Updated about 9 years ago on . Most recent reply
Fully Occupied Duplex "C" Neighborhood, 31.55% COC ROI!
Beautiful Duplex in “C” West Boulevard area of Cleveland.
Each unit features 2 bedrooms and 1 bathroom.
Recreation room in dry basement. Rents could be higher. Each of the hot water tanks are newer. Each unit is freshly painted with new carpet in some of the rooms. The other rooms are all refinished beautiful hardwood floors that shine like a mirror. The basement has both washer and dryer hookups. Some ceiling fans. Very large attic area with ample storage etc or as an additional workout or computer rooms. Each unit has appliances. Close to freeways and downtown and shopping. Updated bathrooms too. New roof and other external upgrades. Each unit has their own enclosed front porches. Separate entrances. New gutters and downspouts. New lattice under both front and rear porches. Some minor exterior carpentry work done to the exterior as well as the entire home being painted. The interior also had much new drywall and new kitchen cabinets in the down unit as well as an updated bathroom.
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Financials:
Purchase price: $68,000
Down Pmt: $17,000
Rent: $1210
Vacancy: $61
Maintenance: $61
Management: $121
Cap Ex: $121
Taxes: $134
Utilities: $100
NOI: $713/month $8,556/year
Debt Service: $266/month
Cashflow: $446/month or $5,363/year
ROI: $5,363/17,000 = 31.55%
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If you've been looking in Akron, Memphis, Nashville, Denver, Indianapolis, Dayton, Toledo, Pittsburgh, St. Louis, Kansas City, Atlanta, Charlotte, or other cities for Turnkey opportunities, you're missing out if you aren't looking Cleveland!
Turkey rentals without the turnkey price! One stop shopping!
I've helped many Bigger Pockets investors grow their portfolios in Cleveland and I want to do the same for you!
Most Popular Reply
Hey there Matt Motil. Great property.