Three bedroom house

Full Description

This single family house is located on a nice street in North Broadway just five minutes away from Washington Center Golf Course The property is in a good condition and comes with three large bedrooms, a full basement and a large detached garage at the back of the property. The rent is low in comparison to the market rent in this area and could easily be increased if the tenant leaves in the future. The market rent for this property is $800-$850 per month, this would increase the net return to 18% per year.

North Broadway is viewed as a very central location in Cleveland Ohio, it is just 4.3 miles miles from Downtown and 5.5 miles from University Circle. The property is also less half a mile from Slavic Village.

 

Investment Calculation

Purchase price: 38,900

Gross annual rental income: $7,200

Property running costs: $1,916
(Tax, insurance and management costs)

Net annual rental income: $5,284

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

Return on investment: 14%

Break even in 7.14 Years

Key Information

Property ID: 41542778
Price: £28,648
Property Type: Townhouse
Categories:

  • Residential Property
  • House

This large three bedroom house is amazing value at $38,900..