Four Bedroom House (ref. 41702726) - 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. 41702726)
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 two apartment multi-family home is located in North Collinwood, just 1.5 miles to 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 property has a tenant in place in one apartment paying $750 in rent each month. The current market
rent is $1,000 0 $1,250. The second apartment has just been vacated and needs some minor cosmetic repairs to be made rental
ready to a Section 8 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. The apartment should achieve $1,000 –
$1,250 in rent each month with Section 8.
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
$119,900
Gross annual rental income:
$24,000
Property running costs:(Tax, insurance and management costs)
$11,268
Net annual rental income:
$12,732
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
32%
Break even in
3.1 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 119,900.00 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