Value-Add Investment Opportunity in Cleveland, OH

• 4 Beds / 2 Baths • 2,142 SqFt
Offer Submission Deadline
  • Single Family House
  • 4
  • 2
  • 1927
  • 2142
  • 5200
  • 2

Description

Property Details

  1. Property Type: Duplex
  2. Investment Strategy: Buy and hold
  3. Estimated ARV: 175k
  4. Estimated Rehab: 55k
  5. Title Company: Pinnacle Escrow and Title, LLC


Estimated Rental Performance

  1. Estimated rent per unit: 950–1.1k/month
  2. Estimated total duplex rent: 1.9k–2.2k/month
  3. Estimated annual gross rent: 22.8k–26.4k


Comparable rentals in the surrounding area generally support this range. Zillow’s automated estimate is lower at 1,360/month for the entire property, but that figure may not reflect two renovated and separately rented units.


Taxes and Insurance

  1. Most recently reported property taxes: approximately 1.4k/year
  2. Estimated landlord insurance: 1.3k–1.8k/year
  3. Recommended underwriting amount: 1.5k/year


The property’s reported 2024 tax bill was 1,404. Cuyahoga County bills real-estate taxes twice annually and in arrears.

Ohio landlord insurance averages about 1,093 annually, but I would underwrite this older duplex at approximately 1.5k because of its age, multiple units, and increased replacement risk.


Estimated ROI Based on 175k Market Value


Using 2k/month total rent:

  1. Annual gross rent: 24k
  2. Property taxes: 1.4k
  3. Insurance: 1.5k
  4. Vacancy allowance, 5%: 1.2k
  5. Maintenance allowance, 8%: 1.92k
  6. Management allowance, 10%: 2.4k
  7. Estimated annual NOI: 15.58k
  8. Estimated cap rate/ROI: 8.9%


Without professional property management, the projected return increases to approximately 10.3%.

This calculation is based on the 175k stabilized market value, not the investor’s actual cash invested. To calculate the true cash ROI, I would still need the buyer’s purchase price and financing terms.


Next Steps

  1. Contact us for additional information
  2. Schedule a property walkthrough, if applicable
  3. Make an offer directly on this page
  4. Sign an assignment agreement or direct agreement
  5. Send EMD within 3 hours of signing
  6. Lock up the deal
  7. Make money and repeat :)


For questions or to make a deal happen, call:

George (954) 282-1367


Disclaimer

IMPORTANT: This listing represents an assignment of a purchase contract or direct contract as a double close, if applicable—not a direct property sale. Buyer is responsible for conducting their own due diligence. All information provided is believed to be accurate but is not guaranteed. This opportunity is offered to qualified real estate investors only.


Time-sensitive opportunity—this contract is being offered to multiple investors.

Estimated Spread

  • ARV $180,000
  • Price $79,000
  • Spread $101,000