Four bedroom house, City of Cleveland, USA

This large multi-family home is located on a very nice street in the sought after
area of South-Collinwood, it is just five minutes from the Lakeshore and a two
minute drive from Collingwood 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 were recently updated to a good rent ready standard. The
management company will place brand new tenants when the new owner closes
on the property paying $700 – $750 in rent each month.

South-Collinwood is seen as a very strong investment area in Cleveland, this
area is surrounded by some great neighbourhoods like University Heights,
Glenville, Richmond Heights and Euclid, this property is only 8.3 miles from
Downtown and just 4.4 miles from the University Circle.

Investment Calculation

Purchase price: 81,900

Gross annual rental income: $18,000

Property running costs: $3,014
(Tax, insurance and management costs)

Net annual rental income: $14,986

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

Return on investment: 19%