Property for sale in City of Cleveland - 41700363 - Advertised on propertyO by Global Investments Incorporated

House for sale

£55,115

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41700363


Property description

This lovely three bedroom single family home is located in South Broadway which is
just 6 miles from Downtown Cleveland. This property is also in the heart of Broadway
Slavic Village just 1.4 Miles from the centre of Slavic Village, one of the most demanded
areas in Cleveland due to the new build homes increasing in the area.
The property has three bedrooms, one and a half bathrooms, a full basement and a
large rear garden. The property has tenants in place paying $1,000 in rent each month.
The tenants are Section 8 housing so the rent is paid direct to the landlord by the City
of Cleveland. The house is under management with a great local Cleveland property
management company.
This house in South Broadway is just 1.4 miles to the centre of Slavic Village which is
going through large development projects. This is one of the most up and coming areas
in the City and in huge demand by investors due to new build properties increasing the
value of the properties in the surrounding areas.

Investment Calculations
Purchase price
$64,900
Gross annual rental income:
$12,000
Property running costs:(Tax, insurance and management costs)
$2,735
Net annual rental income:
$9,265
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

15%

Break even in

6.6 Years.

Contact Global Investments Incorporated about this property

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