Property Description:
This is a direct to buyer wholesale assignment for a tenant-occupied in North Olmstead OH, which is in the Greater Cleveland area. ARV $250,000 Earnest deposit required $4,000. This home needs no rehab but just a couple of updates. Great property as a buy and hold in Ohio! Tenant is paying $1140 on an annual lease which will go until 6/1/24. Avg rents $1800 for the area. If you go in and upgrade it nicely you'd probably be able to get more.
Most DSCR loans will not approve based on the rent. I'm looking for that landlord who has their own capital and wants to go in and take over this property. The homeowner is a tired landlord--they didn't want to use their own money to replace the HVAC and carpet (needs replacing in the next 1-2 years), and they're tired of managing a property.
COMPS
4688 Silverdale Rdzillow.com/homedetails/4688-Silverdale-Rd-North-Olmsted-OH-44070/33468086_zpid/
4366 W Ranchview Ave
zillow.com/homedetails/4366-W-Ranchview-Ave-North-Olmsted-OH-44070/33468522_zpid/
Contact me at 757-389-2821 or info@thepropertyrose.com. Thanks!