Three bedroom house, City of Cleveland, USA

This fantastic three bedroom single family home is located on a very nice street in
the sought after area of South-Collinwood, it is just five minutes from the Lakeshore
and only a short walk to Collingwood High School, one of the best schools in
Cleveland.
The property has three spacious bedrooms, one bathroom, a large lounge diner and
a full basement. The property is currently being refurbished inside to a good Section
8 standard. The management company will place brand new tenants when the new
owner closes on the property. The tenants can either be private or Section 8. The
decision will be for the new owner. The rent will achieve $1,100 – $1,200 in rent each
month.

South-Collinwood is seen as a very strong investment area in Cleveland, this area is
surrounded by some great neighbourhoods like University Heights, Glenville,
Richmond Heights and Euclid, The property is just 0.4 miles and walking distance to
Collinwood High School one of the best schools in Cleveland. This is one of our most
demanded areas by investors

Investment Calculation

Purchase price: 64,900

Gross annual rental income: $14,400

Property running costs: $2,496
(Tax, insurance and management costs)

Net annual rental income: $11,904

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

Return on investment: 19%