Four bedroom house

Full Description

This large Four bedroom house is located on a nice street in the sought after area
of Glenville, just five minutes from Glenville High School which is one of the best
schools in Cleveland.
The property has four large bedrooms, 1 bathroom and a full basement. The
property has just being completely updated inside to a great rental ready
standard. The management company will place brand new tenants when the new
owner closes on the property paying between $950 – $1,050 in rent each month.

Glenville 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
neighbourhoods on the Northside. The house is walking distance to the University
Circle,1.9 miles to the Cleveland Clinic & 1 mille to the Cleveland Museum of
Natural History. Ashbury Avenue is less than 0.3 miles from the house and you will
buy a house on that street for 180k upwards.

 

Investment Calculation

Purchase price: 74,900

Gross annual rental income: $12,600

Property running costs: $2,310
(Tax, insurance and management costs)

Net annual rental income: $10,290

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

Return on investment: 14%

Break even in 7.14 Years

Key Information

Property ID: 41607305
Price: £55,160
Property Type: Townhouse
Categories:

  • Residential Property
  • House

This large four bedroom house is a rare find at $74,900..