This fantastic four bedroom Condo townhouse is located in the very well respected area of Warrensville Heights, just one mile from Highland Hills one of Clevelands premier suburbs. The property has four large bedrooms, one and a half bathrooms and has good paying tenants in place paying $1,050 rent per month. This property is under management by a great local Cleveland property management company.
Warrensville Heights is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like Highland Hills and Maple Heights. The property is just 11.7 Miles from Downtown Cleveland and only 1 mile from Highland Hills. the Village of Highland Hills has become one of Greater Cleveland’s premiere suburbs. Located near Interstate 271, the Village is home to major corporations.
Purchase price: 45,900
Gross annual rental income: $12,600
Property running costs: $4,840
(Tax, insurance and management costs)
Net annual rental income: $7,760
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%