Four bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 4 Bed Townhouse £42,640 | €47,486 | $57,900 Request a Currency Exchange Quote Here

This huge four bedroom house is amazing value at $57,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41624098

This fantastic four bedroom single family home is located on a nice street in Forest
Hills close to the shores of Lake Erie and is only a few minutes walk from Glenville
High School,
The property has four bedrooms, one and a half bathrooms, a full basement and a
large rear garden. The property has recently been completely refurbished and is in
great condition. The house currently has good tenants in place paying $850 in rent
each month. Four bedroom detached houses in this location can reach up to $1,200
in rent so showed the tenant leave the rent could easily be increased.
The house is under management with a great local Cleveland management 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 right behind Glenville High School in a location
with increasing new build properties.

 

Investment Calculation

Purchase price: 57,900

Gross annual rental income: $10,200

Property running costs: $2,486
(Tax, insurance and management costs)

Net annual rental income: $7,714

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

Return on investment: 14%

Break even in 7.14 Years
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