Three bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41579836
Summary Data
| Price | £37,281 |
| 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 very nice three bedroom single family home is located on a nice street in Forest Hills close to the shores of Lake Erie and is only a five minute walk to Glenville High School. The property has 3 bedrooms, a full basement and a large rear garden. The property has just been updated and made rental ready. The management company will be placing brand new tenants when the new owner closes on the property paying $850 in rent each month.
Forest Hills is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines and bike trails. Bratenahl is one of the most exclusive residential areas in Cleveland where properties can sell in the Millions.
Investment Calculation
Purchase price: 43,900
Gross annual rental income: $10,200
Property running costs: $2,116
(Tax, insurance and management costs)
Net annual rental income: $8,084
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years