Unfortunately, that condition has not been met. The property currently carries unresolved debts and liabilities, placing it outside the original scope of M1 Homes' intended role.
- Given this, M1 Homes LLC does not believe it is appropriate or consistent with its original proposal to assume management responsibilities under the current financial conditions.
- Recommendation:
- We propose transferring property management responsibilities to ECO Systems LLC. Earl, representing ECO Systems, has been closely involved in the property's financial tracking and has maintained comprehensive and transparent spreadsheets regarding its operational and debt status. His proactive engagement and detailed oversight make him well-positioned to step into the property management role at this time.
- Key Points Supporting This Proposal:
- Original Agreement Integrity: M1 Homes' proposal was contingent on a debt-free property. Continuing under current conditions would contradict that premise.
- Established Oversight: ECO Systems, led by Earl, has already demonstrated deep operational familiarity with this property through diligent financial documentation.
- Capital Flexibility: Upon transition, ECO Systems LLC will have the discretion to propose capital calls to EARLDAO as needed for property stabilization and repair planning.
- Operational Efficiency: ECO Systems LLC, in coordination with Hemlane as sub-property manager, offers a lean and transparent fee structure with no repair markups and rent-readiness verification.
- Property Management Transition (If Property is Retained):
- Option 1 ) Transition to ECO