Cleveland – $55,900

Net Return – 23%

Cleveland – $55,900 Array, Array

55,900

Description

This huge multi-family home is located on a very nice street in Buckeye- Shaker, which is a great neighbourhood in Cleveland. The property is divided into two very large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. The property is currently undergoing a complete refurbishment which is due to be completed in two weeks time, the carpets arrive next week. The management company have already screened tenants who are ready for placement once the work is finished. The property will be tenanted and refurbished in time for your completion.

Buckeye-Shaker is viewed as a good neighbourhood in Cleveland Ohio, it is just 6.3 miles from Downtown and less than 3 miles from University Circle which has the highest concentration of cultural attractions and performing arts venues in the whole of the US.

 

Property Details

• Four bedrooms. • Two bathrooms. • 1,917 sqft built. • 4,000 sqft lot. • Fully managed. • Local staff. • Garden. • Good location.

Investment Calculation

Purchase price: 55,900

Gross annual rental income: $15,600

Property running costs: $3,048
(Tax, insurance and management costs)

Net annual rental income: $12,552

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

Return on investment: 23%

Break even in 4.34 Years

Detail

Price: 55,900

Net Return: 23%

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