This fantastic three bedroom 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
only a short walk to Collingwood High School, one of the best schools in Cleveland.
The property has three spacious bedrooms, one bathroom, a large lounge diner, a full
basement, a large rear garden and a detached double garage. The property has just
been refurbished inside to a good Section 8 standard. The management company will
place brand new tenants when the new owner closes on the property. The tenants can
either be private or Section 8. The decision will be for the new owner. The rent will
achieve $1,050 – $1,150 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 just 0.5 miles and walking distance to
Collinwood High School one of the best schools in Cleveland. This is one of our most
demanded areas by investors.
Purchase price: 64,900
Gross annual rental income: $13,800
Property running costs: $2,620
(Tax, insurance and management costs)
Net annual rental income: $11,180
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%Break even in 5.5 Years