Four bedroom house, City of Cleveland, USA

This fantastic large multi-family home is located in Buckeye Shaker and is only four
minutes and walking distance from the centre of 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. Both apartments are
currently being updated and made rental ready to a good standard and will be
completed in the next 10-12 weeks. The management company will place brand new
tenants when the new owner closes on the property paying $750 in rent each month for
each apartment.

Buckeye Shaker is seen as a very strong investment area in Cleveland, less than 1 mile
away you have the famous Shaker Square. The house is also just 5 minutes to
Larchmere Blvd which is host to a multitude of many quality cafe’s, restaurants, beauty
salons, fashion shops and many small businesses. This house is extremely well located.

Investment Calculation

Purchase price: $77,900

Gross annual rental income: $18,000

Property running costs: $3,170
(Tax, insurance and management costs)

Net annual rental income: $14,830

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

Return on investment: 19%