Three bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41581402
Summary Data
| Price | £42,376 |
| 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 and a large garden. The property is currently being updated inside and made rental ready to a Section 8 standard. The management company will be placing brand new tenants when the new owner closes on the property. The new owner can chose Section 8, Eden or private tenants if they wish. The rental income will be $825 each month.
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 also very well positioned directly opposite the Cleveland Lakefront Nature Preserve and just five minutes and less than a mile to Gleville High School one of the best schools in the area..
Investment Calculation
Purchase price: 49,900
Gross annual rental income: $9,900
Property running costs: $2,183
(Tax, insurance and management costs)
Net annual rental income: $7,717
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%
Break even in 6.25 Years