18707 Shawnee AVE new Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44119
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,004 sqft
Price per Sqft $144
Subdivision Euclid 17
MLS Listing ID 5134354
Style Split Level
Bedrooms 3
Full Baths 2
Year Built 1940
Annual Tax Amount $1,896
Tax Year 2024
Lot Size 5,000 Sqft
Property Sub-Type Single Family Residence
Property Description
ATTENTION INVESTORS: TURNKEY SECTION 8 CASH COW — $1,635/MO WITH MORE UPSIDE! — CLEVELAND TAXES, HIGH EUCLID RENTS, EXCELLENT DSCR
This property is a major cashflow performer, currently generating $1,635/mo — $1,494 fully covered by CMHA Section 8, plus an additional $141/mo in garage rent paid directly by the tenant with an increase in sight! Already submitted. Government-backed income, 100% split (CMHA pays 100%), with no tenant portion risk. Property is fully stabilized with long-term happy tenant, and producing a massive DSCR even at today's interest rates. Massive ratio!
Located just blocks from Euclid, it benefits from higher Euclid-level rents while paying lower Cleveland taxes without Euclid POS — maximizing net yield. Property is on a clean, quiet, high-rental-demand street where rentals move quickly and stay full, near banks, restaurants, shops and grocery store. Walk to any of them. Rent it for the cashflow, or buy it as an owner. Many houses on this street are owner occupied!
Turnkey, perfect for investors looking to start with no vacancy down time.
Big rehab includes: restored hardwood floors, new kitchen flooring, fresh paint, brand new appliances, sink and hardware, and overall refresh, along with a nice fenced-in backyard. Dry basement offers value-add potential to add 1–2 bedrooms and increase rent significantly. likely increase in rent of $500/mo with two additional basement bedrooms. PRIME AREA!
LEAD BASE PAINT TESTING COMPLETE AND PASSED!
Fully rehabbed, rent-stabilized, excellent tenant, well maintained, low-maintenance asset, high-demand. Strong lease is transferrable and very owner-protective. Excellent DSCR ratio and investment!
PART OF A LARGER STABILIZED SECTION 8 PORTFOLIO — INQUIRE FOR INFORMATION ON OTHER LISTINGS.
Do not disturb tenants. 48-hour notice typically required for showings. Showings after accepted offer. Artistic marketing renders and photos are transferable to buyer for future use in listings."
Location
State OH
County Cuyahoga
Interior
Heating Forced Air,Gas
Cooling None
Fireplaces Number 1
Fireplaces Type Wood Burning
Exterior
Parking Features Detached,Garage
Garage Spaces 2.0
Garage Description 2.0
Roof Type Shingle
Building
Story 2
Foundation Block
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Special Listing Condition Standard