$118,000 · CLEVELAND, OH 44108
Works for landlords · Tight for flippers

Available

$118,000Asking price

4 bd · 2 ba · 2,636 sq ft · built 1917

CLEVELAND, OH 44108

Contract on file

via InvestorLift Classic

2 views · listed Oct 6

Works for landlords

Tight for flippers

The Numbers

Flip

Rental

Sells for (ARV)From the listing: $175,000
Asking price: −$118,000
RepairsMiddle of the seller’s $35,000 – $51,000. Ours: $37,000 – $77,000: −$43,000
Loan, holding, closing20% down, 12% interest, 2 points, 77 days: −$13,068
Profit0.5% of ARV · flippers want 10%+: $932
Tight

Works for a flipper at $102,000 or less.

MAIHAUS CAPITAL

George Munoz

No reviews yet

Comps

Sales

Rents

ARV $175,000

From the listing

The seller picked no comps. Investimate’s own value for this home is $163,000.

The sales behind this value are shown to members.

ARV $175,000

From the listing

The seller picked no comps.

The sales behind this value are shown to members.

MAIHAUS CAPITAL

George Munoz

No reviews yet

Seller Description

16.7% cap rate at a 118k purchase price (As it is underperforming) current cap rate

Seller is offering 6% seller concessions and is also a lender
Will do a very competitive DSCR loan with 15% down (720 score) or 20% down (700 score)
Min loan amount: 100k

TRIPLEX NEXT DOOR ALSO FOR SALE, PLEASE INQUIRE

Buy-and-hold opportunity with a reported current rent roll of 2.2k per month (One tenant has been there since 2017 with no increase), with one tenant paying $1,500/mo. Offered at 118k, this property delivers an annual NOI of approximately 20k, including a 10% vacancy allowance. With light reno of 40k, modeled annual yield on total cost is 17.92% ($1,500/mo each unit)

Investment Highlights

Purchase price: 118kCurrent monthly rent roll: 2.2kAnnual current rental income: 26.4kProjected annual rental income: 36kAnnual current vacancy allowance: 2.64kCurrent income after vacancy allowance: 23.76kAnnual property taxes: 1.393kEstimated annual insurance: 2.3kModeled current annual NOI: 20.067kModeled current cap rate: 17.0%Modeled projected annual NOI: 28.707kEstimated total acquisition cost: 120.173kModeled projected yield on total cost, including 40k renovation: 17.92%

An opportunity for investors seeking existing rental income and a strong purchase-price-to-income ratio. Leases and payment history are attached. 5-point inspection summary attached.

Underwriting Notes: Figures reflect the supplied model. Estimated acquisition costs assume the original 2.173k in additional acquisition expenses remains unchanged. Projected NOI includes a 10% vacancy allowance on projected rents. Maintenance, management, capital reserves, owner-paid utilities, and initial repairs are not included in NOI. The projected yield includes the 40k renovation budget. Actual NOI and returns will vary with verified expenses, collections, property condition, and financing. Buyer to verify all figures during due diligence.

Next Steps

Contact us if you need additional information. Schedule a property walkthrough, if applicable. Make your best and final offer. Sign an assignment agreement or direct agreement. Send EMD within 3 hours of signing. Lock up the deal. Make money and repeat :)

For questions or to make a deal happen, call:

George (561) 931-6733

Disclaimer

IMPORTANT: Both properties are being sold together as one package. This listing represents an assignment of a purchase contract or direct contract as a double close, if applicable—not a direct property sale. Buyer is responsible for conducting their own due diligence and verifying property configuration, unit count, zoning, rents, condition, repair costs, and all financial information. Information provided is believed to be accurate but is not guaranteed.

Time-sensitive opportunity—this package is being offered to multiple investors.