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
1352 sqft
Turnkey Income Property
Monthly Rent: $925
**608 Eldamere, Cleveland, Ohio

Property Overview

  • Recently Renovated

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Property Features

  • 3 beds/ 1.5 baths / 1,352 Sq. Ft.
  • Fully renovated, turn-key ready
  • New Carpet floors throughout
  • Freshly painted, detached garage
  • Partially finished basement

Property Highlights

  • Buy for $77K financed or $75K Cash
  • Sold 12 years ago, in 2007 for $118,000!
  • Up to 85% LTV Investor-Financing Available
  • Seller includes 1 Year Home Warranty!
  • Property Management in place

YEAR 1 PROJECTED FINANCIALS: Eldamere

Financing

Cash

Price

75,000

73,000

Mortgage Amount

63,750

Interest Rate

4.5%

0

Term Months

360

Monthly Payment

$323

Annual Mortgage Payment

$3,876

Monthly Gross Rent

925

925

Annual Gross Rent

$11,100

$11,100

Property Tax

$1,602

$1,602

Property Management

$1,110

$1,110

Insurance

550

400

Annual Fixed Expenses

3,262

3,112

Net Operating Income

7,838

$7,988

Net Annual Income

3,962

7,988

Cash Down Payment

15,000 @ 20%

73,000

Cap Rate

26.41%

*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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