Two-Family Cleveland Home: Sold for $1,200

This East Cleveland duplex sold to an investor. Real estate agent Tonya Perkins-Stoudermire says the new owner will need to make repairs in the kitchens and bathrooms, and plumbing and electrical upgrades are likely. The house belongs to a neighborhood filled with vacant residences, but much of the stock is "beautiful," notes Perkins-Stoudermire. She says investors have been snapping up these homes and turning them into income-generating rentals, and she says they are saving neighborhoods in the process.
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