This very nice two bedroom family home is located in North Broadway which is just 4.7 miles from Downtown Cleveland. This property is also just 0.7 miles from Slavic Village one of the most demanded areas in Cleveland. The property has tenants in place that are keeping the property in good condition and are paying $750 rent a month . This property is under management by a great local Cleveland property management company.
North Broadway is viewed as a very central location in Cleveland Ohio, it is just 4.7 miles miles from Downtown and 4.6 miles from University Circle. The property is also just 0.7 miles 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.
• Two bedrooms.
• Full Basement.
• 852 sqft built.
• 3,150 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 34,900
Gross annual rental income: $9,000
Property running costs: $1,885 (Tax, insurance and management costs)
Net annual rental income: $7,115
Investment calculation - Net Income divided by Purchase price = NET ROI.