W 89th St Cleveland, OH 44102
Property Information
| Current Status | 1/2 Occupied |
|---|---|
| Lease Start Date | 10/31/2025 |
| Lease End Date | 10/30/2026 |
| Utilities | Lawn/Water/Sewer paid by Owner |
| Initial Investment* | $77,675 |
*Includes down payment plus $3,000 of closing costs
Purchase Price $290,000
| Current Rent | $2895 |
| Cap Rate | 9% |
| Cash on Cash Return* | 30% |
| Net Cash Flow Per Month* | $615 |
*Assuming 25% down with a loan at 1PTS + 7% interest for 30 years. Including equity build up and 3% appreciation per year.
- About This Property
The West Eighties in West Cleveland is one of the city’s best-kept secrets—an area quietly revitalizing while keeping its classic Cleveland charm. Tree-lined streets, character-filled homes, and a welcoming community make it ideal for planting roots or investing. Its proximity to Lakewood, Edgewater Park, and the growing Detroit–Shoreway Arts District offers the perfect blend of peaceful living and vibrant amenities. With ongoing development and rising property values, the neighborhood is becoming a hotspot for investors seeking strong cash flow, long-term appreciation, and the chance to get in before prices climb even higher.
This is a Duplex, with an upper and lower unit. The upper is currently occupied and the lower unit is listed for rent. Each unit is a 2 bed/1 bath. Hardwood floors throughout, updated baths and kitchens. Beautiful neutral paint throughout. Separate utility meters.
Renovations include:
Interior Updates (Whole Home):
Fresh paint on all walls, ceilings, trim, and interior doors
New LVP flooring installed throughout the home
Updated lighting fixtures and ceiling fan replacements
New blinds installed across multiple rooms
Door hardware adjusted and servicedKitchen:
New kitchen countertops installed
Cabinets fully repainted for a clean, modern look
Updated lighting
New smoke & CO₂ detectors installed
New Stainless Steel appliances X 2(fridge, stove, dishwashers)Bathroom:
New light fixture installed
Freshly painted walls, ceiling, trim, and door
Updated finishes for a clean, refreshed space
Living Spaces & Bedrooms:
Full repaint in both living rooms, hallway, and stairwell
New ceiling fan (main living room)
New lights in various rooms
Doors painted or replaced as neededPorch:
Painted walls, ceiling, trim, and floor
Broken glass replaced
Safety & Structural Enhancements
New handrails installed on stairway
Steps repainted
Smoke & CO₂ detectors addedExterior & Clean-Up:
Full yard clean-up and debris haul-away
Interior clean-out of basement and attic
Maid service for final deep cleanChimney:
Chimney inspected and repairedUtilities:
Separate Meters for each unit- 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
Your turnkey property already has a local property management company in place. During the purchasing process, you will be introduced to them.
- 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