16605 Chateau Ave

Cleveland, OH 44128
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3 bd, 2 ba | 1,777 sqft | Built in 1949

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List Price
$104,500

Initial Investment

$28,476

Purchase Price

$104,500

Down Payment

25%

Rent

$1,280

Total Return

$54,913

Annualized Return

26.8%

Cap Rate

8.7%

Gross Yield

14.7%

Cash Flow

$2,636

Appreciation

6.9%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

4,800

HOA

None

Flood Risk

Not Required

Calling all investors! Get ready to be impressed by this well maintained beautiful brick Lee-Miles three bedroom bungalow. The home is located on a quiet, no outlet street just north of I-480. The longer term tenants are month to month and would like to stay. There's room for rental increase based upon the $1200 average market value estimate. Newer roof, windows, furnace and clean responsible tenants, assure a low maintenance home. The neighboring parcel of land is available for purchase via the Cleveland Revitalization Program. The seller is liquidating in order to have the ability to purchase a home with his new bride, so all generous:) offers welcome and appreciated. Get your buyer's agent moving on this one fast, it will not last!
This is an occupied home, drive by viewings are fine but please do not disturb the tenants and respect privacy. The property manager has arranged a showing/tour window of Sunday March 16th 2-6p, buyers must schedule either through their agent to set an appointment (agents must accompany and present business card) OR through the listing agent if self represented.
Happy Hunting!!!

See more in Analysis
Alex Johnson
Real Estate Quest, LLC
OH Agent License #2007002717

Annual Financial Highlights

Expected Rent

$14,592

Expenses

-$3,575

Property Taxes

-$2,700

Loan Payments

-$5,681

Net Cash Flow

$2,636

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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Listing Courtesy of:Danielle Acosta
Agent License 2018004706
Key Realty
Certified Agent Brokerage:Alex Johnson
Real Estate Quest, LLC
OH Brokerage License 2004018595
SourceMLS Now
MLS #5106765
Last Updated: 03/15/2025 19:03
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