2017 Cleveland Duplex Expenses Exposed

[Andrew A.]

I wanted to share my annual expenses because I had to do a lot of guesstimates before I bought my duplex.  I swear when I asked some investors their expenses they acted like they had amnesia.   Since I have over a year history with my duplex in Cleveland (and before I get amnesia lol), I wanted to share some numbers.

These are averages for my Cleveland Duplex in 2017.  Expenses for your property may vary.  The duplex has 4 occupants and is ~4000 sq ft.  

MONTHLY EXPENSES

Taxes: $208

Taxes are hiiiigh...and my property isn't even in the heights or soccer mom burbs. I've seen some mediocre homes that have annual taxes of $6000 +. These taxes can surpass some HOA fees!

Gas: $140

Brrrrrr...You better believe it gets cold here in Cleveland!  And it stays cold for a long time.  My duplex has hot water radiators.  Also my duplex is gigantic (4000 sq. ft).  Gas expense is a big deal in the midwest.  I remember my California days when my gas bill was negligible.. like $10-15.  

Sewer and Storm Drain: $80

In Cleveland they itemize separately Sewer and Storm Drain. To be honest, I think it's because the city is having to fix a lot of the archaic sewer drains. I always see the city crew working on the streets and replacing the old system, digging to China and back.

Water: $60

Water and Sewer is separate but you dial the same number to contact them. 

Insurance:  $120

Gives us that peace of mind.

Lawn-care: $35

I pay my lawn guy $30 dollars per cut and he does a really good job.  Pretty grid lines and clean edges.  Your frequency may vary from mine and typically start from April/May to November/December.  

Just a quick post for someone who might be doing the calculations on their deal in Cleveland.  It's just a ballpark of what your Cleveland Duplex expenses could look like.  The bigger pockets calculators goes more in depth with cap ex., vacancy etc.  I highly recommend it!

Let me know if you have any questions.

If you have a duplex, share your numbers and other miscellaneous expenses!  Do you think my numbers are wonky?

Thanks,

Andrew

[Avi Garg]

Andrew A.

Good idea to compare expenses. Mine are similar so I will list the ones that are different:

Gas: Tenants pay this. So $0 expense for me
Sewer: $125 .. much higher than yours
Insurance: $80 ... lower than yours. You should shop around
Tax: $158. I was paying $216 but I contested my tax based on purchase price and my taxes were lowered.
Mowing: $33/mow and usually takes 2 mows/month