Two bedroom house, City of Cleveland, USA

This single family house is located in the highly sought after area of Detroit Shoreway,
which is one of the best areas in Cleveland, this area is full of restaurants, bars, boutiques,
cinemas and is a very popular tourist destination, properties in this area can sell for over
$800,000.
The property is in a good condition and comes with two large bedrooms and a full
basement, the property also has a tenant in place paying $600 in rent each month, the
market rent for this area is $850 – $900 per month, therefore your potential future return
would be up to 17%. This property offers huge potential at this very low price for this area.

Detroit Shoreway, is located on the Westside of Cleveland and is just two miles from
Downtown Cleveland. Detroit-Shoreway is home to parks and trails like the multi-use Red
Line Greenway, and several sandy beaches in lakeside Edgewater Park. Restaurants,
bars, and nightclubs line the streets near Detroit Avenue, while antique shops can be
found along Lorain Avenue. The Cleveland Public Theatre stages regular live
performances.

Investment Calculation

Purchase price: 55,000

Gross annual rental income: $7,200

Property running costs: $1,514
(Tax, insurance and management costs)

Net annual rental income: $5,686

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

Return on investment: 11%