Added On :
City of Cleveland, USA
13 Jul 2022
£ 65,305 / € 74,602 / $ 76,900
This huge five bedroom house is amazing value at $76,900..
This fantastic large Five bedroom single family home is located in Kinsman, a desirable
suburb which is just 3.8 miles from Downtown Cleveland.
The property is very spacious and includes five large bedrooms, two full bathrooms
and a large converted basement. The house has a long term tenant in place that are
keeping the property in good condition and are paying $1,050 in rent each month. The
rent is lower than the market rate for this location, houses similar charge on average
$1,300 each month so should the tenant leave in the future the rent could be increased.
Kinsman is viewed as a very central location in Cleveland Ohio, it is just 3.8 miles miles
from Downtown and 3.6 miles from University Circle. The property is in a very desirable
area for buyers and renters alike. The house is only a short walk to Anton Primary
School. The area has many brand new developments and new housing projects
ongoing, plots of land also still being sold and brand new developments are
forthcoming which makes this area a great buy for capital appreciation.
Purchase price: 76,900
Gross annual rental income: $12,600
Property running costs: $2,360
(Tax, insurance and management costs)
Net annual rental income: $10,240
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 14%
Break even in 7.14 Years