Four bedroom house

Full Description

This fantastic large brick built four apartment multi family home is located in a
very nice street close to the town centre of Elyria. Elyria, Ohio is 23 miles SW of
Cleveland, Ohio. It’s situated in northeastern Ohio in Lorain county.
The property is split into four, one bedroom apartments, you have two large one
bedroom apartments upstairs and two large one bedroom apartments downstairs.
The property has just been refurbished throughout and now has tenants in place
in each apartment. The total monthly rental income is $2,620

The property is just 1 miles and only 3 minutes to Downtown Elyria. Downtown
Elyria has an abundance of amenities such as grocery stores, restaurants and
coffee shops. Top attractions in Elyria include the Black River Reservation,The
Hickories Museum & The Midway Mall, a 1.1 million square foot regional shopping
mall that people drive from Cleveland City to visit. The Midway Mall is just 3 miles
from the property.


Investment Calculation

Purchase price: 199,900

Gross annual rental income: $31.440

Property running costs: $6,593
(Tax, insurance and management costs)

Net annual rental income: $28,847

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

Return on investment: 13%

Break even in 7.69 Years

Key Information

Property ID: 41628815
Price: £147,216
Property Type: Townhouse

  • Residential Property
  • House

This four bedroom multi unit is a rare find at $199,900..