1848 Stanwood Road, East Cleveland, OH 44112
- $119,900
- 4
- BD
- 1
- BA
- 1,894
- SqFt
- List Price
- $119,900
- Status
- ACTIVE
- Style
- Colonial
- Stories
- 3
- MLS#
- 5210226
- Year Built
- 1899
- Price Change
- ▼ $5,000 1782977474
- Bedrooms
- 4
- Bathrooms
- 1
- Living Area
- 1,894
- Region
- Cleveland
- Township
- Cleveland
- Subdivision / Building
- Grasmere Allotment
Property Description
Presenting a cash-flowing investment opportunity—a 1,894 sq. ft. Colonial-era (1899) home with a long-term, month-to-month Section 8 tenant already in place. This 4-bedroom, 1.5-bath property generates 1,450/mo. in gross rent. CMHA(Section8) currently covers 1,190/mo. of that amount, with the tenant responsible for the remaining amount. While not fully subsidized, the majority of rent is guaranteed by the housing authority, reducing collection risk compared to traditional market-rate tenants. The asset features a durable slate roof, central A/C, replacement vinyl windows throughout most of the home, and a full unfinished basement for storage or future value-add. The property has undergone significant electrical, plumbing, bathroom, kitchen, HVAC, and interior/exterior repairs. The tenant wishes to remain, and is on a month-to-month lease, giving you flexibility. With a detached 2-car garage and solid bones.
Additional Information
- Taxes
- $1,130
- Acres
- 0.13
- Sewer
- Public Sewer
- Roof
- Slate
- Water
- Public
- Fireplaces
- 1
- Garage Spaces
- 2
- Heating
- Forced Air
- Cooling
- None
- School District
- East Cleveland CSD - 1812
Mortgage Calculator
Listing Courtesy of: Christopher Walling, realtorwalling@gmail.com With Red 1 Realty, LLC
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