Cleveland – $47,900

Net Return – 21%

Cleveland – $47,900 Array, Array

47,900

Description

This large multi-family home is located on a nice street in East Cleveland only six minutes from Glenville High School, which is one of the best schools in Cleveland and also only 10 minutes to the centre of the University Circle. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. One apartment is currently tenant occupied and they are paying $500 in rent each month. The second apartment the management company will be placing brand new tenants when the new owner closes on the property paying $550 in rent each month.

East Cleveland is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, South Collinwood Richmond Heights and Euclid, this property is only 7 miles from Downtown, 3 miles from the University Circle.

Property Details

• Four bedrooms.

• Two bathrooms

• 2,612 sqft built.

• 5,280 sqft lot.

• Fully managed.

• Local staff

• Garden.

• Tenanted.

Investment Calculation

Purchase price: 47,900

Gross annual rental income: $12,600

Property running costs: $2,918
(Tax, insurance and management costs)

Net annual rental income: $9,682

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

Return on investment: 21%

Break even in 4.76 Years

Detail

Price: 47,900

Net Return: 21%

See what our investors have to say

THE USA BUYING PROCESS