Three bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41575528
Summary Data
| Price | £50,019 |
| Price Type | |
| Bedrooms | Studio |
| Bathrooms | 1 - Bath |
| Plot Size | |
| Building Size |
| Sector | Residential |
| Type | Houses |
| Subtype | Townhouse |
| Tenure | |
| Completion | |
| Parking |
Location Map
Property Description
This large three bedroom house is located on a nice street in the sought after area of Glenville, just five minutes from Glenville High School and is only a short distance from the Lakefront. There are three large bedrooms, a full basement, large dining room with a fireplace and a large garden. The property has good Section 8 tenants already in place paying $998 in rent each month. The rent Is paid direct to the landlord via the US Government. The property is also under management with a great local Cleveland management company.
Glenville is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway). The property is just half a mile from E105th Street. The up and coming “ Opportunity Corridor “ and the final phase of a $306 million roadway project. When completed, the three-mile Opportunity Corridor will connect Interstate 490 at East 55th Street with East 105th Street and University Circle. A great location for future capital appreciation.
Investment Calculation
Purchase price: 58,900
Gross annual rental income: $11,976
Property running costs: $2,518
(Tax, insurance and management costs)
Net annual rental income: $9,458
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years