Four bedroom house

Full Description

This large multi-family home is located in Mount Pleasant and is only seven 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 two bedroom
apartment downstairs and a large two bedroom apartment upstairs. The property
has good long term tenant in place. The tenant in the downstairs apartment is paying
$500 in rent each month and the tenant in the upper apartment is also paying $500
in rent each month. The property is under management with a great local Cleveland
property management company.

Mount Pleasant is seen as a very strong investment area in Cleveland, less than 2
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 6 miles from Downtown and 4 miles
from the University Circle.

Investment Calculation

Purchase price: 52,900

Gross annual rental income: $12,000

Property running costs: $3,100
(Tax, insurance and management costs)

Net annual rental income: $8,900

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

Return on investment: 17%

Break even in 5.8 Years

Key Information

Property ID: 41649523
Price: £38,958
Property Type: Townhouse
Categories:

  • Residential Property
  • House

This four bedroom multi unit is amazing value at $52,900..