This fantastic three bedroom brick built single family home is located arguably the best street in Forest Hills close to the shores of Lake Erie and is just a short walk to Glenville High School, one of the best schools in Cleveland. The property has three bedrooms, one and as half bathrooms, a full converted basement and a large rear garden, it also was recently refurbished and has newer a hot water tank and furnace. The house has tenants in place paying $1,100 in rent each month and 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 1.5 miles to the Famous Shoreby Club and the neighbouring community Bratenahl. Bratenahl is one of the most exclusive residential areas in Cleveland where properties can sell in the Millions. Investment Calculations Purchase price $69,900 Gross annual rental income: $13,200 Property running costs:(Tax, insurance and management costs) $2,285 Net annual rental income: $10,915 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 16% Break even in 6.25 Years. This property is a House for sale.
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