This very nice two bedroom house is located on a nice street in Stockyards on the Westside of Cleveland, the house is less than half a mile and a short walk from Thomas Jefferson Elementary, one of the best schools in Cleveland. The property has two large bedrooms a full basement and a large rear garden. The property is just in the last stages of being updated and will be rent ready with the management company placing brand new tenants on closing. This property is under management by a local Cleveland property management company.
Stockyards is located on the Westside and viewed as a very central location in Cleveland Ohio, it is just 4.1 miles from Downtown Cleveland and only 1.1 miles and 4 minutes from Detroit Shoreway which is one of the best areas in Cleveland. The property is also only 2.7 miles from Cleveland Zoo which is a lovely family area of Cleveland.
Purchase price: 39,900
Gross annual rental income: $9,300
Property running costs: $2,105
(Tax, insurance and management costs)
Net annual rental income: $7,195
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%