Three Bedroom House (ref. 41702254) - Houses for Sale, Real Estate - Number of Bedrooms: 3, Number of Bathrooms: 2 - Cuyahoga, Ohio, United States

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Three Bedroom House (ref. 41702254)
Date & Time Listed: 2024-03-21 12:37:10 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This large two apartment multi-family home is located in the Waterloo Art District in North Collinwood, right
next to the Lakefront and close to the new Amazon facility. The Waterloo District is known as a bustling area
with art studios, entertainment, restaurants, bars and retail, it is the place to go out on the Eastside of
Cleveland.
The property is divided into two large apartments. You have a large two bedroom apartment downstairs and a
large two bedroom apartment upstairs. 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 brand new
tenants. Each apartment should achieve $1,100 in rent each month based on current Section 8 rates.
The Waterloo Arts District is a funky, indie community, with lots of cool little galleries and studios. You can hear
live music at one of the best venues in the country or browse an awesome indie music store. The coffee shops
roasts all their own beans, and there are plenty of great places to eat within a five-minute drive.Just ten minutes
to downtown Cleveland, the Lakefront is also just five minutes away
Investment Calculations
Purchase price
$139,900
Gross annual rental income:
$26,400
Property running costs:(Tax, insurance and management costs)
$13,044
Net annual rental income:
$13,356
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
30%
Break even in
3.3 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 2

Price: 139,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 2 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga