Added On :
City of Cleveland, USA
19 Aug 2019
£ 40,368 / € 44,810 / $ 49,900
This large four bedroom multi unit is amazing value at $49,900...
This large multi-family home is located in Buckeye Shaker and is only six minutes from the famous Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and is full of restaurants, bars, boutiques and even has a cinema. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. This property is tenant occupied and both tenants are keeping the property in great condition. The total rental income is $1,100 per month. The property is managed by a great local management company.
Buckeye Shaker is seen as a very strong investment area in Cleveland, less than 1.2 miles away you have the famous Shaker Square. This property is also only 6.2 miles from Downtown and 3.1 miles from the University Circle which has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
Purchase price: 49,900
Gross annual rental income: $13,200
Property running costs: $2,422
(Tax, insurance and management costs)
Net annual rental income: $10,778
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 22%