Cleveland – $54,900

Net Return – 22%

Cleveland – $54,900 Array, Array

54,900

Description

This large multi-family home is located on a nice street in the sought after area of South-Collinwood, it is just five minutes from the Lakeshore and four minutes and a short walk to Collingwood High School, one of the best schools in Cleveland. The property is divided into two very large apartments, you have a large two bedroom apartment upstairs and a large two bedroom apartment downstairs. The property has just been updated and the management company will be placing brand new tenants when the new owner closes on the property paying $625 in rent each month.

South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The property is just 2 miles and just 5 minutes from the famous Euclid Avenue where you will find many shops, restaurants, hotel chains & the town hall. This is one of our most demanded areas by investors.

Property Details

• Four bedrooms. • Two Bathrooms • 1,678 sqft built. • 2,905 sqft lot. • Fully managed. • Local staff • Garden. • Tenanted.

Investment Calculation

Purchase price: 54,900

Gross annual rental income: $15,000

Property running costs: $3,200
(Tax, insurance and management costs)

Net annual rental income: $11,800

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

Return on investment: 22%

Break even in 4.54 Years

Detail

Price: 54,900

Net Return: 22%

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