Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This fantastic two apartment multi family home is located on a nice street in South Broadway which is just 6.4 miles from Downtown Cleveland. The property also boarders and is literally yards from Garfield Heights and just 1.2 miles from Garfield Heights High School. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs. There are great tenants already in place in both apartments keeping the property in great condition. Both tenants are paying $550 in rent each month, the property is under management with a great local Cleveland management company.

South Broadway is viewed as a very central location in Cleveland Ohio, it is just 6.4 miles miles from Downtown and 5.9 miles from University Circle. The property is also literally just yards from Garfield Heights, one of the best areas in the whole of Cleveland and in huge demand by renters and investors alike. The property is just 1.2 miles from Garfield Heights High School and just 1.8 miles from Garfield Park Reservation.

 

Investment Calculation


Purchase price: 57,900

Gross annual rental income: $13,200

Property running costs: $3,220
(Tax, insurance and management costs)

Net annual rental income: $9,980

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

Return on investment: 18%

Break even in 5.5 Years

Key Information

Property ID: 41332152
Location: USA, Ohio, Cuyahoga County, City of Cleveland
Categories:
  • House
  • Townhouse
Bedrooms: 4
Bathrooms: 2
Price:
  • £43,438
  • €48,570
  • $57,900
Short Description:

This huge four bedroom multi unit is a rare find at $57,900..