Cleveland – $39,900

Net Return – 21%

Cleveland – $39,900 Array, Array

39,900

Description

This fantastic two apartment multi family home is located on a nice street in South Broadway which is just 4.7 miles from Downtown Cleveland. This property is also just a two minute walk to the centre of Slavic Village one of the most demanded areas in Cleveland. The property is divided into two large apartments, you have a large two bedroom apartment upstairs and a large two bedroom apartment downstairs. Both apartments have tenants in place, The upstairs apartment are paying $400 each month and the downstairs apartment are paying $500 each month. The property is under management by a great local company.

South Broadway is viewed as a very central location in Cleveland Ohio, it is just 4.7 miles miles from Downtown and 4.8 miles from University Circle. The property is also just a 2 minute walk the centre of 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

• Four bedrooms.

• Two Bathrooms

• 1,838 sqft built.

• 10,878 sqft lot.

• Fully managed.

• Local staff.

• Garden.

• Tenanted.

Investment Calculation

Purchase price: 39,900

Gross annual rental income: $10,800

Property running costs: $2,580
(Tax, insurance and management costs)

Net annual rental income: $8,220

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

Return on investment: 21%

Break even in 4.76 Years

Detail

Price: 39,900

Net Return: 21%

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