Property Sales - 41589297 - Townhouse in USA, Ohio, Cuyahoga County, City of Cleveland

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Four bedroom house

Property Information

Property ID:
Location :
Added On :
Price :
City of Cleveland, USA
26 Apr 2021
£ 53,416 / € 61,021 / $ 62,900

Short Description

This large four bedroom multi unit is a rare find at $62,900..

Key Information

  • Property ID: 41589297
  • Location: City of Cleveland
  • Property Type: Townhouse
  • Prices: £ 53,416 / € 61,021 / $ 62,900
  • Detatched
  • Garden
  • Off Street Parking
  • Outside Space

Full Description

This large two apartment multi family home is located in one of the nicest parts of 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 less two miles away. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. Both apartments have tenants in place and both tenants are paying $600 in rent each month. The property is under management by a great local company.

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 2 miles from the University Circle. 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.

Investment Calculation

Purchase price: 62,900

Gross annual rental income: $14,400

Property running costs: $3,380
(Tax, insurance and management costs)

Net annual rental income: $11,020

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 18%

Break even in 5.5 Years

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Property Alerts

  • Townhouse
  • 4 bedrooms
  • USA
  • City of Cleveland
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