Three bedroom house, City of Cleveland, USA

This fantastic large three bedroom single family home is located in Buckeye Shaker and is only five minutes from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and is full of restaurants, bars, boutiques and even has a cinema. The property has three large bedrooms, one and a half bathrooms, a large lounge diner, a full basement and a large rear garden with a detached garage. The previous owner has just invested good money on the house by replacing the vinyl siding, all new vinyl windows, a new furnace, new electrics and also a new hot water tank. There are also good long term tenants in place paying $700 in rent each Month.The rent for this property in this location is closer to $850 each month so should the tenant move in the future the rent can be easily increased. The property is under management by a great local Cleveland management company.

Buckeye Shaker is seen as a very strong investment area in Cleveland, just 1 mile away you have the famous Shaker Square. This property is also only 5.8 miles from Downtown and 2.9 miles from the University Circle which has the highest concentration of cultural attractions and performing arts venues in the whole of the US.

Investment Calculation

Purchase price: 39,900

Gross annual rental income: $8,400

Property running costs: $2,040
(Tax, insurance and management costs)

Net annual rental income: $6,360

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

Return on investment: 17%

Break even in 5.8 Years