Four bedroom house, City of Cleveland, USA
City of Cleveland, Cuyahoga County, Ohio, USA
Property ID: 41646429
Summary Data
| Price | £59,361 |
| Price Type | |
| Bedrooms | Studio |
| Bathrooms | 2 - Bath |
| Plot Size | |
| Building Size |
| Sector | Residential |
| Type | Houses |
| Subtype | Townhouse |
| Tenure | |
| Completion | |
| Parking |
Location Map
Property Description
This large two apartment multi family home is located on a nice street in Forest
Hills close to the shores of Lake Erie and is only a two minute drive from Glenville
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 are in a good condition and both apartments are tenant occupied.
The total rent is $14,400 per year and the property is under management by a
great local management company.
Forest Hills is seen as a very strong investment area in Cleveland, it is close to
the Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is
appealing for bus lines and bike trails. The house is just 1.2 miles to the Famous
Shoreby Club and the neighbouring community Bratenahl. Bratenahl one of the
most exclusive residential areas in Cleveland.
Investment Calculation
Purchase price: 69,900
Gross annual rental income: $14,400
Property running costs: $2,640
(Tax, insurance and management costs)
Net annual rental income: $11,760
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years