469 Terrace Drive, Bedford, OH: A 4-Bedroom Investment Property with Long-Term Income Already in Place

By Mike Ferrante, Broker Associate, Mike Team at LPT Realty

Finding a property that combines immediate cash flow, long-term stability, and strong tenant appeal is becoming increasingly challenging. That's what makes 469 Terrace Drive in Bedford stand out. This remodeled four-bedroom bungalow offers investors the opportunity to acquire a property with an established tenant already in place, while also appealing to future owner-occupants thanks to its flexible layout and desirable features.

With four bedrooms, a detached garage, a large backyard, and a lease extending through August 2027, this Bedford property provides a compelling combination of income potential and long-term value.

A Rare Four-Bedroom Layout

One of the biggest advantages of 469 Terrace Drive is its four-bedroom floor plan. Many homes in this price range offer only two or three bedrooms, making the additional bedroom a valuable feature for both tenants and future buyers.

The bungalow-style design creates a comfortable and functional living environment while maintaining the charm that many buyers appreciate in established Northeast Ohio neighborhoods. The home's remodeled condition means many improvements have already been completed, allowing new owners to focus less on renovations and more on enjoying the benefits of ownership.

Whether used by a growing family, remote workers needing office space, or tenants looking for extra room, the additional bedroom expands the property's appeal.

Outdoor Space That Adds Value

Today's buyers and renters continue to place a premium on outdoor living, and 469 Terrace Drive delivers.

The oversized backyard provides room for countless possibilities. Future owners may envision a patio, outdoor dining area, garden, play space, or entertaining area for friends and family. The generous lot size creates opportunities that are often hard to find in similar properties.

The detached two-car garage adds another layer of convenience, providing secure parking, additional storage, and functional workspace potential.

Immediate Rental Income for Investors

For investors, one of the most attractive features of this property is the existing tenant situation.

The home is currently occupied by a tenant paying $1,650 per month plus utilities, providing immediate rental income from the day of purchase. Even more importantly, the lease remains in place through August 31, 2027, creating long-term stability and reducing turnover concerns.

Properties with established tenants can help investors avoid vacancy periods while offering predictable income and simplified ownership during the lease term.

Why Bedford Continues to Attract Buyers and Renters

Bedford remains a popular destination for people seeking affordability, convenience, and community.

Residents enjoy easy access to major highways, making commuting throughout Greater Cleveland simple and efficient. The city also offers local restaurants, shopping, parks, schools, and community amenities that contribute to its appeal for both homeowners and renters.

The combination of accessibility and neighborhood character continues to make Bedford a market worth watching for real estate investors seeking opportunities in Northeast Ohio.

A Property Designed for Flexibility

Real estate investors often look for properties that can adapt to changing market conditions over time. With four bedrooms, a remodeled interior, a large backyard, a detached garage, and an existing lease, 469 Terrace Drive offers multiple paths forward.

The home can continue serving as an income-producing rental, while future buyers may see value in the additional living space and convenient Bedford location. This flexibility is one reason properties like this can generate strong interest among investors and owner-occupants alike.

Schedule Your Showing Today

Whether you're looking to expand your investment portfolio or secure a property with built-in rental income, 469 Terrace Drive deserves a closer look.

For additional information or to schedule a showing, contact Colleen Varnick at Colleen.Varnickc21@gmail.com, or call me at 216-373-7727.