Cleveland – $34,500

Net Return – 20%

Cleveland – $34,500 Array, Array

34,500

Description

This very nice two bedroom family home is located in North Broadway which is just 4.4 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 4.4 miles miles from Downtown and 4.5 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.

Property Details

• Two bedrooms.

• Full Basement

• 945 sqft built.

• 3,150 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 34,500

Gross annual rental income: $9,000

Property running costs: $2,292
(Tax, insurance and management costs)

Net annual rental income: $6,708

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

Return on investment: 20%

Break even in 5 Years

Detail

Price: 34,500

Net Return: 20%

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