Four bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 32781054
Summary Data
| Price | £33,884 |
| Price Type | |
| Bedrooms | 4 - Bed |
| Bathrooms | 2 - Bath |
| Plot Size | |
| Building Size |
| Sector | Residential |
| Type | Houses |
| Subtype | Townhouse |
| Tenure | |
| Completion | |
| Parking |
Location Map
Property Description
This large multi-family home is located on a very nice street in Forest Hills, just five minutes from the highly sought after area of Euclid and 2.2 miles from the famous Euclid Avenue. The property is divided into two large apartments, you have a two bedroom apartment downstairs and a two bedroom apartment upstairs. Both apartments come tenant occupied and the total rent is $12,000 a year. This property is managed by a great local Cleveland management company and offers incredible value for money.
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, bike trails, and allows access to the beach parks in the neighborhoods on the Northside. It is also just 6.4 miles from Downtown and 3.2 miles from the University Circle.
Investment Details
Purchase price: 39,900
Gross annual rental income: $12,000
Property running costs: $2,980
(Tax, insurance and management costs)
Net annual rental income: $9,020
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 23%