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Tenant Occupied Investment Properties
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The benefits to investing in real estate in any market, but especially this one, would be the tangibility of the asset and excellent return on your initial investment. In addition, there are potential tax benefits.
Here is an example of the potential benefits to owning investment real estate:
You purchase a property from Cleveland Restoration Group for $39,900. Assuming that you have good credit, you are able to obtain a loan for $31,920 (initial cost less down payment of 20% or $7,980) from a lending institution with a favorable interest rate not to mention a capitalization rate (CAP Rate) of 9%-14%.
The average rent for the single family dwelling in this area is $650 and you are purchasing the house “tenant occupied”. Your expenses for this property will include property taxes, insurance, maintenance and property management fees. Utilities and landscape/yard work are paid for by the tenant.
When you add in income and subtract expenses for the year, based on averages for taxes, insurance and maintenance, you will net a return of 32.88% in the first year of ownership.
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(24 Photos)
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7915 Bellvue Ave., Cleveland, OH 44103
(New Construction)
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4
Rented at $600
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55th & St. Clair
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$43,900
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1,892 sq. ft.
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2 1/2 Story
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$780.18
(2007)
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View
(22 Photos)
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Sale Pending
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3598 E 108th, Cleveland, OH 44105
(New Construction)
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4
Rented at $650
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116th & Kinsman
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SALE PENDING
$44,900
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1,234 sq. ft.
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2 1/2 Story
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$894.68
(2007)
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View
(32 Photos)
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Sold
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5997 Engel Ave, Cleveland, OH 44127
(New Construction)
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4
Rented at $650
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55th & Broadway
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SOLD
$46,900
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1,812 sq. ft.
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2 Story
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$849.56
(2007)
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View
(20 Photos)
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3025 E 73rd St., Cleveland, OH 44104
(New Construction)
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5
Rented at $600
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93rd & Kinsman
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$48,900
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1,554 sq. ft.
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2 Story
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$1,001.30
(2007)
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View
(18 Photos)
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Sale Pending
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7805 Myron Cleveland OH 44103
(New Construction)
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3
Rented at $690
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79th & Superior Ave.
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SALE PENDING
$49,900
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1,290 sq. ft."Living Room, Dining Room and Eat in Kitchen"
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2 1/2 Story
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$816.06
(2007)
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View
(8 Photos)
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6209 BONNA AVE
(New Construction)
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4
Rented at $650
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55th & St. Clair
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$49,900
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1,248 sq. ft.
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Single Story
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$637.00
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View
(10 Photos)
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4011 E 143rd St. Cleveland OH 44125
(New Construction)
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3
Rented at $690
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East 143rd & Harvard
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$49,900
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1,272 sq. ft.
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2 1/2 Story
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$1,083.02
(2008)
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View
(24 Photos)
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3615 E 59th St., Cleveland, OH 44105
(New Construction)
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3
Rented at $650
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55th & Broadway
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$49,900
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1,500 sq. ft.
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2 Story
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$1,127.66
(2007)
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View
(15 Photos)
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14808 Pepper
(New Construction)
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4
Rented at $650
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152 & St Clair
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$49,900
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1,400 sq. ft.
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1 1/2 Story
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$1,055.00
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View
(9 Photos)
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13505 Casper Ave
(New Construction)
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5
Rented at $750
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Collinwood
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$55,750
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1,760 sq. ft.
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2 1/2 Story
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$1,067.70
(2009)
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View
(26 Photos)
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7818 Vineyard Ave, Cleveland, OH 44105
(New Construction)
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5
2 Family Rented at $1100
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Miles & Harvard
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$79,900
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2,182 sq. ft.
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2 1/2 Story
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$1,204.94
(2007)
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Contact Us
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We'd love to hear from you!
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When you are looking at the options for investing your money, consider purchasing investment property. Maybe you are tired of riding out the waves of massive fluctuations in the market or the low return being offered on fixed income products such as t-bills and money markets. Whatever you reason, contact us today and let us help you see why now is the time and Cleveland is the place to make your investment in real estate.
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