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Four Bedroom House (ref. 40049271)
Date & Time Listed: 2020-02-24 10:50:44 (GMT)
This fantastic two apartment multi family home is located on a nice street in Corlett and is less than one mile and just two 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. The property has just been renovated to Section 8 standard. If the buyer wishes the management company can place Section 8 tenants when they close on the property. The rent for each tenant would be $600 and is paid direct to the landlord via the US Government. The property is managed by a great local management company.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7.2 miles from Downtown and 4.9 miles from University Circle. The property is also just 3 miles from Garfield Heights and right next to Garfield park Reservation, one of the nicest areas in Cleveland.
Purchase price: 56,900
Gross annual rental income: $14,400
Property running costs: $3,054
(Tax, insurance and management costs)
Net annual rental income: $11,346
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%
Break even in 5 Years
This property is a Townhouse for sale.
Number of Bedrooms: 4
Number of Bathrooms: 2
Price: 56,900.00 USD
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