Three bedroom house, City of Cleveland, USA

This very nice three bedroom single family home is located on a nice street in
Corlett and is just half a mile and a short walk to John Adams College, one of
the leading schools in Cleveland.
The property consists of three spacious bedrooms, one bathrooms, a large
lounge diner, a full basement and a large rear garden. The property already
has a tenant in place paying $800 in rent each month. Rents for three bedroom
detached homes in Corlett reach up to $1,200 each month so should the
tenant leave the rent could be increased.

Corlett is viewed as a very central location in Cleveland Ohio, it is just 8 miles
from Downtown and 4.6 miles from University Circle. Also just 2 miles away you
have Lee Harvard shopping centre. The property is also just half a mile and
walking distance to John Adams College, one of the best schools in
Cleveland..

Investment Calculation

Purchase price: $55,900

Gross annual rental income: $9,600

Property running costs: $2,284
(Tax, insurance and management costs)

Net annual rental income: $7,316

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

Return on investment: 13%