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12
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Turnkey Rental
The rental market for this property shows strong potential, with estimated monthly income ranging between $1,382 and $1,815. This range reflects current local demand, offering investors a solid foundation for consistent cash flow in Cleveland Heights. With an impressive projected yield of 32.51% and an annual market-driven appreciation of $1,385, this property presents a compelling rental opportunity. These figures suggest a high-value asset capable of delivering both reliable income and growth.
More about this home
Neighborhood Assessment
Cleveland Heights' Minor Heights neighborhood offers solid investor potential. You've got Boulevard Elementary (0.1 miles away, 5/10 rating) and Cleveland Heights High (0.6 miles, 6/10) nearby, plus Roxboro Middle (1.8 miles, 6/10). Comps show quick sales like 3250 Altamont at $172K (3bd/2ba, 1560sqft) and rentals at $1.45K-$1.95K on Desota. Walkability's decent in this established 1920s area, but no big developments popping up lately. It's stable, not booming. This 3bd/1ba, 1233sqft ranch at $59K (down from $75K) screams flip opportunity—listing screams 'bring your crew.' Recent comps suggest post-rehab value could hit 140-170K.
Market Activity
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Rental Income
$19K
Yield
32.5%
Appreciation
$1K
Year 1 Estimates
Fix-and-Flip
Modernizing this property significantly boosts value, lifting price per square foot to roughly $134 from the $125 baseline. This 7% increase transforms the home’s appeal, helping it shine in a competitive market while unlocking greater potential. For investors and homeowners, these improvements enhance rental income and resale outlooks. With higher potential returns and better market positioning, updating creates a stylish, inviting space that attracts quality tenants and eager buyers alike. This is a smart move.
Value Add
$11K
Appreciation
$4K
Post Typical Renovation
Buy-Rehab-Rent
This property offers solid BRR potential with a post-renovation value estimated between $162,000 and $179,000. Investors can achieve a strong 13.6% yield, supported by a projected monthly rental income of $1,935 in this Cleveland market. The spread between baseline and renovated values suggests clear equity growth upon completion. With annual rental income reaching $23,220 and stable market appreciation, this single-family asset represents a practical opportunity for building a reliable, cash-flowing portfolio.
Rental Income
$23K
Yield
13.6%
Appreciation
$4K
Year 1 Estimates, Post Typical Renovation
Estimated value
$59K
$126K below comp median
Comparative Market Analysis
$134K – $260K
~47 days to sell
Based on 8 comps
3246 Altamont Ave, Cleveland Heights Investment Report: Flip & Rental Analysis · Frontflip