Cleveland – $31,900

Net Return – 18%

Cleveland – $31,900 Array, Array

31,900

Description

This two bedroom single family home is located on a very nice street in the sought after area of South-Collinwood, it is just five minutes from the Lakeshore and two minutes and less than a mile from Collingwood High School, one of the best schools in Cleveland. The property has two large bedrooms, one bathroom, a large lounge diner and a full basement. There are tenants in place keeping the property in great condition paying $675 rent each Month. The property is under management by a great local Cleveland management company.

South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The property is just 0.6 miles and walking distance to Collinwood High School one of the best schools in Cleveland. This is one of our most demanded areas by investors

Property Details

• Two bedrooms.

• One Bathroom.

• 912 sqft built.

• 3,520 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 31,900

Gross annual rental income: $8,100

Property running costs: $2,460
(Tax, insurance and management costs)

Net annual rental income: $5,640

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

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: 31,900

Net Return: 18%

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