$115,000 · CLEVELAND, OH 44108
Works for flippers · Works for landlords

Available

$115,000Asking price

6 bd · 3 ba · 3,041 sq ft · built 1918

CLEVELAND, OH 44108

Contract on file

via InvestorLift Classic

3 views · listed Oct 6

Works for flippers

Works for landlords

The Numbers

Flip

Rental

Sells for (ARV)From the listing: $190,000
Asking price: −$115,000
RepairsMiddle of the seller’s $30,000 – $45,000. Ours: $42,500 – $89,000: −$37,500
Loan, holding, closing20% down, 12% interest, 2 points, 75 days: −$13,258
Profit12.8% of ARV · flippers want 10%+: $24,242
Works

Works for a flipper up to $119,000.

MAIHAUS CAPITAL

George Munoz

No reviews yet

Comps

Sales

Rents

ARV $190,000

From the listing

The seller picked no comps. Investimate’s own value for this home is $152,000.

The sales behind this value are shown to members.

ARV $190,000

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

Buy-and-Hold Opportunity | 22.56% Modeled Cap Rate | Current income before reno completion 18.6k /year

DUPLEX NEXT DOOR IS ALSO FOR SALE, WHICH HAS A CURRENT ROI OF 18.7% , PLEASE INQUIRE IF INTERSESTED

Rental investment opportunity with 3.9k in monthly rent shown in the supplied model, totaling 46.8k in annual scheduled rental income. Offered at 115k, with a 50k repair allowance, the property produces a modeled annual NOI of 22.56%

Investment Highlights

THE INCOME RENT IS BASED ON CURRENT / ONCE STABILIZED TOTAL RENT INCREASE TO 3,900 A MONTH, GIVING YOU A 22.56% YIELD

Purchase price: 115kMonthly rental income: 1.55kModeled rental income: 46.8kAnnual vacancy allowance: 4.68kIncome after vacancy allowance: 37.7kAnnual property taxes: 1.27kEstimated annual insurance: 3.1kModeled cap rate: 22.56%Estimated repairs: 50kEstimated closing costs: 2.297kEstimated total investment: 167.297kModeled yield on total cost: 22.56%

An opportunity for investors seeking rental income with a budgeted renovation plan. Leases with payment history attached along with 5 point inspection summary.

Underwriting Notes: Figures reflect the supplied model and include a 4.6k annual vacancy allowance, approximately 10% of scheduled rent. Maintenance, management, capital reserves, owner-paid utilities, and financing costs are excluded. Buyer to verify whether rents are current or projected, along with expenses and repair scope. Actual returns may vary.

Next Steps

Contact us if you need additional informationSchedule a property walkthrough, if applicableMake your best and final offerSign an assignment agreement or direct agreementSend EMD within 3 hours of signingLock up the dealMake money and repeat :)

For questions or to make a deal happen, call:

George(561) 931-6733

Disclaimer

IMPORTANT: 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.