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Updated over 6 years ago on . Most recent reply

Help me analyze this deal
Hey Guys!
First time here and I am looking to purchase a single family house in Cleveland OH.
Asking price is $45,000
Area = 1742sq
Looking to put 20% down and amortize for 10-15 @ 5% or so
The house is currently renting for $1,100 a month and the tenants are looking to stay long term.
Rental Income = $1,100\month
Property taxes for this house was $1,168 last year.
Water and Sewer averages about $80-$100 a month combined.
Property insurance is about $800-$900 a year.
Let me know what you guys think.
Thanks!!
Most Popular Reply

- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
- 19,699
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The numbers themselves are amazing. If you are looking at these numbers in a vacuum you won't find better than $1,100/mo for a $45k investment. What is important is the location. Is that $1,100 going to be consistent. Is $45k truly an accurate value. What level of risk is involved in this investment. Have you worked in higher risk areas before as I assume the risk level here to be moderate to high.