Four bedroom house, Cleveland, USA

This lovely four bedroom house is located on a nice street in Broadway/Slavic Village which
is just 4.3 miles from Downtown Cleveland. This property is also less than half a mile from the
centre of Slavic Village and also right opposite Cleveland Central Catholic High School.
The property is very spacious with 4 large bedrooms, one bathroom, a full basement and a
large rear garden. The house is currently being updated and made rental ready, there are
just a few small cosmetic repairs that will be completed after the new owner closes on the
property and are included in the price. The management company will then place a brand
new tenant. The current market rent for four bed singles in Slavic village is $1,200 – $1,300
each month.

Broadway/Slavic Village is viewed as a very central location in Cleveland Ohio, it is just 4.3
miles from Downtown and 5.1 miles from University Circle. The property is also just less than
half a mile from the centre of Slavic Village which is going through large development
projects. This is one of the most up and coming areas in the City and in huge demand by
investors.

Investment Calculation

Purchase price: 74,900

Gross annual rental income: $15,600

Property running costs: $3,300
(Tax, insurance and management costs)

Net annual rental income: $12,300

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

Return on investment: 17%