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16910 Grovewood Ave, Cleveland, OH 44110

View Smart Contracts: Eth Gnosis

Total Investment: $ 94,091.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.61%

    Not including capital appreciation

  • Income per Token

    $ 4.89 / year
  • Income Start Date

    April 6, 2024
  • Token Price

    $ 50.86
  • Total Tokens

    1,850

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

    Duplex
  • Full Address

    16910 Grovewood Ave, Cleveland, OH 44110
  • Country

    USA
  • Source

    RealT
  • Neighborhood

    North Collinwood
  • Construction Year

    1928
  • Total Units

    2 Units
  • Bedroom/Bath

    2x2 Beds / 2x1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 16,980.00
  • Gross Rent / month

    $ 1,415.00
  • Monthly Costs

    - $ 661.50
    • Property Management (8.00%)
      - $ 113.20
    • RealT Platform (2.00%)
      - $ 28.30
    • Maintenance Expenses
      - $ 180.00
    • Property Taxes
      - $ 190.00
    • Insurance
      - $ 150.00
    • Utilities
      Tenant-paid
  • Net Rent / month

    $ 753.50
  • Net Rent / year

    $ 9,042.00
  • Total Investment

    $ 94,091.00
    • Underlying Asset Price
      $ 69,000.00
    • Sourcing Fee (10%)
      $ 9,409.10
    • Initial Maintenance Reserve
      $ 2,830.00
    • Initial Renovation Reserve
      $ 10,000.00
    • Administrative Fees
      $ 2,500.00
    • Miscellaneous Costs
      $ 350.00
    • Unrounded Listing Price
      $ 94,089.10
    • Rounding Difference
      $ 1.90
  • Expected Income

    9.61%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    4,552
  • Foundation

    Masonry
  • Exterior Walls

    Frame
  • Roof Type

    Asphalt / Fiberglass
  • Interior Size (sqft)

    1,952
  • Heating

    Gas / Forced Air
  • Cooling

    None
  • Building Class

    C
  • Renovated

    Yes

Blockchain

  • Identifier

    REALTOKEN-S-16910-GROVEWOOD-AVE-CLEVELAND-OH
  • Total Tokens

    1850

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    February 8, 2024
  • Issuer

    RealToken International 16910 Grovewood Ave Inc
  • Min. Investment Amount

    $50.86
  • Max. Investment Amount

    $94,091.00
  • Amount Raised

    $94,091.00
  • Offering Percent (of Total Tokens)

    100.00%

About the Property

Colonial Charm in Cleveland

16910 Grovewood is a pleasant duplex constructed in the colonial style. Each unit consists of 2 bedrooms and 1 bathroom, making it an ideal residential property for small families. Built on a 4,552 square-foot lot, this property offers a comfortable living space with the convenience of a 2-car garage, and the colonial design gives the duplex a vintage feel. The nearby Grovewood Park and Humphrey Park offer easy access to green spaces for residents.

Picturesque Surroundings

Located in the North Collinwood neighborhood of Cleveland, Grovewood benefits from its proximity to Lake Erie, and sits just nine miles northeast of downtown. The neighborhood is known for its picturesque surroundings, with green spaces and lakefront parks such as Euclid Beach Park, a popular destination for fishing and concerts. North Collinwood also boasts the Waterloo Arts and Entertainment District, featuring theaters, art galleries, locally-owned restaurants, and shops along Waterloo Road.

Enhancements and Yield

Token-holders of this property can anticipate an expected rental income of 9.61%. The property was acquired for a reasonable price of $69,000, and a $10,000 renovation budget is included in the listing price to cover painting, entry and roof enhancements, and minor repairs to ensure that the property meets the standards of its tenants and maintains its long-term value and attractiveness in the rental market.

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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