This fantastic large two bedroom single family home is located on a nice street in St.ClairSuperior which is just 2.8 miles to Downtown Cleveland. Properties close to the City rarely come onto the market at the right price as there is huge potential for future capital appreciation. The property has two large bedroom, a large lounger diner, a full basement and a large rear garden. The house has just been made rental ready to a Section 8 standard. The management company will place brand new tenants when the new owner closes on the property. The house should achieve $900 – $1,100 in rent each month. The tenants could be Section 8 or Private. St.Clair-Superior is an extremely well located suburb which is just 2.8 miles East of 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 $57,900 Gross annual rental income: $13,200 Property running costs:(Tax, insurance and management costs) $2,612 Net annual rental income: $10,588 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 19% Break even in 5.26 Years. This property is a House for sale.
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