Six bedroom house, City of Cleveland, USA

This very large two apartment multi family home is located on a nice street in Mount
Pleasant and it is just two blocks from Shaker Heights which is one of the best areas
in Cleveland.
The property is divided into two large apartments, you have a large three bedroom
apartment downstairs and a large three bedroom apartment upstairs.
One apartment is already tenanted at $800 a month and the second apartment has
just been made rental ready, the management company will place a new tenant into
the vacant apartment after the closing, the rent will also be $800 a month.The
property is under management by a great local management company.

Mount Pleasant is seen as a very strong investment area in Cleveland, jute 1 mile
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 6.5 miles from Downtown and 3.8 miles from the
University Circle.

Investment Calculation

Purchase price: $95,000

Gross annual rental income: $19,200

Property running costs: $4,304
(Tax, insurance and management costs)

Net annual rental income: $14,896

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

Return on investment: 16%