Four bedroom house, City of Cleveland, USA

This fantastic large four bedroom house is located on a nice street in Union – Miles Park
which is a great neighbourhood in Cleveland, this area is close to Mount Pleasant and
Slavic Village. It is also just a few minutes from John Adams College And Career
Academy, which is one of the best schools in Cleveland.
There are four large bedrooms, two bathrooms a full basement and a large rear garden.
There are long term tenants in place that have resided in the house for 21 years paying
$815 rent a month. Large four bedroom detached homes in this area reach up to $1,200
each month so the rent has the potential to be increased in the future. The property is
under management by a local Cleveland property management company.

Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 6 miles
from Downtown and 4 miles from University Circle. University Circle has the highest
concentration of cultural attractions and performing arts venues in the whole of the US.
The house is also just a short walk to John Adams College And Career Academy, which is
one of the best schools in Cleveland.

Investment Calculation

Purchase price: 51,900

Gross annual rental income: $9,780

Property running costs: $2,278
(Tax, insurance and management costs)

Net annual rental income: $7,502

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

Return on investment: 15%