$20,000 Cleveland Fixer-Upper: 7107 Ivy Ave Offers a Full Renovation Opportunity

Finding an affordable single-family property in a major Ohio city can be challenging, especially for buyers searching for a home with enough space to renovate and potentially create long-term value. Located at 7107 Ivy Ave, Cleveland, Ohio 44127, this two-story property is currently listed for $20,000 and presents itself as a full-rehabilitation opportunity.

Built in 1900, the approximately 1,280-square-foot home features two bedrooms, one full bathroom, a traditional colonial layout, a full basement, aluminum and vinyl siding, and an asphalt driveway. The property sits on a 3,676-square-foot lot and is being marketed specifically toward investors looking for a renovation project.

The listing describes the property as requiring a complete renovation and highlights a significant opening in the roof over the rear kitchen bump-out. That condition makes professional inspection and careful renovation planning particularly important for anyone considering the property.

At the same time, the relatively low purchase price and the home’s existing layout may make it an interesting project for experienced investors, contractors, or buyers who understand the costs and challenges associated with restoring older residential properties.

Property Overview

The home at 7107 Ivy Ave is a traditional Cleveland colonial dating back approximately to 1900. With more than a century of history, the property represents an older style of residential construction that can provide a foundation for a substantial renovation.

According to the listing information, the house contains approximately 1,280 square feet of interior living space.

The property includes:

• 2 bedrooms
• 1 full bathroom
• 1,280 square feet
• 3,676-square-foot lot
• Full basement
• Two-story layout
• Traditional colonial architecture
• Aluminum and vinyl siding
• Asphalt driveway
• Public water
• Public sewer
• Forced-air heating
• Built in 1900

The listing is currently presented as a cash-oriented investment opportunity, with the seller stating that no seller financing is available.

A $20,000 Starting Point for a Major Renovation

The asking price is one of the most notable aspects of this property.

At $20,000, the home is being offered at a price point that is substantially below the cost of many move-in-ready properties. However, the low acquisition price should not be confused with the total cost of ownership.

This is clearly marketed as a renovation project.

The listing specifically states that the property requires a complete renovation, meaning prospective buyers should consider not only the purchase price but also the costs associated with bringing the structure, systems, interior, and exterior to an acceptable condition.

For an experienced investor, the low acquisition price may create room for a carefully planned rehabilitation strategy. For an inexperienced buyer, however, the property could represent a much more complicated undertaking than the initial price suggests.

The appropriate approach would be to determine the complete project budget before making an offer or committing to the purchase.

The Roof Condition Requires Immediate Attention

One of the most important details in the listing is the reported significant opening in the roof over the rear kitchen bump-out.

This is an issue that should receive immediate attention during due diligence.

Roof openings can allow water intrusion into the structure and may affect roofing materials, framing, insulation, ceilings, walls, electrical components, and other areas of the house.

Because the property dates to 1900, a buyer should not assume that addressing the visible roof problem will be the only necessary structural work.

A professional inspection can help determine the extent of any water damage and identify whether additional repairs are needed.

Before developing a renovation budget, buyers may want to obtain estimates from qualified roofing and construction professionals.

Traditional Two-Story Colonial Layout

The property features a traditional two-story configuration.

The listing describes a spacious living room, a functional kitchen, adjoining dining space, and a full basement.

This type of layout can provide a useful starting point for renovation because the major living functions are already defined.

A future renovation could potentially focus on improving finishes, updating mechanical systems, modernizing the kitchen and bathroom, and improving overall functionality while maintaining the home’s original character.

Any changes to the floor plan should, of course, be evaluated against structural conditions, local building requirements, and the actual configuration of the property.

Spacious Living Room

The living room is described as spacious and forms one of the principal gathering areas within the home.

A generous living area can be useful for both owner-occupants and future rental tenants.

For a renovated property, this room could potentially accommodate a traditional seating arrangement, entertainment area, or flexible living space.

The existing proportions of the room may also provide opportunities to improve lighting, flooring, wall finishes, and overall appearance.

