Four bedroom house, City of Cleveland, USA

City of Cleveland, Cuyahoga County, Ohio, USA

Property ID: 41703697

Summary Data

Price £114,560
Price Type
Bedrooms 4 - Bed
Bathrooms 2 - Bath
Plot Size
Building Size
Sector Residential
Type Houses
Subtype
Tenure
Completion
Parking

Location Map

Property Description

This large multi-family home is located on a very nice street in Woodland Hills, just seven minutes
from the famous Shaker Square, one of the biggest attractions in Cleveland. Shaker Square is full of
restaurants, bars, boutiques and even has a cinema.
The property is divided into two large apartments, you have a large two bedroom apartment
downstairs and a large two bedroom apartment upstairs. The house has just been refurbished and
made rental ready and also has just had a new roof. The management company will place brand
new tenants when the new owner closes on the property. The house should achieve $1,100 –
$1,200 in rent each month based on current Section 8 rates. The property is under management
with a great local Cleveland property management company.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 5 miles from
Downtown Cleveland, just 2 miles from the University Circle & only 1 mile from Shaker square.
There are many new built homes being built in this area, increasing the value or surrounding
properties with a good potential for capital appreciation. New builds are selling for over $300,000

Investment Calculations
Purchase price
$134,900
Gross annual rental income:
$28,800
Property running costs:(Tax, insurance and management costs)
$12,660
Net annual rental income:
$16,140
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

37%

Break even in

2.7 Years.

No investment data available