Four bedroom house, City of Cleveland, USA

City of Cleveland, Cuyahoga County, Ohio, USA

Property ID: 41692024

Summary Data

Price £63,607
Price Type
Bedrooms 4 - Bed
Bathrooms 2 - Bath
Plot Size
Building Size
Sector Residential
Type Houses
Subtype
Tenure
Completion
Parking

Location Map

Property Description

This large two apartment multi-family home is located in North Collinwood next to The
Waterloo Art District and right next to the Lakefront and close to the new Amazon
facility. The Waterloo District is known as a bustling area with art studios,
entertainment, restaurants, bars and retail, it is the place to go out on the Eastside of
Cleveland.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. The property has
tenants in place in each apartment paying $575 in rent each month. The current
market rent is closer to $750 – $800 for each apartment so should either tenant leave
the rent could be increased.

The Waterloo Arts District is a funky, indie community, with lots of cool little galleries
and studios. You can hear live music at one of the best venues in the country or
browse an awesome indie music store. The coffee shops roasts all their own beans,
and there are plenty of great places to eat within a five-minute drive.Just ten minutes
to downtown Cleveland, the Lakefront is also just five minutes away.

Investment Calculations
Purchase price
$74,900
Gross annual rental income:
$13,800
Property running costs:(Tax, insurance and management costs)
$3,076
Net annual rental income:
$10,724
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

15%

Break even in

6.6 Years

No investment data available