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$170,000

For Sale - Active
3533 Carlyle Ave, Cleveland, OH 44109
3 Beds
4 Baths
1,836 Square Feet
0.00 Acres Lot
Built in 1880
For Sale - Active
Units n/a
Checked: 11 hours ago
Updated: May 09, 2025 at 03:21AM

Investment Summary


Monthly Cash Flow
-$104
Cap Rate
5.5%
Cash-on-Cash Return
-3.2%
Debt Coverage Ratio
0.88
Internal Rate of Return (5 years)
0.9%

Property Description


0.00 Acres Lot
Built in 1880
For Sale - Active
Units n/a

This property is owned by a licensed real estate agent in the state of Ohio. Welcome to 3533 Carlyle Ave, Cleveland, OH 44109. A unique and versatile investment opportunity in the heart of the city. This legally designated 2-unit property offers the potential to function as a triplex, providing excellent flexibility for owner-occupants or investors. With 3 bedrooms, 3 full bathrooms, and 1 half bath, this property offers ample space for comfortable living across multiple units. The home is Lead Safe Certified, giving peace of mind for compliance and tenant safety. A 2-car detached garage provides secure parking, and the property is fully fenced-in, offering privacy and security for residents. Whether you're looking to expand your portfolio or live in one unit while renting out the others, this property is full of potential. The layout and space make it ideal for a variety of living arrangements and rental strategies. Located near major highways, public transportation, and local amenities, 3533 Carlyle Ave is positioned for long-term value. Don?t miss this chance to own a truly flexible, income-generating property in one of Cleveland's established neighborhoods.

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Location


Property Details


Parking

  • Description: OnSite
  • Details: Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Partial): 1
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 12
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Unfinished

Exterior Features

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

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 01504104
  • Lot Size: 0 sqft

Property Information

  • Property Type: Triplex
  • Year Built: 1880

Tax Information

  • Annual Tax: $1,330

Utilities

  • Water & Sewer: Public
  • Heating: Forced Air
  • Cooling: Attic Fan, Window Unit(s)

Location

  • County: Cuyahoga

Listing Details


Listed by:
Kyle Cutler
EXP Realty, LLC.
(440) 212-0176

Source:
MLS Now
MLS#: 5115825
MLS Now

Investment Summary


Monthly Cash Flow
-$104
Cap Rate
5.5%
Cash-on-Cash Return
-3.2%
Debt Coverage Ratio
0.88
Internal Rate of Return (5 years)
0.9%

Purchase Details

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Purchase price:
$170,000
Amount financed:
-$136,000
Down payment:
$34,000
Closing costs:
$5,100
Rehab costs:
$0
Initial cash invested:
$39,100
Square feet:
1,836
Cost per square foot:
$93
Monthly rent per square foot:
$0.71

Financing Details

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Loan amount:
$136,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$890
Property tax:
$111
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,092

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$111-$1,331
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (34%)
34%-$436-$5,231

Cash Flow


Monthly Yearly
Net operating income:
$786 $9,432
Mortgage payments:
-$890 -$10,680
Cash flow:
$104 $1,248