Five Bedroom House (ref. 41693266) - Houses for Sale, Real Estate - Number of Bedrooms: 5, Number of Bathrooms: 3 - Cuyahoga, Ohio, United States

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Five Bedroom House (ref. 41693266)
Date & Time Listed: 2023-08-31 10:01:57 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This large three apartment multi-family home is located in Mount Pleasant and is is right next
to Shaker Heights. The house is also just 1.5 miles from the famous Shaker Heights High
School. Shaker Heights is one of the most demanded and prestigious areas in Cleveland.
The property is divided into three spacious apartments, you have two large two bedroom
apartments and a one bedroom attic apartment. The property has a long term tenant in place
in one apartment paying $625 in rent each month. The remaining two apartments are vacant
and need some cosmetic repairs to bring them up to a good rental ready standard. The works
will begin as soon as the new owner closes on the property and are included in the price.
Once completed the management company will place brand new tenants. One apartment
should achieve $800 in rent each month and the second $550 – $600 in rent each month.
Mount Pleasant is seen as a very strong investment area in Cleveland, less than 2 miles away
you have the famous Shaker Square which is one of the biggest attractions in Cleveland. The
house is also just bordering on the famous Shaker Heights, one of the most desirable areas in
Cleveland. The house is just 1.5 miles from Shaker Heights High School.
Investment Calculations
Purchase price
$88,900
Gross annual rental income:
$24,300
Property running costs:(Tax, insurance and management costs)
$4,530
Net annual rental income:
$19,770
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
23%
Break even in
4.34 Years
This property is a House for sale.

Other Details:

Number of Bedrooms: 5
Number of Bathrooms: 3

Price: 88,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3
Posted From: United States, Ohio, Cuyahoga