Added On :
City of Cleveland, USA
14 Apr 2019
£ 30,563 / € 34,036 / $ 41,500
This large three bedroom house is a rare find at $41,500...
This large three bedroom house is located on a nice street in West Boulevard on the Westside of Cleveland, the house is just 2.1 miles from Thomas Jefferson Elementary, one of the best schools in Cleveland. The property is just undergoing a complete refurbishment. There is included in the price a one month rent guarantee so the new owner does not lose any income while the management company is placing new tenants. This property is under management by a local Cleveland property management company.
West Boulvevard is located on the Westside and viewed as a very central location in Cleveland Ohio, it is just 5.9 miles from Downtown Cleveland and only 1.6 miles from Detroit Shoreway which is one of the best areas in Cleveland. The property is also only 3.4 miles from Cleveland Metroparks Zoo and fpod court which is a lovely family area of Cleveland.
Purchase price: 41,500
Gross annual rental income: $10,200
Property running costs: $2,520
(Tax, insurance and management costs)
Net annual rental income: $7,680
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%