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Three Bedroom House (ref. 41700927)
Date & Time Listed: 2024-02-08 15:11:50 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1
Posted From: United States, Ohio, Cuyahoga


Ad Details:

This fantastic three bedroom brick built single family home is located arguably the best
street in Forest Hills close to the shores of Lake Erie and is just a short walk to Glenville
High School, one of the best schools in Cleveland.
The property has three bedrooms, one and as half bathrooms, a full converted basement
and a large rear garden, it also was recently refurbished and has newer a hot water tank
and furnace. The house has tenants in place paying $1,100 in rent each month and is
under management with a great local Cleveland property 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 just 1.5 miles to the Famous Shoreby Club and the neighbouring
community Bratenahl. Bratenahl is one of the most exclusive residential areas in Cleveland
where properties can sell in the Millions.
Investment Calculations
Purchase price
$69,900
Gross annual rental income:
$13,200
Property running costs:(Tax, insurance and management costs)
$2,285
Net annual rental income:
$10,915
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
16%
Break even in
6.25 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 69,900.00 USD




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