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eXp Realty
1875 Perth Road, Madison, OH 44057
- $342,400
- 8
- BD
- 3
- BA
- 3,169
- SqFt
- List Price
- $342,400
- Status
- ACTIVE
- Days on Market
- 57
- Price Change
- ▼ $2,500 1793402780
- MLS#
- 5245872
- Subtype
- Residential
- Style
- Colonial
- Year Built
- 1950
- Bedrooms
- 8
- Bathrooms
- 3
- Full Baths
- 3
- Living Area
- 3,169
- Acres
- 0.26
- Subdivision
- Madison Golf Lakelands
- Neighborhood
- Madison Golf Lakelands
- MLS Area Major
- Madison Twp
Property Description
$6,000 SELLER CREDIT with closing by December 15! Use it toward a rate buydown, closing costs or prepaids. OPPORTUNITY KNOCKS in Madison. This fully furnished 8-bedroom, 3-full-bath home has TWO full kitchens, TWO living rooms and a bonus first-floor office. The flexible layout suits a recovery home, group home, shared housing, foster care, nonprofit or mentorship program, or multigenerational living, with 4 bedrooms, a full bath, laundry and the office on the first floor. THE NUMBERS: At up to $700 per bed, 8 beds could gross about $5,600/month. With 20% down at 6.5%, estimated P&I is about $1,745/month. Add taxes of $4,225/yr (about $352/mo) and estimated insurance near $200/mo, for a total payment around $2,300/month. After an estimated 45% for vacancy, utilities, taxes, insurance and upkeep, that is roughly a 10% cap rate. Also a fit for furnished short, mid or long-term rentals. Located in Northeast Ohio's Lake Erie and Grand River Valley wine country, near wineries, Lake Erie recreation, parks, Geneva-on-the-Lake and SPIRE Institute. All figures are estimates. Rents, rates, insurance and occupancy limits vary. Buyers to verify all numbers and complete their own due diligence on requirements for their intended use. FULLY FURNISHED and ready for your vision!
Additional Information
- Taxes
- $4,225
- Property Description
- Colonial
- Appliances
- Cooktop, Dishwasher, Microwave, Range, Refrigerator
- Heating
- Forced Air, Gas, Hot Water, Steam
- Air Conditioning
- Central Air
- Stories
- 2
- Levels
- Two
- Roof
- Asphalt, Fiberglass
- Foundation
- Slab
- Parking Features
- Detached, Garage
- Garage Spaces
- 2
- School District
- Madison LSD Lake- 4303
Listing Courtesy of: Kit Custer, kitsoldit@gmail.com With RE/MAX Transitions
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