Four Bedroom House (ref. 41701686) - Houses for Sale, Real Estate - Number of Bedrooms: 4, Number of Bathrooms: 1 - Cuyahoga, Ohio, United States

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Four Bedroom House (ref. 41701686)
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: 1
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This large single family home is located in the sought after area of Glenville, just 1.7 miles to the centre of
University Circle. There are a large number of new build properties being constructed in this area having a
positive impact on nearby real estate.
The property will be renovated by Global Investments best contractors and will be supplied rent ready to a
Section 8 standard. The property comes with a 2 month rental guarantee to give the new owner an immediate
income while the repairs are being completed. The house will benefit from a new roof, all new windows, new
carpet and paint throughout. The house will also come with a new furnace and hot water tank. When complete
the management company will place brand new vetted tenants. Large 4 bedroom single family homes are in
shortage and high demand with Section 8, The house should achieve $1,400 – $1,600 in rent each month. This
house when renovated would appraise for a much higher value. Similar homes are selling for $140,000 –
$180,000 as shown on page 15 of this brochure. This would give the new owner immediate equity.
Glenville is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid,
Bratenahl and the I90 (highway). The property is extremely well located and is very close to the VA hospital the
Cleveland Museum of natural history, the Cleveland, Museum of Art, casted western reserve University, the
university hospitals, and the Cleveland clinic.
Investment Calculations
Purchase price
$79,900
Gross annual rental income:
$19,200
Property running costs:(Tax, insurance and management costs)
$3,156
Net annual rental income:
$16,044
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: 1

Price: 79,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 1 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 1
Posted From: United States, Ohio, Cuyahoga