Cleveland – $53,900

Net Return – 20%

Cleveland – $53,900 Array, Array

53,900

Description

This large multi-family home is located on a nice street in Corlett and is lust 2 streets and only a five minute walk to John Adams College, one of the leading schools in Cleveland. The property is divided into two large two bedroom apartments, you have a large two bedroom apartment upstairs and a large two bedroom apartment downstairs. The property has just been refurbished throughout and made rental ready, The management company will be placing brand new tenants when the new owner closes on the property paying $550 each in rent per month. The property also has recently had a new roof fitted.

Corlett is viewed as a very central location in Cleveland Ohio, it is just 6.8 miles from Downtown and 5.1 miles from University Circle. Also just 2 miles away you have Lee Harvard shopping centre. The property is also just walking distance to John Adams College, one of best schools in Cleveland..

Property Details

• Four bedrooms.

• Two bathrooms.

• 1,824 sqft built.

• 4,305 sqft lot.

• Fully managed.

• Local staff.

• Garden.

• Tenanted.

Investment Calculation

Purchase price: 53,900

Gross annual rental income: $13,200

Property running costs: $2,820
(Tax, insurance and management costs)

Net annual rental income: $10,380

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

Return on investment: 20%

Break even in 5 Years

Detail

Price: 53,900

Net Return: 20%

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