Property Description

ATTENTION INVESTORS: $1,403/MO RENTED CASH COW! HUGE RETURNS IN THE UPSCALE WATERLOO ARTS DISTRICT! This solid brick home sits in Cleveland?s rapidly revitalizing Waterloo Arts corridor, surrounded by rising property values, growing owner-occupancy, and walkable access to galleries, restaurants, nightlife, and the iconic Waterloo Theatre. Already rented through CMHA Section 8 at $1,403/month?$16,836 in annual gross rental income! The property may generate even more income through EDEN, which provided a written rent offer of $1,650/month. MASSIVE DSCR POTENTIAL?DO THE MATH! COMPLETELY REMODELED, TURNKEY, AND LEAD-PAINT TESTED AND PASSED! Major capital expenses are already covered, including a brand-new entry roof (September 2026), brand-new furnace (August 2026, never used), new stainless-steel refrigerator and stove, new vinyl windows, new carpet, refinished basement, updated lighting, new ceiling fans, complete interior repaint, exterior painting, and a new Chamberlain Wi-Fi garage-door opener. Additional features include a comfortable front porch tenants love, covered rear porch, huge fenced backyard, long private driveway, garage+opener, new windows with excellent natural light, and durable, low-maintenance brick construction. A city-owned vacant lot next door provides extra privacy, better natural light, and the feel of a larger side yard. Lead testing has passed, the report is available, and final certification from the City of Cleveland is pending making this a compliance-ready, inspection-friendly asset for housing-authority programs. Close to higher-rent Euclid while remaining in lower-tax Cleveland--the best of both worlds! Part of a larger Section 8 portfolio. Ask about additional stabilized voucher properties.

Property Features

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