Cleveland – $41,900

Net Return – 18%

Cleveland – $41,900 Array, Array

41,900

Description

This fantastic large three bedroom house is in a great location in Lee Miles. The property is only a three minutes to John F Kennedy High School, which is one of the best high schools in Cleveland, it is also just 2 minutes from the the Lee Harvard Plaza. There are three bedrooms, a full basement , a detached garage and a large garden. The tenants have been are keeping the property in great condition and have no intention of moving and are paying $800 a month. This property is under management by a grea local company.

Lee Miles is a very well kept busy area in the City of Cleveland, less than two minutes away you will find the Lee Harvard Plaza which contains many of leading fast food chains. This area is surrounded by some of the very best neighbourhoods in Cleveland including Shaker Heights and Maple Heights.

Property Details

• Three bedrooms.

• Full basement

• 1,380 sqft built.

• 6,550 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 41,900

Gross annual rental income: $9,600

Property running costs: $2,120
(Tax, insurance and management costs)

Net annual rental income: $7,480

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

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: 41,900

Net Return: 18%

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