Added On :
City of Cleveland, USA
07 Sep 2018
£ 32,289 / € 36,560 / $ 40,900
This huge four bedroom multi unit house is a rare find at $40,900...
This huge multi-family home is located in South Broadway, less than ten minutes from Holy Name Elementary School. 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 tenant occupied and the rent is $900 per month. This property is under management by a great local property management company.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 6.5 miles miles from Downtown and 6 miles from University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: 40,900
Gross annual rental income: $10,800
Property running costs: $2,880
(Tax, insurance and management costs)
Net annual rental income: $7,920
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%