Property Description

Investor-friendly buy & hold opportunity at 3568 E 118th St, Cleveland, OH 44105. This 4-bedroom, 2-bath, 2,200 SQFT duplex is tenant-occupied (month-to-month) and offers light rehab potential with an estimated $1218K needed post-vacancy. Built in 1920, the property features separate furnaces (no central AC), 2 newer water heaters, and no major plumbing or electrical issues reported. With an ARV of $135,000, providing ~$35000 in built-in equity. Current rent is $650/month downstairs, with market rent projected at $1,150$1,250/month, offering an estimated cash flow of $300$400/month/ unit and a 1520% cash-on-cash return. Light cosmetic updates and turnover work will position this property for long-term rental success in the 44105 market.

3568 E 118th Street | MLS# 5187749

This multi-family property located at 3568 E 118th Street, Cleveland, OH 44105 is currently listed for sale with an asking price of $76,500. E 118th Street is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on 762hunterstrail.cutlerhomes.com today.

Property Features

Property Type: Multi Unit - Multiple

Basement: Yes

Basement: Full, Unfinished

Cooling: Ceiling Fan(s)

Days on Market: 22

Garage: 2

Heating: Forced Air, Gas

Lot Size: 0.11 Acres

Roof Type: Slate

Stories: 3.0

Taxes: $1,636 / year

Year Built: 1920

Amenities

Built-in Features

Ceiling Fan(s)

Eat-in Kitchen

Balcony

Feature Descriptions

Accessibility: None

Appliances: Range, Refrigerator

Community Features: Curbs, Laundry Facilities, Medical Service, Playground, Park, Shopping, Street Lights, Sidewalks

Exterior: Frame

Fencing: None

Laundry: Washer Hookup, In Basement

Lot: City Lot, Flat, Level

Parcel#: 137-01-061

Parking: Detached, Garage Faces Front, Garage, Off Street

Patio/Porch: Balcony

Sewer: Public Sewer

Water: Public

Local Schools

School District: Cleveland Municipal - 1809

Demographics

Cuyahoga County Demographic Information for 3568 E 118th Street, Cleveland, OH 44105

Fips

Fips Code 39035

Population

2020 to 2023 Change down 2.5%

2010 Count 1,280,122

2020 Count 1,264,817

2023 Estimate (V2023) 1,233,088

2020 Estimate (V2023) 1,264,775

Age Distribution (Years Old)

0 to 4 5.3%

5 to 17 20.3%

18 to 64 54.8%

65 and Older 19.6%

Gender

Male 48.1%

Female 51.9%

Place of Birth

Foreign 7.6%

US 92.4%

Education

High School Graduate, Age 25+ 90.9%

Bachelor's Degree or Higher, Age 25+ 35.2%

Computer and Internet use

Households with a computer 92.0%

Households with a broadband Internet subscription 85.7%

Language

English is Second Language, Age 5+ 12.3%

English is First Language, Age 5+ 87.7%

Veterans

Veterans 60,427

Income

Per Capita Income $39,807

Median Household Income $60,074

People in Poverty 16.6%

Commute

Average Work Commute Time 24 minutes

Housing

Total Housing Units 615,116

Households 552,421

Average Household Size 2.23

Owner-Occupied 58.4%

Multi-Family 34.9%

Owner-Occupied Median Value $168,700

Median selected monthly owner costs -with a mortgage $1,472

Median selected monthly owner costs -without a mortgage $630

Median gross rent $952

Building Permits

New Private Housing Issued 2023 1,028

Years at Residence

1 Year or More 86.1%

Less Than 1 Year 13.9%

Business and Employment

Private non-farm Establishments 31,738

Private non-farm Employment 631,443

Private non-farm Employment Growth up 0.7%

Nonemployer Establishments 105,877

Number of Firms 114,192

Business Production

Value of Shipments $23,225,392,000

Wholesale Trade $24,854,217,000

Retail Trade $16,920,714,000

Retail Sales Per Capita $11,914

Accommodation and Food Services $3,332,698,000

Land

Land Area 457.19 sq. miles

Population Per Square Mile 2,800

Source: US Census Bureau

Estimate Your Payment

Estimated Payment

$ 531.89 per month $373.24 Principal & Interest $136.33 Property Tax $22.31 Homeowner's Insurance

Change Payment Information

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3568 E 118th StreetCleveland, OH 44105