Four bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
|Bathrooms||2 - Bath|
This large multi-family home is located in Mount Pleasant and is only seven 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 two bedroom apartment upstairs. The property
has good long term tenant in place. The tenant in the downstairs apartment is paying
$500 in rent each month and the tenant in the upper apartment is also paying $500
in rent each month. The property is under management with a great local Cleveland
property management company.
Mount Pleasant is seen as a very strong investment area in Cleveland, less than 2
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 6 miles from Downtown and 4 miles
from the University Circle.
Purchase price: 52,900
Gross annual rental income: $12,000
Property running costs: $3,100
(Tax, insurance and management costs)
Net annual rental income: $8,900
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%Break even in 5.8 Years