Four Bedroom House (ref. 41705002) - 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. 41705002)
Date & Time Listed: 2024-07-08 10:24:44 (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 very nice street in South- Collinwood, the house is situated in Nottingham
which is the most sought after exclusive part of South Collinwood. Properties in this area rarely come onto the rental market
for investors and this house will sell within hours not days.
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 has a tenant in place paying $700 in rent each month which is below market
rates. The second apartment will be renovated by Global Investments best contractors and will be supplied rent ready to a
Section 8 standard. The works will begin as soon as the new owner closes on the property. Included in the works are
replacement sidings at the front of the house which will transform the look of 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
based on current Section 8 housing rates.
Nottingham in South Collinwood is seen as a very strong investment area in Cleveland, The property is just 2 miles to The
Waterloo Arts District, 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 15 minutes east of Downtown Cleveland.
Investment Calculations
Purchase price
$104,900
Gross annual rental income:
$23,400
Property running costs:(Tax, insurance and management costs)
$4,381
Net annual rental income:
$19,019
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
18%
Break even in
5.5 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 104,900.00 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