Property for sale in City of Cleveland - 41706170 - Advertised on propertyO by Global Investments Incorporated

House for sale

£78,044

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41706170


Property description

This fantastic large 3 bedroom single-family home is located in in a very nice street close to
the town centre of Elyria. Elyria, Ohio is 23 miles and just 30 minutes SW of Cleveland,
Ohio. It’s situated in northeastern Ohio in Lorain county.
The property has three bedrooms, one bathroom, a full basement and a large rear garden.
The property has tenants in place paying $1,250 in rent each month. The tenants are
Section 8 housing so the rent is paid direct to the landlord by the City. The house is under
management with a great local Elyria property management company.
The property is just 1.8 miles to Downtown Elyria. Downtown Elyria has an abundance of
amenities such as grocery stores, restaurants and coffee shops. Top attractions in Elyria
include the Black River Reservation,The Hickories Museum & The Midway Mall, a 1.1
million square foot regional shopping mall that people drive from Cleveland City to visit.

Investment Calculations
Purchase price
$91,900
Gross annual rental income:
$15,000
Property running costs:(Tax, insurance and management costs)
$3,566
Net annual rental income:
$11,434
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

13%

Break even in

7.69 Years.

Contact Global Investments Incorporated about this property

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