Property for sale in City of Cleveland - 41707244 - Advertised on propertyO by Global Investments Incorporated

House for sale

£76,345

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41707244


Property description

This lovely three bedroom single family home is located on a nice street in Old Brooklyn on the
Westside of Cleveland, Old Brooklyn is a very desirable area in Cleveland where new construction
single family homes fetch over $400,000. The house is just 1 mile from Cleveland Metroparks Zoo
and food court.
There are three large bedrooms, one bathrooms, a full basement, and a large garden. The
property has private tenants in place paying $850 in rent each month. The market rent in this
location can reach up to $1,500 The market value for this property is closer to $120,000 –
$140,000 giving the new owner immediate equity in the property.
Old Brooklyn is located on the Westside and viewed as a very central location in Cleveland Ohio, it
is just 7 miles from Downtown Cleveland and only 4 miles from Detroit Shoreway which is one of
the best areas in Cleveland. The property is also only 1 mile from Cleveland Metroparks Zoo and
food court which is a lovely family area of Cleveland.

Investment Calculations
Purchase price
$89,900
Gross annual rental income:
$10,200
Property running costs:(Tax, insurance and management costs)
$3,415
Net annual rental income:
$6,785
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

8%

Break even in

12.5 Years

Contact Global Investments Incorporated about this property

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