Four bedroom house, City of Cleveland, USA

City of Cleveland, Cuyahoga County, Ohio, USA

Property ID: 41690091

Summary Data

Price £66,155
Price Type
Bedrooms 4 - Bed
Bathrooms 2 - Bath
Plot Size
Building Size
Sector Residential
Type Houses
Subtype
Tenure
Completion
Parking

Location Map

Property Description

This large multi-family home is located in Mount Pleasant and is only four 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 is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. The property
has a good long term tenant in place in one apartment paying $650 in rent each
month. The second apartment has just been vacated and will be supplied by the
seller rental ready. The management company will place brand new tenants when
the new owner closes on the property paying $800 – $850 in rent each month.

Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1
mile away you have the famous Shaker Square which is one of the biggest
attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and
even has a cinema. This property is also only 7 miles from Downtown and 4 miles
from the University Circle.

Investment Calculations
Purchase price
$77,900
Gross annual rental income:
$18,000
Property running costs:(Tax, insurance and management costs)
$3,459
Net annual rental income:
$14,541
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

19%

Break even in

5.26 Years

No investment data available