Six bedroom house, Cleveland, USA

This large multi-family home is located in Mount Pleasant and is only six 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 three bedroom
apartment downstairs and a large three bedroom apartment upstairs. The property
has a good long term tenant in place paying $675 in rent each month. The market
rent for this apartment is $850 so should the tenant leave in the future the rent could
be increased. The second apartment is now vacant and rental ready. The
management company will place a brand new tenant when the new owner closes on
the property paying $850 in rent each month.

Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1.7
miles 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: 85,900

Gross annual rental income: $18,300

Property running costs: $3,570
(Tax, insurance and management costs)

Net annual rental income: $14,730

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

Return on investment: 18%