Three bedroom house, City of Cleveland, USA

This large three bedroom house is located on a nice street in Union – Miles Park
which is a great neighbourhood in Cleveland, this area is close to Mount Pleasant
and Slavic Village. It is also just a few minutes from John Adams College And Career
Academy, which is one of the best schools in Cleveland.
There are three large bedrooms, one bathroom and a full basement. There are also
long term tenants in place paying $700 rent a month. The average rent for a three
bedroom home in this location is approx $900 each month so should the tenants
ever leave in the future the rent could be increased.This property is under
management by a local Cleveland property management company. .

Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 6.4
miles from Downtown and 5 miles from University Circle. University Circle has the
highest concentration of cultural attractions and performing arts venues in the whole
of the US. The house is also just a short walk to John Adams College And Career
Academy, which is one of the best schools in Cleveland.

Investment Calculation

Purchase price: 45,900

Gross annual rental income: $8,400

Property running costs: $2,178
(Tax, insurance and management costs)

Net annual rental income: $5,682

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

Return on investment: 14%