This classic early 20th century duplex in Lakewood, a stable inner-ring suburb just west of Cleveland, is listed for $57,900 --- about $100,000 lower than its Zillow.com estimated value of $158,800. The previous owner of this property paid $145,000 for it several years ago (12/31/2001).This duplex is in a well-maintained part of Lakewood where there is strong demand for rental units. With some basic repair work and cosmetic updating ($10,000, give or take), both of these units could be ready for occupancy. Each unit of this house could be rented for $750 to $1,000 per month, which makes it ideal for either an investor looking for good cash flow or an owner-occupant who wants to live in a good area and let his or her tenants fully foot the bill. A deal-seeker in the Cleveland area will not want to miss this property.
The basics...
Address: 1203 Marlowe Avenue, Lakewood, OH 44107
Current Listing Price: $57,900
PREVIOUS Sale Price: $145,000 (12/31/2001)
Size: 6 Bedrooms, 2 Bathrooms; 2,728 square feet (total for 2 units)
Lot: .13 acres
http://www.realtor.com/realestate/lakewood-oh-44107-1098931709/
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