Four bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41654314
Summary Data
| Price | £59,361 |
| Price Type | |
| Bedrooms | 4 - Bed |
| Bathrooms | 2 - Bath |
| Plot Size | |
| Building Size |
| Sector | Residential |
| Type | Houses |
| Subtype | |
| Tenure | |
| Completion | |
| Parking |
Location Map
Property Description
This large multi-family home is located in Mount Pleasant and is right next to Shaker
Heights. The house is also just 1.6 miles from the famous Shaker Heights High School.
Shaker Heights is one of the most demanded and prestigious areas in Cleveland.
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
recently been updated throughout and the pictures supplied were from the inspection
report. The house now has tenants in place in both apartments. The downstairs tenants
is paying $790 each month and the upstairs apartment is paying $710 in rent each
month.
The property is under management with a great local Cleveland management company.
Mount Pleasant is seen as a very strong investment area in Cleveland, just 2 miles away
you Shaker Square which is one of the biggest attractions in Cleveland. The house is
also just bordering on the famous Shaker Heights, one of the most desirable areas in
Cleveland. The house is just 1.5 miles from Shaker Heights High School.
Investment Calculation
Purchase price: $69,900
Gross annual rental income: $18,000
Property running costs: $4,100
(Tax, insurance and management costs)
Net annual rental income: $13,900
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%
Break even in 5 Years