5410 Renwood Parma Ohio Income Results

 

Update Video last one for the rehab so you can see the layout

This property was leased SOOOOO Fast I did not get final pics or video. The tenants that we leased to have been in this property since 2021. That means they have been in this property for 34 months and paid all rent on time and little to no maintenance. 

Let's look at the approx. numbers on this property.....

Lease $1200 Tax $187 Insurance $60 P/M $80 Net $873 x 12 months= $10,476

The lease was lifted in 2022 to $1300 a month for 13 months' let's look at these Approx. numbers 

Lease $1300 Tax $228 insurance $60 P/M $104 Net $908 x 13= $11,804

The lease was lifted again to $1365 a month in Feb 2024 let's look at those approx. numbers

Lease $1365 Tax $240 Insurance $60 P/M $125 Net $940 x 9 months= $8460  

The grand Total is $30,740

We paid $90,000 for this property and added $22,925 (New Garage) for a total of $112,925

This property is worth Approx. $185,000 - $112,925= $72,075 

We had to also add a new heater in 2023 for $2500 and $2000 on Plumbing. With the home warranty we have this could be avoided. 

Let's look at the Approx. total profit $30,740 + $72,075 - $4500 = $98,315

Not bad for this awesome client! 

Better Real Estate Exceptional results