This lovely three bedroom single family home is located on a nice street in Corlett
and is just one mile and just three minutes from John Adams College, one of the
leading schools in Cleveland.
There are three bedrooms, one bathroom, a full basement and a large rear
garden with a detached garage. The property has had a new hot water tank and
furnace only installed a year ago and the house has also had a brand new roof,
new siding and interior paint throughout. There are also tenants in place paying
$800 each month in rent.
This property is under management by a great local company.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7.2 miles
from Downtown and 5.1 miles from University Circle. Also just 1.5 miles away you
have Lee Harvard shopping centre. The property is also just walking distance to
John Adams College, one of the best schools in Cleveland..
Purchase price: 54,900
Gross annual rental income: $9,600
Property running costs: $2,342
(Tax, insurance and management costs)
Net annual rental income: $7,258
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 14%Break even in 7.14 Years