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9423 Denison Ave
9423 Denison Ave
Cleveland, OH 44102
About
Property originally listed for sale on the marketplace by City Redevelopment LLC.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Updated as of 5/15/2025:
This Property received a loan of $642.02 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.
Owners voted to do a Capital Call for $12,700 to complete the lead remediation repairs. After adding the interest rate of 8.5%, the total amount is $13,779.50.
The current Capital Call balance is $1,079.91. The Operating Reserve balance is -$16,100.50, which includes unpaid bills. The Operating Reserve balance at half full is $4,125 and is $8,250 at full.
100% of rent goes to repayments until 50% of loan is paid (accelerated pay off), then 50% of rent continues to go to repayment until fully paid off, while the other 50% of rent goes to the Operating Reserve. Rent yield to owners resumes when the Operating Reserve is full.
2-Unit property (Duplex) located in Cleveland, Ohio.
Details
- Updated throughout including new floors (either vinyl plank or refinished hardwood) and updates to kitchens and bathrooms
- Solid mechanicals for both units as well as newer hot water tanks
- Owner pays water/sewer and the tenants pay for the rest of the utilities
- Located just blocks away from restaurants and freeway access
- Evernest is holding $721.12 in operating cash for this property to cover unpaid bills from other properties. The Operating Reserve balance reflects what it will be once the funds are released, since these funds are owed to the property. Once the outstanding bills are settled, the cash will be transferred. Learn more here.
Property Management and Insurance
- Managed by Whalec Property Management
- Insurance Policy through Obie Insurance
Occupancy Status
- Unit 9423 (Delinquent)
- Tenant owes a balance of $640.99
- 1 year lease (05/24/2024 - 05/23/2025)
- $750/month
- $750 Security Deposit
- Lease Agreement
- Unit 9425
- 1 year lease (05/28/2025 - 05/27/2026)
- $1,110/month
- $2,200 Security Deposit
- Lease Agreement
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Inspection Report
- Purchase Agreement
- Operating Agreement
- Closing Statement
- Deed
- View All 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 for 9423 Denison Ave:
The Governance Voting results are back for the owner-proposed vote.
The winning vote is:
YES – Authorize Alec VanBeek / Whalec Property Management LLC to sell the property for maximum token value without further governance votes.
This voting option received 954 / 1,039 token votes, which is equal to 92% of the total votes.
The voting results can be found on chain here or by searching the application ID: 3215942578
Investor Reviews
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Share price
9423 Denison Ave
Cleveland, OH 44102
About
Property originally listed for sale on the marketplace by City Redevelopment LLC.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Updated as of 5/15/2025:
This Property received a loan of $642.02 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.
Owners voted to do a Capital Call for $12,700 to complete the lead remediation repairs. After adding the interest rate of 8.5%, the total amount is $13,779.50.
The current Capital Call balance is $1,079.91. The Operating Reserve balance is -$16,100.50, which includes unpaid bills. The Operating Reserve balance at half full is $4,125 and is $8,250 at full.
100% of rent goes to repayments until 50% of loan is paid (accelerated pay off), then 50% of rent continues to go to repayment until fully paid off, while the other 50% of rent goes to the Operating Reserve. Rent yield to owners resumes when the Operating Reserve is full.
2-Unit property (Duplex) located in Cleveland, Ohio.
Details
- Updated throughout including new floors (either vinyl plank or refinished hardwood) and updates to kitchens and bathrooms
- Solid mechanicals for both units as well as newer hot water tanks
- Owner pays water/sewer and the tenants pay for the rest of the utilities
- Located just blocks away from restaurants and freeway access
- Evernest is holding $721.12 in operating cash for this property to cover unpaid bills from other properties. The Operating Reserve balance reflects what it will be once the funds are released, since these funds are owed to the property. Once the outstanding bills are settled, the cash will be transferred. Learn more here.
Property Management and Insurance
- Managed by Whalec Property Management
- Insurance Policy through Obie Insurance
Occupancy Status
- Unit 9423 (Delinquent)
- Tenant owes a balance of $640.99
- 1 year lease (05/24/2024 - 05/23/2025)
- $750/month
- $750 Security Deposit
- Lease Agreement
- Unit 9425
- 1 year lease (05/28/2025 - 05/27/2026)
- $1,110/month
- $2,200 Security Deposit
- Lease Agreement
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Inspection Report
- Purchase Agreement
- Operating Agreement
- Closing Statement
- Deed
- View All 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 for 9423 Denison Ave:
The Governance Voting results are back for the owner-proposed vote.
The winning vote is:
YES – Authorize Alec VanBeek / Whalec Property Management LLC to sell the property for maximum token value without further governance votes.
This voting option received 954 / 1,039 token votes, which is equal to 92% of the total votes.
The voting results can be found on chain here or by searching the application ID: 3215942578
Investor Reviews
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Not paying rent right now
Right now this home's rent goes toward costs such as repairs, refilling the operating reserve, or covering a vacancy.
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
$1,110.00
Monthly Rent
$1,110.00
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.