This fantastic three bedroom family home is located on a nice street in South Broadway which is just 4.7 miles from Downtown Cleveland. This property is also just half a mile from Slavic Village one of the most demanded areas in Cleveland. The property has $5,000 included in the price to bring the property up a great rental ready standard. The management company will be placing brand new tenants when the new owner closes on the property. This property is under management by a great local Cleveland management company.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 4.7 miles miles from Downtown and 5.4 miles from University Circle. The property is also just half a mile from Slavic Village. Slavic Village is going through large development projects. This is one of the most up and coming areas in the City and in huge demand by investors.
• Three bedrooms.
• Full Basement.
• 1,254 sqft built.
• 4,375 sqft lot.
• Fully managed
• Local staff.
Purchase price: 32,900
Gross annual rental income: $7,800
Property running costs: $1,769 (Tax, insurance and management costs)
Net annual rental income: $6,031
Investment calculation - Net Income divided by Purchase price = NET ROI.