TRUE TURNKEY CLEVELAND SFH 10% CAP!! - Occupied!
CALLING ALL INVESTORS!!
NEW and nicely updated completely turnkey Maple Heights Property. This investment property is currently tenanted on an annual lease with the tenant paying $925/month. At a 10.3% cap rate, take advantage of this TRUE turnkey opportunity.
Reach us directly at (866) 228-7780 or via email at [email protected]
This bright and fresh home offers so much! Large updated Kitchen with built-ins and eat-in area. New flooring. Large Living Room. New neutral carpet throughout the home! 2 Bedrooms on the first floor. Updated Bath with Tub/Shower. Upstairs-be surprised with the cozy sitting area and the large closet of this Master Bedroom! Finished Basement offers more entertaining area! 2-Car garage! Close to highways for easy access.
Property Investment Highlights
♦ Close proximity to new AMAZON distribution center
♦ Up to 80% financing available
♦ Comprehensive turnkey renovation
♦ City Point of Sale Compliant
♦ Now leased for $925 per month
| YEAR 1 PROJECTED FINANCIALS: TOKAY | ||
| Finance | ||
| Price | $ 69,900 | $ 68,000 |
| Mortgage Amount (80%) | $ 55,920 | |
| *Interest Rate | 6.50% | |
| Term (months) | 360 | |
| Monthly Payment | $ (353) | |
| Annual Mortgage Payment | $ (4,241) | |
| Monthly Gross Rent | $ 925 | $ 925 |
| Annual Gross Rent | $ 11,100 | $ 11,100 |
| Property Tax | $ 2,550 | $ 2,550 |
| Property Management (10%) | $ 1,110 | $ 1,110 |
| Insurance (est) | $ 550 | $ 400 |
| Annual Fixed Expenses | $ 4,210 | $ 4,060 |
| Net Operating Income | $ 6,890 | $ 7,040 |
| Annual Mortgage Payment | $ (4,241) | |
| Net Annual Income | $ 2,649 | $ 7,040 |
| Cash Down Payment (20%) | $ 13,980 | $ 68,000 |
| Cash on Cash / Cap Rate | 18.95% | 10.35% |
| *Rate is for illustration only. Lender fees may apply. |