Added On :
City of Cleveland, USA
03 Dec 2017
£ 34,658 / € 39,242 / $ 43,900
This large four bedroom house is amazing value at only $43,900 for two apartments.
This huge multi-family home is located on a very nice street in Corlett just 7.7 miles from Downtown Cleveland. The property is divided into two very large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs, both apartments have separate entrances and utilities. The property was only recently updated and the tenants are in the process of moving in, you will have two great new tenants who will be paying $15,000 in rent a year.This property is under management by one of the leading Cleveland property management companies.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7.7 miles from Downtown and 5.5 miles from University Circle which has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: $34,900
Gross annual rental income: $15,000
Property running costs: $3,356
(Tax, insurance and management costs)
Net annual rental income: $11,644
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 27%