Renovation Highlights

  • new electric panel & new HWT
  • new interior & exterior paint
  • new flooring & carpet throughout
  • new kitchen & bath renovations
  • new appliance package
  • new interior doors
  • new lighting and fixtures throughout

*contact us for the full scope of work details

$ 119,900
3 bd
1.5 ba
1,100 sqft
Turnkey Income Property
Monthly Rent: $1,225
***1 E 342nd St, Eastlake, OH 44095

Property Overview

Location! Eastlake is a very popular eastern suburb of Cleveland and welcomes Lake Erie as it Northern border. This completely renovated and turnkey ranch property is a sure-attraction to parents downsizing and or elderly tenants. In either case = LONG TERM. We have beautifully renovated the property inside and out which will attract the best market tenants and homebuyers. Don't wait & contact us today! LOW TAXES in greater Cleveland!
  • 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

  • very popular area & superior location
  • one floor living for downsizers
  • 2 car refurbished garage
  • backyard enjoyment
  • completely renovated

Property Highlights

  • 15.90% projected cash on cash return!
  • Grade A investment property
  • fully turnkey & comprehensively renovated
  • appreciating & popular area for longterm residents
  • full management in place for new owner

Projected Year 1 Core Financials

(for estimating purposes only)

Monthly Rent: $1,225

Gross Annual Income: $14,700

Property Tax: $2,035

Property Mgmt: $1,470

Insurance: $500

Projected NOI: $10,695

 

Cap Rate: 8.92%

Cash on Cash: 15.90%

 

Direct Price: $119,900

Price w/ Agent: $128,000

20% Down: $23,980

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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