Five Bedroom House (ref. 41695176) - Houses for Sale, Real Estate - Number of Bedrooms: 5, Number of Bathrooms: 2 - Cuyahoga, Ohio, United States

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Five Bedroom House (ref. 41695176)
Date & Time Listed: 2024-03-04 20:51:20 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This fantastic large brick built 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
situated directly opposite 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 three bedroom apartment upstairs. The house has a tenant in place in
the two bedroom apartment paying $650 in rent each month, the market rent is $750. The
second 3 bedroom apartment has just been vacated and included in the price are some
cosmetic repairs needed to update the apartment and make it rental ready. The works will
begin as soon as the new owner closes own the property, when complete the management
company will place brand new tenants. The apartment should achieve $850 – $900 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 is in a very desirable street sitting directly opposite
Collinwood High School one of the best schools in Cleveland.
Investment Calculations
Purchase price
$99,900
Gross annual rental income:
$18,600
Property running costs:(Tax, insurance and management costs)
$3,260
Net annual rental income:
$15,340
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: 5
Number of Bathrooms: 2

Price: 99,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 2 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga