$168,750

About this home

Strong turnkey, as-is investment opportunity with immediate cash flow and significant value-add upside at 10906 Nelson Avenue in Cleveland. This duplex features two 2-bedroom, 1-bath units and is fully occupied, providing rental income from day one. Current in-place rent totals $1,680 per month, while HUD Fair Market Rent is approximately $2,140 per month, creating a substantial $460-per-month rent gap and clear opportunity to increase income over time. As currently rented, the property underwrites to an estimated 7.13% cap rate, with the opportunity to increase that to approximately 9.2% at HUD Fair Market Rent using the same expense assumptions. Because the property is already fully occupied and Lead Safe Certified, the value-add opportunity can be captured through future rent adjustments and natural tenant turnover rather than requiring a major renovation or construction project. Located in Cleveland's 44105 ZIP code, Nelson Avenue offers convenient access to I-77, the Opportunity Corridor, University Circle, Cleveland Clinic, shopping, public transportation, and major employment centers. 10906 Nelson Avenue is also available as part of a four-duplex, eight-unit Cleveland investment portfolio offered at $702,000. 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 properties, 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 for a turnkey cash cow with tenants already in place and strong built-in value-add potential, Nelson offers immediate income today with meaningful room to grow rents toward current HUD levels over time. No showings without an accepted offer.

Property details

MLS

NOWDD

MLS #

5246474

Property type

Duplex

Subdivision

Home Gradens Allotment

Status

Active

Days on market

27

On market date

September 18, 2026

Stories

2

Total bathrooms

2.5

Garage spaces

N/A

Parking spaces

N/A

Lot size

0.0872 acres

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.