Four bedroom house, City of Cleveland, USA

This large multi-family home is located in Mount Pleasant and is only five minutes from
the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland
and is full of restaurants, bars, boutiques and even has a cinema.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. The property is just
in the final stages of a complete refurbishment and will be delivered to the new owner
rent ready to a Section 8 standard.
The management company will place brand new tenants when the new owner closes on
the property paying $750 in rent each month per apartment. The tenants can either bar
Section 8 housing or private, the decision will be for the new owner.

Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1 mile
away you have the famous Shaker Square which is one of the biggest attractions in
Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema.
This property is also only 7 miles from Downtown and 4 miles from the University Circle.

Investment Calculation

Purchase price: 89,900

Gross annual rental income: $18,000

Property running costs: $2,930
(Tax, insurance and management costs)

Net annual rental income: $15,070

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

Return on investment: 17%