Global Property Guide

Financial Information for the Residential Property Buyer


Full Description

This lovely two apartment multi family home is located on a nice street in Corlett and is just 1.4 miles and five minutes from John Adams College, one of the leading 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. The total monthly rental income for both apartments is $1,150 each month. This property is under management by a great local company.

Corlett is viewed as a very central location in Cleveland Ohio, it is just 7.7 miles from Downtown and 5.5 miles from University Circle. Also just 1 mile away you have Lee Harvard shopping centre. The property is also just five minutes to John Adams College, one of the best schools in Cleveland..


Investment Calculation

Purchase price: 57,900

Gross annual rental income: $13,800

Property running costs: $3,286
(Tax, insurance and management costs)

Net annual rental income: $10,514

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

Return on investment: 19%

Break even in 5.26 Years

Key Information

Property ID: 41347093
Location: USA, Ohio, Cuyahoga County, City of Cleveland
  • House
  • Townhouse
Bedrooms: 4
Bathrooms: 2
  • £43,438
  • €48,570
  • $57,900
Short Description:

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