Three Bedroom House, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41654632
Summary Data
Price | £38,130 |
Price Type | |
Bedrooms | 3 - Bed |
Bathrooms | 1 - Bath |
Plot Size | 1140m2 |
Building Size |
Sector | Residential |
Type | Houses |
Subtype | |
Tenure | |
Completion | |
Parking |
Location Map
Property Description
This nice three bedroom single family home is located on a very nice street located in
Woodland Hills just 1.7 miles from the world famous Cleveland Clinic, it is also only 1.2
miles from Shaker Square which is full of restaurants, bars, boutiques and even has a
cinema.
The property is in a good condition and comes with three large bedrooms, one
bathroom, a full basement and a rear garden. The property has a tenant in place
paying $600 in rent each month. The rent is under market value, currently single family
detached homes reach up to $1,200 each month so should the tenant leave in the
future the rent could be increased.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 6 miles
from Downtown Cleveland, just 2 miles from the University Circle & only 1.2 miles from
Shaker square. There are many new built homes being built in this area, increasing the
value or surrounding properties with a good potential for capital appreciation. New
builds are selling for over $300,000
Investment Calculation
Purchase price: $44,900
Gross annual rental income: $7,200
Property running costs: $1,797
(Tax, insurance and management costs)
Net annual rental income: $5,403
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 12%
Break even in 8.33 Years