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Phone: (800) 788-5179

Email: contact@flippingkings.com

Property id(6584) is Reserved

Property id(6584) is Sold

Email: contact@flippingkings.com

(800) 788-5179

8605 Macomb Ave, Cleveland, ohio 44105Download Brochure

Short Remarks

 

Distinctive Features

Fully Rehabbed Single Family House Renting for $795/Mo…Huge $7,450 Net Annual Return…Outstanding Neighborhood Bordering Garfield Heights Suburb…A Real Steal for the Savvy Investor!!

Rental Information

This property rents for $795 a month to a Brand New Tenant on a One-Year Lease. This Tenant has paid a Security Deposit equal to one month's rent at move-in. This Deposit will be credited to the New Owner at closing. The Current Property Manager who places the Tenants will stay on and manage this property for the New Owner, ensuring a smooth transition after the sale. 

Property Amenities/Work Completed

This property has been fully rehabbed. Amenities include:

  • Brand New Architectural Roof
  • Vinyl Siding
  • Freshly Painted Interior
  • Newly Refinished Hardwood Floors
  • Brand New Carpet
  • Brand New Furnace
  • Newer Hot Water Heater (3 Years Old)
  • Updated Plumbing
  • Remodeled Kitchen
  • Remodeled Bath




 

 



 

Full Remarks

 

Market Analysis 

Cleveland is another one of our targeted markets for huge returns on your investment dollar. Recently, the Cleveland Market has become a hotbed of Investor activity due to huge ROI, inexpensive housing and consistent, stable rental market growth. Here are some noteworthy points to consider about the Cleveland Market:

- Price to Rents Ratio Ranked 2nd Nationally.

- Ranked the #1 Investment Market in the US in 2017 by Realtor.com.

-Ranked the #1 Investment Market for Return on Rental Properties by Home Union.  

- 16.2% Appreciation Rate for 2017 According to Realtor.com and Home Union.

- 11 Fortune 500 Companies Headquartered Here including Goodyear, Sherwin Williams and Progressive Insurance.

- Cleveland was a manufacturing mecca in the 19th and 20th Centuries as the home of John Rockefeller's Standard Oil as an example. Manufacturing still plays a vital role in Cleveland's Economy (Top 5 Industrial Market in the USA) but, recent economic diversification of the region has seen the finance, healthcare and technology sectors explode in growth.

- The World Famous Cleveland Clinic Healthcare System is one of the Nation's finest and most progressive Health Care Facilities that employs 48.000 people.

- 27 Area Colleges and Universities.

- Cleveland's unemployment rate is consistently well below the national average of the largest 30 cities in the USA.

- Home to the Rock n Roll Hall of Fame, the recent 2016 Republican National Convention and a thriving new Downtown Casino and Entertainment Complex.

- Cleveland Ranked the Most Affordable Housing Market in the Country for 2017 (US News & World Report).

- Entrepreneur Magazine ranks the Greater Cleveland region "hotter" for entrepreneurs than San Francisco, Boston, Seattle and New York.

- Housingwire.com ranked Cleveland #1 in the country in regards to housing improvement with a 6.5% quarter over quarter increase in price, rebounding from a -18% loss during the real estate bubble.

With a burgeoning economy, an inexpensive and thriving housing and rental market, it is no wonder Investors are flocking to Cleveland. The time is now to take advantage of all that the Cleveland Market has to offer for your Real Estate Investing Portfolio!!

  • Purchase price :

    $69,900
BUY NOW
  • Property Details

  • Bedrooms:

    3
  • Baths:

    1
  • Sq FT:

    1,144
  • YEAR Built:

    1920
  • TYPE:

    Single Family
  • LOT SIZE:

    3,550
  • Cash Flow analysis

  • MONTHLY RENT PMT :

    $795
  • ANNUAL RENT :

    $9,540
  • Estimated* Hazard Insurance:

    $360
  • Estimated* Property Taxes:

    $822
  • Property Management Exp:

    $900
  • Annual Utilities Exp:

    $0

Estimated* Net Income:

$7,458

* These estimates are based on current information and projections and are not a guarantee of future income. All investments have risk. Additional or increased expenses and vacancies could effect your actual realized return on your real estate investment property.

Comps

Property Address Purchase Price Date Sold Type of Deal # of Beds # of Baths
8425 Vineyard Ave $74250 6/20/18 Single Family 3 1
7900 Connecticut Ave $78000 2/21/18 Single Family 3 1
9513 Rosewood Ave $83000 11/15/17 Single Family 3 1