This lovely four bedroom single family home is located on a nice street in Corlett and is just 1.5 miles and four minutes from John Adams College, one of the leading schools in Cleveland. There are four large bedrooms, two full bathrooms a full basement and a large rear garden. The property has just been updated and made rental ready to a Section 8 standard. The management company already has an application for a Section 8 tenant in progress and the tenant will be moving in shortly paying $1,050 in rent each month.

Corlett is viewed as a very central location in Cleveland Ohio, it is just 8.4 miles from Downtown and 5.7 miles from University Circle. Also just 1.9 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..

Investment Calculation

Purchase price: 59,900

Gross annual rental income: $12,600

Property running costs: $1,990
(Tax, insurance and management costs)

Net annual rental income: $10,610

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

Return on investment: 18%

Break even in 5.5 Years