LOCATION, LOCATION, LOCATION! PROPERTY LOCATED WITHIN WALKING DISTANCE OF CASE WESTERN RESERVE. CURRENTLY USED AS A RENTAL AT 775 PER BEDROOM. MOST OF THE LARGER HOMES IN THE NEIGHBORHOOD DO SERVE AS RENTALS FOR INTERNATIONAL STUDENTS, CASE WESTERN HAS A SEVERE SHORTAGE OF HOUSING SO THESE STUDENTS DO LIKE TO LIVE OFF CAMPUS IN THEIR OWN RENTAL HOMES. MOST STAY ON FOR THE 4 YEARS WHILE AT CASE AND MANY STAY ON FOR POST GRADUATE. STILL A GOOD OPPORTUNITY TO GET RENTED FOR THE 2025 NEW SCHOOL YEAR IN MID AUGUST. PROPERTY ITSELF IS GORGEOUS WITH BEAUITFUL HARDWOOD FLOORS, THICK CROWN MOLDING, WOOD/BRICK FIREPLACE WITH BEAUTIFUL MANTEL. PROPERTY HAS SIDE ENCLOSED PATIO AND A TIER DECKING. CURRENTLY WIITH 55,800 OF POTENTIAL ANNUAL INCOME AND APPROX 8800 IN EXPENSES YOUR NOI IS 50K OR A CAP RATE OF 9.8% - THAT'S HUGE FOR ANY AREA OF GREATER CLEVELAND LET ALONE PROPERTY WITHIN WALKING DISTANCE OF CASE....THAT'S LIQUID GOLD! SELLER WILLING TO HOLD NOTE FOR 5 YEARS AT 6.5% INTEREST AMORTIZED AT 30 YEARS WITH BALLOON PAYMENT ON THE 60TH PAYMENT .......ALL WITH 25% DOWN. NOTE THAT STUDENTS A LITTLE MESSY BUT NOT DIRTY, BUT PROPERTY HAS GOOD BONES. GROUP FROM BRAZIL GOING BACK HOME IN AUGUST - ALL GRADUATED. CALL US TODAY THIS ONE WON'T LAST!

Listing courtesy of Mary L Palumbo of CREO Real Estate Group



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