This two bedroom single family home is located on a nice street in Broadway/Slavic Village which is just 4 miles from Downtown Cleveland. This property is also less than one mile from the centre of Slavic Village and right on the border of Newburgh Heights, a very affluent area of Cleveland. The property has two bedrooms, one bathroom, a full basement and a rear garden. The property has tenants in place paying $700 in rent each month. The house is under management with a great local Cleveland property management company. Broadway/Slavic Village is going through large development projects. This is one of the most up and coming areas in the City and in huge demand by investors due to new build properties increasing the value of the properties in the surrounding areas. The house is also less than half a mile and a short walk from the brand new Amazon fulfilment centre and latest acquisition of the 1.273-acre site of the former Mound Elementary School on Mound Avenue at East 55th Street. Investment Calculations Purchase price $41,900 Gross annual rental income: $8,400 Property running costs:(Tax, insurance and management costs) $2,140 Net annual rental income: $6,260 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.
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