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41703822 - Buy a House in USA, Ohio, Cuyahoga County, Cleveland

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Four bedroom house

Property Information

Type: House Property ID: 41703822
Location: Cleveland, USA Added on: 20 May 2024
Price: £83,139

Short Description

This four bedroom multi unit is amazing value at $97,900..

Key Information

  • Property ID: 41703822
  • Location: Cleveland
  • Property Type: House
  • Prices: £ 83,139 / € 94,975 / $ 97,900

Full Description

This large multi-family home is located on a very nice street in the best part of Woodland Hills,
just four minutes from the famous Shaker Square, one of the biggest attractions in Cleveland.
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 will be renovated by
Global Investments best contractors and will be supplied rent ready to a Section 8 standard.
When complete the management company will place brand new vetted tenants. Each apartment
should achieve $950 – $1,250 in rent each month. This house when renovated would appraise for
approx $120,000 – $130,000 which would give the new owner immediate equity in the property.
Woodland Hills is viewed as a very central location in Cleveland Ohio, it is just 5 miles from
Downtown Cleveland, just 4 miles from the University Circle. The house is in a great street near to
Luke Easter Park. The Park covers an area of 97.3 Acres and is popular for walking and family
activities. The park features sports facilities such as a basketball court, a tennis court, a baseball
court, a multi-sport court, a swimming pool and an abundance of natural scenery.

Investment Calculations
Purchase price
$97,900
Gross annual rental income:
$30,000
Property running costs:(Tax, insurance and management costs)
$4,610
Net annual rental income:
$25,390
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

26%

Break even in

3.84 Years.

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  • House
  • 4 bedrooms
  • USA
  • Cleveland
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