1885 Beverly Hills Dr
Euclid, OH 44117

Property Information

Current Status Occupied
Lease Start Date 07/23/2022
Lease End Date 07/31/2023
Utilities Paid by Tenant
Initial Investment* $31,600

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

Purchase Price $137,500

Current Rent $1,400
Cap Rate 8%
Cash on Cash Return* 21%
Net Cash Flow Per Month* $199

*Assuming 20% down with a loan at 6.5% interest for 30 years. Including 3% appreciation per year.

Renovations Completed

New kitchen light, repaired kitchen tile backsplash, repaired kitchen cabinets, repaired kitchen appliances, new dishwasher, painted kitchen cabinets, repaired bathroom tiles, reglazed bathroom tub, new bathroom mirror, refinished wood flooring throughout, new laminate flooring in kitchen landing leading to basement, new access panel in closet, new interior exhaust fan, new baseboards in basement, 2 new light fixtures in basement, new garage door opener, repaired window pane in basement, repaired downspouts, new light in front, new interior paint throughout.

This home comes with a Home Warranty.

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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