This three bedroom 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 three minutes and less than a mile from Collingwood High School, one of the best schools in Cleveland. The property is in a good condition and has three large bedrooms, a garage and a large rear garden, the tenants are paying $750 rent a month. This property is under management by a great local property 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 1.8 miles and just 5 minutes from the famous Euclid Avenue where you will find many shops, restaurants, hotel chains & the town hall. This is one of our most demanded areas by investors.
• Three bedrooms.
• Full basement.
• 1,100 sqft built.
• 5,280 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 38,900
Gross annual rental income: $9,000
Property running costs: $2,050 (Tax, insurance and management costs)
Net annual rental income: $6,950
Investment calculation - Net Income divided by Purchase price = NET ROI.