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$119,000

For Sale - Active
9788 E River Rd, Elyria, OH 44035
3 Beds
1 Bath
1,115 Square Feet
0.00 Acres Lot
Built in 1900
For Sale - Active
1 Units
Checked: 13 hours ago
Updated: Jun 05, 2025 at 03:16AM

Investment Summary


Monthly Cash Flow
$242
Cap Rate
8.1%
Cash-on-Cash Return
10.6%
Debt Coverage Ratio
1.43
Internal Rate of Return (5 years)
14.3%

Property Description


0.00 Acres Lot
Built in 1900
For Sale - Active
1 Units

Great opportunity to fix up this cute cape cod home in Elyria! This home offers a living room/dining room/ 1st floor laundry room/full bathroom and kitchen on the 1st floor. The 2nd floor offers 3 bedrooms. There is a basement and a detached 2 car garage, deck off the back of the home and a fenced in yard!!! Great potential! Home needs some work so be aware if a mortgage is required.

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Location


Property Details


Parking

  • Description: Detached, Garage
  • Details: Driveway, Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full

Exterior Features

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

Land Information

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

Lot Information

  • Parcel ID: 1000004130031
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Cape Cod
  • Year Built: 1900

Tax Information

  • Annual Tax: $1,927

Utilities

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

Location

  • County: Lorain

Listing Details


Listed by:
Kerri Johnson
Russell Real Estate Services
(440) 371-7801

Source:
MLS Now
MLS#: 5123122
MLS Now

Investment Summary


Monthly Cash Flow
$242
Cap Rate
8.1%
Cash-on-Cash Return
10.6%
Debt Coverage Ratio
1.43
Internal Rate of Return (5 years)
14.3%

Purchase Details

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Purchase price:
$119,000
Amount financed:
-$95,200
Down payment:
$23,800
Closing costs:
$3,570
Rehab costs:
$0
Initial cash invested:
$27,370
Square feet:
1,115
Cost per square foot:
$107
Monthly rent per square foot:
$1.26

Financing Details

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Loan amount:
$95,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$563
Property tax:
$161
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$822

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$161-$1,928
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (36%)
36%-$511-$6,128

Cash Flow


Monthly Yearly
Net operating income:
$805 $9,660
Mortgage payments:
-$563 -$6,756
Cash flow:
$242 $2,904