Westview Ave Cleveland, OH 44128
Property Information
Current Status | Occupied |
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Lease Start Date | 04/21/2025 |
Lease End Date | 04/20/2026 |
Utilities | Paid by Tenant |
Initial Investment* | $33,900 |
*Includes down payment plus $3,000 of closing costs
Purchase Price $120,000
Current Rent | $1,190 |
Cap Rate | 9% |
Cash on Cash Return* | 31% |
Net Cash Flow Per Month* | $314 |
*Assuming 25% down with a loan at 1PTSÂ + 7% interest for 30 years. Including equity build up and 3% appreciation per year.
- About This Property
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This is your chance to get a turnkey renovated property in Cleveland. Low taxes add to your cashflow!
Key features and renovations include:
Jan ’23 New sewer line,
Major renos done in 2022 and additional done in Jan 2025.New bathtub & shower faucet,
repaired exhaust fan in bathroom,
cleaned carpet,
new flooring on steps & landing to basement,
new baseboard trim where needed (2025),
repaired ceramic where cabinets & floor meet,
repaired plumbing drain underneath kitchen cabinet,
repaired hot & cold water lines,
new door knobs & locks,
cleaned windows throughout,
new curtain hooks & closet on second floor,
new light fixtures,
new electrical outlets & switches,
new cover to electrical box,
new filter on furnace,
new heating elements on second floor,
repaired dryer vent,
new electrical meter base,
repaired siding,
new chimney cap,
landscaping,
new paint throughout in 01/25,
new C02s and smokes 01/25,
new window blinds 01/25,
new HWT (03/25)
new Furnace (03/25) - Financing Options
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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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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
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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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Click here to learn more about buying rental properties from MartelTurnkey. If you have any further questions, schedule a call with an advisor
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