Added On :
City of Cleveland, USA
04 Jul 2018
£ 29,820 / € 34,297 / $ 38,900
This large three bedroom house is amazing value at $38,900 and also tenanted..
This large three bedroom house is located in the sought after area of South Collinwood, this area is close to Cleveland Heights and is just five minutes from the Lakeshore, it is also just a few miles from the famous Euclid Avenue which is full of hotels, restaurants, bars and shops. There are three large bedrooms, a full basement and a large side garden. This property comes tenant occupied, the tenants are paying $750 rent a month. This property is under management by a great local company.
South Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid. This property is only 9.6 miles from Downtown and 6.1 miles from the University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: $38,900
Gross annual rental income: $9,000
Property running costs: $2,338
(Tax, insurance and management costs)
Net annual rental income: $6,662
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%