Listed By
Agency Name: Berkshire Hathaway HomeServices Stouffer Realty
Agency Contact: dreid@stoufferrealty.com, 216-387-0757
Shown By
Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575
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Property Description
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.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Full, Unfinished
Cooling: Ceiling Fan(s)
Days on Market: 4
Garage: 2
Heating: Forced Air, Gas
Lot Size: 0.11 Acres
Roof Type: Slate
Stories: 3.0
Taxes: $1,636 / year
Year Built: 1920
Amenities
Built-in Features
Ceiling Fan(s)
Eat-in Kitchen
Balcony
Feature Descriptions
Accessibility: None
Appliances: Range, Refrigerator
Community Features: Curbs, Laundry Facilities, Medical Service, Playground, Park, Shopping, Street Lights, Sidewalks
Exterior: Frame
Fencing: None
Laundry: Washer Hookup, In Basement
Lot: City Lot, Flat, Level
Parcel#: 137-01-061
Parking: Detached, Garage Faces Front, Garage, Off Street
Patio/Porch: Balcony
Sewer: Public Sewer
Water: Public
Local Schools
School District: Cleveland Municipal - 1809
Estimate Your Payment
Estimated Payment
$ 648.23 per month $483.02 Principal & Interest $136.33 Property Tax $28.88 Homeowner's InsuranceChange Payment Information
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3568 E 118th Street | MLS# 5187749
This multi-family property located at 3568 E 118th Street, Cleveland, OH 44105 is currently listed for sale with an asking price of $99,000. E 118th Street is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on www.cutlerhomes.com today.