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Genie Prettyman

gp@prettyman-associates.com +1(216) 264-7099

$510,000

Est. payment - /mo

10 Beds

4 Baths

4,740 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,740 sqft

Price per Sqft $107

Subdivision College Park 02/T A Mccaslin

MLS Listing ID 5222606

Bedrooms 10

Full Baths 4

Construction Status Updated/Remodeled

HOA Y/N No

Abv Grd Liv Area 4,740

Total Fin. Sqft 4740

Year Built 1910

Annual Tax Amount $4,039

Tax Year 2025

Lot Size 4,281 Sqft

Acres 0.0983

Property Sub-Type Duplex

Property Description

This exceptional investment opportunity offers the best of both worlds: strong immediate cash flow with significant upside potential for even greater returns. Currently generating nearly $65,000 in gross annual income and over $55,000 in net income, the property delivers an impressive 10.9% cap rate at the asking price. The right side has truly luxurious finishes and comes fully furnished ready to command premium rents for the next lease cycle. With rents adjusted to market value—projected at $4,000 per month on one side and $3,200 on the other—net annual income would exceed $77,000, pushing the cap rate to an outstanding projected 14.23%, while still factoring in property management costs and anticipating 3% of revenue will go to repairs. Both units underwent extensive renovations in 2017, including major plumbing and electrical updates, with the right-side unit receiving substantial additional upgrades in 2024. These improvements include a fully renovated kitchen, new bathrooms, updated flooring, fresh walls, modern lighting, and new fixtures. Major exterior capital improvements have also been completed, including a new roof in 2024, a full front porch rebuild in 2026, and significant landscaping enhancements in 2026. Ideally located within walking distance of Case Western Reserve and nearby University Hospitals, Cleveland Clinic and the VA, this property benefits from a consistently strong rental market and historically low vacancy. Its location is especially attractive to students and medical professionals, with many tenants often helping to secure their own replacements upon graduation—creating a low-maintenance turnover process for ownership. To add even more value, the property will transfer with lead-safe certification for both units, eliminating immediate compliance costs for the new owner while providing strong day-one cash flow and long-term appreciation potential.

Location

State OH

County Cuyahoga

Rooms

Basement Full, Unfinished

Interior

Heating Forced Air

Cooling Ceiling Fan(s), Window Unit(s)

Fireplace No

Appliance Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer

Laundry In Basement

Exterior

Parking Features On Street

Fence Fenced

Water Access Desc Public

Roof Type Fiberglass

Garage false

Private Pool No

Building

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

Construction Status Updated/Remodeled

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 120-10-079

Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, VA Loan

Listing Terms Cash, Conventional, 1031 Exchange, FHA, VA Loan

Special Listing Condition Standard

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VOW - Northern Ohio Regional MLS (YES-MLS) /MLS Now

Listed by David Jackson • Howard Hanna • davidjackson@howardhanna.com, 216-548-9207

Nearby Locations

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Genie Prettyman

+1(216) 264-7099

Broker | License ID: 2020006172

Broker License ID: 2020006172

1471 E 118th ST Cleveland, OH 44106

Genie Prettyman

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby Locations

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