Added On :
City of Cleveland, USA
24 May 2018
£ 32,886 / € 37,824 / $ 42,900
This large three bedroom house is amazing value at $42,900 and also tenanted...
This three bedroom house is very well located, the area is called Garfield Heights which is one of the most sought after areas in Cleveland. This property has a new roof, a new hot water tank, updated electrical’s, new vinyl siding, new furnace, three bedrooms and a finished basement. The property is also Section 8 tenanted, the current tenants have been in the property for over three years now, the rent is paid by the US Government. This property is under management by one of the leading Cleveland property management companies.
Garfield Heights is viewed as a very central location in Cleveland Ohio, it is just 10.1 miles from Downtown and 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: $42,900
Gross annual rental income: $9,600
Property running costs: $2,872
(Tax, insurance and management costs)
Net annual rental income: $6,728
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%