5550 Grasmere Avenue, Maple Heights, OH 44137

$189,000
  • 5550 Grasmere Avenue, Maple Heights, OH 44137 Main Photo
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BEDS4 BATHS1 full SQUARE FEET924 MLS#5190367
STATUSActive PROPERTY TYPEResidential - Single Family SUBDIVISIONMapleboro Park Allotment 02 SCHOOLMaple Heights City

Property Description

ATTENTION INVESTORS: TURNKEY HIGH-END CASH COW IN MAPLE HEIGHTS ? $2,350/MO, 100% SUBSIDIZED This fully remodeled SFH is a true cashflow machine, currently rented at $2,350/mo through EDEN (HUD-funded, similar to Section 8) with 100% subsidy ? no tenant portion and significantly reduced collection risk. Month-to-month tenant is cooperative and gives you maximum flexibility: keep the strong cashflow as-is, or plan a future move-out to reposition, flip, or push rents even higher. The home was completely rebuilt with brand-new everything: new kitchen with quartz countertops, new cabinets and hardware, stainless steel appliances, brand-new refrigerator and stove, brand-new furnace, brand-new hot water tank, and fully updated full-tile bathroom with modern backlit vanity mirrors. Four large bedrooms (two on the main level, two up) make this a highly desirable layout and a strong rent-per-square-foot performer. The property shows normal cosmetic wear from a living tenant but remains fully updated; if the tenant ever moves out, a light cosmetic refresh is all that's needed to make it show like brand new again. The huge, clean, dry basement offers value-add potential for two additional bedrooms, with comps suggesting rent could push $3,100+ if/when re-approved by the subsidy provider for new tenant if desired. This one offers multiple exit strategies: keep it as a high-yield EDEN cash cow, finish the basement and drive rents higher, or turn it as a retail flip in a VERY STRONG MAPLE HEIGHTS market. Fully rehabbed, high-end finishes, modern updates, well maintained, low-maintenance asset, fully occupied, major cashflow. Strong lease is transferrable and very owner-protective. PART OF A LARGER STABILIZED SUBSIDIZED 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.

5550 Grasmere Avenue | MLS# 5190367

This single family home located at 5550 Grasmere Avenue, Maple Heights, OH 44137 is currently listed for sale with an asking price of $189,000. This property was built in 1925 and has 4 bedrooms and 1 full baths with 924 sq. ft. Grasmere Avenue is located in the Mapleboro Park Allotment 02 subdivision within the Maple Heights City school district. Search Mapleboro Park Allotment 02 real estate on www.dehoff.com today.

Property Features

Property Type: Residential - Single Family
Basement: Full
Basement: Yes
Cooling: None
Garage: 2
Heating: Forced Air, Gas, Gravity
Home Style: Traditional
Lot Size: 0.10 Acres
Roof Type: Shingle
Stories: 2.0
Taxes: $3,603 / year
Year Built: 1925

Feature Descriptions

Appliances: Range, Refrigerator
Days on Site: 1
Exterior: Brick, Vinyl Siding
Parcel#: 781-15-101
Parking: Detached, Garage
Patio/Porch: Deck, Patio, Porch, Screened
Sewer: Public Sewer
Water: Public

Local Schools

School District: Maple Heights City

Listed By / Shown By

Listed By

Agency Name: Team Results Realty
Agency Contact: 614-382-2124, scottamarvin@gmail.com

Shown By

Agency Title: DeHOFF REALTORS
Agency Phone: 330-499-8153

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Estimated Payment

$ 1,190.31 per month $834.93 Principal & Interest $300.25 Property Tax $55.13 Homeowner's Insurance

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