Four bedroom house, City of Cleveland, USA

This large two apartment multi family family home is located on a nice street in Clark
Fulton on the Westside of Cleveland, the house is just 1.3 miles and five minutes from
the Metro Health centre main campus.
The property is divided into two large two bedroom apartments,The property has a
good long term tenant in place in one apartment paying $700 in rent each month.
The second apartment has just been vacated and will be supplied by the seller
rental ready. The management company will place brand new tenants when the new
owner closes on the property paying $850 in rent each month.

Clark Fulton is located on the Westside and viewed as a very central location in
Cleveland Ohio, it is just 6 miles from Downtown Cleveland and only 2 miles from
Detroit Shoreway which is one of the best areas in Cleveland. The property is also
only just five minutes from the Metro Health centres main campus. A $946 million
transformation plan of an 11-story 264-bed hospital on its main campus on West 25th
Street in Cleveland. A huge project that is transforming the area.

Investment Calculation

Purchase price: $95,900

Gross annual rental income: $16,600

Property running costs: $4,350
(Tax, insurance and management costs)

Net annual rental income: $12,250

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

Return on investment: 15%