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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List Price
$130,000

Initial Investment

$38,063

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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