3 Beds
1 Bath
950 SqFt
3 Beds
1 Bath
950 SqFt
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 950 sqft
Price per Sqft $146
Subdivision Friend
MLS Listing ID 5241544
Style Traditional
Bedrooms 3
Full Baths 1
HOA Y/N No
Abv Grd Liv Area 950
Year Built 1923
Annual Tax Amount $2,059
Tax Year 2025
Lot Size 5,919 Sqft
Acres 0.1359
Property Sub-Type Single Family Residence
Property Description
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!
Location
State OH
County Cuyahoga
Rooms
Other Rooms Shed(s)
Basement Full
Interior
Heating Forced Air, Gas
Cooling None
Fireplaces Type Wood Burning
Fireplace No
Window Features Double Pane Windows
Appliance Range, Refrigerator
Exterior
Parking Features Detached, Garage
Garage Spaces 2.0
Garage Description 2.0
Water Access Desc Public
Roof Type Fiberglass,Shingle
Porch Patio
Private Pool No
Building
Foundation Block
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
Additional Building Shed(s)
Schools
School District Maple Heights Csd - 1818
Others
Tax ID 781-06-021
Special Listing Condition Standard
Nearby Locations
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