Four bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41635541
Summary Data
Price | £53,416 |
Price Type | |
Bedrooms | Studio |
Bathrooms | 2 - Bath |
Plot Size | |
Building Size |
Sector | Residential |
Type | Houses |
Subtype | Townhouse |
Tenure | |
Completion | |
Parking |
Location Map
Property Description
This nice two apartment multi family home is located on a nice street in South Broadway
which is just 7.1 miles from Downtown Cleveland. This property is very close to Garfield
Heights, one of the nicest suburbs of Cleveland and is only 1.5 miles to Garfield Heights
High School.
The property is divided into two apartments, you have a two bedroom apartment
downstairs and a two bedroom apartment upstairs. Both apartments have tenants in place
keeping the property in good condition. The total monthly rental income is $1,050 each
month. The house is under management with a great local Cleveland property
management company.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 7.1 miles
miles from Downtown and 6.2 miles from University Circle. The property is also just 2 miles
to the heart of Broadway Slavic Village and boarders onto Garfield Heights, one of the
nicest suburbs in Cleveland.
Investment Calculation
Purchase price: 62,900
Gross annual rental income: $12,600
Property running costs: $2,526
(Tax, insurance and management costs)
Net annual rental income: $10,074
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%
Break even in 6.25 Years