Because the home was built in 1900, buyers interested in preserving historic character may also wish to investigate whether any original architectural details remain beneath or behind later improvements.

Functional Kitchen With Dining Area

The property includes a kitchen with an adjoining dining area.

This arrangement creates a practical connection between food preparation and everyday living.

However, the kitchen is also located near the area where the listing identifies the roof opening, making this portion of the property especially important during inspection.

A complete renovation could potentially involve new cabinets, countertops, flooring, appliances, lighting, plumbing fixtures, and finishes.

The final configuration would depend on the existing condition of the room, available utilities, structural considerations, and the buyer’s renovation objectives.

For an investment property, a functional and durable kitchen can be one of the most important areas to address during rehabilitation.

Two Bedrooms and One Full Bathroom

The home currently offers two bedrooms and one full bathroom.

The bedroom configuration may appeal to buyers looking for a smaller single-family home or investors targeting rental demand for affordable housing.

The relatively compact bedroom count can also help keep the property straightforward compared with larger homes requiring numerous rooms to be renovated.

At the same time, buyers should verify the actual dimensions, condition, windows, electrical outlets, heating distribution, and other features of each bedroom during an inspection.

The single-bathroom configuration also means that the existing bathroom should be carefully evaluated for plumbing, ventilation, fixtures, flooring, and overall condition.

Full Basement Adds Additional Space

Another notable feature is the full basement.

The basement currently provides additional space below the main living areas and includes the home’s laundry location according to the listing information.

Basements can be particularly useful in older Cleveland properties because they can provide storage, mechanical space, laundry facilities, and potential utility improvements.

However, basement conditions can vary considerably from property to property.

A prospective buyer should investigate moisture, drainage, foundation walls, plumbing, electrical systems, ceiling height, ventilation, and any signs of water intrusion.

The basement should not automatically be considered finished living space unless it meets applicable requirements.

Exterior With Aluminum and Vinyl Siding

The property features aluminum and vinyl siding.

Exterior siding can provide a relatively straightforward way to improve the appearance of an older property, but the condition behind the siding is also important.

During renovation, buyers may want to examine areas around windows, doors, rooflines, corners, and the foundation for signs of moisture or deterioration.

Because the house is more than a century old, exterior maintenance should be evaluated as part of the overall rehabilitation plan.

Asphalt Driveway

The property also includes an asphalt driveway.

Although relatively simple compared with major structural components, a usable driveway adds practical value to a single-family property.

The condition of the driveway should be evaluated along with drainage, grading, access, and its connection to the surrounding property.

For a renovated rental or owner-occupied home, convenient off-street parking can be an important practical feature.

3,676-Square-Foot Lot

The property sits on a lot measuring approximately 3,676 square feet.

This is a manageable urban residential lot that provides space around the home while avoiding the extensive maintenance associated with a much larger property.

Depending on local regulations and the property’s exact configuration, the outdoor area could potentially support landscaping, a small patio, recreation space, or other residential improvements.

Any plans for additions, garages, fencing, or other structures should be verified with the appropriate local authorities before assuming they are permitted.

Public Water and Sewer

According to the listing, the property is connected to public water and public sewer.

These utilities can simplify ownership compared with properties dependent on private wells and septic systems.

However, the condition and functionality of the existing plumbing infrastructure should still be investigated.

Older homes can have a mixture of original and updated plumbing components, and a buyer should determine what work may be necessary before finalizing a renovation budget.

Forced-Air Heating

The property is listed with forced-air heating.

The condition and operating status of the heating system should be verified during due diligence.

A home built in 1900 may have experienced multiple mechanical upgrades throughout its history, so the current age, efficiency, service history, and remaining useful life of the system are important questions for a prospective buyer.

If the property has been vacant or poorly maintained, mechanical systems should receive particular attention before occupancy.

A Property Built in 1900

The home’s age is one of its defining characteristics.

Built in 1900, the property belongs to a much older generation of Cleveland housing stock.

Historic homes can have architectural appeal and durable construction, but they can also contain outdated building systems and materials.

