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House for sale

£55,115

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41696824

Property description

This large three bedroom single family home is located in the sought after area of
Glenville, less than one mile from Glenville High School which is one of the best
schools in Cleveland.
The property has recently been refurbished and includes new carpets and paint,
new doors, and a new kitchen and bathroom. The houses is structurally very
sound and has a large dry basement. The property now has a Section 8 tenant in
place paying $1,000 in rent each month.
The house is also under management with a great local Cleveland management
company.

Glenville is seen as a very strong investment area in Cleveland, it is close to the
Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing
for bus lines, bike trails, and allows access to the beach parks in the
neighbourhoods on the Northside. It is also just 4.7 miles from Downtown and just
2.3 miles from the University Circle.

Investment Calculations

Purchase price

$64,900

Gross annual rental income:

$12,000

Property running costs:(Tax, insurance and management costs)

$2,500

Net annual rental income:

$9,500

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

Return of investment

15%