This large three bedroom house is located in South-Collinwood just 9.1 miles from Downtown Cleveland. There are three large bedrooms, a full basement and a large rear garden. This property is in a great condition and has a tenant in place paying $775 rent a month . This property is under management by one of the leading Cleveland property management companies.
South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid. This property is only 9.1miles from Downtown and 4.9 miles from the University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
• Three bedrooms.
• Full basement.
• 1,056 sqft built.
• 2,500 sqft lot.
• Fully managed.
• Local staff.
Purchase price: $36,900
Gross annual rental income: $9,300
Property running costs: $2,850 (Tax, insurance and management costs)
Net annual rental income: $6,450
Investment calculation - Net Income divided by Purchase price = NET ROI.