Four bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41648332
Summary Data
Price | £61,059 |
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 very nice two apartment multi family home is located on a nice street in
Corlett and is less than half a mile and walking distance to John Adams College,
one of the leading schools in Cleveland.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. One of the
apartments has a private long term tenant in place paying $600 in rent each
month and the second apartment has a Section 8 tenant in place paying $620 in
rent each month. The house is under management with a greta local Cleveland
property management company.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 8.8 miles
from Downtown and 5.3 miles from University Circle. Also just 1.2 miles away you
have Lee Harvard shopping centre. The property is also just 5 minutes to John
Adams College, one of the best schools in Cleveland..
Investment Calculation
Purchase price: 71,900
Gross annual rental income: $14,640
Property running costs: $3,264
(Tax, insurance and management costs)
Net annual rental income: $11,376
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%
Break even in 6.25 Years