Five bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
|Bathrooms||3 - Bath|
This large multi-family home is located in Mount Pleasant and is only five minutes from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and is full of restaurants, bars, boutiques and even has a cinema. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large three bedroom apartment upstairs. The property has just been made rental ready. The management company will place brand new tenants when the new owner closes on the property paying $650 – $700 in the two bedroom apartment and $700 – $750 in rent each month in the three bedroom apartment.
Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1.8 miles away you have the famous Shaker Square which is one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. This property is also only 7 miles from Downtown and 4.3 miles from the University Circle.
Purchase price: 69,900
Gross annual rental income: $16,800
Property running costs: $3,580
(Tax, insurance and management costs)
Net annual rental income: $13,220
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years