Four Bedroom House (ref. 41702517) - 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. 41702517)
Date & Time Listed: 2024-04-01 13:39:42 (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 large two apartment multi family home is located in a very nice street in Hough, close
to the shores of Lake Erie. Hough is a very demanded area in Cleveland due to its close proximity to
the University Circle, the entrance is less than two miles away.
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 is rental ready. The
management company can place a Section 8 tenant when the new owner closes on the property. The
current market rent with Section 8 is $1,000 – $1,250 each month in rent. The second apartment has
just been vacated and needs some minor cosmetic repairs to bring the unit up to a Section 8 standard.
The cost of the repairs are included in the price, the work will begin when the new owner closes on
the property, when complete the management company will also place brand new tenants.
Hough is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid,
Bratenahl and the I90 (highway It is also just 2 miles from the University Circle. The University Circle
has the highest concentration of cultural attractions and performing arts venues in the whole of the
US, such as the Cleveland Museum of Art; Severance Hall, Cleveland Institute of Art, plus many more
Investment Calculations
Purchase price
$94,900
Gross annual rental income:
$30,00
Property running costs:(Tax, insurance and management costs)
$4,561
Net annual rental income:
$25,439
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
27%
Break even in
3.7 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 94,900.00 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