Four Bedroom House (ref. 41702725) - 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. 41702725)
Date & Time Listed: 2024-04-08 11:17:53 (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 large multi-family home is located in Buckeye Shaker and is only three minutes and walking
distance from the centre of the famous Shaker Square. Shaker Square is one of the biggest
attractions in Cleveland and is full of restaurants, bars, boutiques and even has a cinema.
The property is divided into two large two bedroom apartments, One apartment has a Section
8 tenant in place paying $650 in rent each month, The current market rent is $1,000 – $1,250
each month. The management company are in the process of applying for a rent increase for
this tenant. The apartment downstairs 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 apartment should achieve $1,000 – $1,250 in rent each month with Section 8.
Buckeye Shaker is seen as a very strong investment area in Cleveland, less than 1 mile away you
have the famous Shaker Square. The house is also just 4 minutes to Larchmere Blvd which is
host to a multitude of many quality cafe’s, restaurants, beauty salons, fashion shops and many
small businesses. This house is extremely well located.
Investment Calculations
Purchase price
$97,900
Gross annual rental income:
$22,800
Property running costs:(Tax, insurance and management costs)
$4,680
Net annual rental income:
$18,120
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
19%
Break even in
5.26 Years
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 97,900.00 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