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12808 Gruss Ave
12808 Gruss Ave
Cleveland, OH 44108
About
Property originally listed for sale on the marketplace by EGTD Properties LLC HTTA EGTD Properties, LLC.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Updated as of 2/15/2025:
Owners voted to sell the property. See the "Property Updates" section below for more details.
This Property received a loan of $869.01 at a 13.5% interest rate from the Universal Lending DAO for outstanding insurance payments, due to the low Operating Reserve balance. This insurance must be paid for in order to prevent cancellation of the insurance policy.
The Operating Reserve balance (-$3,714) is below half full.
Owners voted to apply 100% of cash flow until the reserve is half full ($2,500) and 50% of cash flow until the reserve is full ($5,000).
Based on the projected monthly cash flow ($1,201) if both tenants pay rent on time, it will take ~5.2 months for the reserve to be half full and ~4.2 months for the reserve to be full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
2-Unit property (Duplex) located in Cleveland, Ohio.
Details
- Renovated in 2019
- New roof, new furnaces, new hot water tanks, new kitchen, new bathroom, new plumbing, new electrical, newly refinished hardwood floors throughout, painted exterior and interior, and brand new water and sewer lines from the street.
- 4 bedrooms, 2 bathrooms and approximately 2,214 sqft of floor space
- Lot size of 4,000 sqft
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy from Shelter Mutual Insurance Company
Occupancy Status
- Unit 1 (Downstairs)
- Vacant
- Unit 2 (Upstairs)
- Vacant
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Assignment Contract
- Operating Agreement
- Closing Statement
- View All Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
About this offering
The Market
Cleveland, Ohio
Cleveland, Ohio offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
Governance Results for 12808 Gruss Ave:
The Governance Voting results are back to determine whether to accept, counter, or deny the offer of $73,770.
The winning vote is:
Counter at $75k (Listing agent's recommendation)
This voting option was declared the winner in Round 6 via the Ranked Choice Voting method with 412 token votes.
The voting results can be found on chain here or by searching the application ID: 2648685358
The listing agent sent the counter to the buyer's agent, and will provide an update once they hear back.
Investor Reviews
N/A/5(0 reviews)No reviews yet
Investors haven't shared their experience with this property yet.
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$0
Monthly Rent
$373
Monthly Expenses
-$373
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.
About this offering
Returns
Monthly Operating Statement
Order book
Trading has not opened yet
The order book appears once this property reaches the secondary market and investors can place buy and sell orders.
Share price
12808 Gruss Ave
Cleveland, OH 44108
About
Property originally listed for sale on the marketplace by EGTD Properties LLC HTTA EGTD Properties, LLC.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Updated as of 2/15/2025:
Owners voted to sell the property. See the "Property Updates" section below for more details.
This Property received a loan of $869.01 at a 13.5% interest rate from the Universal Lending DAO for outstanding insurance payments, due to the low Operating Reserve balance. This insurance must be paid for in order to prevent cancellation of the insurance policy.
The Operating Reserve balance (-$3,714) is below half full.
Owners voted to apply 100% of cash flow until the reserve is half full ($2,500) and 50% of cash flow until the reserve is full ($5,000).
Based on the projected monthly cash flow ($1,201) if both tenants pay rent on time, it will take ~5.2 months for the reserve to be half full and ~4.2 months for the reserve to be full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
2-Unit property (Duplex) located in Cleveland, Ohio.
Details
- Renovated in 2019
- New roof, new furnaces, new hot water tanks, new kitchen, new bathroom, new plumbing, new electrical, newly refinished hardwood floors throughout, painted exterior and interior, and brand new water and sewer lines from the street.
- 4 bedrooms, 2 bathrooms and approximately 2,214 sqft of floor space
- Lot size of 4,000 sqft
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy from Shelter Mutual Insurance Company
Occupancy Status
- Unit 1 (Downstairs)
- Vacant
- Unit 2 (Upstairs)
- Vacant
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Assignment Contract
- Operating Agreement
- Closing Statement
- View All Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
Offering Details
The Market
Cleveland, Ohio
Cleveland, Ohio offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
Governance Results for 12808 Gruss Ave:
The Governance Voting results are back to determine whether to accept, counter, or deny the offer of $73,770.
The winning vote is:
Counter at $75k (Listing agent's recommendation)
This voting option was declared the winner in Round 6 via the Ranked Choice Voting method with 412 token votes.
The voting results can be found on chain here or by searching the application ID: 2648685358
The listing agent sent the counter to the buyer's agent, and will provide an update once they hear back.
Investor Reviews
N/A/5(0 reviews)No reviews yet
Investors haven't shared their experience with this property yet.
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$0
Monthly Rent
$373
Monthly Expenses
-$373
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.