This large four bedroom house is located on a nice street in South Broadway just 6.3 miles from Downtown Cleveland. There are four large bedrooms, a full basement and a large rear garden. This property has low yearly taxes and high rent, it is also Section 8 approved and Section 8 tenanted, the rent is paid directly by the US Government. This property is under management by one of the leading Cleveland property management companies.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 6.3 miles miles from Downtown and 6.7 miles from University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US, such as the Cleveland Museum of Art; Severance Hall, Cleveland Institute of Art; Case Western Reserve University, plus many more.
• Four bedrooms.
• Full basement.
• 1,155 sqft built.
• 3,944 sqft lot.
• Fully managed.
• Local staff.
Purchase price: $39,900
Gross annual rental income: $9,804
Property running costs: $2,259 (Tax, insurance and management costs)
Net annual rental income: $7,545
Investment calculation - Net Income divided by Purchase price = NET ROI.