Lee Heights Blvd
Cleveland, OH 44128

1213 sq. ft., 3 bedroom / 2 bathroom

Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128
Lee Heights Blvd</br> Cleveland, OH 44128

Property Information

Current Status Occupied
Lease Start Date 06/24/2023
Lease End Date 06/30/2024
Utilities Paid by Tenant
Initial Investment* $28,488

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

Purchase Price $118,000

Current Rent $1,297
Cap Rate 10%
Cash on Cash Return* 38%
Net Cash Flow Per Month* $356

*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 roof, new rain gutters, new furnace (photo coming soon), new asphalt driveway (photo coming soon), updated kitchen updated with granite counters, new fridge and stove, new kitchen and bathroom windows, updated bathroom with new ceramic tile surround, new bathtub faucet and handles, glazed bathtub, new vanity and faucet, new luxury vinyl plank flooring throughout, restored hardwood floors, new carpet on second floor, new door handles throughout, new light fixtures throughout, new electrical outlets & switches, updated plumbing, new paint in basement, new smoke & CO detectors and thermostat, repaired garage roof, power washed exterior, new interior paint throughout, new mailbox.

This home comes with a home warranty.

Being marketed for Lone Street Homes

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

Click here to learn more about the property management in our markets. If you have any further questions please schedule a call with an advisor

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

Click here to learn more about buying rental properties from MartelTurnkey. If you have any further questions, schedule a call with an advisor