Renovation Highlights

  • Updated kitchen and baths!
  • New high efficiency furnace and AC condenser!
  • Drywall repairs and fresh paint throughout!
  • New flooring & carpet throughout
$ 75,000
3 bd
1.5 ba
1227 sqft
Turnkey Income Property
Monthly Rent: $975
**519 Maple Heights Blvd, Maple Heights, Ohio

Property Overview

Welcome to a fully renovated and turnkey income producing property located in a popular section of Maple Heights, an Southern suburb of Cleveland, Ohio.  This single family home investment property benefits from location which has a close proximity to a new AMAZON distribution center in nearby North Randall - adding 2,000 new jobs! Lease marketed at $975 per month, this soon to be income producing property providing positive cash flow. Professional property management is in place to enable a seamless and passive ownership transition.
  • 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

  • 3 Bed / 1.5 Baths / 1227 Sq. Ft
  • Fully renovated, turn-key ready
  • New windows throughout
  • New garage double door
  • Detached Garage

Property Highlights

  • Buy for $75K financed or $73K Cash
  • Sold 18 years ago in 2001 for $89,900!
  • Up to 85% LTV Investor-Financing Available
  • Seller includes 1 Year Home Warranty!
  • Property Management in place

YEAR 1 PROJECTED FINANCIALS: Maple Heights Blvd

Financing

Cash

Price

75,000

73,000

Mortgage Amount

$63,750

Interest Rate

4.50%

Term Months

360

Monthly Payment

323

Annual Mortgage Payment

3,876

Monthly Gross Rent

975

975

Annual Gross Rent

$11,700

$11,700

Property Tax

$2,593

$2,593

Property Management

$1,170

$1,170

Insurance

550

400

Annual Fixed Expenses

4,313

4,163

Net Operating Income

$7,387

$7,537

Net Annual Income

$3,511

$ 7,537

Cash Down Payment

$ 15,000 @ 20%

73,000

Cap Rate

23.41%

*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.

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