This large Five bedroom house is located on a nice street in the sought after area of Glenville, just five minutes from Glenville High School which is one of the best schools in Cleveland. The property has five large bedrooms, 2 bathrooms and a full basement. This property has just been updated and made rental ready and comes with tenants in place paying $1,000 in rent each month. This property is managed by a great local Cleveland management company.
Glenville is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines, bike trails, and allows access to the beach parks in the neighbourhoods on the Northside. It is also just 4.7 miles from Downtown and just 1.6 miles from the University Circle.
• Five bedrooms.
• Two Bathrooms
• 1,408 sqft built.
• 3,850 sqft lot.
• Fully managed.
• Local staff
Purchase price: 47,900
Gross annual rental income: $12,000
Property running costs: $2,756 (Tax, insurance and management costs)
Net annual rental income: $9,244
Investment calculation - Net Income divided by Purchase price = NET ROI.