Four bedroom house, City of Cleveland, USA

This large three apartment multi family home is located on a nice street in Forest Hills
close to the shores of Lake Erie and is only a short walk and less than half a mile from
Glenville High School, one of the best schools in Cleveland.
The property is divided into three apartments, you have a large one bedroom apartment
on the first floor with a tenant in place paying $495 in rent each month. On the second
floor you have a spacious two bedroom apartment also with a tenant in place paying
$625 in rent each month and on the third floor there is another one bedroom apartment
also tenanted paying $570 in rent each month. The house is under management with a
great local Cleveland property management company.

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. The house is just 1.3 miles to the Famous Shoreby Club and the
neighbouring community Bratenahl. Bratenahl one of the most exclusive residential
areas in Cleveland where properties can sell in the Millions.

Investment Calculation

Purchase price: $89,900

Gross annual rental income: $20,280

Property running costs: $3,645
(Tax, insurance and management costs)

Net annual rental income: $16,635

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

Return on investment: 19%