5550 Grasmere AvenueMaple Heights, OH 44137

5550 Grasmere AvenueMaple Heights, OH 44137

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$189,000 Active
Residential - Single Family MLS 5190367

Listed By

Agency Name: Team Results Realty
Agency Contact: 614-382-2124, scottamarvin@gmail.com

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

ATTENTION INVESTORS: TURNKEY HIGH-END CASH COW IN MAPLE HEIGHTS ? $2,350/MO, 100% SUBSIDIZED This fully remodeled SFH is a true cashflow machine, currently rented at $2,350/mo through EDEN (HUD-funded, similar to Section 8) with 100% subsidy ? no tenant portion and significantly reduced collection risk. Month-to-month tenant is cooperative and gives you maximum flexibility: keep the strong cashflow as-is, or plan a future move-out to reposition, flip, or push rents even higher. The home was completely rebuilt with brand-new everything: new kitchen with quartz countertops, new cabinets and hardware, stainless steel appliances, brand-new refrigerator and stove, brand-new furnace, brand-new hot water tank, and fully updated full-tile bathroom with modern backlit vanity mirrors. Four large bedrooms (two on the main level, two up) make this a highly desirable layout and a strong rent-per-square-foot performer. The property shows normal cosmetic wear from a living tenant but remains fully updated; if the tenant ever moves out, a light cosmetic refresh is all that's needed to make it show like brand new again. The huge, clean, dry basement offers value-add potential for two additional bedrooms, with comps suggesting rent could push $3,100+ if/when re-approved by the subsidy provider for new tenant if desired. This one offers multiple exit strategies: keep it as a high-yield EDEN cash cow, finish the basement and drive rents higher, or turn it as a retail flip in a VERY STRONG MAPLE HEIGHTS market. Fully rehabbed, high-end finishes, modern updates, well maintained, low-maintenance asset, fully occupied, major cashflow. Strong lease is transferrable and very owner-protective. PART OF A LARGER STABILIZED SUBSIDIZED PORTFOLIO ? INQUIRE FOR INFORMATION ON OTHER LISTINGS. Do not disturb tenants. 48-hour notice typically required for showings. Showings after accepted offer. Artistic marketing renders and photos are transferable to buyer for future use in listings.

5550 Grasmere Avenue | MLS# 5190367

This single family home located at 5550 Grasmere Avenue, Maple Heights, OH 44137 is currently listed for sale with an asking price of $189,000. This property was built in 1925 and has 4 bedrooms and 1 full baths with 924 sq. ft. Grasmere Avenue is located in the Mapleboro Park Allotment 02 subdivision within the Maple Heights City school district. Search Mapleboro Park Allotment 02 real estate on 2210scrollroadsw.cutlerhomes.com today.

Property Features

Property Type: Residential - Single Family
Basement: Full
Basement: Yes
Cooling: None
Days on Market: 1
Garage: 2
Heating: Forced Air, Gas, Gravity
Home Style: Traditional
Lot Size: 0.10 Acres
Roof Type: Shingle
Stories: 2.0
Taxes: $3,603 / year
Year Built: 1925

Feature Descriptions

Appliances: Range, Refrigerator
Exterior: Brick, Vinyl Siding
Parcel#: 781-15-101
Parking: Detached, Garage
Patio/Porch: Deck, Patio, Porch, Screened
Sewer: Public Sewer
Water: Public

Local Schools

School District: Maple Heights City

Source: Delta Media Group, Inc.

Demographics

Cuyahoga County Demographic Information for 5550 Grasmere Avenue, Maple Heights, OH 44137
Fips
Fips Code 39035
Population
2020 to 2023 Change down 2.5%
2010 Count 1,280,122
2020 Count 1,264,817
2023 Estimate (V2023) 1,233,088
2020 Estimate (V2023) 1,264,775
Age Distribution (Years Old)
0 to 4 5.3%
5 to 17 20.3%
18 to 64 54.8%
65 and Older 19.6%
Gender
Male 48.1%
Female 51.9%
Place of Birth
Foreign 7.6%
US 92.4%
Education
High School Graduate, Age 25+ 90.9%
Bachelor's Degree or Higher, Age 25+ 35.2%
Computer and Internet use
Households with a computer 92.0%
Households with a broadband Internet subscription 85.7%
Language
English is Second Language, Age 5+ 12.3%
English is First Language, Age 5+ 87.7%
Veterans
Veterans 60,427
Income
Per Capita Income $39,807
Median Household Income $60,074
People in Poverty 16.6%
Commute
Average Work Commute Time 24 minutes
Housing
Total Housing Units 615,116
Households 552,421
Average Household Size 2.23
Owner-Occupied 58.4%
Multi-Family 34.9%
Owner-Occupied Median Value $168,700
Median selected monthly owner costs -with a mortgage $1,472
Median selected monthly owner costs -without a mortgage $630
Median gross rent $952
Building Permits
New Private Housing Issued 2023 1,028
Years at Residence
1 Year or More 86.1%
Less Than 1 Year 13.9%
Business and Employment
Private non-farm Establishments 31,738
Private non-farm Employment 631,443
Private non-farm Employment Growth up 0.7%
Nonemployer Establishments 105,877
Number of Firms 114,192
Business Production
Value of Shipments $23,225,392,000
Wholesale Trade $24,854,217,000
Retail Trade $16,920,714,000
Retail Sales Per Capita $11,914
Accommodation and Food Services $3,332,698,000
Land
Land Area 457.19 sq. miles
Population Per Square Mile 2,800

Source: US Census Bureau

Estimate Your Payment

Estimated Payment

$ 1,277.51 per month $922.13 Principal & Interest $300.25 Property Tax $55.13 Homeowner's Insurance

Change Payment Information

%
years/fixed
yearly
yearly (est.)
(Payments are an estimate and may vary by lender)
Croos Country Mortgage