Added On :
City of Cleveland, USA
25 Jun 2018
£ 30,586 / € 35,179 / $ 39,900
This large four bedroom house is amazing value at only $39,900...
This large four bedroom house is located on a nice street in the sought after area of Mount Pleasant, just 2.3 miles from the famous Shaker Square and three miles from Shaker Heights High School. The property was recently updated including an updated bathroom and kitchen, there are four large bedrooms, a full basement and a large rear garden. This property has new tenants in place who are paying $785 rent a month.This property is under management by a local Cleveland property management company.
Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1.3 miles away you have the famous Shaker Square which is one of the biggest attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a cinema. This property is also only 6.2 miles from Downtown and 4 miles from the University Circle.
Purchase price: $39,900
Gross annual rental income: $9,420
Property running costs: $2,123
(Tax, insurance and management costs)
Net annual rental income: $7,297
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%