Cleveland – $53,900

Net Return – 17%

Cleveland – $53,900 Array, Array

53,900

Description

This large three bedroom single family home is located on a nice street in Clark Fulton on the Westside of Cleveland, the house is less than 1 mile from Thomas Jefferson Elementary, one of the best schools in Cleveland. The property has four large bedrooms, two bathrooms a large kitchen and a full basement. The property was recently updated throughput and there are now tenants in place that are paying $900 in rent each month. The property is under management by a great local Cleveland management company.

Clark Fulton is located on the Westside and viewed as a very central location in Cleveland Ohio, it is just 5 miles from Downtown Cleveland and only 2.2 miles from Detroit Shoreway which is one of the best areas in Cleveland. The property is also only 2 miles from Cleveland Metroparks Zoo and food court which is a lovely family area of Cleveland.

Property Details

• Four bedrooms.

• Two bathrooms.

• 968 sqft built.

• 3,698 sqft lot.

• Fully managed.

• Local staff.

• Garden.

• Tenanted.

Investment Calculation

Purchase price: 53,900

Gross annual rental income: $10,800

Property running costs: $2,138
(Tax, insurance and management costs)

Net annual rental income: $8,662

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

Return on investment: 17%

Break even in 5.8 Years

Detail

Price: 53,900

Net Return: 17%

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