3280 E 121st Street, Cleveland, OH 44120
Local realty services provided by:CENTURY 21 Bolte Real Estate
3280 E 121st Street,Cleveland, OH 44120
$139,000
- 3 Beds
- 1 Baths
- 1,404 sq. ft.
- Single family
- Active
Listed by: scott a marvin
Office: team results realty
MLS#:5190375
Source:OH_NORMLS
Price summary
- Price:$139,000
- Price per sq. ft.:$99
About this home
ATTENTION INVESTORS: SECTION 8 VALUE-ADD UPSIDE — RENT RESET PLAY WITH PROJECTED $1,600–$1,900/MO
Ideal for an investor who wants control and upside instead of just inheriting an old, under-market lease. The current CMHA tenant is on a month-to-month lease and has fallen behind on rent, but is cooperative and willing to work with ownership, creating a natural transition point to either structure a cure plan or non-renew and bring in a fresh, fully qualified Section 8 tenant at today's stronger rent levels. Based on current CMHA schedules and area performance, a refreshed tenancy is expected to support a revised rent in the projected $1,500–$1,900/month range, subject to CMHA approval and buyer verification. The house also has a value-add opportunity with ample basement space to add 2 more bedrooms, increasing the rent potential to $1800-2400/mo.
Located in a high-demand rental corridor on Cleveland's east side, this property sits in a strong proven Section 8 pocket where homes lease quickly and stay full. The house itself is in good shape, with key CapEx already handled — including a recent partial roof replacement — helping limit long-term deferred maintenance and keeping the focus on rent strategy rather than heavy repairs. Lead-based paint testing has been completed and passed, with the report available upon request, offering a compliance-ready asset for a new owner.
Month-to-month status gives maximum flexibility to line up your next tenant and transition on your schedule while keeping options open with the current, cooperative renter. Once stabilized with a new or restructured Section 8 contract at updated rent, this becomes the kind of low-drama, government-backed income stream that performs well as a long-term hold.
PART OF A LARGER STABILIZED SECTION 8 PORTFOLIO — INQUIRE FOR INFORMATION ON OTHER LISTINGS. Do not disturb tenants. 48-hour notice typically required for showings. Showings only after accepted offer.
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Home facts
- Year built:1920
- Listing ID #:5190375
- Added:1 day(s) ago
- Updated:March 03, 2026 at 03:16 PM
Rooms and interior
- Bedrooms:3
- Total bathrooms:1
- Full bathrooms:1
- Rooms Total:6
- Basement:Yes
- Basement Description:Full
- Living area:1,404 sq. ft.
Heating and cooling
- Heating:Forced Air, Gas
Structure and exterior
- Roof:Shingle
- Year built:1920
- Building area:1,404 sq. ft.
- Lot area:0.11 Acres
- Construction Materials:Brick, Vinyl Siding
- Levels:2 Story
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$139,000
- Price per sq. ft.:$99
- Tax amount:$1,288 (2025)
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