This large three bedroom single family home is located on a very nice street in Woodland Hills just four minutes from the famous Shaker Square, one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. The property has three large bedrooms, one bathroom, a full basement, a large rear garden and a detached garage. The property has just been updated throughout and is in great condition. The management company will be placing brand new tenants when the new owner closes on the property. This property is under management by a great local Cleveland property management company.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 5.2 miles from Downtown Cleveland, just 2 miles from the University Circle & only 1.4 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: 39,900
Gross annual rental income: $9,000
Property running costs: $2,041
(Tax, insurance and management costs)
Net annual rental income: $6,959
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%