3235 Grove Ave

Lorain, OH 44055
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6 bd, 2 ba | 2,160 sqft | Built in 1900

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List Price
$84,900

Initial Investment

$24,991

Purchase Price

$78,500

Down Payment

25%

Rent

$1,200

Total Return

$41,470

Annualized Return

25.7%

Cap Rate

10.8%

Gross Yield

18.3%

Cash Flow

$3,376

Appreciation

6.1%
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Features

Occupancy

Occupied

Lease Start

-

Lease End

-

Property Type

Duplex

Lot Size

5,663

HOA

None

Flood Risk

Not Required

Wonderful opportunity to own this well maintained side by side two family that offers three bedrooms in each unit plus a living and dining rooms. Perfect investment or live in one unit and have the other unit payoff your mortgage. Separate utilities. Recent updates include unit one new kitchen ceiling with recessed lighting, tiled bathroom shower/tub, new tub, new bathroom floor, new fixtures in bathroom. Unit 2 tiled bathroom shower/tub, new hot water tank, furnace 5 yrs old. Seller is offering a home warranty. Call for your private tour. 3235: 650, 3237: 550

MARKETS

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NEIGHBORHOOD

SCHOOLS

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Alex Johnson
Real Estate Quest, LLC
OH Agent License #2007002717

Annual Financial Highlights

Expected Rent

$13,680

Expenses

-$5,112

Property Taxes

-$924

Loan Payments

-$4,268

Net Cash Flow

$3,376

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:MarieRose Nader
Howard Hanna
Certified Agent Brokerage:Alex Johnson
Real Estate Quest, LLC
OH Brokerage License 2004018595
SourceNortheast Ohio Real Estate Exchange (NEOHREX/NORMLS/CRIS/Tri-State)
MLS #4266933
Last Updated: 07/30/2021 01:07
Disclaimer: The accuracy of this information is deemed reliable but not guaranteed or warrantied. All information should be independently verified before making purchase decisions. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The content relating to real estate for sale on this website appears courtesy of the Multiple Listing Service (MLS) listed as the “Source” on this page. Individual listings appear with the permission of the real estate brokerage identified under the “Listing Agent” on this page.