Brick Double in Cleveland. 50% occupied. Under Market Rents!!

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Price $87,500
Location W 117th St, Cleveland, OH, 44111
Property Details

Unit: 1

  • Current Rent: $525
  • Occupied: No
  • Bedrooms: 2
  • Bathrooms: 1.0
  • Square Footage: 750

Unit: 2

  • Current Rent: $650
  • Occupied: No
  • Bedrooms: 2
  • Bathrooms: 1.0
  • Square Footage: 750

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WELL KEPT BRICK TWO FAMILY, 2 bedrooms each unit, newer furnaces, updated windows, 2 car garage. Currently one unit is Vacant. Other is rented UNDER MARKET PRICE at $525. Rents in this area are around $600-700/month.

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

  • Down payment $ 21,875.00.00
  • Up Front costs $ 1000.00
  • Estimated Yearly Rents $ 14,100.00
  • Estimated Yearly Expenses $7050.00
  • Yearly Debt service $ 3,990.15
  • Net cash flow after expenses & debt service $3,059.85

CASH ON CASH RETURN 13.4 %

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