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Updated over 9 years ago on . Most recent reply
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Cleveland ohio - Need help about a deal
I am about to sign my first deal .. It is via an real-estate investing company.
Its a duplex in Cleveland Ohio, in East 68th st.
I am paying $34000 for a renovated duplex, and the rent expected is $1075 for both units.
I was told not to expect any raise in house value, just rely on the rent.
My question: if you know the are:
How much is a renovated duplex worth in that neighborhood?
(I am confused by different data from Zillow house sales data / verses this site: http://publicrecords.netronline.com/state/OH/ )
Is the rent realistic?
Thanks!
Most Popular Reply
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- Real Estate Broker
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RUN AWAY.
Horrible neighborhood.
Your tenants will be evicted then this home will be stripped of all valuables and worth next to nothing.
Here are some comps from the E 68th & St Clair area.
- 6526 Scheafer 44103 Duplex sold for $1 in 90 days
- 1085 Addison 44103 Duplex sold for $3,000 in 90 days
- 6206 Bonna 44103 SFR sold for $3,695 in 127 days
- 6618 Schaefer 44103 Duplex sold for $12,000 in 116 days
- 7126 Donald 44103 SFR sold for $14,000 in 92 days