Residential Property for sale

This fantastic large three bedroom house is located on a nice street in Union –
Miles Park which is a great neighbourhood in Cleveland, this area is close to
Mount Pleasant and Slavic Village. It is also just a few minutes from John Adams
College And Career Academy, which is one of the best schools in Cleveland.
There are three large bedrooms, one and a half bathrooms a full basement a
detached garage and a large rear garden. There are also long term tenants in
place paying $800 rent a month .This property is under management by a local
Cleveland property management company.

Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just
6 miles from Downtown and 5 miles from University Circle. University Circle has
the highest concentration of cultural attractions and performing arts venues in the
whole of the US. The house is also just a short walk to John Adams College And
Career Academy, which is one of the best schools in Cleveland.

Investment Calculation

Purchase price: $47,900

Gross annual rental income: $9,600

Property running costs: $2,210
(Tax, insurance and management costs)

Net annual rental income: $7,390

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

Return on investment: 16%

Break even in 6.25 Years