Four bedroom house, Cleveland, USA

This fantastic four bedroom house is located on a nice street in Stockyards on the Westside of
Cleveland, the house is only two miles from Cleveland Metroparks Zoo and food court which is
a lovely family area of Cleveland.
The property is divided into two very large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. Both apartments have
tenants in place. The total monthly rental income is $1,010 each month. The rents are under
market value so should either tenant leave the rent could be increased.
The house is under management with a great local Cleveland property management company.

Stockyards is located on the Westside and viewed as a very central location in Cleveland
Ohio, it is just 4.8 miles from Downtown Cleveland and only 1.2 miles from Detroit Shoreway
which is one of the best areas in Cleveland. The property is also only just 2.7 miles from the
Metro Health centres main campus. A $946 million transformation plan of an 11-story 264-bed
hospital on its main campus on West 25th Street in Cleveland. A huge project that is
transforming the area.

Investment Calculation

Purchase price: 64,900

Gross annual rental income: $12,120

Property running costs: $3,112
(Tax, insurance and management costs)

Net annual rental income: $9,008

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

Return on investment: 14%