$168,750
About this home
Strong turnkey investment opportunity at **15332 Welton Drive in East Cleveland**. This duplex features **two 2-bedroom, 1-bath units and is fully occupied with Section 8 tenants**, providing immediate and consistent cash flow from day one. Current in-place rent totals **$2,300 per month**, which is already **$140 per month above the current $2,160 HUD Fair Market Rent** for the property. The property is positioned as a stabilized, income-producing asset with an estimated **10.00% cap rate**. Located in East Cleveland's 44112 ZIP code near Cleveland Heights, the property offers convenient access to major employment centers, transportation routes, shopping, and other Greater Cleveland amenities. This property is also available as part of an attractive **four-duplex, eight-unit Cleveland investment portfolio offered at $702,000**, giving buyers the opportunity to acquire a larger collection of income-producing and rent-ready assets within one transaction. The portfolio includes **15332 Welton Dr, 3611 E 116th St, 9223 Adams Ave, and 10906 Nelson Ave**, with more than **$120,000 in capital improvements** completed across the portfolio, including a combination of roofs, furnaces, hot water tanks, Lead Safe certifications, plumbing and sewer work, porches, gutters, windows, cabinets, appliances, and interior improvements. For investors looking to expand their Cleveland rental holdings, Welton offers an attractive combination of existing Section 8 occupancy, above-FMR rental income, and immediate cash flow, while the full portfolio provides additional scale and diversification across eight units. **No showings without an accepted offer.**
Property details
- MLS
- NOWDD
- MLS #
- 5246462
- Property type
- Duplex
- Subdivision
- Euclid 08
- Status
- Active
- Days on market
- 27
- On market date
- September 18, 2026
- Stories
- 2
- Total bathrooms
- 2
- Garage spaces
- 1
- Parking spaces
- N/A
- Lot size
- 0.1045 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 476
- Student:teacher ratio
- 21.6:1
- District
- Apex Academy
- Enrollment
- 339
- Student:teacher ratio
- 14.1:1
- District
- East Cleveland City School District
- Enrollment
- 607
- Student:teacher ratio
- 15.2:1
- District
- East Cleveland City School District
Walkability
Blended score for East Cleveland's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated 5 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.