Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This large multi-family home is located in Mount Pleasant and is only eight 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 have just been updated and made rental ready, the management company have already placed one tenant paying $550 per month and they will place a brand new tenant in the second unit when the new owner closes on the property, this tenant will paying $600 per month.

Mount Pleasant is seen as a very strong investment area in Cleveland, less than 1.8 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 Details

Purchase price: 51,900

Gross annual rental income: $13,800

Property running costs: $2,994
(Tax, insurance and management costs)

Net annual rental income: $10,806

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

Return on investment: 21%

Key Information

Property ID: 39118740
Location: USA, Ohio, Cuyahoga County, City of Cleveland
Categories:
  • House
  • Townhouse
Bedrooms: 4
Bathrooms: 2
Price:
  • £42,466
  • €47,260
  • $51,900
Short Description:

This large four bedroom house is a rare find at $51,900...