This very nice three bedroom family home is located on a nice street in Woodland Hills less than seven minutes from the famous Shaker Square, which is one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. The property is also Section 8 tenanted, the current tenants are keeping there property in great condition the rent is paid by the US Government. This property is managed by one of the leading Cleveland property management companies.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 4.8 miles from Downtown Cleveland, just 3.2 miles from the University Circle & only 2.2 miles from Shaker square. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: 38,900
Gross annual rental income: $9,600
Property running costs: $1,994
(Tax, insurance and management costs)
Net annual rental income: $7,606
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%