Added On :
City of Cleveland, USA
08 Sep 2018
£ 24,913 / € 28,330 / $ 31,900
This huge three bedroom house is amazing value at $31,900 and also tenanted..
This three bedroom house is located in Union – Miles Park which is a great neighbourhood in Cleveland, this area is close to Mount Pleasant. There are three large bedrooms, a full basement, a detached garage and a very large rear garden. This property is in a good condition and has new tenants in place who are paying $600 rent a month .This property is under management by one of the leading Cleveland property management companies.
Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just 5.8 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.
Purchase price: 31,900
Gross annual rental income: $7,200
Property running costs: $1,720
(Tax, insurance and management costs)
Net annual rental income: $5,480
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%