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10621 Vernon Ave, Garfield Heights, OH 44125

View Smart Contracts: Eth Gnosis

Total Investment: $ 111,782.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.82%

    Not including capital appreciation

  • Income per Token

    $ 4.99 / year
  • Income Start Date

    April 1, 2024
  • Token Price

    $ 50.81
  • Total Tokens

    2,200

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above yield for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.

  • Property Type

    Single Family
  • Full Address

    10621 Vernon Ave, Garfield Heights, OH 44125
  • Country

    USA
  • Source

    RealT
  • Neighborhood

    Garfield Heights
  • Construction Year

    1948
  • Bedroom/Bath

    3 Beds / 1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Rent Subsidy?

    Section 8
  • Rent Subsidy Pays...

    80%

Property Financials

  • Gross Rent / year

    $ 16,800.00
  • Gross Rent / month

    $ 1,400.00
  • Monthly Costs

    - $ 485.00
    • Property Management (8.00%)
      - $ 112.00
    • RealT Platform (2.00%)
      - $ 28.00
    • Maintenance Expenses
      - $ 120.00
    • Property Taxes
      - $ 150.00
    • Insurance
      - $ 75.00
    • Utilities
      Tenant-paid
  • Net Rent / month

    $ 915.00
  • Net Rent / year

    $ 10,980.00
  • Total Investment

    $ 111,782.00
    • Underlying Asset Price
      $ 91,000.00
    • Sourcing Fee (10%)
      $ 11,178.20
    • Initial Maintenance Reserve
      $ 2,800.00
    • Initial Renovation Reserve
      $ 4,000.00
    • Administrative Fees
      $ 2,500.00
    • Miscellaneous Costs
      $ 300.00
    • Unrounded Listing Price
      $ 111,778.20
    • Rounding Difference
      $ 3.80
  • Expected Income

    9.82%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    3,998
  • Foundation

    Masonry
  • Exterior Walls

    Frame
  • Roof Type

    Asphalt / Fiberglass
  • Interior Size (sqft)

    1,900
  • Heating

    Gas / Forced Air
  • Cooling

    Central Air
  • Building Class

    C
  • Renovated

    Yes
  • Property Manager

    Progressive Urban Property Management

Blockchain

  • Identifier

    REALTOKEN-S-10621-VERNON-AVE-GARFIELD-HEIGHTS-OH
  • Total Tokens

    2200

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    January 25, 2024
  • Issuer

    RealToken International 10621 Vernon Ave Inc
  • Min. Investment Amount

    $50.81
  • Max. Investment Amount

    $111,782.00
  • Amount Raised

    $111,782.00
  • Offering Percent (of Total Tokens)

    100.00%

Rent Assistance!

This property's rent is partly or wholly paid by the U.S. Federal Government through HUD Section 8.

The rent of Section 8 properties is usually exceptionally stable.

About the Property

Cozy Single-Family Retreat

Step into 10621 Vernon, a single-family residence offering 3 bedrooms and 1 bathroom spread across 1,900 square feet of living space on a 3,998 square-foot lot. This home features a spacious living room, an inviting eat-in kitchenette, and a basement. The location off Turney Road at Garfield Heights, near Dave’s Markets Groceries, the Charles A. Blaugrund Field and Garfield Heights High School, provides easy access to essential amenities and educational facilities.

A Neighborhood Rooted in History

Nestled in the Garfield Heights neighborhood, 10621 Vernon resides in a well-established community characterized by tree-lined streets and a diverse mix of architectural styles. As one of Cleveland’s “first tier” suburbs, Garfield Heights holds historical significance as an early development in the city’s history. Residents benefit from the neighborhood’s proximity to the extensive Cleveland Metroparks System, which spans over 21,000 acres and offers amenities such as the Cleveland Zoo, golf courses, horse stables, and a network of recreational trails.

Investment Potential

Token-holders of 10621 Vernon can anticipate an expected rental income of 9.82%. The property was acquired for $91,000, and the listing price also includes a $4,000 renovation budget for interior repairs and addressing deferred maintenance, ensuring the property remains well-maintained and attractive to tenants.

Map

Property Records

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Why Cleveland?

Invest Right

Cleveland’s robust economy traces its roots to the early 20th century, when it thrived as the sixth-largest city in the United States, with a population of just under one million residents. Its growth was fueled by its role as a port city connected to the Atlantic Ocean through the Saint Lawrence Seaway. Its economic landscape is diverse, including sectors such as higher education, manufacturing, financial services, healthcare, and biomedical technology.

Cleveland’s real estate market is characterized by steady home appreciation, making it one of the US markets least susceptible to price fluctuations. This resilience is sustained by factors such as its strategic location near rail and water routes, coupled with abundant natural resources like iron and oil. The city’s neighborhoods showcase a blend of historic architecture and modern developments, contributing to a contemporary and welcoming atmosphere.

The Interests, in the form of Series #1 RealTokens and future series of RealTokens, being offered are highly speculative in nature, involve a high degree of risk and should be purchased only by persons who can afford to lose their entire investment. There can be no assurance that the Company’s business objectives will be achieved or that a secondary market would ever develop for the Interests, whether via the RealToken Website, via third party registered broker-dealers or otherwise. Investing in private placements requires high risk tolerance, low liquidity concerns, and long-term commitments. The Interests being sold are not FDIC insured, may lose value, and there is no bank or other guarantee.

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