This four bedroom house is very well located, the area is called South Broadway which is just 9.4 miles from Downtown Cleveland This property has a new roof, new furnace, recent hot water tank, updated electrics, a two car detached garage, four large bedrooms and a very large rear garden. The property is also Section 8 tenanted, the current tenants have been in the property for over five years now, the rent is paid by the US Government. This property is managed by one of the leading Cleveland property management companies.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 9.4 miles from Downtown and 6.4 miles from University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
• Four bedrooms.
• Full basement.
• 1,412 sqft built.
• 5,532 sqft lot.
• Fully managed.
• Local staff.
Purchase price: $42,500
Gross annual rental income: $9,588
Property running costs: $1,972 (Tax, insurance and management costs)
Net annual rental income: $7,616
Investment calculation - Net Income divided by Purchase price = NET ROI.