Four Bedroom House (ref. 41701638) - 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. 41701638)
Date & Time Listed: 2024-03-04 20:58:49 (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 fantastic two apartment multi family home is located on a very nice street in the sought after
area of South-Collinwood, it is just five minutes from the Lakeshore and just a short walk to
Collingwood 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 two bedroom apartment upstairs, One apartment has a tenant in place paying
$650 in rent each month, The current market rent is much higher, should the tenant leave the unit
could be rented to Section 8 tenants and increase the ROI. 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 tenant. The current market rent for Section 8 is $1,000 in rent each month.
South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by
some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The
property is less than half a mile to Collinwood High School one of the best schools in Cleveland. This is
one of our most demanded areas by investors
Investment Calculations
Purchase price
$83,900
Gross annual rental income:
$19,800
Property running costs:(Tax, insurance and management costs)
$3,714
Net annual rental income:
$16,086
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: 83,900.00 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