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Mike Ferrante

mike@21mike.com +1(216) 373-7727

$ 200,000

Est. payment | -/mo

4 Beds

2 Baths

1,594 SqFt

Save

$ 200,000

Est. payment | -/mo

Save

4 Beds

2 Baths

1,594 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,594 sqft

Price per Sqft $125

Subdivision Ceder Centre Sub

MLS Listing ID 5224618

Style Bungalow

Bedrooms 4

Full Baths 2

HOA Y/N No

Abv Grd Liv Area 1,594

Year Built 1950

Annual Tax Amount $4,471

Tax Year 2025

Lot Size 7,749 Sqft

Acres 0.1779

Property Sub-Type Single Family Residence

Property Description

Priced at $200,000/ house part of a turnkey 16-property single-family rental portfolio across highly desirable Cleveland East suburbs including South Euclid, Cleveland Heights, Lyndhurst, Mayfield Heights, and Cleveland. Offered as a package at $3,200,000. This stabilized portfolio includes 16 individual single-family homes with established rental history, strong tenant demand, and immediate cash flow from day one. Current rent roll reflects approximately $33,685/month in scheduled rental income ($404,220 annually). Based on provided income and property taxes, the portfolio produces approximately $344,121 NOI, representing an attractive 10.75% cap rate at the asking price (buyer to verify all expenses and financials). Many properties feature updates, desirable layouts, and tenant-friendly amenities including updated finishes, and central air at many locations. These homes are strategically located near major employment centers, shopping, dining, parks, schools and transportation, making them ideal long-term rental assets. Portfolio Highlights: • 16 Single-Family Rental Homes • $33,685/month rental income • $404,220 gross annual income • Approx. 10.75% cap rate based on provided rent roll • Stabilized tenant base • Renovated and income-producing assets • Strong Cleveland suburban rental markets • Excellent opportunity for investors seeking scale and diversification Included properties: 6601 Ridgeview Rd Mayfield Heights; 4011 Lancaster Rd South Euclid; 7220 Deveny Ave Cleveland; 1171 Quilliams Rd Cleveland Hts; 956 Nobleshire Rd Cleveland Hts; 857 Quarry Dr Cleveland Hts; 4033 Stonehaven Rd South Euclid; 4241 Verona Rd South Euclid; 1513 Westdale Rd South Euclid; 4187 Stilmore Rd South Euclid; 4218 Stilmore Rd South Euclid; 4198 Eastway Rd South Euclid; 1799 Wrenford Rd South Euclid; 4349 Ardmore Rd South Euclid; 4847 Farnhurst Rd Lyndhurst; 1509 Maple Rd Cleveland Hts. Call today for additional details!

Location

State OH

County Cuyahoga

Rooms

Main Level Bedrooms 2

Interior

Heating Baseboard, Gas

Cooling None

Fireplace No

Exterior

Parking Features Detached, Garage, Paved

Garage Spaces 1.0

Garage Description 1.0

Water Access Desc Public

Roof Type Asphalt,Fiberglass

Private Pool No

Building

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Bungalow

Level or Stories Two

Schools

School District South Euclid-Lyndhurst - 1829

Others

Tax ID 704-21-006

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW

Listed by Jesse R Kracht • Russell Real Estate Services • jessek.cst@gmail.com, 440-212-5656

Schools and Properties Nearby

Mike Ferrante

Broker Associate

+1(216) 373-7727 | mike@21mike.com

4198 Eastway RD South Euclid, OH 44121

Mike Ferrante

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Learn More About LPT Realty

4198 Eastway RD