Cleveland – $67,900

Net Return – 21%

Cleveland – $67,900 Array, Array

67,900

Description

This huge multi-family home is located on a nice street in Corlett and is less than one mile and just three minutes from John Adams College, one of the leading schools in Cleveland.

The property is divided into three large apartments, you have a large three bedroom apartment upstairs and a large two bedroom apartment downstairs.

Both apartments are tenant occupied keeping the property in great condition. The attic one bedroom apartment has just been fully refurbished and the management  company will shortly be placing brand new tenants paying $350 per Month when the new owner closes on the property.

Corlett is viewed as a very central location in Cleveland Ohio, it is just 7.4 miles from Downtown and 5.9 miles from University Circle. Also just 1.6 miles away you have Lee Harvard shopping centre. The property is also just walking distance to John Adams College, one of thing schools in Cleveland.

Property Details

• Six bedrooms.

• Three bathrooms

• 2,469 sqft built.

• 4,082 sqft lot.

• Fully managed.

• Local staff.

• Garden.

• Tenanted.

Investment Calculation

Purchase price: 67,900

Gross annual rental income: $17,400

Property running costs: $3,220
(Tax, insurance and management costs)

Net annual rental income: $14,180

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

Return on investment: 21%

Break even in 4.76 Years

Detail

Price: 67,900

Net Return: 21%

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