Five Bedroom House (ref. 41700056) - Houses for Sale, Real Estate - Number of Bedrooms: 5, Number of Bathrooms: 3 - Cuyahoga, Ohio, United States

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Five Bedroom House (ref. 41700056)
Date & Time Listed: 2024-03-04 20:58:26 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This large multi-family home is located on a very nice street in South- Collinwood, the house is situated
in Nottingham which is the most sought after exclusive part of South Collinwood. Properties in this area
rarely come onto the rental market for investors and this house will sell within hours not days.
The property is divided into two large apartments, you have a large two bedroom apartment downstairs
and a large three bedroom, 2 Bathroom apartment upstairs, The apartment downstairs has a tenant in
place paying $800 in rent each month, The apartment upstairs needs some minor cosmetic repairs to be
made rental ready, The funds are included in the price and the works will begin as soon as the new
owner closes on the property. When complete the management company will place a brand new tenant.
The apartment should achieve $1,000 – $1,100 in rent each month. The tenant could be Section 8.
Nottingham in South Collinwood is seen as a very strong investment area in Cleveland, The property is
just 2 miles to The Waterloo Arts District, A funky, indie community, with lots of cool little galleries and
studios. You can hear live music at one of the best venues in the country or browse an awesome indie
music store. The coffee shops roasts all their own beans, and there are plenty of great places to eat
within a five-minute drive. just 15 minutes east of Downtown Cleveland.
Investment Calculations
Purchase price
$94,900
Gross annual rental income:
$22,800
Property running costs:(Tax, insurance and management costs)
$4,361
Net annual rental income:
$18,439
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
20%
Break even in
5 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 5
Number of Bathrooms: 3

Price: 94,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 3
Posted From: United States, Ohio, Cuyahoga