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Three Bedroom House (ref. 41592510)
Date & Time Listed: 2021-05-17 10:43:09 (GMT)
This large three bedroom single family home is located on a nice street in Forest Hills close to the shores of Lake Erie and is only a five minute drive from Glenville High School, one of the best schools in Cleveland. The property has 3 bedrooms, a full basement and a large rear garden. The property has tenants that have resided in the property for the last 15 years and wishes to stay paying $700 in rent each month. The property is under management with a great local Cleveland management company.
Forest Hills 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 and bike trails. The house is walking distance to Forest Hills Park, a historic urban park that was a portion of John D. Rockefeller’s estate. The 248-acre (1.00 km2) park has six baseball diamonds (four lit), six lit tennis courts and three walking trails that have retained the natural green space.
Purchase price: 43,900
Gross annual rental income: $8,400
Property running costs: $2,094
(Tax, insurance and management costs)
Net annual rental income: $6,303
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 15%
Break even in 6.6 Years
This property is a Townhouse for sale.
Number of Bedrooms: 3
Number of Bathrooms: 1
Price: 43,900.00 USD
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