This very nice three bedroom house is located on a nice street in Cudell on the Westside of Cleveland, the house is two miles from Thomas Jefferson Elementary, one of the best schools in Cleveland. The property has three large bedrooms and included in the price is $2,000 to take care of a few small maintenance requirements. There are tenants waiting to move in and they will be paying $900 per month. This property is under management by a local Cleveland property management company.
Cudell is located on the Westside and viewed as a very central location in Cleveland Ohio, it is just 5.8 miles from Downtown Cleveland and only 1.8 miles from Detroit Shoreway which is one of the best areas in Cleveland. The property is also only 3.8 miles from Cleveland Zoo which is a lovely family area of Cleveland.
• Three bedrooms.
• Full basement.
• 1,856 sqft built.
• 3,500 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 44,900
Gross annual rental income: $10,800
Property running costs: $2,830 (Tax, insurance and management costs)
Net annual rental income: $7,970
Investment calculation - Net Income divided by Purchase price = NET ROI.