Four bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 4 Bed Townhouse £47,795 | €53,227 | $64,900 Request a Currency Exchange Quote Here

This huge four bedroom house is a rare find at $64,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41598221

This large two apartment multi family home is located on a nice street in Forest Hills
close to the shores of Lake Erie and is only a four minute drive from Glenville 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. Both
apartments have tenants in place and both tenants are paying $700 in rent each
month.
The property is under management by a great local company.

Forest Hills is seen as a very strong investment area in Cleveland, it is close to the
Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for
bus lines and bike trails. The house is just 2.3 miles to the Famous Shoreby Club
and the neighbouring community Bratenahl. Bratenahl one of the most exclusive
residential areas in Cleveland where properties can sell in the Millions.

Investment Calculation

Purchase price: 64,900

Gross annual rental income: $16,800

Property running costs: $3,584
(Tax, insurance and management costs)

Net annual rental income: $13,216

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

Return on investment: 21%

Break even in 4.76 Years
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