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1339 E 115th St
1339 E 115th St
Cleveland, OH 44106
About
Property originally listed for sale on the marketplace by David Sturgeon with Howard Hanna.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Owners voted to list the property for sale. See the "Property Update" section below for more details.
The Operating Reserve balance (-$2,023) is below half full.
Owners voted to apply 100% of the cash flow until the reserve is half full ($3,147) and apply 50% of cash flow until the reserve is full ($6,294).
Based on the projected monthly cash flow ($841), it will take ~6.1 months for the reserve to be half full and an additional ~7.5 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.
This Property received a loan of $295.03 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.
Single Family Home located in Cleveland, Ohio.
Details
- Fully rehabbed in 2019 and recently refreshed. View recent renovations here
- Under contract for $125.8k and the HouseCanary Agile Valuation is $132,500
- The Closing Costs have been increased to account for repairs which will be made post-close. The seller is providing the DAO LLC with a $5,000 repair credit. View the Inspection Report Repairs document for more details.
- Colonial style house with front porch
- Interior includes living room, dining room, modern kitchen with newer appliances
- Three bedrooms and one bathroom on second floor, two bedrooms and one bathroom on third floor
- Backyard is completely fenced in
- Closely located to University Circle, Cleveland Clinic, and downtown
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy through Obie Insurance
Occupancy Status
- Vacant
- Broken water lines must be repaired before the property can be listed for rent
Location Data
Due Diligence Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
About this offering
The Market
Cleveland, Ohio
Cleveland offers some of the most affordable housing of any major U.S. metro, backed by world-class healthcare employers like Cleveland Clinic and University Hospitals, plus Case Western Reserve University. West Side neighborhoods offer easy access to downtown, Lake Erie beaches, and the Metroparks. Playhouse Square, three pro sports teams, and the RTA rapid transit line add to the appeal, while a large renter population supports steady demand.
Property Updates
Governance Results:
The Governance Voting results are back for the vote to either accept or deny the buyers's request for owners to pay for the cleaning and sewer scope for $475 - $600.
The winning vote is:
Accept the request
This voting option received 730 / 1,041 token votes which is equal to 70.1% of the total votes.
The voting results can be found on chain here or by searching the application ID: 2268728245
The closing will move forward and the listing agent will provide any updates about the closing process promptly.
Investor Reviews
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Share price
1339 E 115th St
Cleveland, OH 44106
About
Property originally listed for sale on the marketplace by David Sturgeon with Howard Hanna.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Owners voted to list the property for sale. See the "Property Update" section below for more details.
The Operating Reserve balance (-$2,023) is below half full.
Owners voted to apply 100% of the cash flow until the reserve is half full ($3,147) and apply 50% of cash flow until the reserve is full ($6,294).
Based on the projected monthly cash flow ($841), it will take ~6.1 months for the reserve to be half full and an additional ~7.5 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.
This Property received a loan of $295.03 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.
Single Family Home located in Cleveland, Ohio.
Details
- Fully rehabbed in 2019 and recently refreshed. View recent renovations here
- Under contract for $125.8k and the HouseCanary Agile Valuation is $132,500
- The Closing Costs have been increased to account for repairs which will be made post-close. The seller is providing the DAO LLC with a $5,000 repair credit. View the Inspection Report Repairs document for more details.
- Colonial style house with front porch
- Interior includes living room, dining room, modern kitchen with newer appliances
- Three bedrooms and one bathroom on second floor, two bedrooms and one bathroom on third floor
- Backyard is completely fenced in
- Closely located to University Circle, Cleveland Clinic, and downtown
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy through Obie Insurance
Occupancy Status
- Vacant
- Broken water lines must be repaired before the property can be listed for rent
Location Data
Due Diligence Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
Offering Details
The Market
Cleveland, Ohio
Cleveland offers some of the most affordable housing of any major U.S. metro, backed by world-class healthcare employers like Cleveland Clinic and University Hospitals, plus Case Western Reserve University. West Side neighborhoods offer easy access to downtown, Lake Erie beaches, and the Metroparks. Playhouse Square, three pro sports teams, and the RTA rapid transit line add to the appeal, while a large renter population supports steady demand.
Property Updates
Governance Results:
The Governance Voting results are back for the vote to either accept or deny the buyers's request for owners to pay for the cleaning and sewer scope for $475 - $600.
The winning vote is:
Accept the request
This voting option received 730 / 1,041 token votes which is equal to 70.1% of the total votes.
The voting results can be found on chain here or by searching the application ID: 2268728245
The closing will move forward and the listing agent will provide any updates about the closing process promptly.
Investor Reviews
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Not paying rent right now
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
$0.00
Monthly Rent
$0.00
Monthly Expenses
$0.00
Paid to investors
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.