Added On :
City of Cleveland, USA
29 Aug 2018
£ 31,500 / € 35,666 / $ 39,900
This large three bedroom house is amazing value at $39,900...
This large three bedroom house is located on a nice street in highly sought after area of South-Collinwood, less than five minutes away from Collingwood High School and just a few minutes from the Lakeshore. There are three large bedrooms, a full basement, two bathrooms, a detached garage and a large garden. This property comes tenant occupied, the tenants are paying $900 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, Manhattan Beach and Euclid. This property is only 9.6 miles from Downtown and 4.8 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: 39,900
Gross annual rental income: $10,800
Property running costs: $2,589
(Tax, insurance and management costs)
Net annual rental income: $8,211
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%