Single Family Rental in Cleveland, OH

This single-family rental with 4 beds and 2 baths is located close to Cleveland Botanical Garden (0.8 mi), Cleveland Museum of Natural History (0.8 mi), and Forest Hills Shopping Center (0.9 mi).

The home sits on 0.08 acres with a total interior space of 1,411 square feet. The property was originally built in 1915 and was renovated in 2021, and includes a roof-mounted solar system, granite countertops, stainless steel appliances, and an updated kitchen.

Local schools include Franklin D. Roosevelt Academy (0.9 mi) with a 2/10 rating, Daniel E. Morgan School (1.1 mi) with a 3/10 rating, and Willson Elementary School (1.2 mi) with a 2/10 rating. Nearby colleges include the Cleveland Institute of Music (0.7 mi), Case Western Reserve University (1.2 mi), and Cleveland State University (3.8 mi).

The largest employers in the area include University Hospitals (1.1 mi), Cleveland Clinic (1.5 mi), and MetroHealth (2.9 mi).

The business plan would be classified as a long-term hold strategy which in this case means maximizing profits by keeping occupancy stable and increasing rents over time.

5 Highlights about this deal:

1. The property was acquired for $85,500 vs. a Zillow Zestimate of $93,500 (Nov 2022).

2. The projected monthly rent is $1,350 which is above the rental rates in the neighborhood.

3. Comparable properties in the area have been sold for $115,000 in October 2022.

4. The average price of homes in Cleveland has increased by over 20% this past year and the average rents have increased by over 9%.

5. The neighborhood has an overall 'B' Rating on Niche with an 'A' for nightlife and commuting.