A comprehensive inspection should therefore consider the foundation, framing, roof, electrical system, plumbing, heating, windows, insulation, exterior, and other major components.

For an investor, understanding the home’s existing condition is essential before estimating the potential return on renovation.

The BRRRR Strategy Mentioned in the Listing

The listing specifically describes the property as a potential BRRRR opportunity.

BRRRR generally refers to a strategy involving buying a property, renovating it, renting it, refinancing it, and potentially using the recovered capital for another investment.

The listing indicates that the property could potentially be repositioned as an income-producing rental after renovation.

However, the success of such a strategy depends on numerous factors, including the actual renovation cost, finished property value, financing terms, achievable rent, operating expenses, insurance, taxes, vacancy, maintenance, and local rental-market conditions.

The listing’s description should therefore be viewed as the seller’s marketing position rather than a guarantee of investment performance.

Estimated Market Rent of $1,100 Per Month

The listing states that the property could potentially achieve approximately $1,100 per month in market rent once renovated and rent-ready.

This figure is an estimate provided in the listing and should be independently verified.

Rental values can vary according to neighborhood, property condition, bedroom configuration, amenities, competition, tenant demand, and broader market conditions.

An investor considering this property should research comparable rentals and determine realistic gross rental income before calculating potential cash flow.

It is also important to account for expenses such as property taxes, insurance, repairs, maintenance, utilities paid by the owner, vacancy, property management, and financing.

Potential as a Rental Property

The two-bedroom configuration could make the property suitable for an affordable rental strategy after rehabilitation.

The full basement, traditional layout, driveway, public utilities, and manageable lot all contribute to its basic residential functionality.

However, the property’s rental potential ultimately depends on the quality and scope of the renovation.

A successful renovation would need to address safety and habitability concerns while creating a clean, functional, and durable home.

The final rental value should be based on comparable properties in the relevant Cleveland market rather than solely on the estimate provided in the listing.

Location in Cleveland

One of the property’s other advantages is its location within Cleveland.

The listing highlights access to I-77 and I-490, providing connections to surrounding neighborhoods and employment areas.

The property is also described as being near shopping, restaurants, schools, parks, public transportation, and other everyday services.

Convenient transportation access can be particularly important for rental properties because tenants often prioritize proximity to employment, schools, shopping, and public transit.

Prospective buyers should nevertheless evaluate the immediate neighborhood in person and research current local conditions before purchasing.

Proximity to Everyday Amenities

The listing notes that the property is located near a range of everyday amenities.

These include shopping, restaurants, schools, parks, medical facilities, transportation options, and major roads.

For an owner-occupant, this can contribute to daily convenience.

For an investor, nearby amenities may also influence tenant demand.

However, proximity alone does not determine the quality or performance of a rental investment. Buyers should examine the immediate surroundings, comparable properties, local rental rates, vacancy levels, and neighborhood trends.

Investment Potential Requires Careful Budgeting

The biggest attraction of a property listed for $20,000 is naturally the low acquisition price.

But the purchase price is only the beginning.

For a full-rehabilitation property, buyers should develop a detailed budget that may include:

• Roof repairs
• Structural repairs
• Water-damage remediation
• Electrical upgrades
• Plumbing work
• Heating repairs or replacement
• Kitchen renovation
• Bathroom renovation
• Flooring
• Interior painting
• Windows and doors
• Exterior repairs
• Basement improvements
• Landscaping
• Permit fees
• Contractor costs
• Debris removal
• Insurance
• Property taxes
• Financing expenses
• Contingency reserves

A contingency reserve is particularly important for an older home because unexpected conditions can become apparent after walls, ceilings, flooring, or exterior materials are removed.

Due Diligence Is Especially Important

Because the property is being marketed as a complete renovation project, due diligence should be treated as a critical part of the purchasing process.

A professional home inspection can provide valuable information about the structure and major systems.

Depending on what the inspection reveals, buyers may also want specialized evaluations of the roof, foundation, electrical system, plumbing, heating equipment, and potential water damage.

