This three bedroom house is in a great location in Lee Miles. The property is only one mile to John F Kennedy High School, which is one of the best high schools in Cleveland, it is also just six minutes from the Lee Harvard Plaza & shopping centre. There are three bedrooms, a full basement, a kitchen/diner and a large garden. This property has great tenants in place paying $650 a month, it is also under management by a great local company.
Lee Miles is a very well kept busy area in the City of Cleveland, less than a two minute walk away you will find the Lee Harvard Plaza which contains many of leading fast food chains. This area is surrounded by some of the very best neighbourhoods in Cleveland including Shaker Heights and Maple Heights.
Purchase price: 31,900
Gross annual rental income: $7,800
Property running costs: $1,790
(Tax, insurance and management costs)
Net annual rental income: $6,010
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%