Cleveland – $45,900

Net Return – 19%

Cleveland – $45,900 Array, Array

45,900

Description

This fantastic four bedroom single family home is located in Euclid Green right next to South Collinwood, just a short distance from the Lakefront. It is also only a five minute walk to Euclid Park School. The property is very spacious with 4 large bedrooms on a large 5,016 soft plot. The property has just been refurbished throughout including new kitchen and bathroom, new hot water tank and also a brand new furnace. The house also has had a new roof. The management company will place brand new tenants paying $850 in rent each month when the new owner closes on the property.

Euclid Green 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 South Collinwood, this property is only 2 miles and 6 minutes from Euclid Creek Reservation, a beautiful nature trail full of natural wildlife, picnic areas and stunning scenery. A great family area that is close to the city and yet nature is all around you

Property Details

• Four bedrooms.

• Full basement

• 1,514 sqft built.

• 5,016 sqft lot.

• Fully managed.

• Local staff

• Garden.

• Tenanted.

Investment Calculation

Purchase price: 45,900

Gross annual rental income: $10,200

Property running costs: $1,870
(Tax, insurance and management costs)

Net annual rental income: $8,330

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

Return on investment: 19%

Break even in 5.26 Years

Detail

Price: 45,900

Net Return: 19%

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