358 E Thornton St

Akron, OH 44311
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3 bd, 2 ba | 1,478 sqft | Built in 1918

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Sold

Exclusive

List Price
$130,000

Initial Investment

$38,063
Pre-approval letter or proof of funds required.

Purchase Price

$125,000

Down Payment

25%

Rent

$1,500

Total Return

$67,946

Annualized Return

25.6%

Cap Rate

9.1%

Gross Yield

14.4%

Cash Flow

$3,670

Appreciation

7.3%
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Features

Occupancy

Occupied

Lease Start

-

Lease End

-

Lot Size

3,570

HOA

None

Flood Risk

Not Required

Awesome opportunity to own a University of Akron Rental! Rented for $1,500 a month or $18,000 for the year. Owner pays utilities with utility cap. Utility cap is $300. Being sold as a package of 2 properties: 358 E Thornton & 362 E Thornton. Both side by side. Package asking price $260,000. Easy to manage. Easy to rent. Plus fantastic rental history. Reach out for more information or to schedule a showing. Rented till end of July 2023. Improvements include: (2022) Rewired entire house plus new panel, painted basement.

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Annual Financial Highlights

Expected Rent

$17,100

Expenses

-$4,967

Property Taxes

-$1,668

Loan Payments

-$6,796

Net Cash Flow

$3,670

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Property Characteristics

Inspection Contingency

This home will be inspected after the offer is accepted and prior to closing, during which time you can negotiate price or repairs based on the inspector's findings or cancel the contract.
  • This property will be professionally inspected before closing.
  • You'll have the opportunity to negotiate a lower price or repairs if any issues are identified during the inspection process.
  • Your earnest money deposit will be refunded if you cancel the transaction before the inspection contingency termination date.

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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