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13
Values up 17%, Rent hits $2,026
Updated 10 days ago • 2 new comps
Your Investment Paths
Turnkey Rental
The property at 906 East 147th Street shows impressive rental potential. Market analysis suggests a monthly income ranging between $1,911 and $2,026, highlighting a strong opportunity for investors seeking consistent cash flow in this neighborhood. With an estimated yield of 25.5%, this home is a standout prospect. Leveraging these competitive rental rates provides a solid foundation for maximizing returns, significantly outperforming current local market valuation trends for long-term residential holdings.
More about this home
Neighborhood Assessment
906 E 147th St sits in Cleveland's South Collinwood neighborhood, a working-class area with affordable entry points but mixed school ratings—East Clark at 5/10, Collinwood High just 2/10. Walkability's okay near amenities, though safety concerns linger. Nearby comps trade low: $10K-$85K range, signaling steady investor demand for rentals in this stable, low-risk flood/fire zone. It's got that turnkey rental vibe, you know? Low taxes around $1.2K/year keep holding costs down, perfect for cash flow plays. No major developments popping up, but Collinwood's slow revitalization hints at upside if the city keeps investing.
Market Activity
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Rental Income
$24K
Yield
25.5%
Year 1 Estimates
Fix-and-Flip
Upgrading adds significant value, boosting price per square foot from $44 to $85. This represents a 93% increase in value per square foot, positioning updated homes well above the neighborhood standard to attract eager buyers. Refreshing your property creates a premium feel that stands out in the current market. With a substantial value-add potential of nearly $62,000, these improvements turn a classic home into a modern, highly desirable living space.
Value Add
$62K
Post Typical Renovation
Buy-Rehab-Rent
This property offers significant upside through strategic renovation. Transforming the asset can elevate its market value from a baseline of roughly $66,000 to an estimated post-renovation range of $118,000 to $130,000, effectively maximizing equity capture. The investment generates strong cash flow, with projected monthly rental income hitting $1,816. An impressive 17.6% yield signals excellent income potential, making this a highly practical BRRRR opportunity for investors seeking solid returns in this market.
Rental Income
$22K
Yield
17.6%
Year 1 Estimates, Post Typical Renovation
Estimated value
$93K
$67.5K below comp median
Comparative Market Analysis
$130K – $245K
~96 days to sell
Based on 8 comps
906 E 147th St, Cleveland Investment Report: Flip & Rental Analysis · Frontflip