Income Returns: 30027 Robert Street, Wickliffe, Ohio

 

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We purchased this property in February 2025 for $130,000. After completing approximately $35,000 in renovations, the owner’s total investment in the property was $165,000.

The renovations were completed quickly, and the property was leased beginning April 1, 2025, for $1,650 per month. Since then, the rent has already been increased to $1,700 per month.

Let’s review the owner’s net rental income after property taxes, insurance, and property management expenses:

• 2025 net rental income: $8,383
• 2026 net rental income: $8,060
• Total net rental income: $16,443

The property’s approximate current market value is $195,000.

Gross Return Calculation

Current property value: $195,000
Minus total investment: $165,000
Plus net rental income: $16,443

Approximate gross profit: $46,443

That represents an approximate 28.1% gross return on the original $165,000 investment in only about a year and a half.

Estimated Net Return if the Property Were Sold

Before selling, we estimate the property may require approximately $15,000 to $20,000 in additional updates. Estimated selling and closing costs would be approximately $8,000.

Using these projected expenses:

$46,443 gross profit
Minus $15,000 to $20,000 in updates
Minus approximately $8,000 in closing costs

Estimated net profit: $18,443 to $23,443

That would represent an estimated net return of approximately 11.2% to 14.2%, in addition to the benefit of having the mortgage principal reduced if the property was financed.

This property has only been in our system for approximately 18 months. Imagine what another three years of rental income, rent increases, loan paydown, and appreciation could do.

In appreciating Northeast Ohio markets, properties like this can become excellent long-term wealth builders. The goal is not simply to collect rent—it is to combine rental income, equity growth, appreciation, and professional property management to build lasting wealth for our clients.

Brett Young – Key Realty LTD
Cleveland Income Real Estate
Phone: 216-703-5740
Website: clevelandincomerealestate.com
YouTube: @BrettYoungCashflowhomes
Market Statistics: realincomeproperties.blogspot.com

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