This spacious Cleveland colonial revival, only a 5 minute walk to the shore of Lake Erie, was built in the late 1990s and is listed for $60,600. Although the Euclid Beach area of the North Collinwood neighborhood is a bit rougher here than a mile further east, it is not horrible, and could be a decent place for either an owner-occupant or investor. The last owner paid $165,000 for this house (2/18/2004) and Zillow.com now estimates that it is worth $160,500.In addition to being close to the lake, this house is only a short drive to downtown Cleveland. A house like this could easily rent for $800 or more, easily covering the mortgage and delivering positive cash flow for an investor. This REO will need some work, likely costing $5,000 to $10,000, but the fact that it is a newer house makes it pretty desirable in this area.
The basics...
Address: 16012 Damon Avenue, Cleveland, OH 44110
Current Listing Price: $60,600
PREVIOUS Sale Price: $165,000 (2/18/2004)
Size: 3 Bedrooms, 2.5 Bathrooms; 1,460 square feet
Lot: .11 acres
http://www.realtor.com/realestate/cleveland-oh-44110-1101508258/
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