Property
Beds
3
Full Baths
1
1/2 Baths
None
Year Built
1923
Sq.Footage
950
ATTENTION INVESTORS: TURNKEY MAPLE HEIGHTS SECTION 8 CASH COW — RENTED AND CASHFLOWING FROM DAY ONE! $1,680/MO WITH UPSIDE. POS CLEAR! Fully rehabbed, stabilized Maple Heights rental at 16029 Friend Ave, currently rented with long term renter at $1,680/mo through CMHA Section 8 (100% of rent paid by the government). $20,168 PROJECTED ANUAL RENT!! CASH COW! MASSIVE DSCR RATIO! Do the math! Even at $20k/year currently, the property remains well under true market potential for this zip code (CMHA 2026 FMR for this zipcode is $2,339/mo). Tenant is on a month to month lease giving a new owner flexibility to either retain tenant (excellent cooperative tenant) or re-rent at a higher rate either via future CMHA adjustments or by re-tenanting at updated program/market rates. Quiet Maple Heights suburbia street. Recent improvements include brand new vinyl dual-pane windows, new stainless appliances, fresh paint throughout, refinished flooring, and an updated basement, with major CapEx already handled so the focus can stay on income and strategy rather than heavy repairs. Turnkey, rent-stabilized, and low-maintenance, this asset offers high DSCR at the right price and works equally well for first-time investors or those scaling a Section 8 portfolio. LEAD BASED PAINT TESTED ! Comes with cashflowing tenancy and strong transferrable owner lease. Part of a larger stabilized Section 8 portfolio—ask about additional properties. Do not disturb tenants; 48-hour notice is typically required for showings, often after accepted offer. HOUSE IS POS VIOLATION FREE! CLEAR POS, NO POS ESCROW REQUIRED. Tenant pays ALL UTILITIES except water! Any staged photos are computer-generated and can be shared with buyer upon a successful sell for later use. Brand new stainless steel refrigerator and range included. Property is sold unfurnished. Government pays 100% of monthly rent!
Features & Amenities
Interior
-
Total Bedrooms
3
-
Bathrooms
1
-
Above Grade Finished Area
950.0
-
Basement YN
YES
-
Cooling YN
NO
-
Cooling
None
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Natural Gas, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
Yes
-
Garage spaces
2
-
Construction Materials
Aluminum Siding, Vinyl Siding
-
Parking
Detached, Garage
-
Patio and Porch Features
Patio
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.1359
-
Property Type
Residential
-
Property Sub Type
Single Family Residence
-
Architectural Style
Traditional
Price
-
Sales Price
$139,400
-
Tax Amount
$2,059
-
Sq. Footage
950
-
Price/SqFt
$146
HOA
-
Association
No
School District
-
Elementary School
Maple Heights CSD - 1818
-
Middle School
Maple Heights CSD - 1818
-
High School
Maple Heights CSD - 1818
Property Features
-
Foundation Details
Block
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Cuyahoga
Elementary School
Maple Heights CSD - 1818
Middle School
Maple Heights CSD - 1818
High School
Maple Heights CSD - 1818
Listing Courtesy of Scott A Marvin, Team Results Realty
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Team Lead / Realtor®
Tyson Hartzler
Call Tyson today to schedule a private showing.
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