Three bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 3 Bed Townhouse £41,167 | €45,846 | $55,900 Request a Currency Exchange Quote Here

This large three bedroom house is a rare find at $55,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41622712

This fantastic three bedroom single family home is located in the highly sought after area
of North Collingwood just 2 miles to the famous Euclid Beach Park.
There are three large bedrooms, a full basement, a detached garage and a large rear
garden. This property is in a good condition and has tenants already in place paying
$750 in rent each month.
The average rent for this property in this location is closer to $900 – $950 each month so
should then tenant leave the rent could easily be increased. The house is under
management with a great local Cleveland management company

North-Collinwood is seen as a very strong investment area in Cleveland, the city is
investing millions into a neighbourhood makeover. Also Alan Glazen a retired advertising
executive is the driving force behind Project Light Switch. Alan wishes to turn North
Collinwood into Cleveland’s premier music and entertainment district with concert
venues, music stores, restaurants, bars, a bocce court and, hopefully, boutique hotels.
The potential for capital growth in the coming years for North Collinwood is very high.

Investment Calculation

Purchase price: 55,900

Gross annual rental income: $9,000

Property running costs: $2,022
(Tax, insurance and management costs)

Net annual rental income: $6,978

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

Return on investment: 13%

Break even in 7.69 Years
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