Three Bedroom House (ref. 41702147) - Houses for Sale, Real Estate - Number of Bedrooms: 3, Number of Bathrooms: 1 - Cuyahoga, Ohio, United States

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Three Bedroom House (ref. 41702147)
Date & Time Listed: 2024-03-18 14:22:37 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This very nice three bedroom single family home is located in the sought after area of Glenville,
just 2 miles from Glenville High School which is one of the best schools in Cleveland
The property has three bedrooms, one bathroom, a full basement and a large rear garden. The
property has a brand new roof and all new windows. The house has just been vacated and needs
some cosmetic repairs to be brought up to a Section 8 rental ready standard. 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 house should
achieve $1,200 – $1,400 in rent each month based on current Section 8 rates.
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 also very well positioned directly
opposite the Cleveland Lakefront Nature Preserve. The house is also within Greater Circle Living
(GCL) which is a part of the larger Greater University Circle Initiative, comprehensive communitybuilding and development strategy for rental and purchase housing options in Greater University
Circle neighbourhood’s.
Investment Calculations
Purchase price
$69,900
Gross annual rental income:
$16,800
Property running costs:(Tax, insurance and management costs)
$2,720
Net annual rental income:
$14,080
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: 3
Number of Bathrooms: 1

Price: 69,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1
Posted From: United States, Ohio, Cuyahoga