Five bedroom house, City of Cleveland, USA

City of Cleveland, Cuyahoga County, Ohio, USA

Property ID: 41705001

Summary Data

Price £67,853
Price Type
Bedrooms 5 - Bed
Bathrooms 1 - Bath
Plot Size
Building Size
Sector Residential
Type Houses
Subtype
Tenure
Completion
Parking

Location Map

Property Description

This large single family home is located in the sought after area of Glenville, just 2.4 miles to the centre
of University Circle. There are a large number of new build properties being constructed in this area
having a positive impact on nearby real estate.
The property will be renovated by Global Investments best contractors and will be supplied rent ready
to a Section 8 standard. There is a large tree at the front of the house which will be removed by the
contractors prior to marketing for new tenants. The management company will place brand new vetted
tenants when the work is complete. Large 5 bedroom single family homes are in shortage and high
demand with Section 8, The house should achieve $1,400 – $1,600 in rent each month. This house
when renovated would appraise for approx $95,000 – $105,000 giving the new owner immediate
equity. Similar homes are selling for $140,000 – $180,000 as shown on page 15 of this brochure.
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 extremely well located and is very close to the
VA hospital the Cleveland Museum of natural history, the Cleveland, Museum of Art, casted western
reserve University, the university hospitals, and the Cleveland clinic.

Investment Calculations
Purchase price
$79,900
Gross annual rental income:
$19,200
Property running costs:(Tax, insurance and management costs)
$3,720
Net annual rental income:
$15,480
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

20%

Break even in

5 Years.

No investment data available