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Archived about 3 years ago

$146,430

6+ bd 3 ba 2250 sqft

1405 - 1407 New Jersey Avenue , Lorain, OH 440(2

Residential Duplex Occupied Needs Repairs

Current Rent **

$1,545

Projected Rent **

$2,100

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Posted By:

Charles Smith

Unit 1 Details
  • Current Rent: $850
  • Bedroom: 3 bd
  • Bathroom: 1½ ba
  • Square Footage: 1125 sqft
  • Occupied: Yes
  • Needs Repairs: No
  • Off MLS: No
Unit 2 Details
  • Current Rent: $695
  • Bedroom: 3 bd
  • Bathroom: 1½ ba
  • Square Footage: 1125 sqft
  • Occupied: Yes
  • Needs Repairs: Yes
  • Off MLS: No

Highly Profitable Duplex

Great investment opportunity. Both units have been partially renovated and both sides are occupied by long term tenants (10+ years on one side). Each unit has a 1 car garage. Property is professionally managed. Each unit has laundry hook-up. Tenants pay all utilities including water and trash.

Two units, 3 bedrooms, 1 1/2 bathroom on each side. Solid turn key investment with room to grow and increase rents.

(703) 945-4304

Location:

1405 - 1407 New Jersey Avenue , Lorain, OH 440(2

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.