This large two bedroom house is located on a very nice street in South-Collinwood, it is just five minutes from the Lakeshore and five minutes from Collingwood High School, one of the best schools in Cleveland. There are two large bedrooms, a full basement and a large rear garden. This property comes with a great tenant in place who has been living in the property for over three years now. This property is under management by a great local company.
South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, this property is only 6.9 miles from Downtown.
Purchase price: 29,900
Gross annual rental income: $7,800
Property running costs: $1,950
(Tax, insurance and management costs)
Net annual rental income: $5,850
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%