Four bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 4 Bed Townhouse £55,160 | €61,429 | $74,900 Request a Currency Exchange Quote Here

This large four bedroom multi unit is amazing value at $74,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41621549

This fantastic two apartment 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
less than 1 mile to 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, The property has
recently been updated throughout and made rental ready.
One apartment is now occupied and the tenants are paying $650 in rent each month.
The management company will place a brand new tenant in the second apartment
paying $700 in rent each month when the new owner closes on the property.

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 less than 1 mile to Collinwood High
School one of the best schools in Cleveland. This is one of our most demanded areas
by investors.

 

Investment Calculation

Purchase price: 74,900

Gross annual rental income: $16,200

Property running costs: $3,100
(Tax, insurance and management costs)

Net annual rental income: $13,100

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

Return on investment: 18%

Break even in 5.5 Years
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