Added On :
City of Cleveland, USA
17 May 2018
£ 23,687 / € 27,244 / $ 30,900
This large three bedroom house is amazing value at $30,900 and also tenanted..
This large three bedroom house is located in South Broadway which is just 6.3 miles from Downtown Cleveland There are three large bedrooms, a full basement and a large side garden. This property comes tenant occupied, the tenants have been in the property for a number of years and are paying $650 rent a month. This property is under management by a great local company.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 6.3 miles from Downtown and 6.7 miles from University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US, such as the Cleveland Museum of Art; Severance Hall, Cleveland Institute of Art; Case Western Reserve University, plus many more
Purchase price: $30,900
Gross annual rental income: $7,800
Property running costs: $1,849
(Tax, insurance and management costs)
Net annual rental income: $5,951
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%