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41703986 - Buy a House in USA, Ohio, Cuyahoga County, City of Cleveland

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Five bedroom house

Property Information

Type: House Property ID: 41703986
Location: City of Cleveland, USA Added on: 24 May 2024
Price: £93,330

Short Description

This five bedroom multi unit is amazing value at $109,900..

Key Information

  • Property ID: 41703986
  • Location: City of Cleveland
  • Property Type: House
  • Prices: £ 93,330 / € 106,616 / $ 109,900

Full Description

This large multi-family home is located on a very nice street in South- Collinwood, the house is situated
in Nottingham which is the most sought after exclusive part of South Collinwood. Properties in this
area rarely come onto the rental market for investors and this house will sell within hours not days.
The property is divided into two large apartments, you have a large two bedroom apartment
downstairs and a large three bedroom, 2 Bathroom apartment upstairs, The second apartment has just
been updated inside and made rent ready. The management company already has a Section 8 tenant
ready to move into the apartment and is just waiting on the City to finalise the paperwork. The rent for
this apartment is $950 each month and is paid direct to the landlord via the City of Cleveland.
Nottingham in South Collinwood is seen as a very strong investment area in Cleveland, The property is
just 2 miles to The Waterloo Arts District, A funky, indie community, with lots of cool little galleries and
studios. You can hear live music at one of the best venues in the country or browse an awesome indie
music store. The coffee shops roasts all their own beans, and there are plenty of great places to eat
within a five-minute drive. just 15 minutes east of Downtown Cleveland.

 

Investment Calculations
Purchase price
$109,900
Gross annual rental income:
$20,400
Property running costs:(Tax, insurance and management costs)
$11,088
Net annual rental income:
$9,312
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

24%

Break even in

4.16 Years.

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  • House
  • 5 bedrooms
  • USA
  • City of Cleveland
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