Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This large 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 just one mile from the entrance of Euclid Creek Reservation. The property is divided into two large apartments, you have a large two bedroom apartment downstairs and a large two bedroom apartment upstairs, The property also has a detached 2 car garage. Both of the apartments have been recently updated to a good standard and has new tenants in place each paying $700 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 1 mile from Euclid Creek Reservation, a beautiful nature trail full of natural wildlife, picnic areas and stunning scenery. A great family area that is close to the city and yet nature is all around you. This property is very well positioned in a very nice part of South-Collinwood.

Investment Calculation


Purchase price: 69,900

Gross annual rental income: $16,800

Property running costs: $3,480
(Tax, insurance and management costs)

Net annual rental income: $13,320

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

Return on investment: 20%

Break even in 5 Years

Key Information

Property ID: 41583983
Location: USA, Ohio, Cuyahoga County, City of Cleveland
Categories:
  • House
  • Townhouse
Bedrooms: 4
Bathrooms: 2
Price:
  • £51,478
  • €57,330
  • $69,900
Short Description:

This large four bedroom house is a rare find at $69,900..