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$150,000

Sale Pending
3234 W 119th St, Cleveland, OH 44111
4 Beds
2 Baths
1,558 Square Feet
0.00 Acres Lot
Built in 1920
Sale Pending
2 Units
Checked: 13 hours ago
Updated: Jun 20, 2025 at 03:09AM

Investment Summary


Monthly Cash Flow
$94
Cap Rate
6.4%
Cash-on-Cash Return
3.3%
Debt Coverage Ratio
1.13
Internal Rate of Return (5 years)
7.2%

Property Description


0.00 Acres Lot
Built in 1920
Sale Pending
2 Units

Welcome to this turnkey rental property. Updated in 2022, this duplex features two 2 bed / 1 bath units. Each unit was bringing in $950 a month. This property would be perfect for anyone looking to house hack or add a property to their portfolio

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Location


Property Details


Parking

  • Description: Unpaved
  • Details: Unpaved
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 2
  • Basement: Yes

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Roof Type: Gable
  • Roof Material: Asphalt, Fiberglass

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 02121084
  • Lot Size: 0 sqft

Property Information

  • Property Type: Duplex
  • Year Built: 1920

Tax Information

  • Annual Tax: $2,774

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Other

Location

  • County: Cuyahoga

Listing Details


Listed by:
Adam W Burr
HomeSmart Real Estate Momentum LLC
(440) 759-7059

Source:
MLS Now
MLS#: 4469862
MLS Now

Investment Summary


Monthly Cash Flow
$94
Cap Rate
6.4%
Cash-on-Cash Return
3.3%
Debt Coverage Ratio
1.13
Internal Rate of Return (5 years)
7.2%

Purchase Details

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Purchase price:
$150,000
Amount financed:
-$120,000
Down payment:
$30,000
Closing costs:
$4,500
Rehab costs:
$0
Initial cash invested:
$34,500
Square feet:
1,558
Cost per square foot:
$96
Monthly rent per square foot:
$0.96

Financing Details

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Loan amount:
$120,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$710
Property tax:
$231
Insurance:
$105
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,046

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,500 $18,000
Vacancy loss: (6%)
6% -$90 -$1,080
Operating income:
$1,410 $16,920

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$231-$2,774
Insurance: (7%)
7%-$105-$1,260
Property management: (8%)
8%-$120-$1,440
Repairs & maintenance: (5%)
5%-$75-$900
Capital expenditures: (5%)
5%-$75-$900
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$606-$7,274

Cash Flow


Monthly Yearly
Net operating income:
$804 $9,648
Mortgage payments:
-$710 -$8,520
Cash flow:
$94 $1,128