This very nice three bedroom house is located on a nice street in Stockyards on the Westside of Cleveland, the house is only half a mile and a short walk from Thomas Jefferson Elementary, one of the best schools in Cleveland. The property has three large bedrooms, one and a half bathrooms, a full basement and a large rear garden. The property has tenants in place paying $775 in rent each month. This property is under management by a local Cleveland property management company.
Stockyards is located on the Westside and viewed as a very central location in Cleveland Ohio, it is just 4.4 miles from Downtown Cleveland and only 1.5 miles from Detroit Shoreway which is one of the best areas in Cleveland. The property is also only less than 1 mile from the Metro Health centres main campus. A $946 million transformation plan of an 11-story 264-bed hospital on its main campus on West 25th Street in Cleveland. A huge project that is transforming the area.
• Three bedrooms.
• One and a half bathrooms.
• 1,387 sqft built.
• 5,000 sqft lot.
• Fully managed
• Local staff.
Purchase price: 42,900
Gross annual rental income: $9,300
Property running costs: $1,972 (Tax, insurance and management costs)
Net annual rental income: $7,328
Investment calculation - Net Income divided by Purchase price = NET ROI.