Six bedroom house

Full Description

This large multi-family home is located in Mount Pleasant and is right next to Shaker
Heights. The house is also just 1.9 miles from the famous Shaker Heights High School.
Shaker Heights is one of the most demanded and prestigious areas in Cleveland.
The property is divided into two large apartments, you have a large three bedroom
apartment downstairs and a large three bedroom apartment upstairs. The property has
good long term Section 8 tenants in place in both apartments. The lower apartment is
paying $1,235 each month & the upper apartment is paying $815 in rent each month.
The rent for both apartments is paid direct to the landlord via the City of Cleveland.
The property is under management with a great local Cleveland management company.

Mount Pleasant is seen as a very strong investment area in Cleveland, just 2 miles away
you Shaker Square which is one of the biggest attractions in Cleveland. The house is
also just bordering on the famous Shaker Heights, one of the most desirable areas in
Cleveland. The house is just 1.9 miles from Shaker Heights High School.

 

Investment Calculation

Purchase price: 89,900

Gross annual rental income: $24,600

Property running costs: $4,849
(Tax, insurance and management costs)

Net annual rental income: $19,751

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

Return on investment: 22%

Break even in 4.54 Years

Key Information

Property ID: 41619622
Price: £66,207
Property Type: Townhouse
Categories:

  • Residential Property
  • House

This large six bedroom multi unit is a rare find at $89,900..