Added On :
City of Cleveland, USA
03 Oct 2018
£ 28,037 / € 31,883 / $ 35,900
This large three bedroom house is amazing value at $35,900...
This fantastic three bathroom house is located on a nice street in Hough close to the shores of Lake Erie. Hough is a very demanded area in Cleveland due to its close proximity to the University Circle, the entrance is less than a mile away. The management company have just placed a new tenant who are paying $700 a month. This property is managed by a great local Cleveland management company.
Hough is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines, bike trails, and allows access to the beach parks in the neighborhoods on the Northside. It is also just 2 miles from the University Circle.
Purchase price: 35,900
Gross annual rental income: $8,400
Property running costs: $1,772
(Tax, insurance and management costs)
Net annual rental income: $6,628
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%