Three bedroom house, City of Cleveland, USA

City of Cleveland, Cuyahoga County, Ohio, USA

Property ID: 41696138

Summary Data

Price £63,607
Price Type
Bedrooms 3 - Bed
Bathrooms 1 - Bath
Plot Size
Building Size
Sector Residential
Type Houses
Subtype
Tenure
Completion
Parking

Location Map

Property Description

This fantastic three bedroom house is located on a nice street in Garfield Heights
which is a great neighbourhood in Cleveland, this area is close to Lee Miles and
the property is just a few minutes and just 2 miles from Garfield Park reservation.
There are three large bedrooms, a full basement, a detached garage and a large
rear garden. The property is in a good condition and has a tenant in place paying
$1,000 in rent each month. The market rent its currently closer to $1,250 – $1,300
for this property so should the tenant leave in the future the rent could be
increased. The house is under management with a great local Cleveland property
management company.

Garfield Heights is viewed as a very central location in Cleveland Ohio, it is just 9
miles from Downtown and 6 miles from University Circle which has the highest
concentration of cultural attractions and performing arts venues in the whole of
the US. The property is also just 2.5 miles and 5 minutes from the centre of
Garfield Heights and only 2 miles to Garfield park reservation.

Investment Calculations
Purchase price
$74,900
Gross annual rental income:
$12,000
Property running costs:(Tax, insurance and management costs)
$3,400
Net annual rental income:
$8,600
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

12%

Break even in

8.3 Years.

No investment data available