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 two 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 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 $600 in rent each month, the property is under management with a great local Cleveland management company. .

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 Calculation
Purchase price: 52,900

Gross annual rental income: $14,400

Property running costs: $3,332
(Tax, insurance and management costs)

Net annual rental income: $11,068

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

Return on investment: 21%

Break even in 4.76 Years

Key Information

Property ID: 41338072
Location: USA, Ohio, Cuyahoga County, City of Cleveland
Categories:
  • House
  • Townhouse
Bedrooms: 4
Bathrooms: 2
Price:
  • £39,687
  • €44,370
  • $52,900
Short Description:

This huge four bedroom multi unit is a rare find at $52,900..