Keeping Tenants After Purchase Can Create Immediate Cashflow

This property already had tenants in place when we purchased it — a mom and her son paying $950/month.

In 2024, market rents in this area were comping around $1,350/month.
By 2026, we successfully increased rent to $1,400/month.

Before making any changes, we met with the tenants, explained the upcoming rent increase, and asked if they wanted to stay.
They both said yes.

So instead of creating vacancy, we kept great paying tenants and completed strategic upgrades:

✅ New flooring
✅ Interior & exterior paint
✅ Basement cleaned and Drylocked
✅ New exterior screen doors
✅ Multiple additional improvements

This allowed us to raise rents while maintaining stability.

? Property Overview

Location: Wickliffe, Ohio
Purchase Date: September 2021

Purchase Price: $85,000
Rehab Investment: $15,000
Total Initial Investment: $100,000

? Leasing Performance

• Existing tenants stayed
• Days on Market: 0
• Vacancy: None
• Tenant Length: 20+ months
• Current Rent (2026): $1,400/month

? Net Rents Deposited to Owner

(After expenses)

2024: $6,924
2025: $14,240
2026 (YTD): $1,275

? Total Net Deposits to Owner: $22,439

? Equity Position

Approx Value After Bath Addition + Updates: $165,000
Additional Updates Budgeted: $25,000

? Profit Breakdown

Equity Created: + $40,000
Net Rents: + $22,439

Closing Costs: – $6,000
Purchase + Rehab: – $100,000
Additional Updates: – $25,000

✅ Approx Total Profit: $56,439

? Return Summary

• Approx ROI: 28%
• Low vacancy
• Stable long-term tenant
• Minimal maintenance
• Strong rent growth

This is what happens when you:

✔ Buy right
✔ Rehab correctly
✔ Keep quality tenants
✔ Lift rents strategically
✔ Control maintenance

Real estate works best when every piece is done professionally.

Let's Talk

Brett Young
? (216) 703-5740
Key Realty & Property Management

Mega Million Dollar Producer
? Award Winning Realtor
? 1200+ Properties and Counting

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