Added On :
City of Cleveland, USA
13 Dec 2022
£ 55,115 / € 62,961 / $ 64,900
This two bedroom house is a rare find at $64,900..
This fantastic Two bedroom house is located on a nice street in Garfield Heights
which is a great neighbourhood in Cleveland, this area is close to Lee Miles and
the property is just a few minutes and only 2 miles from Garfield Park reservation.
There are two large bedrooms, one bathroom, a full basement and a large
garden. There are also long term tenants in place paying $650 rent a month. The
rental average for this property in this location is $1,100 so should the tenant
leave the rent could easily be increased. This property is under management by a
local Cleveland property management company. .
Garfield Heights is viewed as a very central location in Cleveland Ohio, it is just
13 miles from Downtown and 7 miles from University Circle which has the highest
concentration of cultural attractions and performing arts venues in the whole of
the US. The property is also only 2 miles to Garfield park reservation.
Purchase price: $64,900
Gross annual rental income: $7,800
Property running costs: $3,008
(Tax, insurance and management costs)
Net annual rental income: $4,792
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 8%
Break even in 12.5 Years