Four Bedroom House (ref. 41701562) - 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. 41701562)
Date & Time Listed: 2024-03-04 20:58:48 (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 multi-family home is located in Mount Pleasant and is only six minutes from the famous
Shaker Square. Shaker Square is one of the biggest attractions in Cleveland and is full of
restaurants, bars, boutiques and even has a cinema.
The property is divided into two large apartments, you have a large two bedroom apartment
downstairs and a large two bedroom apartment upstairs. The downstairs apartment has tenants in
place paying $600 in rent each month, this is way below market value so should the tenant leave
the rent could be increased and the apartment could house a Section 8 tenant. The upstairs
apartment was recently updated and made rental ready and the management company will place
brand new tenants when the new owner closes on the property. The tenant could be Section 8
housing and the current market rent is $950 – $1,100 in rent eaach month.
Mount Pleasant is seen as a very strong investment area in Cleveland, less than 2.1 miles away you
have the famous Shaker Square which is one of the biggest attractions in Cleveland. Shaker Square
is full of restaurants, bars, boutiques and even has a cinema. This property is also only 6 miles
from Downtown and 3.6 miles from the University Circle.
Investment Calculations
Purchase price
$84,900
Gross annual rental income:
$20,400
Property running costs:(Tax, insurance and management costs)
$4,140
Net annual rental income:
$16,260
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
20%
Break even in
5 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 84,900.00 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