This large single family home is located on a very nice street in the sought after area of South-Collinwood, it is just five minutes from the Lakeshore and five minutes and a mile from Collingwood High School, one of the best schools in Cleveland. There are two large bedrooms, a full basement and a large garden. The property will be renovated by Global Investments best contractors and will be supplied rent ready to a Section 8 standard. When complete the management company will place brand new vetted tenants. The house should achieve $1,000 – $1,250 in rent each month. South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid, The property is less than 1 mile to Collinwood High School one of the best schools in Cleveland. This is one of our most demanded areas by investors Investment Calculations Purchase price $73,900 Gross annual rental income: $15,000 Property running costs:(Tax, insurance and management costs) $3,045 Net annual rental income: $11,955 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 16% Break even in 6.25 Years. This property is a House for sale.
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