This large four bedroom house is located on a nice street in Newburgh Heights just 6.2 miles from Downtown Cleveland. There are four large bedrooms, a full basement, a large rear garden and two bathrooms. This property is in a good condition and has long term tenants in place who are paying $740 rent a month .This property is under management by one of the leading Cleveland property management companies.
Newburgh Heights is viewed as a very central location in Cleveland Ohio, it is just 6.2 miles from Downtown and 6.7 miles from University Circle which has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
• Four bedrooms.
• Two bathrooms.
• 1,440 sqft built.
• 4,200 sqft lot.
• Local staff.
• Fully managed.
Purchase price: $37,500
Gross annual rental income: $8,880
Property running costs: $1,582 (Tax, insurance and management costs)
Net annual rental income: $7,298
Investment calculation - Net Income divided by Purchase price = NET ROI.