Four bedroom house, City of Cleveland, USA

This fantastic two apartment multi family home 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 walk from Garfield Park reservation.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. The is a very
good long term tenant in one apartment paying $750 in rent each month. The
second apartment is rental ready and the management company will place a brand
new tenant paying $900 in rent each month when the new owner closes on the
property.

Garfield Heights is viewed as a very central location in Cleveland Ohio, it is just 9.6
miles from Downtown and 8 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 less than 1 mile and 2 minutes from the centre of Garfield
Heights and only a short walk to Garfield park reservation.

Investment Calculation

Purchase price: 124,900

Gross annual rental income: $19,800

Property running costs: $5,270
(Tax, insurance and management costs)

Net annual rental income: $14,530

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

Return on investment: 12%