Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This fantastic three bedroom house is in a great location in Lee Miles. The property is only five minutes to John F Kennedy High School, which is one of the best high schools in Cleveland, it is also close to the the Lee Harvard Plaza. There are three bedrooms, a full basement , a detached garage and a large garden. The property has $7,000 included in the price for some cosmetic repairs needed to update the house and bring it up to a good rental ready standard. The management company will place brand new tenants when the new owner closes on the property paying $850 a month. This property is under management by a great local company.

Lee Miles is a very well kept busy area in the City of Cleveland, less five minutes away you will find the Lee Harvard Plaza which contains many of leading fast food chains. This area is surrounded by some of the very best neighbourhoods in Cleveland including Shaker Heights and Maple Heights.

Investment Details

Purchase price: 45,900

Gross annual rental income: $10,200

Property running costs: $2,270
(Tax, insurance and management costs)

Net annual rental income: $7,930

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

Return on investment: 18%

Break even in 5.5 Years

Key Information

Property ID: 40046945
Location: USA, Ohio, Cuyahoga County, City of Cleveland
Categories:
  • House
  • Townhouse
Bedrooms: 3
Bathrooms: 1
Price:
  • £36,926
  • €42,090
  • $45,900
Short Description:

This large three bedroom house is a rare find at $45,900