Property for sale in City of Cleveland - 41708584 - Advertised on propertyO by Global Investments Incorporated

House for sale

£67,853

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41708584


Property description

This great single family home is located on a nice street in Corlett and is less than a mile and
minutes from John Adams College, one of the leading schools in Cleveland.
There are four bedrooms, one bathroom a full basement and a large garden. The property
will be renovated by Global Investments best contractors and will be supplied rent ready to a
Section 8 standard. The works will begin after the new owner closes on the property, when
complete the management company will place brand new vetted tenants. The house should
achieve $1,250 – $1,700 in rent each month based on the current Sectiopn 8 rates. The house
once renovated will have an ARV of approx $100,000 giving the new owner immediate equity
in the property.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7 miles from
Downtown and 5 miles from University Circle. Also less than 2 miles away you have Lee
Harvard shopping centre. The property is also just walkimg distance to John Adams College,
one of the best schools in Cleveland.

Investment Calculations
Purchase price
$79,900
Gross annual rental income:
$20,400
Property running costs:(Tax, insurance and management costs)
$3,294
Net annual rental income:
$17,016
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

21%

Break even in

4.76 Years.

Contact Global Investments Incorporated about this property

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