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16007 Nelacrest Rd, East Cleveland, OH 44112

View Smart Contracts: Eth xDai

Total Investment: $ 360,864.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.87%

    Not including capital appreciation

  • Rent per Token

    $ 5.45 / year
  • Rent Start Date

    April 1, 2022
  • Token Price

    $ 50.12
  • Total Tokens

    7,200

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

    Multi Family
  • Full Address

    16007 Nelacrest Rd, East Cleveland, OH 44112
  • Neighborhood

    East Cleveland
  • Construction Year

    1954
  • Stories

    2 Stories
  • Total Units

    8 Units
  • Bedroom/Bath

    4x2, 4x1 Bed / 8x1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    No

Property Financials

  • Gross Rent / year

    $ 58,800.00
  • Gross Rent / month

    $ 4,900.00
  • Monthly Costs

    - $ 1,630.00
    • Property Management (8.00%)
      - $ 392.00
    • RealT Platform (2.00%)
      - $ 98.00
    • Maintenance Expenses
      - $ 240.00
    • Property Taxes
      - $ 250.00
    • Insurance
      - $ 150.00
    • Utilities
      - $ 500.00
  • Net Rent / month

    $ 3,270.00
  • Net Rent / year

    $ 39,240.00
  • Total Investment

    $ 360,864.00
    • Underlying Asset Price
      $ 305,000.00
    • Operating Expense Reimbursement (10%)
      $ 36,088.89
    • Initial Maintenance Reserve
      $ 9,800.00
    • Initial Renovation Reserve
      $ 10,000.00
    • Unrounded Listing Price
      $ 360,888.89
    • Rounding Difference
      - $ 24.89
  • Expected Income

    10.87%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    16,117
  • Foundation

    Slab
  • Exterior Walls

    Brick
  • Roof Type

    Composition Shingle
  • Parking

    4 covered garages w/ 2 spaces each; 4 outdoor spaces
  • Interior Size (sqft)

    6,734
  • Heating

    Forced Air / Natural Gas
  • Cooling

    None

Test Renovation content!

About the Property

16007 Nelacrest

Shade trees line the front of this mid-1950s two-story brick charmer. The beautiful brickwork, well-maintained roof, and well-lit exterior combine with accents like frosted block privacy windows to make Nelacrest an appealing place to call home.

Nelacrest houses eight units in two stories, and offers its tenants four covered two-car garages along with its four outdoor parking spaces — a great convenience in the snowy Midwest winter! The front of the building also enjoys a small green space where tenants gather on sunny days year-round. Built in an era renowned for its quality and maintained through the years, we expect Nelacrest to be a low-maintenance property with a consistent yield and happy tenants.

Map

Property Records

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Why Cleveland?

Invest Right

Cleveland is a city transformed. Once dependent on the manufacturing industry for its prosperity, this vibrant midwest city has reinvented its economy and diversified into a myriad of industries including service, high-tech, blue- and white-collar employment. This makes the city stronger overall, and poised for growth wherever the future takes it.

Cleveland’s recent building boom is driven by its excellent rental market and the growing tourism and convention industry, and it has been identified as a top location for college graduates to start their careers. Add to that the natural beauty of Lake Erie’s southern shore, the Rock and Roll Hall of Fame, one of the world’s finest orchestras, and lively major-league sports teams, and it’s easy to see why Cleveland is the place to be.

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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