Added On :
City of Cleveland, USA
05 Feb 2018
£ 30,613 / € 36,890 / $ 39,900
This large four bedroom house is a rare find at only $39,900 for two apartments..
This huge multi-family home is located on a very nice street in Corlett, just five minutes from John Adams High School. 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 were recently updated before the placement of the current tenants, the total rent is $12,300 per 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 7.2 miles from Downtown and 4.6 miles from University Circle which has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: $39,900
Gross annual rental income: $12,300
Property running costs: $3,330
(Tax, insurance and management costs)
Net annual rental income: $8,970
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 23%