Three bedroom house, City of Cleveland, USA

This fantastic three bedroom house is in a great location in Lee Miles. The property
is only a two minutes to John F Kennedy High School, which is one of the best high
schools in Cleveland, it is also only 3 minutes from the the Lee Harvard Plaza.
There are three spacious bedrooms, a full basement and a large garden. The
property has great tenants in place treating it as their own and keeping it in great
condition. The tenants are paying $1,000 a month in rent. The current market rent is
closer to $1,250 – $1,300 so should the tenant leave in the future the rent could be
increased. The property is under management with a great local Cleveland property
management company.

Lee Miles is a very well kept busy area in the City of Cleveland, less than one mile
away you will find the Lee Harvard Plaza which contains many of leading fast food
chains. This area is surrounded by some of the very best neighbourhoods in
Cleveland including Shaker Heights and Maple Heights.

Investment Calculation

Purchase price: $57,900

Gross annual rental income: $12,000

Property running costs: $2,800
(Tax, insurance and management costs)

Net annual rental income: $9,200

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

Return on investment: 16%