Three bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 3 Bed Townhouse £29,384 | €32,724 | $39,900 Request a Currency Exchange Quote Here

This large three bedroom house is a rare find at $39,900..

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Property Attributes

Building Characteristics

Terraced

Property Features

Garden, On Street Parking, Outside Space
Property Description ID:41600288

This fantastic three bedroom townhouse is located in Fairfax, just a 15 minute walk
from the world famous Cleveland Clinic, it is also only 2.3 miles from Shaker Square
which is full of restaurants, bars, boutiques and even has a cinema.
The property is in good condition and consists of three large bedrooms, one
bathroom, and a large lounge/diner. The house has a tenant in place that pays $650
in rent each month. The location of this property is becoming increasingly popular for
Air B&B rentals due to the proximity of The Cleveland Clinic main campus. Dr’s,
Nurses and medical students are always looking for secure accommodation close to
the Clinic. Should the new owner wish to manage such a venture the property could
produce a much higher ROI and income while also gaining in value.

Fairfax is viewed as a very well located in Cleveland Ohio, it is just 4 miles from
Downtown and 1.6 miles from University Circle. The University Circle has the highest
concentration of cultural attractions and performing arts venues in the whole of the
US.

 

Investment Calculation

Purchase price: 39,900

Gross annual rental income: $7,800

Property running costs: $1,896
(Tax, insurance and management costs)

Net annual rental income: $5,904

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 16%

Break even in 6.25 Years
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