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Four Bedroom House (ref. 41701033)
Date & Time Listed: 2024-03-04 20:58:38 (GMT)
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Ad Details:
This large two apartment multi-family home is located in North Collinwood, less than 2 miles to the Waterloo Art
District in North Collinwood, right next to the Lakefront and close to the new Amazon facility. The Waterloo
District is known as a bustling area with art studios, entertainment, restaurants, bars and retail, it is the place to
go out on the Eastside of Cleveland.
The property is divided into two large apartments. You have a large two bedroom apartment downstairs and a
large two bedroom apartment upstairs. The property has a tenant in place in one apartment paying $800 in rent
each month. The second apartment 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 tenants paying $800 – $900 in rent each month.
The Waterloo Arts District is 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 ten minutes
to downtown Cleveland, the Lakefront is also just five minutes away.
Investment Calculations
Purchase price
$119,900
Gross annual rental income:
$20,400
Property running costs:(Tax, insurance and management costs)
$10,908
Net annual rental income:
$9,492
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
24%
Break even in
4.16 Years.
This property is a House for sale.
Other Details:
Number of Bedrooms: 4
Number of Bathrooms: 2
Price: 119,900.00 USD
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