Property for sale in City of Cleveland - 41703479 - Advertised on propertyO by Global Investments Incorporated

House for sale

£64,456

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41703479


Property description

This large single family home is located on a very nice street in Woodland Hills, right next to
the Woodland Homes district just on the boarder of Buckeye Shaker. The house is just 2
miles from the entrance to the world famous Cleveland Clinic..
The property has three large bedrooms, One bathroom, a large lounge diner, a full basement
and a large rear garden. The house has just been refurbished and made rental ready and
also has a new driveway. The management company will place brand new tenants when the
new owner closes on the property. The house should achieve $1,200 – $1,400 in rent each
month based on current Section 8 rates. The property is under management with a great
local Cleveland property management company.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 5 miles from
Downtown Cleveland, just 2 miles from the University Circle & only 1 mile from Shaker
square. There are many new built homes being built in this area, increasing the value or
surrounding properties with a good potential for capital appreciation. New builds are selling
for over $300,000.

Investment Calculations
Purchase price
$75,900
Gross annual rental income:
$16,800
Property running costs:(Tax, insurance and management costs)
$3,268
Net annual rental income:
$13,532
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

18%

Break even in

5.5 Years.

Contact Global Investments Incorporated about this property

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