Maple Ave Maple Hts (CLE), OH 44137
960 sq. ft., 3 bedroom / 1.0 bathroom
Property Information
| Current Status | Occupied |
|---|---|
| Lease Start Date | 02/02/2025 |
| Lease End Date | 02/02/2027 |
| Utilities | Paid by Tenant |
| Initial Investment* | $37,505 |
*Includes down payment plus $3,000 of closing costs
Purchase Price $134,000
| Current Rent | $1400 |
| Cap Rate | 8% |
| Cash on Cash Return* | 27% |
| Net Cash Flow Per Month* | $225 |
*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
Maple Heights is a quiet, established suburb just 10 miles from Downtown Cleveland with direct access to I-480 and I-77 — suburb living with big-city convenience. Tree-lined streets, lush greenery, and well-kept homes create a welcoming, safe feel that tenants love. The city is led by a mayor who turned a prior fiscal emergency into a budget surplus, signaling strong, stable local governance. Homes here sell faster than the national average and have appreciated 7% year over year — making this an affordable market with real upside for the right investor.
Section 8 – 96% covered | $1345/1400 rent
Tenant on their second year.Renovations include:
Exterior work:
Front steps were fully repaired, tuckpointed, and painted
Trees were trimmed back from the roof
Gutters cleaned
The exterior pressure washed
Basic landscapingFully transformed kitchen:
New cabinetry and hardware
Granite countertops
New sink and plumbing
Metro tile backsplash with black grout
New appliances and a brand new range hoodOverhauled bathroom:
New vanity, plumbing, toilet
Floor-to-ceiling tiled shower
All installed with new systems throughoutElectrical was updated throughout:
All new outlets, GFCI, switches, and 12 new LED light fixturesFresh carpet in all three bedrooms
New LVP in the kitchen and bathroomInterior was freshly painted
New interior door hardware throughout
The basement was cleaned, pressure washed, dry-locked, and paintedNew hot water tank
2018 furnace, AC, HWT- 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