This great four bedroom single family home is located on a nice street in Corlett and is less than one mile and just a three minute walk to John Adams College, one of the leading schools in Cleveland. There are four bedrooms, one bathroom, a full basement and a large rear garden with a detached garage. The property has tenants in place that are paying $750 in rent each month This property is under management by a great local company.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 6.6 miles from Downtown and 4.5 miles from University Circle. Also just 2 miles away you have Lee Harvard shopping centre. The property is also just walking distance to John Adams College, one of the best schools in Cleveland..
Purchase price: 36,900
Gross annual rental income: $9,000
Property running costs: $2,060
(Tax, insurance and management costs)
Net annual rental income: $6,940
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%