Five bedroom house, City of Cleveland, USA

This really nice large single family home is located in Mount Pleasant and is only five
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, two bathrooms, a large lounge diner, spacious
kitchen and a full basement. The house is in a very nice street and has a nice rear
garden with a detached garage. The house has tenants in place paying $700 in rent
each month. Large single family homes in this location now reach over $1,000 in rent
each month so should the tenant leave in the future the rent could be increased. 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 1.2 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 miles from Downtown and 4 miles from the University Circle.

Investment Calculation

Purchase price: $44,900

Gross annual rental income: $8,400

Property running costs: $2,140
(Tax, insurance and management costs)

Net annual rental income: $6,260

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

Return on investment: 14%