Because of the reported roof opening, determining whether moisture has affected the kitchen bump-out and surrounding structure should be a priority.

The buyer should also verify property taxes, title information, zoning, utility status, permits, and any outstanding obligations before closing.

What Could Make This Property Interesting?

The combination of a low asking price, established residential structure, full basement, public utilities, driveway, and Cleveland location gives the property several characteristics that may attract renovation-minded buyers.

The existing two-bedroom layout means the project does not require creating an entirely new residential configuration.

Instead, the primary challenge is bringing the existing structure back into functional and marketable condition.

For an experienced contractor or investor, this type of property can offer a clear renovation project with a defined starting point.

The important question is not simply whether the property is inexpensive, but whether the total acquisition and rehabilitation cost makes sense relative to the property’s eventual use and value.

A Potential Opportunity for Experienced Investors

The listing appears particularly targeted toward investors, contractors, and buyers familiar with major renovations.

The seller specifically states that the property is being offered as a full-rehabilitation opportunity and does not offer seller financing.

The listing also indicates that low-ball offers and wholesale transactions are not being considered.

This means prospective buyers should approach the property with realistic expectations and a clearly defined financing and renovation strategy.

Cash availability may be particularly relevant given the property’s current condition and the listing’s stated terms.

Could It Work as an Owner-Occupied Home?

Although the listing emphasizes investment potential, an owner-occupant could theoretically consider the property after a complete renovation.

The two-bedroom layout, traditional living spaces, kitchen, dining area, full basement, and private lot provide the basic framework of a conventional single-family residence.

However, the current condition means it is not presented as a move-in-ready home.

Anyone considering living in the property would need to be prepared for a substantial rehabilitation process before the house could function as a comfortable residence.

The Importance of the $20,000 Price

At $20,000, the property is priced at approximately $16 per square foot based on the listing’s stated 1,280 square feet.

That figure should not be interpreted as the property’s true completed value.

The low price reflects the property’s current condition and rehabilitation requirements.

For renovation properties, price per square foot at acquisition can be less meaningful than the relationship between total project cost and the expected value or income after renovation.

This is why investors typically need to evaluate the purchase price, renovation budget, carrying costs, and potential finished value together.

Final Thoughts

The 7107 Ivy Ave property in Cleveland, Ohio is a classic example of a low-cost residential renovation opportunity.

Listed at $20,000, this approximately 1,280-square-foot colonial was built in 1900 and contains two bedrooms and one full bathroom.

The property features a traditional living room, kitchen with adjoining dining area, full basement, forced-air heating, aluminum and vinyl siding, asphalt driveway, public water, and public sewer.

The listing openly describes the home as requiring a complete renovation, with a particularly important issue involving a significant opening in the roof above the rear kitchen bump-out.

That condition makes professional inspection and careful budgeting essential.

For an experienced investor, the property may provide an opportunity to acquire an older Cleveland home at a relatively low entry price and undertake a substantial rehabilitation project.

The listing also identifies an estimated post-renovation market rent of approximately $1,100 per month, although that figure should be independently verified through current rental comparisons and a complete investment analysis.

The home’s location near major roads including I-77 and I-490, combined with access to shopping, schools, parks, restaurants, transportation, and other amenities, adds another dimension to the opportunity.

Ultimately, this is not a property for someone looking for an inexpensive move-in-ready home.

It is a full fixer-upper requiring substantial work.

The property’s potential will depend heavily on the actual structural and mechanical condition, the cost of repairs, the final renovation quality, local market conditions, and the buyer’s ability to manage the project efficiently.

For buyers who understand renovation projects and are prepared to perform extensive due diligence, however, 7107 Ivy Ave represents an interesting example of the type of low-priced Cleveland property that can attract attention from the rehabilitation and rental-investment market.

Before purchasing, prospective buyers should independently verify the property’s condition, renovation requirements, utility status, taxes, zoning, comparable property values, rental estimates, and all other relevant financial and legal details.

 

From Zillow