Income Results 3441 Lincoln Parma Ohio

 

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📊 Income Property Case Study

Wickliffe, Ohio

Purchase Date: September 2021
Purchase Price: $85,000
Rehab Investment: $15,400
Total Initial Investment: $100,400

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🏠 Leasing Performance

• Leased: November 2021

• Days on Market: 9 days

• Original Rent: $1,250/month

• Tenant: Same tenant for 50 months

• Vacancy: 1 New Tenant the lease was lifted to $1600 a Month

• Updates: Minor $2,100 (added in Construction already) for nearly 5 years — letting income roll

New Rent (2026): $1,600/month 📈

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💰 Net Rents Deposited to Owner

(After expenses)

• 2021: $1,500

• 2022: $10,395

• 2023: $ 9,326

• 2024: $ 9,636

• 2025: $ 6,000 (got new tenant)

• 2026 (YTD): $1,525

👉 Total Net Deposits in owners Account: $38,382

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📈 Equity Position

• Approx Value After Adding Bath + Updates: $220,000

• Additional Updates Budgeted: $35,000

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🧮 Profit Breakdown

• Equity: $119,600

• Plus Net Rents: + $38,382

• Closing Cost - $8,000

• Minus Purchase + Rehab: – $100,400

• Minus Updates: – $25,000

✅ Approx Total Profit: $124,982

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🔥 Return Summary

• Approx ROI: 32%

• Low vacancy

• Stable long-term tenant

• Minimal maintenance

• Strong rent growth

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