The Numbers:

Purchase: $485,000

GOI: $61,200

NOI: $43,200

Cap Rate: 9%      

Comps:

657 S Belvoir Blvd Cleveland, OH 44121

Details:

8 suites. Six 2 beds 1 bath and Two 1 beds 1 bath. Tenants have been there forever month to month. 650 for the 2 beds. 1 bed 600 month. Market Rent from what I saw is ~$800 for 2 bed and ~700 for 1 bed. 

EMD:               $10,000