3BR/1BA 1,188 Sq Ft SFH Yielding 10.2% NET ROI
This single family home was recently renovated to owner occupant standards in a beautiful suburban neighborhood! Upgraded throughout – granite counter tops, ceramic tile kitchen flooring stainless steel appliances. It features 1,188 square feet with 3 beds, 1 bath and an attached garage. You have the opportunity to purchase this beautiful property at 40% less than its peak sale of $125,000 in 2006! Take advantage of this great investment before the prices continue to increase in this renaissance market. Tenant already in place with 1 year lease. Management fee is included for the first year. Afterwards it will cost $100 per month. Property yields a conservative 10.2% net cap rate which includes a monthly reserve for both maintenance and vacancy.Tenant pays all utilities.
- Ohio Unemployment rate down to only 5.7% (July 2014)
- May 17, 2014 – Trulia.com ranks Cleveland as the #8 most affordable city for home buying in the USA!
- Lebron James return expects to boost economy by $500M annually
- University Hospitals Case Medical Center renovation project worth $560M
- Chrysler’s Toldeo plant to get $500M investment
- Public Square casino project worth $350M
- 2016 Republican National Convention Headquartered in Cleveland ($250M)
- New convention center & medical mart project worth $465M
- Ford’s Cleveland plan to get $128M worth investments
- InvestOhio: a $100M tax credit program for SMEs by Ohio Department of Development
About the Neighborhood
- Zestimate – $93,974
- Neighborhood 3BR average list price – $85,012
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Property is considered available until an earnest money deposit is received or purchase agreement is signed.
The estimated analysis are presented in good faith and in no way represent a commitment on the part of 52 Properties, or any affiliate thereof to provide the ROI described herein. The performance summary is meant only to outline, for the purpose of further discussion, and is no guarantee of future results. Lender fees may or may not apply. While 52 Properties takes all appropriate steps to ensure accuracy, we cannot accept responsibility for any discrepancies therein. Please conduct your own due diligence.