Renovation Highlights

  • Updated kitchen and baths!
  • New siding installed on garage exterior
  • Drywall repairs and fresh paint throughout!
$ 96,000
3 bd
1.5 ba
1144 sqft
Turnkey Income Property
Monthly Rent: $1200
**83 CEDARBROOK, Cleveland Heights, Ohio

Property Overview

  • Recently Renovated

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Property Features

  • 3 Bed/ 1.5 Baths / 1,144 Sq. Ft.
  • Renovated, turn-key ready
  • Second Floor Den
  • New floors in Kitchen
  • Detached Garage
  • New Porch Sliding glass doors

Property Highlights

  1. Buy for $99K financed or $96K Cash
  2. Sold 12 years ago, in 2007 for $155,000!
  3. Up to 85% LTV Investor-Financing Available
  4. Seller includes 1 Year Home Warranty!
  5. Property Management in place

YEAR 1 PROJECTED FINANCIALS: CEDARBROOK

Financing

Cash

Price

99,000

96,000

Mortgage Amount

84,150

Interest Rate

4.50%

Term Months

360

Monthly Payment

426

Annual Mortgage Payment

5,117

Monthly Gross Rent

$1,200

$1,200

Annual Gross Rent

$14,400

$14,400

Property Tax

$2,852

$2,852

Property Management

$1,440

$1,440

Insurance

$550

$400

Annual Fixed Expenses

4,842

4,692

Net Operating Income

$9,558

$9,708

Net Annual Income

4,441

9,708

Cash Down Payment

19,800 @ 20%

96,000

Cap Rate

22.43%

*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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