11115 Wade Park AVE Active Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44106
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Subdivision Wade
MLS Listing ID 5119816
Style Colonial
Bedrooms 7
Full Baths 3
Year Built 1910
Annual Tax Amount $6,756
Tax Year 2024
Lot Size 0.266 Acres
Property Sub-Type Single Family Residence
Property Description
LOCATION, LOCATION, LOCATION! PROPERTY LOCATED WITHIN WALKING DISTANCE OF CASE WESTERN RESERVE. CURRENTLY USED AS A RENTAL AT 775 PER BEDROOM. MOST OF THE LARGER HOMES IN THE NEIGHBORHOOD DO SERVE AS RENTALS FOR INTERNATIONAL STUDENTS, CASE WESTERN HAS A SEVERE SHORTAGE OF HOUSING SO THESE STUDENTS DO LIKE TO LIVE OFF CAMPUS IN THEIR OWN RENTAL HOMES. MOST STAY ON FOR THE 4 YEARS WHILE AT CASE AND MANY STAY ON FOR POST GRADUATE. STILL A GOOD OPPORTUNITY TO GET RENTED FOR THE 2025 NEW SCHOOL YEAR IN MID AUGUST. PROPERTY ITSELF IS GORGEOUS WITH BEAUITFUL HARDWOOD FLOORS, THICK CROWN MOLDING, WOOD/BRICK FIREPLACE WITH BEAUTIFUL MANTEL. PROPERTY HAS SIDE ENCLOSED PATIO AND A TIER DECKING. CURRENTLY WIITH 55,800 OF POTENTIAL ANNUAL INCOME AND APPROX 8800 IN EXPENSES YOUR NOI IS 50K OR A CAP RATE OF 9.8% - THAT'S HUGE FOR ANY AREA OF GREATER CLEVELAND LET ALONE PROPERTY WITHIN WALKING DISTANCE OF CASE....THAT'S LIQUID GOLD! SELLER WILLING TO HOLD NOTE FOR 5 YEARS AT 6.5% INTEREST AMORTIZED AT 30 YEARS WITH BALLOON PAYMENT ON THE 60TH PAYMENT .......ALL WITH 25% DOWN. NOTE THAT STUDENTS A LITTLE MESSY BUT NOT DIRTY, BUT PROPERTY HAS GOOD BONES. GROUP FROM BRAZIL GOING BACK HOME IN AUGUST - ALL GRADUATED. CALL US TODAY THIS ONE WON'T LAST!
Location
State OH
County Cuyahoga
Interior
Heating Hot Water,Steam
Cooling Ceiling Fan(s),Wall/Window Unit(s)
Fireplaces Number 1
Exterior
Parking Features Driveway
Roof Type Asphalt,Fiberglass
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809