Four bedroom house, City of Cleveland, USA

City of Cleveland, Cuyahoga County, Ohio, USA

Property ID: 41692966

Summary Data

Price £61,908
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 Hough, close to the shores of
Lake Erie. Hough is a very demanded area in Cleveland due to its close proximity to
the University Circle, the entrance is just two miles away.
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
long term tenant in place in both apartments each paying $625 each month in rent.
The current market rent is $750 so should either tenant leave the rent could be
increased. The property is under management with a great local Cleveland property
management company.

Hough is seen as a very strong investment area in Cleveland, it is close to the
Waterloo District, Euclid, Bratenahl and the I90 (highway It is also just 2 miles from
the University Circle. The University Circle has the highest concentration of cultural
attractions and performing arts venues in the whole of the US, such as the Cleveland
Museum of Art; Severance Hall, Cleveland Institute of Art, plus many more.

 

Investment Calculations
Purchase price
$72,900
Gross annual rental income:
$15,000
Property running costs:(Tax, insurance and management costs)
$2,808
Net annual rental income:
$12,192
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

17%

Break even in

6.6 Years

No investment data available