Fairmeadow Capital

Track Record

3242–3244 W 92nd Street, Cleveland, OH

Front of duplex at 3242–3244 W 92nd Street, Cleveland

Closed April 17, 2025

  • Property Type: Duplex
  • Size: 3 bed / 2 bath per unit, 2,348 sq ft total
  • Neighborhood: West Boulevard
  • Purchase Price: $170,000 with 25% down (conventional financing)
  • Property Management: Urban Progressive Property Management

Strategy

This is our first acquisition at Fairmeadow Capital and serves as a proving ground to gain direct operating experience. The strategy is a long-term hold with light cosmetic rehab and tenant turnover. This includes interior upgrades, deferred maintenance, and systemizing operations for future scale.

Performance

  • Current Rent: $1,200 per unit ($2,400 total)
  • Occupancy: One unit occupied, one under turnover (as of Q2 2025)
  • Cash Flow: TBD — tracking first year for baseline

Key Takeaways

This project laid the foundation for Fairmeadow Capital’s buy-and-hold strategy. It validated our underwriting, lender relationships, and property management system. Lessons learned here will directly inform future acquisitions and investor opportunities.