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Four Bedroom House (ref. 41645566)
Date & Time Listed: 2022-07-28 11:14:36 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga


Ad Details:

This fantastic large multi-family home is located in Buckeye Shaker and is only three
minutes and walking distance from the centre of the famous Shaker Square. Shaker
Square is one of the biggest attractions in Cleveland and is full of restaurants, bars,
boutiques and even has a cinema.
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 a good long term tenant in place in both apartments paying $550 each
month in rent. The rent is below the current market rate of $750 for these apartments in
this location. Should either tenant leave in the future the rent could be increased,.
Buckeye Shaker is seen as a very strong investment area in Cleveland, less than 1 mile
away you have the famous Shaker Square. The house is also just a short walk to
Larchmere Blvd which is host to a multitude of many quality cafe’s, restaurants, beauty
salons, fashion shops and many small businesses. This house is extremely well located.
Investment Calculation
Purchase price: 67,900
Gross annual rental income: $13,200
Property running costs: $2,682
(Tax, insurance and management costs)
Net annual rental income: $10,518
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%
Break even in 6.25 Years
This property is a Townhouse for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 67,900.00 USD




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