Added On :
City of Cleveland, USA
30 May 2018
£ 42,122 / € 50,758 / $ 54,900
This huge four bedroom multi unit house is amazing value at $54,900 ....
This huge multi-family home is located on a very nice street in Union – Miles Park, just a few streets away from John Adams College. 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 are in a great condition and both apartments are tenant occupied, the total rent is $13,200 per year. This property is under management by a great local management company.
Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 6.8 miles from Downtown and 4.6 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: $54,900
Gross annual rental income: $13,200
Property running costs: $3,219
(Tax, insurance and management costs)
Net annual rental income: $9,981
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%