Renovation Highlights

  • new 100 amp electric panel
  • updated kitchen cabinets & countertop
  • stainless steel appliance package
  • new flooring & carpet throughout
  • fresh interior paint throughout
  • nice baseboards, trim, and crown-molding feature
  • central air
$ 119,000
4 bd
1.5 ba
1,384 sqft
Turnkey Income Property
Monthly Rent: $1,250
**00 Portman Ave, Cleveland, OH 44109

Property Overview

Just fully renovated, turnkey & LEASED! 4/1.5 : almost 1,400 sq ft + 3rd floor attic, finished basement, and 2 car garage with heated workspace - this property has already been biggie-sized...would you like fries with that? More features than space to type them. Call today. 1 year home warranty included.
  • Fully Renovated

    i Fully renovated is a general marketing term applied for properties which have undergone comprehensive renovation and/or refurbishment improvements. Please review the “Renovation Highlights” and be sure to inquire about specific improvements were completed to properties in which you have interest. Ultimately, you should only depend on your observations and any reports obtained for complete accuracy.
  • 1 Year Warranty

    i This property is offered for sale in a structured format designed for turnkey property buyers. As such, a 1 year home warranty is included in the price and is currently offered through America’s Preferred Home Warranty (APHW). APHW forms must be included in your purchase-paperwork package in order to apply. Please refer to this documentation for program details.
  • Financing Available

    i This property is eligible for financing. You are welcome to use your own lenders (please have a qualified lender pre-approval ready), or ask us for our preferred lenders and we are happy to provide a referral.

Property Features

  • 2+ car extended garage with workshop
  • 1st floor master bedroom
  • 4 spacious bedrooms + 3rd floor attic
  • finished, tiled basement with office area
  • built-ins and fireplace features

Property Highlights

  • leased for $1,250 + water fees (effective January 1)!
  • Very popular area in 44109 & unique property features
  • Fully renovated & turnkey w/ immediate income
  • Purchase with as little as 15% down
  • Full management ongoing and available to new buyer

Projected Year 1 Core Financials

(for estimating purposes only)

Monthly Rent: $1,250

Gross Annual Income: $15,000

Property Tax: $2,360

Property Mgmt: $1,500

Insurance: $500

Projected NOI: $10,640

 

Cap Rate: 8.94%

Cash on Cash: 15.89%

 

Direct Price: $119,000

Price w/ Agent: $123,500

20% Down: $23,800

Disclaimer: The estimated analysis are presented in good faith and in no way represent a commitment on the part of the Seller(s), or any affiliate thereof, to provide the returns indicated herein. Please be sure to understand the risks associated with investing in real estate and make appropriate assumptions; while 1-year (3rd party) warranties are typically offered as a mitigator for certain expense risks, they should not be a replacement for normal rental property assumptions. Any promotions or other marketing statements must be included in the transactional paperwork associated with the property in order to be valid. Please be sure to conduct your own due diligence and seek your own professional advice.

Direct Offer

Price w/ Agent

20% Down Payment

Preferred Lenders LINK

Annual Gross Income

Est. Annual Property Taxes

Annual Property Management

*Rate is for illustration only. Lender fees may apply.

Disclaimer: The estimated analysis are presented in good faith and in no way represent a commitment on the part of the Seller(s), or any affiliate thereof, to provide the returns indicated herein. Please be sure to understand the risks associated with investing in real estate and make appropriate assumptions. Any promotions or other marketing statements must be included in the transactional paperwork associated with the property in order to be valid. 2020realestate.com is not a lender or property owner. Please be sure to conduct your own due diligence and seek your own professional advice.

Resources

Preferred Insurance Provider

NREIG.com

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