Added On :
City of Cleveland, USA
01 Oct 2019
£ 36,012 / € 40,105 / $ 48,900
This huge three bedroom house is a rare find at $48,900...
This large three bedroom single family home is located in 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 just one mile away. The University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US, such as the Cleveland Museum of Art; Severance Hall, Cleveland Institute of Art, plus many more. There are three large bedrooms, one bathroom, a detached garage and a rear garden. The property has just been updated to a great standard and is now rental ready, the management company will place brand new tenants when the new owner closes on the property.
Hough is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway It is also just 1.3 miles from the University Circle.
Purchase price: 48,900
Gross annual rental income: $10,800
Property running costs: $2,400
(Tax, insurance and management costs)
Net annual rental income: $8,400
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%