Added On :
City of Cleveland, USA
03 Feb 2021
£ 50,869 / € 58,110 / $ 59,900
This large four bedroom house is amazing value at $59,900..
This fantastic large multi-family two apartment home is located on a nice street in East Cleveland only a short walk to Cleveland Heights where you will find the Community Centre, Forest Hills Park and many amenities. The property is divided into two large two bedroom apartments, you have a large two bedroom apartment upstairs and a large two bedroom apartment downstairs. Both apartments have good paying long term tenants in place. The monthly rental income is $1,250 each month. This property is under management by a great local property management company.
East Cleveland is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, South Collinwood Richmond Heights and Euclid This property is just a short walk from Cleveland Heights where there are many amenities such as Forest Hills Park, Supermarkets, Shops and popular Cafe’s such as Starbucks.
Purchase price: 59,900
Gross annual rental income: $15,000
Property running costs: $3,183
(Tax, insurance and management costs)
Net annual rental income: $11,817
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%
Break even in 5 Years