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Four Bedroom House (ref. 41409823)
Date & Time Listed: 2020-11-19 11:07:43 (GMT)
This great two apartment multi family home is located on a very nice street in the sought after area of South-Collinwood, it is just two minutes from the Lakeshore and four 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,. Both apartments have been recently updated and there are good tenants now in place. The lower apartment is paying $650 in rent each month and the upper apartment is paying $600 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 1.4 miles to Collinwood High School one of the best schools in Cleveland. This is one of our most demanded areas by investors.
Purchase price: 57,900
Gross annual rental income: $15,000
Property running costs: $3,200
(Tax, insurance and management costs)
Net annual rental income: $11,800
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%
Break even in 4.76 Years
This property is a Townhouse for sale.
Number of Bedrooms: 4
Number of Bathrooms: 2
Price: 57,900.00 USD
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