$62,500

This is one of the cheapest ways to start or grow a rental portfolio in Cleveland. The 2-bedroom, 1-bath colonial in Union-Miles comes with a tenant who has lived here since 2017 and pays $665 a month. You collect rent from day one, with no vacancy, no make-ready work and no tenant search. The house has vinyl siding and vinyl windows throughout, so the outside and the windows shouldn’t need big spending soon. Inside there are 999 sq ft over two floors, a full basement for storage and utilities, forced-air heat and an enclosed front porch. Annual taxes are about $980. There’s room to raise the rent over time. HUD’s current Fair Market Rent for a 2-bedroom in ZIP 44105 is $1,070 a month, well above the current rent. The location keeps it easy to rent: about 8 minutes to I-77, 11 minutes to I-480, 12 minutes to Cleveland Clinic and University Circle, and 14 minutes to downtown. The Union Branch library and Luke Easter Park are both within about a mile. Low price, steady income, a long-term tenant and a solid exterior. There arent many opportunties to get a solid house for around 60k anymore, but this is one of them!