Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This two apartment multi family home is located on a very nice street in the sought after area of South-Collinwood, it is just five minutes from the Lakeshore and three minutes and less than a mile from Collingwood High School, one of the best schools in Cleveland. The property is divided into two large apartments, you have a large two bedroom apartment upstairs and a large two bedroom apartment downstairs. The property has tenants in place in both apartments. Both tenants are Section 8 housing so the total rental income of $1,695 each month is paid direct to the landlord via the US Government.

South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The property is just 0.8 miles and walking distance to Collinwood High School one of the best schools in Cleveland. This is one of our most demanded areas by investors

Investment Details

Purchase price: 64,900

Gross annual rental income: $20,340

Property running costs: $3,500
(Tax, insurance and management costs)

Net annual rental income: $16,848

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

Return on investment: 26%

Break even in 3.84 Years

Key Information

Property ID: 40106500
Location: USA, Ohio, Cuyahoga County, City of Cleveland
Categories:
  • House
  • Townhouse
Bedrooms: 4
Bathrooms: 2
Price:
  • £52,805
  • €60,140
  • $64,900
Short Description:

This huge four bedroom multi unit is a rare find at $64,900..