Four bedroom house, City of Cleveland, USA

This nice four bedroom single family home is located in North Broadway which is just
4.3 miles from Downtown Cleveland. This property is also just 1 mile from Slavic Village
one of the most demanded areas in Cleveland.
The property has four bedrooms, one bathroom, a full basement and a large rear
garden. There is a good long term tenant in place paying only $620 in rent each month.
The market rents detached single family four bedroom homes in this area can reach up
to $1,200 each month so should the tenant leave in the future the rent could be
increased. The property is under management by a great local Cleveland property
management company.

North Broadway is viewed as a very central location in Cleveland Ohio, it is just 4.3
miles miles from Downtown and 4.5 miles from University Circle. The property is also
just 1 mile from Slavic Village. Slavic Village is going through large development
projects. This is one of the most up and coming areas in the City and in huge demand
from investors.

Investment Calculation

Purchase price: 42,900

Gross annual rental income: $7,440

Property running costs: $1,931
(Tax, insurance and management costs)

Net annual rental income: $5,509

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

Return on investment: 13%