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Three Bedroom House (ref. 41642044)
Date & Time Listed: 2023-08-31 10:00:35 (GMT)
This fantastic three bedroom single family home is located in Cleveland Heights which
is arguably one of the nicest suburbs in Cleveland. The property is also only a 5 minute
walk to Monticello Middle School.
The property is very spacious with 3 large bedrooms on a nice plot with a detached
double garage. The property currently has tenants in place paying $900 each month.
The average rents for this type of property in this location is closer to $1,200 each
month. The new owner can easily increase the rent should the tenant move in the
Situated “up the hill” from University Circle, one of the largest employment centres in
Northeast Ohio, Cleveland Heights is one of the most desirable suburbs for buyers
and renters alike. Cleveland Heights has many galleries, performing arts and live
music venues. This near-east neighbourhood dishes up fat slices of the American
Dream, with beautiful old homes on tree-lined streets within close proximity to thriving
commercial strips, parks, schools, libraries and public transportation. A great place to
invest with potential huge future capital appreciation.
Purchase price: 114,900
Gross annual rental income: $10,800
Property running costs: $3,845
(Tax, insurance and management costs)
Net annual rental income: $6,955
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 7%
Break even in 14.2 Years
This property is a Townhouse for sale.
Number of Bedrooms: 3
Number of Bathrooms: 1
Price: 114,900.00 USD
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