Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This fantastic three bedroom, two bathroom house is located in the highly sought after area
of North Collingwood right next to the famous Euclid Beach Park.
The property has three spacious bedrooms, two bathrooms, a large lounge diner, a very
nice kitchen with a full basement and a large garden.
There are good long term tenants in place keeping the property in great condition paying
$750 in rent each month. This rent is much lower than the average for this location so
should the tenant ever leave in the future the rent could easily be increased. The house is
under management with a great local Cleveland property management company.

North-Collinwood is seen as a very strong investment area in Cleveland, the city is
investing millions into a neighbourhood makeover. Also Alan Glazen a retired advertising
executive is the driving force behind Project Light Switch. Alan wishes to turn North
Collinwood into Cleveland’s premier music and entertainment district with concert venues,
music stores, restaurants, bars, a bocce court and, hopefully, boutique hotels. The
potential for capital growth in the coming years for North Collinwood is very high.

 

Investment Calculation

Purchase price: 62,900

Gross annual rental income: $9,000

Property running costs: $2,400
(Tax, insurance and management costs)

Net annual rental income: $6,600

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

Return on investment: 11%

Break even in 9.09 Years

Key Information

Property ID: 41603331
Location: USA, Ohio, Cuyahoga County, City of Cleveland
Categories:
  • House
  • Townhouse
Bedrooms: 3
Bathrooms: 2
Price:
  • £46,323
  • €51,590
  • $62,900
Short Description:

This large three bedroom house is a rare find at $62,900..