825 W Highland Avenue

Ravenna, OH 44266
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3 bd, 1 ba | 1,133 sqft | Built in 1900

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List Price
$99,500

Initial Investment

$29,290

Purchase Price

$97,000

Down Payment

25%

Rent

$1,225

Total Return

$57,140

Annualized Return

26.8%

Cap Rate

8.8%

Gross Yield

15.2%

Cash Flow

$2,536

Appreciation

8.2%
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Features

Occupancy

Occupied

Lease Start

12/01/2021

Lease End

12/31/2022

Lot Size

9,000

HOA

None

Flood Risk

Not Required

  • AS-IS Sale
  • Pet fee included in monthly rent of $50
  • An opportunity to own a long-time rental property. Fully updated 3 bedrooms, 1 bath home. Tenants signed a one-year lease, with cash deposit in October for a Dec 1, 2021, move-in date and pays all utilities. Owner will receive $1,225 p/month. Investor buys and cash flows (at a premium rental rate) right away. Low taxes and insurance rates to optimize net profit.
  • Fully updated bathroom and large Kitchen with dining area, spacious living room. Property has new vinyl plank flooring, paint, electrical and plumbing updates throughout. Exterior work has also been done, including front and rear porch and roofing, gutter and downspout updates. Has a newer furnace and hot water heater. Attached storage room with its own entrance. Nice, corner lot and big backyard. A quick walk to downtown Ravenna. Lot size of 9,000 square feet. Nearby schools include West Main Elementary School, Brown Middle School and Ravenna High School.

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Annual Financial Highlights

Expected Rent

$13,965

Expenses

-$4,155

Property Taxes

-$2,000

Loan Payments

-$5,273

Net Cash Flow

$2,536

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