Cleveland – $34,900

Net Return – 18%

Cleveland – $34,900 Array, Array

34,900

Description

This large three bedroom single family home is located on a nice street in Clark Fulton on the Westside of Cleveland, the house is less than 1 mile from Thomas Jefferson Elementary, one of the best schools in Cleveland. The property has three large bedrooms, a large kitchen with a 1st floor utility room. Two walk-in closets, front porch and 2nd floor porch off the master bedroom and a full basement. There are tenants already in place that are paying $650 in rent each month. The property is under management by a great local company.

Clark Fulton is located on the Westside and viewed as a very central location in Cleveland Ohio, it is just 5 miles from Downtown Cleveland and only 2.3 miles from Detroit Shoreway which is one of the best areas in Cleveland. The property is also only 1.7 miles from Cleveland Metroparks Zoo and food court which is a lovely family area of Cleveland.

Property Details

• Three bedrooms.

• Full basement.

• 1,257 sqft built.

• 3,500 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 34,900

Gross annual rental income: $7,800

Property running costs: $1,694
(Tax, insurance and management costs)

Net annual rental income: $6,106

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

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: 34,900

Net Return: 18%

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