This large single family home is located on a very nice street in the sought after area of South-Collinwood, it is just five minutes from the Lakeshore and two minutes and less than a mile from Collingwood High School, one of the best schools in Cleveland. The property has three large bedrooms, two bathrooms, a large lounge diner and a full basement. The property has just been refurbished throughout and is like new. The management company will be placing brand new tenants when the new owner closes on the property paying $850 in rent each month.
South-Collinwood 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 Euclid, The property is two minutes and less than a mile from Collingwood High School, one of the best schools in Cleveland. This is one of our most demanded areas by investors.
Purchase price: 44,900
Gross annual rental income: $10,200
Property running costs: $2,520
(Tax, insurance and management costs)
Net annual rental income: $7,680
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%