Cleveland – $31,900

Net Return – 19%

Cleveland – $31,900 Array, Array

31,900

Description

This three bedroom house is in a great location in Lee Miles. The property is only one mile to John F Kennedy High School, which is one of the best high schools in Cleveland, it is also just six minutes from the Lee Harvard Plaza & shopping centre. There are three bedrooms, a full basement, a kitchen/diner and a large garden. This property has great tenants in place paying $650 a month, it is also under management by a great local company.

Lee Miles is a very well kept busy area in the City of Cleveland, less than a two minute walk away you will find the Lee Harvard Plaza which contains many of leading fast food chains. This area is surrounded by some of the very best neighbourhoods in Cleveland including Shaker Heights and Maple Heights.

Property Details

• Three bedrooms.

• Full basement.

• 605 sqft built.

• 4,486 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 31,900

Gross annual rental income: $7,800

Property running costs: $1,790
(Tax, insurance and management costs)

Net annual rental income: $6,010

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 19%

Break even in 5.26 Years

Detail

Price: 31,900

Net Return: 19%

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