Real Estate Agent · Westlake, OH · Member since 2016 · 121 posts · 31 votes
We currently have the property described here under contract and we are willing to sell the contract. It is decent duplex in an emerging neighborhood - the historic Franklin Ave district.
Great CAP rate of over 23% based upon $600/month rent each. Property taxes are about $900/yr, homeowners was calculated at $1000/yr and water is about $1400/yr
1 of the 2 units is occupied with the tenant paying month-to-month.
There is a community garden and a home down the street being completely remodeled.
Great opportunity for appreciation. It does need work but not a complete gut if renting.
The home inspection should take place next week, so that would be the time to get in and see it.