Cleveland – $51,900

Net Return – 20%

Cleveland – $51,900 Array, Array

51,900

Description

This large two apartment house is located on a nice street in Saint Clair- Superior just 3.2 miles from Downtown Cleveland. Saint Clair-Superior is close to the great lake, borderline lake properties offer lots of potential for future growth. The property is divided into two very large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. The property has recently had new furnaces, new hot water tanks, all new electrics and new vinyl siding fitted. The property comes with tenants in place that are both related and each tenant is paying $550 per month in rent. This is a great investment property and managed by a great local Cleveland management company.

Saint Clair-Superior is viewed as an up and coming area in Cleveland due to its close proximity to the lake, it is also just 3.2 miles from Downtown and 2.8 miles from University Circle. The University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.

Property Details

• Four bedrooms.

• Two Bathrooms

• 2,666 sqft built.

• 7,000 sqft lot.

• Fully managed.

• Local staff.

• Garden.

• Great location.

Investment Calculation

Purchase price: 51,900

Gross annual rental income: $13,200

Property running costs: $3,020
(Tax, insurance and management costs)

Net annual rental income: $10,180

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

Return on investment: 20%

Break even in 5 Years

Detail

Price: 51,900

Net Return: 20%

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