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Four Bedroom House (ref. 41704649)
Date & Time Listed: 2024-07-01 10:16:03 (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 on a nice street in Corlett and is just 1.4 miles and four
minutes from John Adams College, one of the leading schools in 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 also has tenants in place
in both apartments paying $700 in rent each month. The market rent can be $1,000 – $1,250 in
rent each month with Section 8 housing. The house is under management with a local
Cleveland property management company.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7 miles from Downtown
and 5 miles from University Circle. Also less than 2 miles away you have Lee Harvard shopping
centre. The property is also just 4 minutes to John Adams College, one of the best schools in
Cleveland.
Investment Calculations
Purchase price
$97,900
Gross annual rental income:
$16,800
Property running costs:(Tax, insurance and management costs)
$9,636
Net annual rental income:
$7,164
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
21%
Break even in
4.76 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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Related Links:
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