Randolph Rd
Cleveland Heights, OH 44121

735 sq. ft., 2 bedroom / 1 bathroom

Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121
Randolph Rd</br> Cleveland Heights, OH 44121

Property Information

Current Status Vacant
Lease Start Date N/A
Lease End Date N/A
Utilities Paid by Tenant
Initial Investment* $28,380

*Includes down payment plus $3,000 of closing costs

Purchase Price $117,500

Current Rent $1,125
Cap Rate 8%
Cash on Cash Return* 30%
Net Cash Flow Per Month* $153

*Assuming 20% down with a loan at 2PTS + 7.25% interest for 30 years. Including equity build up and 3% appreciation per year.

About This Property

Extensive Renovations include:
* New furnace, new digital thermostat,
* Updated modern kitchen: New countertop, new kitchen cabinets, new range hood, new appliances;
* Updated bathroom: new bathroom vanity, new bathroom mirror, new tile tub surround, new bathtub, new bathroom plumbing where needed, new vanity light bulbs, new bathroom TP and towel holder;
* Refinished hardwood floors in living areas, new luxury vinyl plank flooring in kitchen and bathroom, new carpet in bedrooms,
* new front and rear doors, new rear storm door,
* repaired bedroom and closet doors as needed,
* 4 new windows,
* new blinds where needed,
* new base trim in hallway, kitchen, and bathroom,
* new smoke and CO detectors, , repaired duct work as needed,
* 9 new interior light fixtures,
* new outlets and switches,
* new paint on basement floor and stairs,
* new exterior lights,
* new interior paint throughout,
* new exterior paint.
* new kitchen appliances when tenant moves in.

Financing Options

MartelTurnkey has partnered with some of the top lenders that provide a wide range of financial solutions to meet your Rental investing needs. Talk to an Advisor to learn more or visit our partner to get pre-approved.

Property Management Company

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Investment Terms

Purchase and Sale Agreement (PSA): A PSA will be delivered electronically once an agreement has been made and must be executed by Buyer within 24 hours of receipt.
Earnest Money Deposit (EMD) of $1,000 must be wired to the Title Company within 3 days of PSA signing.
Appraisal Contingency is available for financed properties, and will be waived automatically if the property appraises for the sale price. If it does not appraise for the sale price, then the Buyer and Seller will have the opportunity to come to terms or the Buyer can cancel the contract.
Closing Date: The Closing Date will occur within 15 days of PSA execution for cash transactions and 45 days of PSA execution for financing unless otherwise agreed by Buyer and Seller.
Lease Agreement: The current lease agreement will be provided to Buyer at Closing.
Closing Costs: Closing costs shall be paid based on local custom, and will include discounts negotiated by Martel TurnKey to lower transaction costs for Buyers and Sellers. Actual closing costs will be outlined on the final settlement statement.

Buying Process

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