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House for sale

£71,250

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41700364

Property description

This large multi-family home is located on a nice street in Corlett and is just one mile
and four minutes from John Adams College, one of the leading schools in Cleveland.
The property is divided into two large apartments. You have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. The property also
has tenants in place in both apartments paying $700 in rent each month. The market
rent is closer to $750 – $850 in rent each month.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7 miles from
Downtown and 5 miles from University Circle. Also just 1.5 miles away you have Lee
Harvard shopping centre. The property is also just 4 minutes to John Adams College,
one of the best schools in Cleveland.

Investment Calculations

Purchase price

$83,900

Gross annual rental income:

$16,800

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

$3,144

Net annual rental income:

$13,656

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

Return of investment

17%