Three bedroom house, City of Cleveland, USA

This large three bedroom house is located on a nice street in Union – Miles Park
which is a great neighbourhood in Cleveland, this area is close to Mount Pleasant
and Slavic Village. It is also just three minutes and a short walk from John Adams
College And Career Academy, which is one of the best schools in Cleveland.
There are three spacious bedrooms, one bathroom a full basement a detached
garage and a large rear garden. There are also tenants in place paying $950 rent
a month. This property is under management by a local Cleveland property
management company.

Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just
7.6 miles from Downtown and 4.4 miles from University Circle. University Circle
has the highest concentration of cultural attractions and performing arts venues in
the whole of the US. The house is also just a short walk to John Adams College
And Career Academy, which is one of the best schools in Cleveland.

Investment Calculation

Purchase price: $54,900

Gross annual rental income: $11,400

Property running costs: $2,549
(Tax, insurance and management costs)

Net annual rental income: $8,851

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

Return on investment: 17%