1848 Stanwood Road, East Cleveland, OH 44112
- $119,900
- 4
- BD
- 1
- BA
- 1,894
- SqFt
- List Price
- $119,900
- Status
- ACTIVE
- Days on Market
- 62
- Price Change
- ▼ $5,000 1782977474
- MLS#
- 5210226
- Subtype
- Residential
- Style
- Colonial
- Year Built
- 1899
- Bedrooms
- 4
- Bathrooms
- 1
- Full Baths
- 1
- Living Area
- 1,894
- Acres
- 0.13
- Subdivision
- Grasmere Allotment
- Neighborhood
- Grasmere Allotment
- MLS Area Major
- Cleveland
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
- Property Description
- Colonial
- Heating
- Forced Air
- Air Conditioning
- None
- Stories
- 3
- Levels
- Three Or More
- Roof
- Slate
- Foundation
- Block
- Parking Features
- Driveway, Garage, Off Street
- Garage Spaces
- 2
- School District
- East Cleveland CSD - 1812
Listing Courtesy of: Christopher Walling, realtorwalling@gmail.com With Red 1 Realty, LLC
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