Six bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41591491
Summary Data
| Price | £97,661 |
| Price Type | |
| Bedrooms | Studio |
| Bathrooms | 4 - Bath |
| Plot Size | |
| Building Size |
| Sector | Residential |
| Type | Houses |
| Subtype | Townhouse |
| Tenure | |
| Completion | |
| Parking |
Location Map
Property Description
This very large multi-family home is located on a nice street in Broadway/Slavic Village which is just 4.3 miles from Downtown Cleveland. This property is also less than half a mile from the centre of Slavic Village. The property is split into four apartments. There are two, two bedroom apartments, one, one bedroom apartment and also a studio apartment. All four apartments have tenants in place and the total monthly rental income is $1,925 The property is under management with a great local Cleveland management company.
Broadway/Slavic Village is viewed as a very central location in Cleveland Ohio, it is just 4.3 miles from Downtown and 5.6 miles from University Circle. The property is also just less than half a mile from the centre of Slavic Village which is going through large development projects. This is one of the most up and coming areas in the City and in huge demand by investors.
Investment Calculation
Purchase price: 115,000
Gross annual rental income: $23,100
Property running costs: $4,561
(Tax, insurance and management costs)
Net annual rental income: $18,539
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years