This fantastic two bedroom single family home is located on a nice street in St.Clair-Superior which is just 2.7 miles to Downtown Cleveland. Properties close to the City rarely come onto the market at the right price as there is huge potential for future capital appreciation. The property has two bedrooms, one bathroom, a full basement and a large rear garden. The property was recently updated property and has tenants in place paying $900 in rent each month. The house is under management with a great local Cleveland property management company. St.Clair-Superior is an extremely well located suburb which is just 2.7 miles East of the centre of downtown. The property is very close to Burke Lakefront Airport just to the North. Due to the proximity of the City and every amenity possible this area is very highly demanded for rentals.
Investment Calculations
Purchase price
$48,900
Gross annual rental income:
$10,800
Property running costs:(Tax, insurance and management costs)
$2,431
Net annual rental income:
$8,369
Investment calculation - Net Income divided by Purchase price = NET ROI.