18505 Ponciana Cleveland Ohio Income Results

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We purchased this property for $90,000 in February 2021. Rehab was $11,100 for a total of $101,100 invested.

Let's' Look at the Approx numbers on this property. Rent  $1100 Tax $103 Insurance $60 PM $88 Net $849 x 12 Months = $10,188 We added a little money to update $2000 The next tenant moved in and has been there ever since May 2021. Let's look at the approx income Rent  $1200 Tax $142 Insurance $60 PM $92 Net $906 x 15 Months = $13,590 The rent was raised to $1250 a month in Oct 2022 Let's look at those approx numbers  Rent  $1250 Tax $199 Insurance $60 PM $100 Net $891 x 12 Months = $10,692 The lease was raised to $1300 a month in 2023 Let's look at the approx numbers  Rent  $1300 Tax $200 Insurance $60 PM $125 Net $915 x 10 Months = $9,150 That is a total of $43,620 in net proceeds. During the last almost 4 years a approx total in repairs $4500 (Part of this is a new heater)  making the Approx Net $39,120 Let's look at the approx value from the MLS is $199,000.  That gives this client approx $98,000 in equity + $39,120 in approx rental proceeds  The grand total is $137,120 Approx Blended Return  Call me (Brett) 216-703-5740 Key Realty and Property Management

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