3280 E 121st Street, Cleveland, OH 44120

• 3 beds |
• 1 bath |
• 1,404 sqft

Property Description

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.

Listing Status:

Active

Data Last Updated:

March 17, 2026 at 3:19AM

Listing Office:

Team Results Realty : 614-382-2124

Listing Agent:

Scott A Marvin : 614-382-2124

MLS ID:

5190375

Interior

• Basement: Full
• A/C: None
• Heating: Forced AirGas
• Fireplace: Fireplaces: 0

Exterior

• Style: Traditional
• Parking: Off Street

Construction

• Roofing: Shingle
• General: BrickVinyl Siding2

Location

• Originating MLS: NOWDD_NORM
• School District: Cleveland Municipal - 1809
• County: Cuyahoga

Lot

• Zoning: 444 CRAWWDL 0230 ALL130-04-135

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: NOWDD_NORM