Cleveland -$46,900

Net Return – 27%

Cleveland -$46,900 Array, Array

46,900

Description

This large multi-family home is located on a very nice street in Kinsman which is just 4.8 miles from Downtown Cleveland. This property is also just 1.6 miles from Slavic Village one of the most demanded areas in Cleveland. The property consists of two, three bedroom apartments.located side by side within the same building. Both apartments have been made rental ready inside and both will have brand new tenants in place when the new owner closes on the property paying $650 each in rent each month. This property is under management by a great local Cleveland property management company.

Kinsman is viewed as a very central location in Cleveland Ohio, it is just 4.8 miles from Downtown Cleveland, just 3.3 miles from the University Circle. The property is also just 1.6 miles from Slavic Village. Slavic Village is going through large development projects. This is one of the most up and coming areas in the City and in huge demand by investors.

Property Details

• Six bedrooms.

• Two Bathrooms.

• 2,412 sqft built.

• 5,280 sqft lot.

• Fully managed.

• Local staff.

• Garden.

• Tenanted.

Investment Calculation

Purchase price: 46,900

Gross annual rental income: $15,600

Property running costs: $3,232
(Tax, insurance and management costs)

Net annual rental income: $12,368

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

Return on investment: 27%

Break even in 3.70 Years

Detail

Price: 46,900

Net Return: 27%

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