We purchased this Bedford, Ohio property in 2022 for $85,000 and added $18,030 in updates at that time.
The lease started at $1,250 per month in 2022 and was later increased to $1,400 per month until the tenant moved out. That tenant stayed for 48 months, which is exactly what good property management and the right location can help create.
After the tenant moved out, we completed another $13,500 in upgrades to keep the property strong and ready for the next renter.
That brings our total investment to:
Purchase Price: $85,000
Initial Updates: $18,030
Move-Out Updates: $13,500
Total Investment: $116,530
Now let’s look at the net rental returns after taxes, insurance, and property management:
2022: $650
2023: $10,000
2024: $9,000
2025: $9,362
2026: $3,372
Total Net Rental Return: $32,384
Today, this property is worth around $175,000, giving us an equity position of:
$175,000 - $116,530 = $58,470 in equity
Now add the rental return:
$58,470 equity + $32,384 net rent = $90,854 total return so far
That is a strong return on a well-bought, well-managed rental property.
And we are not selling it right now.
The new rent will be $1,600 per month, which gives us another $200 per month over the last rent amount — or about $2,400 more per year in additional gross rental income.
Bedford is an up-and-appreciating rental area, and a lot of people want to live there. The key is buying the right property, in the right area, with the right management plan.
Need that kind of property management for your rental property?
Picking the right properties makes all the difference.
📞 Call/Text: 216-703-5740
🌐 ClevelandIncomeRealEstate.com
📊 Stats: realincomeproperties.blogspot.com
🎥 YouTube: @BrettYoungCashflowhomes
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Thank you