This large two bedroom single family home is located in Euclid right next to South Collinwood, just a short distance from the Lakefront. It is also just 1 mile and just three minutes from the new Amazon Fulfilment plant in Euclid. The property has 2 large bedrooms, a large lounge diner, a full basement, a very large rear garden with a detached garage. There are tenants in place keeping the property in great condition paying $800 in rent each Month. The property is under management by a great local Cleveland management company.
Euclid 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 South Collinwood. The is just 1 mile and just three minutes from the new Amazon Fulfilment plant in Euclid. The property is also just 2 miles and just six minutes from Euclid high school. This area is expected to receive good capital appreciation in the coming years.
Purchase price: 55,900
Gross annual rental income: $9,600
Property running costs: $3,460
(Tax, insurance and management costs)
Net annual rental income: $6140
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 12%