1108 Lake Avenue, Elyria, Ohio, 44035

A Great Investment Opportunity in Elyria, OH

Property Details

A classic single-family house featuring 4 bedrooms, 1 bathroom, and 1,528 sqft of living space on a 3,920 sqft lot with no garage.

• Roof: Fair

• Furnace: Old (seller has replaced many parts)

• AC: N/A (window-mounted units)

• Plumbing: Good

• Electrical Panel: Good

• Water Heater: Good

The property will be delivered vacant at closing.

Investment Highlights

• Hot market with low inventory relative to demand - 34.8% of recent deals closed in under 10 days

• Property in good overall shape (4/5 condition) with updates completed in 2020

• Strong investor ROI of 20.15% at target price after transaction costs

• Full basement provides additional space, plus extra storage in the attic

• Estimated $35K scope of work to bring property to rental-ready condition

• Close to highways, shopping, parks, and schools

• Proven zipcode performance: 44% sales rate on blasted deals with average of 6 interested buyers per property and $7,718 average profit per closed deal

Financial Summary

• ARV (After Repair Value): $135,000 - $145,000

A Wonderful Wholesale Opportunity!