Company Description
This property is an occupied single family home located in an A.I. recommended neighborhood of Cleveland. The neighborhood has a mix of owner occupants and rentals, and is close to the highway, schools, and downtown.
This property has been well maintained since the renovation that was done in 2013. It has been tenanted for an extended period and is inspected and maintained often. It has an updated electrical panel and modern wiring. The hot water tank and furnace are both 5 years old.
The tenant is on a 1 year lease starting on 8/31/2022 and the tenant is paying $850/month. The lease auto renews for another 1 year at a time unless tenant or landlord gives 90 day notice prior to end date not to renew.
The roof is in good condition, but a small section needs patching which will be taken care of immediately after closing. The seller is providing the LLC with a credit of $2,700 to fix the issues mentioned in the inspection report. To view a breakdown of the different issues and costs associated, see “Inspection report repairs to be completed” in the property document link below.
This property comes with a 1 year home warranty.
Updates:
Update 5/24/2022: This property has officially migrated over to the new Property Manager, B2B Realty, based on the results of the prior governance vote. Because B2B Realty charges an 8% Property Management fee, the Annual Cash Flow of this property has increased from $7,411 to $7,494.
