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(D) 616 E 131st St, Cleveland, OH 44108

View Smart Contracts: xDai

Total Investment: $ 113,332.50

Non-US Total: $ 106,331.07

US-Only Total: $ 7,001.43

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Property Highlights

  • Expected Income

    11.81%

    Not including capital appreciation

  • Rent per Token

    $ 5.95 / year

  • Rent Start Date

    August 1, 2022

  • Token Price

    $ 50.37

  • Total Tokens

    2,250

  • Non-US Tokens

    2111

  • US-Only Tokens

    139

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

    616 E 131st St, Cleveland, OH 44108

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Forest Hill

  • Construction Year

    1921

  • Stories

    2 Stories

  • Total Units

    2 Units

  • Bedroom/Bath

    2x3 Bed / 2x1 Bath

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 19,800.00

  • Gross Rent / month

    $ 1,650.00

  • Monthly Costs

    - $ 535.00
    • Property Management (8.00%)
      - $ 132.00
    • RealT Platform (2.00%)
      - $ 33.00
    • Maintenance Expenses
      - $ 100.00
    • Property Taxes
      - $ 125.00
    • Insurance
      - $ 45.00
    • Utilities
      - $ 100.00

  • Net Rent / month

    $ 1,115.00

  • Net Rent / year

    $ 13,380.00

  • Total Investment

    $ 113,332.50
    • Underlying Asset Price
      $ 56,000.00
    • Operating Expense Reimbursement (10%)
      $ 11,233.33
    • Initial Maintenance Reserve
      $ 2,100.00
    • Initial Renovation Reserve
      $ 41,000.00
    • Administrative Fees
      $ 1,000.00
    • Miscellaneous Costs
      $ 1,000.00
    • Unrounded Listing Price
      $ 112,333.33
    • Rounding Difference
      $ 999.17

  • Non-US Portion

    $ 106,331.07

  • US-Only Portion

    $ 7,001.43

  • Expected Income

    11.81%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    4,995

  • Foundation

    Masonry Block

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Parking

    2 Spaces, Detached Garage

  • Interior Size (sqft)

    1,613

  • Heating

    Forced Air / Gas

  • Cooling

    None

  • Building Class

    C

  • Renovated

    Rehab

  • Property Manager

    ORG Rentals, LLC

Blockchain

  • Identifier

    REALTOKEN-D-616-E-131ST-ST-CLEVELAND-OH

  • US-Only Tokens

    139

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    July 8, 2022

  • Issuer

    RealToken 616 E 131st St, Inc

  • Min. Investment Amount

    $50.37

  • Max. Investment Amount

    $7,001.43

  • Amount Raised

    $7,001.43

  • Offering Percent (of Total Tokens)

    6.18%

About the Property

616 E 131st

Cleveland is an area that RealT loves, and we are pleased to be able to offer this beautiful duplex.

Our strategy for this acquisition is simple. First, we want to renovate it, and we have budgeted $41,000 for the following improvements:

  • Clean and redo the entire basement, which is no longer up to standards
  • Change the two hot water tanks and repair the boilers
  • Renovate the apartments (kitchen, floor paint, bathrooms, floor, fire suppression, fire alarm)
  • Repair the garage and the gutters

At the end of the renovation, we will change tenants. We already have a waiting list in Cleveland for HUD Section 8 tenants. This decision will allow us to increase rents.

The renovation phase and the turnover of tenants should take between 3 and 6 months. During this period, our expected income will be 6%. After stabilization, we project an expected income of 12% for this duplex.

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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