Four Bedroom House (ref. 41701483) - Houses for Sale, Real Estate - Number of Bedrooms: 4, Number of Bathrooms: 2 - Cuyahoga, Ohio, United States

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Four Bedroom House (ref. 41701483)
Date & Time Listed: 2024-03-04 20:58:46 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This large two apartment multi family home is located on a nice street in Forest Hills close to the
shores of Lake Erie and is less than 1 mile from Glenville High School, one of the best schools in
Cleveland.
The property is divided into two large apartments, you have a large two bedroom apartment
downstairs and a large four bedroom apartment upstairs. The downstairs apartment has a tenant in
place paying $700 in rent each month. The upstairs apartment has been vacated. The apartment is in
a good condition however the seller will supply the unit refurbished to a Section 8 standard. The
funds are included in the price and the work will begin when the new owner closes on the property.
When complete the management company will place brand new tenants, the apartment should
achieve $1,000 – $1,300 in rent each month with Section 8 housing.
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 2 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
$89,900
Gross annual rental income:
$24,000
Property running costs:(Tax, insurance and management costs)
$3,689
Net annual rental income:
$20,311
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
23%
Break even in
4.34 Years
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 89,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga