Four bedroom house City of Cleveland, Cuyahoga County, Ohio, USA 4 Bed House £59,361 | €67,811 | $69,900 Request a Currency Exchange Quote Here

This four bedroom house is amazing value at $69,900..

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Property Description ID:41653402

This large multi-family home is located in Mount Pleasant and is only six minutes from
the famous Shaker Square. Shaker Square is one of the biggest attractions in
Cleveland and is full of restaurants, bars, boutiques and even has a cinema.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. Both apartments
are in the process of being updated to a good standard and made rental ready. The
remaining cosmetic repairs will be completed after the new owner closes on the
property. When completed the management company will place bran new vetted
tenants. Each unit should achieve $700 – $750 in rent each month.

Mount Pleasant is seen as a very strong investment area in Cleveland, less than 2.4
miles away you have the famous Shaker Square which is one of the biggest
attractions in Cleveland. Shaker Square is full of restaurants, bars, boutiques and
even has a cinema. This property is also only 5.5 miles from Downtown and 3.9 miles
from the University Circle.

Investment Calculation

Purchase price: $69,900

Gross annual rental income: $18,000

Property running costs: $3,514
(Tax, insurance and management costs)

Net annual rental income: $14,486

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 21%

Break even in 4.76 Years
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