Four bedroom house

Full Description

This large two apartment multi family home is located on a nice street in Forest Hills close to the shores of Lake Erie and is only a five minute drive from Glenville High School, one of the best schools in Cleveland. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. Both apartments have tenants in place and both tenants are paying $600 in rent each month. The property is under management by a great local 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 walking distance to Forest Hills Park, a historic urban park that was a portion of John D. Rockefeller’s estate. The 248-acre (1.00 km2) park has six baseball diamonds (four lit), six lit tennis courts and three walking trails that have retained the natural green space.

 

Investment Calculation


Purchase price: 61,900

Gross annual rental income: $14,400

Property running costs: $3,340
(Tax, insurance and management costs)

Net annual rental income: $11,060

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

Return on investment: 18%

Break even in 5.5 Years

Key Information

Property ID: 41589304
Price: £45,586
Property Type: Townhouse
Categories:

  • Residential Property
  • House

This huge four bedroom multi unit is amazing value at $61,900..