Two bedroom house, City of Cleveland, USA

This very nice two bedroom single family home is located on a nice street in
Corlett and is just 1.6 miles to John Adams College, one of the leading schools in
Cleveland.
The property consists of three spacious bedrooms, two bathrooms, a large lounge
diner, a full basement and a large rear garden. The property already has tenants
in place paying $650 in rent each month. Should the tenant leave in the future the
rent could be increased as single family two bed homes in this location reach up
to $900 each month. The property is under management by a great local
Cleveland property management company. .

Corlett is viewed as a very central location in Cleveland Ohio, it is just 8 miles
from Downtown and 5.5 miles from University Circle. Also just 1 mile away you
have Lee Harvard shopping centre. The property is also just 1.6 miles to John
Adams College, one of the best schools in Cleveland..

Investment Calculation

Purchase price: 39,900

Gross annual rental income: $7,800

Property running costs: $1,880
(Tax, insurance and management costs)

Net annual rental income: $5,920

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

Return on investment: 15%