Sale Pending: 21551 Morris Ave, Euclid OH $75,000

Major Improvements:

New Windows, Siding, Roof, Interior & Furnace (2012), Ceramic Tile Kitchen & New Garage Door (2014), and 1st floor Bathroom Remodeling & Hardwood floor sanded and refinished (2015).   

Characteristics:

Bedrooms: 3

Bathrooms: 2

Square Feet: 1,200 (400sq ft of unfinished basement)

Lot Size: 5,000 sq ft

Year Built: 1951 (effective year built 1978)

Stories: 2 floors with basement bungalow

Parking: 2 car garage remodeled in 2012

Annual Income/ Expenses/ Cap Rate:

Rental Income: $13,800

City Rental Fee: $200

Taxes: $1,276

Insurance: $840

Vacancy (5%): $690

Maintenance (7%): $966

Management (10%): $1,380

Utilities: $1,200

Net Income: $7,248 ($604/month)

Cap Rate: 9.6%

CLE Real Estate LLC / T 216.395.4411 / info@cle-realestate.com / © 2017 CLE Real Estate. Cleveland, Ohio USA

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