This large multi-family house is located on a nice street in Mount Pleasant and is
only 2.9 miles from the famous Shaker Heights High School. Shaker Heights is one
of the most demanded and prestigious areas in Cleveland.
The property is divided into three large apartments, you have two large two
bedroom apartments and a large one bedroom apartment in the attic.
The management company will place brand new tenants into each apartment after
the closing. The two bed apartments will rent between $550-$650 per month and
the one bed attic apartment will rent between $500-$550 per month.
Mount Pleasant is seen as a very strong investment area in Cleveland, just 1.7
miles away you Shaker Square which is one of the biggest attractions in Cleveland.
The house is also close to the famous Shaker Heights, one of the most desirable
areas in Cleveland. The house is just 2.9 miles from Shaker Heights High School.
Purchase price: 83,900
Gross annual rental income: $22,200
Property running costs: $3,673
(Tax, insurance and management costs)
Net annual rental income: $18,529
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 22%Break even in 4.54 Years