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$85,000
Est. payment /mo
3 Beds
1 Bath
4,338 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Subdivision Caroline Mcillraths
MLS Listing ID 5110136
Style Colonial
Bedrooms 3
Full Baths 1
HOA Y/N No
Year Built 1915
Annual Tax Amount $872
Tax Year 2024
Lot Size 4,338 Sqft
Acres 0.0996
Property Sub-Type Single Family Residence
Property Description
This well-maintained 3-bedroom, 1-bath home in Cleveland's Collinwood neighborhood is a prime investment, generating $1,418/month in rent, paid directly by CMHA (Cuyahoga Metropolitan Housing Authority). The tenants are secured on a lease through August 2025, transitioning to a month-to-month agreement thereafter. With monthly expenses including property taxes at $72.60, insurance at $52, and water at $43, the estimated net monthly income is $1,252.40, leading to an annual net income of approximately $15,028.80. At a purchase price of $85,000, this property offers an impressive 17.7% return on investment (ROI). Recent updates include a new roof (2023), new hot water tank (2023), and a furnace (2021), making this a low-maintenance, high-yield opportunity in a strong rental market. Don't miss out on this cash-flowing investment—schedule a showing today!
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features Driveway
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Sewer Public Sewer
Water Public
Architectural Style Colonial
Level or Stories Two
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 112-25-042
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Theresa M Seese • McDowell Homes Real Estate Services • Theresa@sellwithseese.com 216-666-1411