Double in West Side Cleveland, $40,000. 28% CoC. Does require TLC

[Federico Gutierrez]

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Great Rental Property or live in one unit and rent the other. 2/3 bedrooms down and 1 bedroom up-current rent in the area is comparable. House is on a deep lot 40x156 with oversized garage. Down unit needs kitchen flooring and cabinets installed, will remain with the house. Many updates including windows, waterproofing with transferable warranty, newer furnace, electrical panels , roof(on main house not addition) glass block in basement. Part of up unit has been remodeled. Newer garage door with an opener. Security system will stay. Property does need about  work to make this property rent, I suggest put $7000 in the budget. Most of work is cosmetic inside the units.

Assuming 4.5% interest, 30 year mortgage & a 25% down payment.

• Down payment $ 9,975.00
• Up Front costs $ 7,000.00.
• Estimated Yearly Rents $ 13,200.00
• Estimated Yearly Expenses $ 6,600.00
• Yearly Debt service $ 1,819.51
• Net cash flow after expenses & debt service $4,780.49

CASH ON CASH RETURN 28.2%

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