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Investor-friendly buy & hold opportunity at 3568 E 118th St, Cleveland, OH 44105. This 4-bedroom, 2-bath, 2,200 SQFT duplex is tenant-occupied (month-to-month) and offers light rehab potential with an estimated $1218K needed post-vacancy. Built in 1920, the property features separate furnaces (no central AC), 2 newer water heaters, and no major plumbing or electrical issues reported. With an ARV of $135,000, providing ~$35000 in built-in equity. Current rent is $650/month downstairs, with market rent projected at $1,150$1,250/month, offering an estimated cash flow of $300$400/month/ unit and a 1520% cash-on-cash return. Light cosmetic updates and turnover work will position this property for long-term rental success in the 44105 market.
Disclaimer: The accuracy of all information regardless of source, including but not limited to square footage and lot size, is deemed reliable but not guaranteed nor warranted and should be personally verified through personal inspection by and/or with the appropriate professionals.
Listed By
Agency Name: Berkshire Hathaway HomeServices Stouffer Realty
Agency Contact: dreid@stoufferrealty.com, 216-387-0757