Added On :
City of Cleveland, USA
13 Feb 2021
£ 30,487 / € 34,827 / $ 35,900
This large two bedroom house is a rare find at $35,900..
This very nice two bedroom family home is located in North Broadway which is just 3 miles from Downtown Cleveland. This property is also just 1.5 miles from Slavic Village one of the most demanded areas in Cleveland. The property has two large bedrooms=, one bathroom a nice lounge/diner, a full basement and a very nice rear garden. The house has long term tenants in place that are keeping the property in good condition and are paying $625 rent a month. The property is under management by a great local Cleveland property management company.
North Broadway is viewed as a very central location in Cleveland Ohio, it is just 3 miles miles from Downtown and 5.1 miles from University Circle. The property is also just 1.5 miles from Slavic Village. Slavic Village is going through large development projects. This is one of the most up and coming areas in the City and in huge demand by investors.
Purchase price: 35,900
Gross annual rental income: $7,500
Property running costs: $1,948
(Tax, insurance and management costs)
Net annual rental income: $5,552
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%
Break even in 6.25 Years