5501 Delora Ave

Cleveland, OH 44144
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3 bd, 2 ba | 1,498 sqft | Built in 1929

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List Price
$164,900

Initial Investment

$44,935

Purchase Price

$164,900

Down Payment

25%

Rent

$1,420

Total Return

$59,685

Annualized Return

18.4%

Cap Rate

5.7%

Gross Yield

10.3%

Cash Flow

-$174

Appreciation

6.5%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

4,400

HOA

None

Flood Risk

Not Required

There are houses for sale, and then there are homes for sale....and this is definitely the latter. Not just a structure and a plot of land, 5501 Delora in Cleveland is a cherished property full of love and memories meticulously cared for by sellers who lived and grew up within these walls. Every inch has been cleaned and prepared for the next owners, and the features of the home will amaze you. From the spacious kitchen with plenty of counter space and abundant oak cabinetry, to the dining room with gorgeous woodwork and built-in cabinets, to the family room with a decorative re-faced fireplace featuring brick molds created by the owner himself, you'll quickly realize this home rises above the rest. Be sure to pop in the three-season room off the front door! The perfect place to start, or wind down a spring day. Journey upstairs and find a full bath and 3 bedrooms. Bedroom one features stately wood-paneled walls with access to the walk-up attic for plenty of storage. This room could make a great office! Bedroom two features a cool custom-built sliding closet door, and the final bedroom has an alcove perfect for a dresser, or to be used itself as a walk-in closet. The basement is partially finished and features a transferrable waterproofing warranty from Ohio State Waterproofing. The furnace, AC, and hot water tank were all replaced in 2023, and a new washer was added in 2024! There is also a commode and vanity for convenience on the unfinished half! Other features to the home include glass block windows, vinyl replacement windows throughout, a newer Aprilaire, and an ADT system! Head outside to a fully-fenced yard including a gate across the driveway. The spacious two-car garage is clean and in great shape, with a roof that was replaced just four years ago. The roof on the main house is just 15 years old! Minutes from shopping, highways, hospitals and the airport, this ideal home in Cleveland's up-and-coming neighborhood of Old Brooklyn will not last long!

See more in Analysis
Alex Johnson
Real Estate Quest, LLC
OH Agent License #2007002717

Annual Financial Highlights

Expected Rent

$16,188

Expenses

-$3,097

Property Taxes

-$4,300

Loan Payments

-$8,965

Net Cash Flow

-$174

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

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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Listing Courtesy of:Nick Virzi
Agent License 2013004550
Keller Williams Elevate
Certified Agent Brokerage:Alex Johnson
Real Estate Quest, LLC
OH Brokerage License 2004018595
SourceMLS Now
MLS #5105235
Last Updated: 03/15/2025 00:03
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