Four bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 4 Bed Townhouse £42,368 | €46,396 | $54,900 Request a Currency Exchange Quote Here

This is a large four bedroom house at only $54,900...

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking
Property Description ID:39954471

This large multi-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 four minutes from Collingwood High School, one of the best schools in Cleveland. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs, One apartment is currently tenant occupied and they are paying $600 in rent each month. The second apartment is just finishing being updated and made rental ready and the management company will be placing brand new tenants when the new owner closes on the property paying $550 – $600 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 five minutes from the Lakeshore and four minutes from Collingwood High School, one of the best schools in Cleveland. North and South Collinwood are one of our most demanded areas by investors

 

Investment Details

 

Purchase price: 54,900

Gross annual rental income: $14,400

Property running costs: $3,053
(Tax, insurance and management costs)

Net annual rental income: $11,347

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

Return on investment: 21%

Break even in 4.76

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