This large three bedroom house is located on a nice street in the sought after area of Glenville, just two minutes from Glenville High School, which is one of the best schools in Cleveland. The property has three large bedrooms, one bathroom and a full basement, the tenants are keeping the property in great condition. This property is under management by one of the leading Cleveland property management companies.
Glenville is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines, bike trails, and allows access to the beach parks in the neighborhoods on the Northside. It is also just 4.8 miles from Downtown and 2.4 miles from the University Circle.
Purchase price: 33,900
Gross annual rental income: $9,000
Property running costs: $1,870
(Tax, insurance and management costs)
Net annual rental income: $7,130
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%