2909 W 117th Street: 3909 W 117th St, Cleveland OH 44111

3909 W 117th St, Cleveland, OH 44111

Singlefamily: 5 rooms: 2 bedrooms , 1 bathroom

Year built: 1925, Size: 1027 SF

Investment strategy: Rental Property

Purchase Price$ 55,000

Rent$ 1,400/mo

Monthly Cash Flow$ 767

Cash on Cash Return54.02 %

Financial Analysis

Cash on Cash Return	54.02 %
Internal Rate of Return (IRR)	45.17 %
Capitalization Rate	21.77 %
Gross Rent Multiplier (GRM)	3.27
Debt-coverage Ratio (DCR)	4.33
Operating Expense Ratio (OER)	24.97 %

Financial Breakdown

Purchase Price	$ 55,000
Purchase Costs	$ 3,300
Repair/Construction Costs	$ 0
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 58,300
Financing	$ 41,250
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 17,050
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 13,750
Cash During Rehab Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction. Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction.	$ 3,300

Operating Analysis

Rent	$ 1,400/mo
Gross Operating Income (GOI)	$ 15,960
Total Expenses	$ 3,986
Net Operating Income (NOI)	$ 11,974
Annual Debt Service	$ 2,764
Cash Flow Before Taxes (CFBT)	$ 9,210
Income Tax Liability	$ 2,045
Cash Flow After Taxes (CFAT)	$ 7,165

Amazing opportunity! Wonderful double with recently finished third floor. This house has had just two owners since 1927 and it retains all of it's original charm but with fully updated mechanical systems and energy efficient features. This includes newer plumbing, and electrical wiring, some vinyl windows. Two newer forced air furnaces. Special bonus are the solar panels on the roof of the garage which provides for much of the electric power supply for the home. This home features beautiful woodwork in terrific shape along with built in cabinetry with leaded glass. Included in the sale are two additional lots to the south of the home for your private park or garden in the City! There is nothing else like this available in the area! Close to Shaker Square, Larchmere, and University Circle.

Purchase Price	$ 55,000
Address	3909 W 117th St , Cleveland, 44111, OH
Year Built	1925
Type	Singlefamily
Size	1027 SF
Bedrooms	2
Bathrooms	1
Rooms Total	5

Annual Property Operating Data

Incomes		% of GOI
Gross Scheduled Income Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents. Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents.	$ 16,800
Total Gross Income	$ 16,800
Vacancy loss Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants. Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants.	$ 840
Gross Operating Income Gross Operating Income (GOI) An actual income which is expected to be collected in the property. Gross Operating Income (GOI) An actual income which is expected to be collected in the property.	$ 15,960	100.00 %
Expenses Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation). Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation).
Property manager	$ 1,596	10.00 %
Insurance	$ 550	3.45 %
Repairs	$ 1,440	9.02 %
Property tax	$ 400	2.51 %
Total Expenses	$ 3,986	24.97 %
Net Operating Income Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses. Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses.	$ 11,974	75.03 %

Cash Flow (Year 1)

Net Operating Income	$ 11,974	75.03 %
Annual Debt Service	$ 2,764	17.32 %
Cash Flow Before Taxes (CFBT) Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 9,210	57.71 %
Income Tax Liability	$ 2,045	12.81 %
Cash Flow After Taxes (CFAT) Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 7,165	44.89 %

Operating Ratios

Operating Expense Ratio Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI). Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI).	24.97 %
Break-Even Ratio Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less. Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less.	42.29 %

Year	0	1	2	3	4	5	6	7	8	9	10
Operational Analysis
Gross Scheduled Income	0	16,800	17,136	17,479	17,828	18,185	18,549	18,920	19,298	19,684	20,078
Vacancy Loss	0	840	857	874	891	909	927	946	965	984	1,004
Gross Operating Income	0	15,960	16,279	16,605	16,937	17,276	17,621	17,974	18,333	18,700	19,074
Expenses	0	3,986	4,066	4,147	4,230	4,315	4,401	4,489	4,579	4,670	4,764
Net Operating Income	0	11,974	12,213	12,458	12,707	12,961	13,220	13,485	13,754	14,029	14,310
Loan Payment	0	2,764	2,764	2,764	2,764	2,764	2,764	2,764	2,764	2,764	2,764
Payment Interest Part	0	2,193	2,162	2,129	2,094	2,057	2,018	1,977	1,934	1,889	1,841
Payment Principal Part	0	571	602	635	670	707	746	787	830	875	923
Cash Flow
Repairs/Construction	0	0	0	0	0	0	0	0	0	0	0
Cash Flow Before Taxes	-17,050	9,210	9,449	9,694	9,943	10,197	10,456	10,721	10,990	11,265	11,546
Depreciation	0	1,600	1,600	1,600	1,600	1,600	1,600	1,600	1,600	1,600	1,600
Taxes	0	2,045	2,113	2,182	2,253	2,326	2,400	2,477	2,555	2,635	2,717
Cash Flow After Taxes	-17,050	7,165	7,336	7,511	7,689	7,871	8,056	8,244	8,435	8,630	8,829

Note: All amounts in the table above are in $

Property Report :

2909 W 117th Street

3909 W 117th St, Cleveland, OH 44111

Executive Summary

3909 W 117th St, Cleveland, OH 44111

Financial Analysis

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Cash at Closing

Cash at Closing

Cash During Rehab

Cash During Rehab

Operating Analysis

Property Description

Operating Analysis

Annual Property Operating Data

Gross Scheduled Income (GSI)

Gross Scheduled Income (GSI)

Vacancy and Credit Loss

Vacancy and Credit Loss

Gross Operating Income (GOI)

Gross Operating Income (GOI)

Operating Expenses

Operating Expenses

Net Operating Income (NOI)

Net Operating Income (NOI)

Cash Flow (Year 1)

Cash Flow

Cash Flow

Cash Flow

Cash Flow

Operating Ratios

Operating Expense Ratio

Operating Expense Ratio

Break-Even Ratio (BER)

Break-Even Ratio (BER)

Long-term Cash Flow Forecast

Property Report: 2909 W 117th Street RENTAL

Property Report :

2909 W 117th Street

3909 W 117th St, Cleveland, OH 44111

Executive Summary

3909 W 117th St, Cleveland, OH 44111

Financial Analysis

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Cash at Closing

Cash at Closing

Cash During Rehab

Cash During Rehab

Operating Analysis

Property Description

Operating Analysis

Annual Property Operating Data

Gross Scheduled Income (GSI)

Gross Scheduled Income (GSI)

Vacancy and Credit Loss

Vacancy and Credit Loss

Gross Operating Income (GOI)

Gross Operating Income (GOI)

Operating Expenses

Operating Expenses

Net Operating Income (NOI)

Net Operating Income (NOI)

Cash Flow (Year 1)

Cash Flow

Cash Flow

Cash Flow

Cash Flow

Operating Ratios

Operating Expense Ratio

Operating Expense Ratio

Break-Even Ratio (BER)

Break-Even Ratio (BER)

Long-term Cash Flow Forecast