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Three Bedroom House (ref. 40955163)
Date & Time Listed: 2020-07-13 11:37:12 (GMT)
This large three bedroom single family home is located in the sought after area of Glenville, just five minutes from Glenville High School which is one of the best schools in Cleveland. There are three large bedrooms, one bathroom, a full basement and a large rear garden with a detached double garage. The property has just started being fully refurbished throughout to a Section 8 standard, the works will be completed in the next 2 -3 weeks. The management company will place Section 8 tenants paying $1,100 per month when the new owner closes on the property. The rent will be paid direct to the owner via the US Government.
Glenville is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines, bike trails, and allows access to the beach parks in the neighbourhoods on the Northside. It is also just 4.5 miles from Downtown and just 1.5 miles from the University Circle.
Purchase price: 54,900
Gross annual rental income: $13,200
Property running costs: $2,668
(Tax, insurance and management costs)
Net annual rental income: $10,532
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: 3
Number of Bathrooms: 1
Price: 54,900.00 USD
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