Property for sale in City of Cleveland - 41702808 - Advertised on propertyO by Global Investments Incorporated

House for sale

£52,567

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41702808


Property description

This two bedroom single family home is located in Broadway/Slavic Village which is just 5
miles from Downtown Cleveland. This property is also less than one mile from the centre of
Slavic Village and right on the border of Newburgh Heights, a very affluent area of Cleveland.
The property has two bedrooms, one bathroom, a full basement and a large side garden. The
property has tenants in place paying $1,000 in rent each month. The tenants have resided in
the house for 2 years. The house is under management with a great local Cleveland property
management company.
Broadway/Slavic Village 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
$61,900
Gross annual rental income:
$12,000
Property running costs:(Tax, insurance and management costs)
$2,939
Net annual rental income:
$9,061
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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