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Four Bedroom House (ref. 41700292)
Date & Time Listed: 2024-01-18 13:59:16 (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 two apartment multi family home is located on a very nice street in the sought
after area of South-Collinwood, it is just five minutes from the Lakeshore and less than a mile to
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. The house has a brand new roof, new
furnaces & new hot water tanks. The property also has tenants in place in both apartments
paying $700 in rent each month. The market rent is closer to $850 in rent each month.
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 right next to Mark Tromba Park which has just undergone an extensive $1.2M
renovation. Site improvements included a new splash pad, new play structures and equipment,
a new public art piece, a new reconfigured parking lot, two resurfaced basketball courts, and a
resurfaced tennis court.
Investment Calculations
Purchase price
$89,900
Gross annual rental income:
$16,800
Property running costs:(Tax, insurance and management costs)
$3,578
Net annual rental income:
$13,222
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
15%
Break even in
6.6 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 89,900.00 USD




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