This property was purchased from a real estate agent before it was listed for $105,000 in June of 2021. The rehab was Approx $15,000 for a total of $120,000.
This property was leased for $1200 a month with an existing tenant already living in the property and wanted to stay.
The rent has been lifted every year the tenant has lived in the home. This home has had only 1 tenant for 4 1/2 years.
Let's look at the net rents that deposited in this clients account
2021: $ 7,350
2022: $ 10,427
2023 $ 10,963
2024 $ 11,014
2025 $ 8,676
Total amount deposited in owners account so far $48,430
Let's look at the approx value of this home $225,000
$225,000- $120,000 (purchase and rehab) - $25,000 (added value updates) = $80,000 approx equity.
$80,000 (Approx Equity) + $48,420 (Net rent deposited) = $128,420
That is a 24% return on this client's money so far!
Let's Talk
Contact Brett 216-703-5740 Key Realty and Property Management
Mega Million Dollar Producer and Award Winning Realtor 1200+ Properties and counting Go to https://realincomeproperties.blogspot.com/ to view what our clients make with our real estate Need Property Management? Go to https://pmohio.org/
Go to https://www.clevelandincomerealestate.com/ for my Blog
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Thank you