9% Cash on Cash return, $4,389 gross rent with room to increase!

https://www.zillow.com/homedetails/1545-Bunts-Rd-Lakewood-OH-44107/33501929_zpid/?view=public
Wonderful renovated brick fully occupied side-by-side duplex with over 5,000sqft of space in Lakewood, Ohio across the street from the community recreation center/gym! 4bd/1.5bth in each unit. Three finished floors of living space plus separated basements, no common areas between units, which is desirable with residents. New cement driveway. Three car garage. New roof on house and garage 2024 (~$40,000), all mechanicals newer, central AC, updated electrical panels, much more, over $100,000 invested into updates. Both units currently occupied and earning $4,389 per month. With a 25% down payment and if financed around 6.5% rate, the cash-on-cash return is just under 9% with current taxes ($619/mo) and insurance ($156/mo)! That is huge cashflow that can't be found these days, incredible opportunity for smart and efficient investors to make more money with less property management by renting higher rent units like these. Added value: With market rents (~$2,500 each) for these units being hundreds above where they are currently, you can push rents even higher to earn double-digit annualized returns! This property will be listed on the MLS 02/06/2025, and any inquires will be forwarded to Realtor.

Location:

1545 Bunts Rd., Lakewood, OH 44107