Cleveland – $38,900

Net Return – 18%

Cleveland – $38,900 Array, Array

38,900

Description

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.

Property Details

• Three bedrooms.

• Full basement.

• 1,100 sqft built.

• 5,280 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

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.

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: 38,900

Net Return: 18%

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