This fantastic four bedroom house is in a great location in Lee Miles. The property is only five minutes to John F Kennedy High School, which is one of the best high schools in Cleveland, it is also close to the the Lee Harvard Plaza. There are four bedrooms, one and a half bathrooms, a full basement and a large garden. The property has just been refurbished throughout and comes with brand new tenants paying $750 in rent each month. This property is under management by a great local company Cleveland management company.
Lee Miles is a very well kept busy area in the City of Cleveland, less five minutes away you will find the Lee Harvard Plaza which contains many of leading fast food chains. This area is surrounded by some of the very best neighbourhoods in Cleveland including Shaker Heights and Maple Heights.
Purchase price: 34,900
Gross annual rental income: $9,000
Property running costs: $2,200
(Tax, insurance and management costs)
Net annual rental income: $6,800
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%