Property for sale in City of Cleveland - 41702193 - Advertised on propertyO by Global Investments Incorporated

House for sale

£63,607

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41702193


Property description

This fantastic four bedroom family home is located on a nice street in South Broadway which is just 6.8 miles
from Downtown Cleveland. This property is also next to Broadway Slavic Village just two miles from 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 bathroom, a full basement and a large rear garden. The property has a
brand new roof and all new windows. The house has just been vacated and needs some cosmetic repairs to be
brought up to a Section 8 rental ready standard. The funds are included in the price and the works will begin
as soon as the new owner closes on the property. When complete the management company will place a
brand new tenant. The house should achieve $1,250 – $1,500 in rent each month based on current Section 8
rates.
South Broadway is just 2 miles South 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. The house is also just bordering on
the famous Garfield Heights, one of the most desirable areas in Cleveland. The house is just 1.2 miles from
Garfield Heights High School.

Investment Calculations
Purchase price
$74,900
Gross annual rental income:
$18,000
Property running costs:(Tax, insurance and management costs)
$3,760
Net annual rental income:
$14,240
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

19%

Break even in

5.26 Years

Contact Global Investments Incorporated about this property

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