Five bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41654630
Summary Data
Price | £57,662 |
Price Type | |
Bedrooms | 5 - Bed |
Bathrooms | 1 - Bath |
Plot Size | 1680m2 |
Building Size |
Sector | Residential |
Type | Houses |
Subtype | |
Tenure | |
Completion | |
Parking |
Location Map
Property Description
This really nice single large family home is located in Mount Pleasant and is only
eight 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 has five spacious bedrooms, one bathroom, a large lounge diner,
spacious kitchen and a full basement. The house is in a very nice street and has
Section 8 tenants in place paying $1,350 in rent each month. The rent is paid direct
to the owner via the City of Cleveland. The house is under management with a
great local Cleveland property management company.
Mount Pleasant is seen as a very strong investment area in Cleveland, just 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 7.5 miles from Downtown and 4 miles from the
University Circle.
Investment Calculation
Purchase price: $67,900
Gross annual rental income: $16,200
Property running costs: $2,888
(Tax, insurance and management costs)
Net annual rental income: $13,312
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%
Break even in 5 Years