Company Description
This property is a fully renovated 2 bedroom 1 bathroom single family home located in a trending neighborhood of Cleveland. The following renovations have been completed: New kitchen, new bathroom, new vinyl plank flooring, sanded & sealed hardwood floors, new screen door at front entrance, repaired windows, 4 new window screens, new epoxy laundry room floor, upgraded plumbing, new hot water tank, new light fixtures throughout, new outlets & switches, repaired concrete blocks, landscaping, interior & exterior paint.
This property also comes with a 1-year Home Warranty.
The tenant is on a 1 year lease which started on 11/5/2021.
Updates:
Update 11/19/2021: The cap rate has been increased from 6.4% to 6.9%. This change kicks in immediately and you will see an increase on your next daily rental payment starting today. Reason for the increase: The seller has decided to reduce the asking price from $86,000 to $80,000 in order to sell the property faster. The seller has already agreed to push the closing date back until after the property is fully funded. This change in price will be reflected via a new contract added to the LLC documents for this property shortly.
Update 6/9/2022: 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 instead of the previous 10% fee, the Annual Cash Flow of this property has increased from $6,211 to $6,409.
