Added On :
City of Cleveland, USA
04 Aug 2022
£ 47,795 / € 53,227 / $ 64,900
This large four bedroom house is amazing value at $64,900..
This fantastic large four bedroom single family home is located in North Broadway which
is just 3.8 miles from Downtown Cleveland. This property is also less than a mile from
Slavic Village one of the most demanded areas in Cleveland.
The property has four bedrooms, one bathroom, a full basement and a large rear garden.
The property has just been vacated and the seller will be updating the property and
providing the house rental ready to a Section 8 standard. The management company will
place brand new tenants when the works are completed and the new owner closes on
the property. The tenants can either be Section 8 housing or private, the decision will be
for the new owner. The house when updated should achieve $1,200 in rent each month.
North Broadway is viewed as a very central location in Cleveland Ohio, it is just 3.8 miles
miles from Downtown and 4.9 miles from University Circle. The property is also less than
1 mile 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 from
Purchase price: 64,900
Gross annual rental income: $14,400
Property running costs: $2,614
(Tax, insurance and management costs)
Net annual rental income: $11,786
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years