Added On :
City of Cleveland, USA
24 Jun 2022
£ 36,749 / € 40,925 / $ 49,900
This large three bedroom house is a rare find at $49,900...
This fantastic three bedroom family home is located on a nice street in South Broadway
which is just 4 miles from Downtown Cleveland. This property is also in the heart of
Broadway Slavic Village just one mile from Slavic Village, one of the most demanded areas
in Cleveland due to the new build homes increasing in the area.
The property has three large bedrooms, one bathrooms, a nice lounge diner and a full
basement. There are good tenants already in place paying $650 in rent each month. The
rent is lower than market rate so should the tenant leave in the future the rent could be
The property is under management by a great Cleveland property management company
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 4 miles
miles from Downtown and 6 miles from University Circle. The property is also in the heart
of Broadway 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: 49,900
Gross annual rental income: $7,800
Property running costs: $2,180
(Tax, insurance and management costs)
Net annual rental income: $5,620
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 12%
Break even in 8.33 Years