Property Sales - 41634786 - 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
03 May 2022
£ 75,496 / € 86,244 / $ 88,900

Short Description

This large four bedroom multi unit is amazing value at $88,900..

Key Information

  • Property ID: 41634786
  • Location: City of Cleveland
  • Property Type: Townhouse
  • Prices: £ 75,496 / € 86,244 / $ 88,900
  • Detatched
  • Garden
  • Off Street Parking
  • Outside Space

Full Description

This large two apartment multi family home is located on a nice street in Forest Hills
close to the shores of Lake Erie and is only a five minute drive from Glenville High
School, one of the best schools in Cleveland.
The property is divided into two very large apartments, you have a large two
bedroom apartment downstairs and a large two bedroom apartment upstairs. Both
apartments have good tenants in place keeping the property in good condition
paying $800 in rent each month. The house is under management with a great local
Cleveland property management company.

Forest Hills is seen as a very strong investment area in Cleveland, it is close to the
Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for
bus lines and bike trails. The house is walking distance to Forest Hills Park, a
historic urban park that was a portion of John D. Rockefeller’s estate. The 248-acre
(1.00 km2) park has six baseball diamonds (four lit), six lit tennis courts and three
walking trails that have retained the natural green space.


Investment Calculation

Purchase price: 88,900

Gross annual rental income: $19,200

Property running costs: $3,461
(Tax, insurance and management costs)

Net annual rental income: $15,739

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

Return on investment: 18%

Break even in 5.5 Years

Contact the Advertiser

Property Alerts

  • Townhouse
  • 4 bedrooms
  • USA
  • City of Cleveland
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