This 3 bedroom, 2 full bath property with a 1-car garage is a great turnkey investment opportunity in Parma, Ohio. The home has approximately 1,255 sq. ft. on the main level plus an additional 660 sq. ft. basement, giving the tenant plenty of usable space.
We do a lot of properties in Parma, approximately 25 to 30 properties, and this continues to be an excellent area for both rental demand and appreciation. Parma has been a strong market for us, with appreciation around 6% per year.
This property will be updated to the max, with all appropriate interior updates completed before purchase. When finished, it will feel like a brand-new house. The property will also come with a one-year warranty for added peace of mind.
Investment Numbers:
Purchase Price: $185,000
Retail Value: Approx. $215,000
Built-In Equity: Approx. $30,000
Expected Rent: $1,750/month
Estimated Net Income After Taxes, Insurance & Property Management: Approx. $1,269/month
Estimated Annual Net Income: Approx. $15,228/year
Property Management Fee: $125 flat monthly fee
We will also lease and manage the property for you, making this a true turnkey investment from day one. Our property management system has a 99.5% success rate, and we handle the leasing, tenant placement, monthly management, and ongoing property needs.
This is a strong opportunity for an investor looking for monthly income, built-in equity, appreciation, and a fully managed rental property in the Cleveland Metro area.
Brett Young – Key Realty LTD
Call/Text: 216-703-5740
Cleveland Income Real Estate
https://www.clevelandincomerealestate.com/
Stats: https://realincomeproperties.blogspot.com/
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