Six Bedroom House (ref. 41699265) - Houses for Sale, Real Estate - Number of Bedrooms: 6, Number of Bathrooms: 2 - Cuyahoga, Ohio, United States

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Six Bedroom House (ref. 41699265)
Date & Time Listed: 2024-03-04 20:56:45 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 6, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga

Ad Details:

A fantastic opportunity to purchase two detached refurbished three bedroom single family homes
located in the heart of Asiatown Cleveland. Both houses sit next to each other and are just 1 mile
to Downtown Cleveland. Properties very rarely come onto the market in this location, in fact just 1
other property is currently for sale at this time which is a 2 bedroom apartment for $299,900 ( See
page 10 of this brochure ). Both of these houses could achieve a large capital appreciation in the
coming 5 – 10 years.
Both houses have three large bedrooms, one bathroom, a large lounger diner and a basement.
They are also situated opposite a beautiful Church. Included in the price are the necessary building
repairs needed to bring both houses up to a good rental ready standard. 1430 E 33rd needs approx
$20,000 spent and 1432 E 33rd just $5 – $8,000 spent. The works will begin as soon as the new
owner closes on the property and will be completed by one of Globals best contractors. When
completed each house should achieve $1,500 in rent per month. Due to the house being
extremely well located the new owner could also potentially market the property with Air B&B.
Goodrich-Kirkland Park is an extremely well located suburb which is just walking distance to the
centre of downtown. The property is very close to Burke Lakefront Airport just to the North. Due to
the proximity of the City and every amenity possible this area is very highly demanded for rentals.
Investment Calculations
Purchase price
$209,900
Gross annual rental income:
$36,000
Property running costs:(Tax, insurance and management costs)
$5,200
Net annual rental income:
$30,800
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: 6
Number of Bathrooms: 2

Price: 209,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 6, Number of Bathrooms: 2 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 6, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga