What's Available Wednesday? A Cleveland Triplex!This week, not only are we returning with yet another Cleveland turnkey property… it’s a triplex! It’s obvious why everyone loves Cleveland… the city was named “America’s Hottest City” in 2016 by Forbes, at least partially because of being named Top 15 U.S. Cities for College Grads in 2018 and one of the Top 20 Places in the WORLD to Visit in 2018 by National Geographic.

Not to mention home prices are on the rise but still below the pre-recession peak, so you can get in early and lock in premium price-to-rent ratios. And this one is triple the cash flow with $923 (conservatively estimated) coming to your pocket every month! Check it out, and if you’re interested in buying this or a property like it, just contact Melissa at melissa@hipsterinvestments.com. But hurry! These properties are going fast…

Location: Cleveland, OH

Built In: 1926 (fully renovated)

Purchase price: $90,000 (not a foreclosure, normal sale and with tenants in place as condition of closing!)

Property info: 5 bedrooms, 3 bathrooms, 2,059 square feet

Income

Monthly rent collected: $1,550

Expenses

Monthly expenses

Property taxes: $171

Insurance: $75

Property management fees: $195

Monthly expenses (conservatively estimated)

Vacancy (7%): $109

Repairs (5%): $78

Total Monthly Expenses- $627

Net Income = Income – Expenses = $923

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 12.31%

Cash-on-cash return =

Depends on your leveraging.

Special Terms:

  • 1-Year Seller Warranty

If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com. Take the plunge: you won’t regret it!

Want to see more deals like this?
We’ll send them to you!

Want to see more deals like this? We'll send them to you!

Comments
  • chaim rosenstadt
    Reply

    the monthly income and the net income are the same??? typo?

    • Ali
      Reply

      Sorry about that! Yep, it was a typo. All fixed now.

  • Edwin Escaro
    Reply

    Hi! I am new to real estate and was educating myself on bigger pockets. I really enjoyed articles regarding Turnkey by Ali, which lead me to look her up and eventually here to her business. I just wanted to thank her for providing such valuable information both on Bigger Pockets and here. I look forward to inquiring through here in the future. =]

    • Ali
      Reply

      Hey Edwin! Thanks for the compliments and I’m glad you reached out! You can email me directly anytime at ali@hipsterinvestments.com if I can ever be of any help. Talk to you soon!

      -Ali

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