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Four Bedroom House (ref. 41272194)
Date & Time Listed: 2020-08-31 11:10:47 (GMT)
This fantastic two apartment 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 five minutes from Collingwood High School, one of the best 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 good tenants in both apartments and the total monthly rental income is $1,050 The property is under management by 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 house is only 1.3 miles 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.
Purchase price: 49,900
Gross annual rental income: $12,600
Property running costs: $3,160
(Tax, insurance and management costs)
Net annual rental income: $9,440
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years
This property is a Townhouse for sale.
Number of Bedrooms: 4
Number of Bathrooms: 2
Price: 49,900.00 USD
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