Five Bedroom House (ref. 41696429) - 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. 41696429)
Date & Time Listed: 2024-03-04 20:53:40 (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 large two apartment multi family home is located on a nice street in Forest Hills close to
the shores of Lake Erie and is less than a mile from Glenville 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. Both apartments have tenants in
place, one paying $575 in rent each month and the other paying $600 in rent each month.
The current market rent for each apartment is $750 each month. The house 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 2 miles to Forest Hills Park, a historic urban park that was a
portion of John D. Rockefeller’s estate. The 248-acre (1.00 km2) park has six baseball
diamonds (four lit), six lit tennis courts and three walking trails that have retained the natural
green space.
Investment Calculations
Purchase price
$64,900
Gross annual rental income:
$14,100
Property running costs:(Tax, insurance and management costs)
$2,910
Net annual rental income:
$11,190
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
18%
Break even in
5.5 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 5
Number of Bathrooms: 2

Price: 64,900.00 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